Home Buying in San Jose>Question Details

Gia, Home Buyer in San Jose, CA

Considering selling my Condo...

Asked by Gia, San Jose, CA Thu Aug 22, 2013

Have done extensive upgrades to unit, however HOA fees are quite high yet when issues arise they are not addressed whatsoever. Usually issues caused by their workers. In addition many areas are not accessible to persons with disabilities. Any advice on areas that you would suggest?

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14
Hi Gia,

I am an HOA expert and a Realtor.

Why not give me a call. Until I see the HOA documents, I cannot really make helpful suggestions. My partner is n HOA expert who has revived countless HOAs and turned them from money wasters to money savers.

Perhaps there is something we can do for both you and the homeowners association.

Thank you,
Grace Morioka
Allison James Estates and Homes
Tel 408-426-166
0 votes Thank Flag Link Thu Aug 22, 2013
Sorry...that is 408-426-1616
Flag Thu Aug 22, 2013
I had a similar situation a while back, but as long as it is disclosed to the buyers you will be fine. First step I recommend is giving me a call so I can sit down with you and go over all your options in detail. You can contact me anytime at zamorasellshomes@gmail.com, good luck! and I hope to hear from you soon.

Miguel Zamora
Lic# 01931841
0 votes Thank Flag Link Thu Aug 22, 2013
Great to hear you are selling. If you need a purchase loan for your new home or need financing for the buyer of the condo, I can certainly help you out there. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
0 votes Thank Flag Link Thu Aug 22, 2013
Hi Gia:

If you are thinking of selling your Condo and you are concerned that the fees are so high they'll discourage buyers, don't panic. A lot depends on what the HOA fees are for and whether buyers feel they are getting a deal for what the HOA fees cover. For instance, maybe you have a pool that is heated all year with a spa? Maybe you have an exercise room, tennis courts etc?, earthquake insurance? Maintenance, hot water, garbage, and sewer fees all within the HOA fee structure? Your agent will have the job of putting the fees in a perspective that makes your buyer feel warm and fuzzy all over as they write their deposit check.

There are a few more areas I would like to discuss with regard to selling your condo and one area regarding where you plan to move to. Let's start with the selling questions first:

First, does your condo have enough owner occupants to allow loans to be obtained by the buyers? If not, then you are looking at cash only buyers, which may hurt your price. Second, is there any litigation or obviously differed maintenance? Yes to either question can also result in only cash buyers which again reduces your likely sale price. The reason for only cash buyers is these issues trigger no loan commitments from banks using any government program that generates loans such as Fannie Mae or Freddie Mac (for "conforming loans"), FHA (for low down payment government insured loans), or VA (for veterans no down payment loans) or and any down payment assistance programs.

Second, would you like know if there is anything you can do to increase your likely price? This usually means cosmetic things.

Third, would you like to hear about the best marketing of homes channels and programs available to create the largest number of buyers? Do you want an agent who solves problems so deals always close at high sales prices? Do you want an agent who has been a loan officer at a bank and knows whether a deal will be successful and the buyers' loans will come through? I hope you do and would like you to interview me so you can be introduced to the best agent a commission can buy.

Those things said, let's look at a really important question: What are your plans for where you want to go? Let's go over your current finances and what you can expect to make in the sale to see if you will be able to get to where you want to be.

All these questions are inherently personal and no one should answer them in a public forum. Feel free to give me a call at 408-639-0211 to discuss your future. There is no obligation. You want and have every right to know whether the agent you might hire is one you can feel easy to work with, can dig up the facts that make a difference for your sale, but hard nosed enough to get the best for what you want to accomplish. Let's make it possible for you to go where you want in the time you want.

Cheers!

Mitchell Pearce
408-639-0211
mitchell@handsonrealtor.com
0 votes Thank Flag Link Thu Aug 22, 2013
The decision to buy or sell your home is the most important financial decision that you wil make in your life.

I recommend that you select your REALTOR with as much care as you use to select your doctor, your Certified Public Accountant and your Attorney.

The issues of the upgrades, and the value that they add to your property, the high HOA fees, and the issues that are not addressed by the HOA are complex.

I recommend that you select an experienced REALTOR to represent you and ask for an appointment for a one to two hour consultation to discuss the issues that you have presented here.

Your REALTOR will help you develop a solution to the problems that you have presented here.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
Owner/Broker: The Butterfield Real Estate Firm
Cell Phone: (408)509-6218
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
0 votes Thank Flag Link Thu Aug 22, 2013
High HOA fees can result from delayed maintenance, preparations to do major renovation or other things. I know of a very nice condominium development which delayed doing needed maintenance then had to do major repairs to correct the resulting problems. It was very expensive for the owners. They either had to come up with tens of thousands of dollars or sell at a very low price. When you live in a condominium or other common interest development you want to pay close attention to how well the HOA is run. Indeed if the HOA is poorly run it might be advisable to sell and buy elsewhere.

Finding a development that is good for people with disabilities will vary from person to person. Some people would be happy as long as they have easy access to their unit. Other people want to have good access to public areas or features. Work with an experienced realtor who will learn your desires and be certain you get a home that is great for you. I wish I could offer more specific advice now but I need to know more about you to give good advice.

San Jose house and condo values at http://julianalee.com/san-jose/san-jose-statistics.htm
San Jose just sold house and condo just sold information at http://julianalee.com/san-jose/san-jose-home-sales.htm

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
.
Web Reference: http://julianalee.com
0 votes Thank Flag Link Thu Aug 22, 2013
Hi, Gia:

Sellers are required to submit a variety of HOA docs to the buyer once you have accepted their offer. Any issues, such as compliance with disabilities accommodation laws that you are aware of need to be included in your disclosures.

My team has sold several condos in the San Jose area in as few as 2 days after going to the MLS. We price it right and advertise it to the right audience.

We now have several buyers interested in the San Jose condo market. Without making any undue promises, you should be able to sell your unit in a reasonable time.

Please contact me directly by phone if you have further questions.

Jeff Vinson
408-674-0949
BRE 01889443
0 votes Thank Flag Link Thu Aug 22, 2013
As long as you disclose all the facts related to property you should be fine selling your condo. Not quite understand what your concerns are.
Web Reference: http://talisrealestate.com
0 votes Thank Flag Link Thu Aug 22, 2013
What are the HOA fees? Which complex is it?
0 votes Thank Flag Link Thu Aug 22, 2013
As a seller you don't need to be concerned about handicap accessibility. That is the respondsiblity of the HOA and usually only applies to public buildings, restaurants, malls...etc. It's unfortunate the dues are high as that limits the anount of potential buyers. If your home is a nice as you say it is I'm sure someone will fall in love with it. If you're in San Jose let me know if I can help any further.

Thank you Chris,

Chris Mosher
408-204-8209
chrism@serenogroup.com
Web Reference: http://www.chrismosher.com
0 votes Thank Flag Link Thu Aug 22, 2013
Hi Gia,

I just Sold 2 condos in SJ, one downtown, one on Communication Hill. Seems like the HOA is not very efficient where you are! Do get in touch with me if you would like to sit down and discuss your Selling needs.
"Any advice on areas that you would suggest?" Are you asking for suggestions to deal with the HOA? Or Areas for you to Move to Rent or Buy?? the question is not quite clear.....
Be well and safe, regards,
Nina Daruwalla
BRE#01712223
0 votes Thank Flag Link Thu Aug 22, 2013
Good afternoon Gia,

The HOA fees do play a part in the decision whether a buyer is willing to purchase a home or not. However, it isn't the only factor that they look at. Location, type of unit, price, options, upgrades, amenities all play a role in the decision.

If you would like to talk more I am available to answer any questions you have, look for options in homes for you to move into, and run compatibles on your current home.

I look forward to hearing from you.

Regards,
Stacy Seymour
Coldwell Banker
0 votes Thank Flag Link Thu Aug 22, 2013
Pls call or email me and I'd love to sit down with you and discuss selling strategies. I've sold condos that are not accessible to persons with disabilities.
Thank you.

Dina Dy
(408)210-7985 dina.dy@carringtonres.com
1087 Meridian Ave #20 San Jose, CA 95125
BRE License No. 01125374 Carrington Real Estate Services (CA) Inc.
http://www.dinady.com / Serving the Bay Area since 1991
0 votes Thank Flag Link Thu Aug 22, 2013
Are you looking for advice on selling or to deal with the HOA?

I'd be happy to come visit your condo and discuss your options. No obligation.
0 votes Thank Flag Link Thu Aug 22, 2013
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