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Home Selling in San Carlos : Real Estate Advice

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  • Local Info7
  • Home Buying17
  • Home Selling6
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Activity 5
Fri Jul 1, 2011
Kerry Howard answered:
On the average homes in San Carlos priced between 800,000 and 900,000 from December of 2010 thru Jume of 2011 have been 30 days or less
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Fri Aug 13, 2010
Anna M Brocco answered:
You may wish to contact any local agent(s) and ask for comps--recently sold similar units in the immediate area, review the data and then make a determination as to worth--keep in mind that a home is worth what someone is willing to pay for it, not what the seller needs or potential buyer can afford to spend--market conditions do matter. ... more
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Sun Feb 1, 2009
Steven Ornellas answered:
Stillshopping, if it does not functionally allow 2 cars to enter and exit it is not a 2 car garage. Based on your description, it sounds like it isn't even a garage anymore. Best, Steve
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Tue Dec 16, 2008
Arn Cenedella answered:
Good morning E;

112 Madera has not yet closed.
It is scheduled to close around Thanksgiving.
List price is $1,169,000.

I recently had 2 closed sales in San Carlos:

42 Williams San Carlos 4/2 listed $1,195,000 closed for $1,230,000
82 Vine Street closed at $845,000.

Hope this data helps you.

Arn Cenedella
... more
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Tue Apr 15, 2008
Bob Bredel answered:
Selecting a realtor can seem like an overwhelming task. Currently, there are over 21,000 realtors in the Bay Area. How do you know which one is best for you? First, the types of questions to ask your realtor will somewhat depend on if you are on the listing side or buying side. Below are 5 key areas to cover when interviewing a realtor to list your home.

LISTING AGENT INTERVIEW

(1) Go Local. First, make sure that the overwhelming majority of your prospective agent’s transactions are done locally, i.e. mid-peninsula (It would help if he or she specialized only in a few cities, San Carlos being one of them). I would never use a realtor who was not a local realtor. Local realtors know the market better, have better connections and are much more likely to sell your home at a price and with terms that are agreeable to you. When prospective buyers’ agents see a phone number starting with (916) or (510), for example, they know that if their clients were to put an offer on that particular home, there is a higher likelihood that the transaction is going to be very difficult. Agents from out of the area will be unfamiliar with our local forms and disclosure requirements. Additionally, their firm will not have a proven and trusted track record with San Carlos sales. In other words, if you list your home with an out of area agent, you may risk losing a percentage of traffic through your home. Often times, out of area agents are family members or close friends of the sellers conducting their services as a reduced cost. The better way to handle this situation is for sellers to have their out of area agent refer the sale to a local agent who will agree to compensate that out of area agent a referral fee. Most referral fees are about 25% of the total list commission.

(2) Explanation of CMA. A CMA or Current Market Analysis is what a realtor will use to help decide an offer price for your home. During your interview the realtor should be able to give you a comprehensive CMA for your home. Handing you a bunch of comparables at the interview is is NOT a CMA. I would view this as the sign of a lazy realtor. If he or she is this lazy prior to the home going on the market, you can imagine what you will get once your home actually gets to market. A solid CMA examines price per square foot, comparables, area trends, inventory, pending sales, overall market conditions and characteristics unique to your property. The CMA should be succinct and ultimately arrive at a limited price range for your home.

(3) Services. Superior realtors will come to an interview with their CMA, Referral Contacts, and an Offer of Services nicely packaged in an interview binder for your review. Just what types of services should you demand for your realtor aside from the normal MLS listing, open houses and flyers? In short, you should be very demanding. In San Carlos the majority of homes are selling for over a million dollars and your listing agent is most likely charging you close to 6% (split with the buyer’s agent) for the sale. You should expect most, if not all, of the services to be compensated by your agent. I always spell out all of the services I will pay for out of my own pocket, on paper, as part of my listing presentation so that there is no ambiguity over who is paying for what. For instance I always pay for most of the staging (up to a certain length of time) or a home rearrangement if staging is not necessary, a house cleaning, yard clean up, self-catered open houses, inspection reports, high-end flyers, photography, virtual tours and more.

(4) Negotiating the Commission. Most homes in San Carlos have a list commission of between 5-6%. This commission is then split with the buyer’s agent. While commissions are negotiable, most very good San Carlos agents will not go below 5%, because they are worth it. If you were to interview a number of agents you would inevitably get one agent who would cut the list commission down to 4% or possibly even lower. Beware of these discount agents. Even though many of them advertise themselves as “full service” you are likely to get “discounted service”. My advice is to hire a top San Carlos agent and agree to the 5-6% commission. They should more than make up the difference of the discount agent’s prospective commission. The top San Carlos agent’s knowledge, local connections and work ethic will justify their commission.

(5) Experience. Always ask the prospective agent for a list of their last 12 month’s production. Again, a good agent will have this list prepared and will have it as part of their listing presentation to you at the interview. Ask for a list of references of sellers who have listed their home with your prospective agent within the last 12 months. Call the references.
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