Superior Realty Partners' Second Annual Jasper Park Easter Egg Hunt & BBQ

We just finished up our second annual Jasper Park Easter Egg Hunt and BBQ! I’m so pleased and grateful for the way everything turned out. It was a great time for the surrounding community to get together and enjoy the beautiful weather.

Thank you to everyone that came out for this incredible event. I’d like to give special thanks to those that helped planning and running it as well. My realty firm, Superior Realty Partners, sponsored the event and we are thrilled with the outcome.

We’re looking forward to another incredible year in 2017. We’d love to gain your continued support next spring as well!

Are Zestimates Accurate in the Silicon Valley?

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Today, we discuss the question, “Can you trust Zillow for an accurate home evaluation?” Zillow has been making their computer-generated Zestimates ever since they started out. The website currently receives 140 million visitors a month. Many sellers are looking at Zestimates when pricing their home, and buyers look at Zestimates when planning their offers. 

However, Zestimates are within 10% of the sales price 68.8% of the time. That means this data is more than 10% off, 30% of the time. For instance, the average sales price in Santa Clara county was around $1,080,277 last year. If Zillow is off by more than 10% in 30% of their Zestimates, they’re off by $100,000 on average in Santa Clara county. That’s a huge difference in our area.

Ultimately, Zillow’s accuracy really depends on your neighborhood. Zestimates tend to be more accurate in larger neighborhoods of tract homes, since it has more data to pull from. Although I encourage real estate consumers to investigate Zestimates, you can’t rely on them for an accurate analysis. This data isn’t meant to be an appraisal. Only a professional in the industry, like myself, can provide that comprehensive information. Even Zillow stresses the importance that Zestimates are only the beginning to your home search and aren’t 100% accurate!

If you’re thinking about buying or selling a home in the Silicon Valley area, give me a call or send me an email. I’d be happy to provide an in-depth evaluation of your home. Additionally, if you’re interested in a particular topic to cover in a future video, please reach out with your suggestion!

What Are the Benefits of Homeowners Associations in Silicon Valley?

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Both first-time buyers and experienced buyers often ask, "why do so many communities have homeowners associations (HOAs), even communities of single-family homes that seem like they wouldn't need them?" There's a few reasons why homeowners associations are so popular.

For one, buyers want HOAs for the amenities that come with them. They also help with affordable housing on smaller lots that don't have room for pools, basketball courts, and so on. Since buyers still wanted these types of amenities, they were put into a common area that everyone in the HOA has access to and can enjoy. 

Since many cities require or encourage communities to have these common amenities, but they don't want to be responsible to maintain them, they require communities to form HOAs in order for the burden of collecting dues to be placed on members of the HOA.

Lastly, stormwater runoff basins are being required in order to prevent flooding and other damages. This is also considered a common amenity that needs to be paid for by all members of the community. 

There are many benefits associated with being part of a homeowners association. The most obvious benefit is the amenities themselves! Many of these communities have pools, spas, basketball courts, parks, play areas and workout areas, among other things. These are private amenities that are limited to people who pay into the HOA! 

If you're living in a condo or townhome community, HOA fees might be a bit higher, but they cover the exterior of the building, the roofs, and the many other things that make these properties look nice. Beware that HOAs have restrictions and rules, which are liked and disliked depending on who you're asking. The rules are often in place to ensure home values in the area are maintained. In order to do this, there might be rules that stipulate that lots and homes are maintained. Whether or not HOA rules are desirable for you depend on your goals and on the particular rules of a given area, so it's definitely something to look into before making a purchase.

If you have any questions about HOAs, or if you would like our assistance buying or selling a home in Silicon Valley, please don't hesitate to reach out to us. We would love to chat!