Kevin Feather

Hi Patricia,

The comps for homes has been literally all over the map. It's a very strange time for pricing real estate these days. There are those houses that for some reason attract multiple bids and sell way over the initial asking price. Then there are others that seem to be priced just right that sit on the market, possibly get a price reduction and eventually sell.

The best way for you to get a sense of your properties value is to attend open houses in your neighborhood so that you can begin to have a well informed view of local market comps. Next definitely seek the advice of at least 3 realtors who can evaluate the comps, look at the features of your house specifically and then talk about their method to market your property to reach your price goals.

I hope this helps to some extent. Good luck!

-- Kevin - Fri May 9 2008, 07:43

Hi there -- doing a VERY quick search of Outer Richmond single family homes that have sold in the past 6 months yields a selling price above $500 per sq. foot. However, it is important to keep in mind that the number is skewed because a lot of properties listed in MLS do NOT include the square footage. The number from MLS is based on those properties that have a listed square footage. The price per square foot is helpful in assessing value, but almost not a precise instrument when comparing properties that are either on the market or have recently sold.

I hope this helps!

-- Kevin - Mon Apr 14 2008, 08:27

Hi Rivan,

That's an interesting question, I've never seen that before. I would think the title would be held as "single man" rather than joint tenants. In the cases I've encountered it normally is used for non-married individuals (mostly same sex partners), but sometimes family members that are purchasing together. I'd ask your mortgage broker if this is a lender/bank requirement.

I'd be interested to see what others have to say and if you find out more information. You quite never know what interesting factors will come up with any real estate transaction. It could be a leaky toilet on the day of close of escrow to this type of question that you posed.

Thanks for the question!
--Kevin - Tue Mar 18 2008, 11:20

Talisa,

Regarding closing fees, etc., I tell my clients to estimate about 1-2% of the purchase price for closing costs. The fees vary based on the timing of the sale -- e.g., pro rated property tax bill. The other costs, such as lender/bank fees, etc can vary as well.

That gives you a sense of the fees, but you will get a clearer estimate closer to the time that you would close escrow on a particular property. That closing statement will provide you with more exact numbers.

I hope that helps you to some extent to understand how much to estimate on associated closing costs. - Wed Mar 5 2008, 15:03

Hi Nick,

I am doing a "cut and paste" from a question that I answered about a month ago. I think it still might be helpful for your situation.

For home buyers, I think that questions related to how this agent is going to work for you are the most important.

As you probably know, a buyer's agent gets paid her/his commission at the close of the transaction. This commission comes from the seller, not from the buyer.

That being said, you want to know how this commission based agent is going to find you the best property that fits your criteria. Here are some of the questions that I've been asked or that I've talked to previous buyer clients about in order that they got some of the vital information about the realtor/client working relationship. For me it is important that clients what my business philosophy is and that it meets their needs.

Are you in this with me for the long haul? If I it takes me 6 months to a year to find the right place, will you still work with me? (KEY: Look for commitment)

How much contact (i.e., frequency) and in what format of communications (e.g., email, text msg, and/or phone) should I expect from you. (KEY: Look for what fits you the best and how you like to get communications. Also, it tells you a lot about how they communicate too and their flexibility)

Give me some examples of your negotiation skills or past client negotiations that you've undertaken on their behalf and what was the outcome? (KEY: This should give you an idea of how they think and how they work for their clients)

What has your client base been like? What types of people have you worked with in the past? (KEY: This will provide you with an understanding of what people have gravitated to working with them in the past, also the calibre of people that have been attracted to working with this realtor)

What's your experience/work background? How has that helped you in the past with your clients? (KEY: This should give you an idea of their professionalism)

I hope this helps you. Let me know if you've got any additional questions. - Tue Mar 4 2008, 16:42