The Key to Winning Bidding Wars in Silicon Valley

Looking to buy in the Silicon Valley? Get a full Home Search 
Looking to sell in the Silicon Valley? Get a Home Price Evaluation

The real estate market in Silicon Valley has gotten extremely competitive for home buyers. In order to craft a winning offer on your dream home, you need to keep in mind a few different things while writing your offer.

1. Before anything else, you will need to get a pre-approval for a mortgage loan. Most sellers won’t even look at your offer if you have not talked to a lender and gotten pre-approved. You need to prove that you can afford the home before you make an offer to the seller. You’ll also want to show proof of funds for the down payment.
2. Writing a personalized letter to the seller is always helpful. You can include a picture of yourself and your family, and this can help put a face to your name instead of just a number. This can help to tug on the heartstrings of the seller, and sometimes this is the extra boost you need to push your offer to the top. Within the letter, tell them what you love about the home and neighborhood – especially any remodeling or upgrades the seller has done. Focus on how happy it will make your family.
3. Make sure your actual offer is written properly. Consult with your Realtor in order to fashion an offer with a proper price and terms for the sale to occur. It’s important to have a professional that knows the local market to craft your offer and ensure you have a “complete package” before you submit it.

When all's said and done, you need to figure out what the seller wants. Have your Realtor consult with the listing agent so that you can tailor-tune your offer to match the exact needs of the seller. Some people want a high sale price, and others might just want a shorter closing period for the sake of convenience.

“

Tailor-tune your offer to meet the needs of the seller.

”

If you need help writing an offer or navigating a tough market in Silicon Valley, please don’t hesitate to reach out to us!

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?

Looking to buy in the Silicon Valley? Get a full Home Search 
Looking to sell in the Silicon Valley? Get a Home Price Evaluation

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!