Sandy Kay Homes

Tag: Schools

  • Good School is the Top Priority for Home Buying

    Good School is the Top Priority for Home Buying

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    Good School is the Top Priority for Home Buying
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    Sandy Kay

    Good School is the Top Priority for Home Buying

    Home buying is one of the most crucial and expensive (for the most of the population) purchases. Most buyers will have a checklist and priorities in their mind. But did you that being in the location where good school districts are the top priority of most home buyer?

    According to a report by realtor.com:

    “Most buyers understand that they may not be able to find a home that covers every single item on their wish list, but our survey shows that school districts are an area where many buyers aren’t willing to compromise.

    For many buyers and not just buyers with children, ‘location, location, location,’ means ‘schools, schools, schools.’”

    realtor.com
    good-school-infographic
    Image from realtor.com

    Common examples of compromises made because of the updated kitchen, garage, and large backyard. This is likely the case especially to people in 35-54-year-old buyers. However, the result may come as a surprise to people over 54-year-old because this age bracket will likely not compromise.

    It only goes to prove that location is essential and being close to great schools is a must-have for the majority of buyers.

    Are you planning on buying a house? Check out our Home Value API map which is a unique way to predict changes in value based on proximity to good schools.

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    Money-Time-Homebuying

    Ann Kownacki

    (Sandy Kay)

    • BRE# 01038967
    • (408) 202 0608
    • sandy@sandykayhomes.com
    • 10275 N De Anza Blvd, Cupertino CA 95014

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  • SCHOOLS SCHOOLS SCHOOLS

     

    The real estate market has experienced its highest  upward price trends in a long time – no surprise  – its families buying and moving to areas with good schools. More people seeking great lifestyle and the flurry of jobs. Homes in prized areas where school rank high 800’s and 900’s in API  (Academic Performance Index)  school score are the targets.  Consequently areas that have high APIs in all school sectors:   Elementary, Middle and High Schools like Cupertino, Los Altos and Evergreen are the really hot markets still with multiple bids on properties.

    A tip most home buyers don’t know is that schools may become saturated and newly registered kids will have to go to alternative schools.  Also some school that may not have as high school scores, actually have better art and liberal studies programs..  Don’t overlook the value of programs for a single number like API.

    Life style is not just about schools. A prudent buyer should look at location first , safety and stability of neighborhood, the homes amenities.  Bedrooms and the overall construction are also important. Remodeling can be minor or major. I am an experienced agent with experience in that capacity. Add up the cost of upgrades before you jump on a poorly maintained and kept short sale where there are a never ending number of surprises with deferred maintenance from the previous owners.

    So what should investors do?  They should cross schools with size of the home, construction, price, location based on jobs and shopping and other amenities. Currently there is a MAP here of Santa Clara county where you can look at Aptitude Performance Index and area.  This is a unique way to correlate home value and location. We want to find the hot investment areas or future areas of gentrification that might just be diamonds in the rough for the man with cash who wants to make money in the California market.  Call Sandy Kay at 408 202 0608 and ask me about it …and happy hunting.

  • How are Sales different now than 10 years ago?

    I remember the good old days when you could take a client out and find a home that you like and make an offer and if everyone was on the same page, the client could move in within a month or so. No more. sales go on and on and on since a lot of them are bank sales or sellers are still holding on to older prices. The banks are not at all interested in contract timelines or contingencies. Negotiations may take months or just disappear into the void where someone (who knows who) is evaluating a good offer. No wonder buyers walk and move on to other prospects in frustration.  Appraisals have to be renewed every three months and should there be a compliant seller they have to renew their information to the bank every 60 days or so.

    So 2011 has been interesting. I have seen properties where sellers have been living in bank owned homes a year after the bank has owned the property. The sellers are still trying to sell the home and the sellers agent is representing the seller!  I showed a home the other day and the seller informed me that they were planning to take everything in the house that wasn’t nailed down when they leave and a lot of things that were nailed down. Another seller I spoke to has no where to go and no plans and my buyer’s loan funds in two weeks.

    Crazy world. The reality though is that insurance, health costs, commodity prices and gas prices are going up. So what did Betty Davis say; “fasten your seat belts, we are in for a bumpy ride.”  The foreclosures are by no means over. I ran the loan to value ratio in an upscale town home complex not that long ago and guess what — one in four people had equity in their property. So if anyone there loses a job or changes their financial situation there are predicted foreclosures.

    Plus there is my conscience. It’s no fun to work with people that are having huge financial problems. Consequently, I have found just about every legal way to help sellers in default and will continue to help with financing counseling and problem solving and trouble shooting loan modifications. Most people need support and gradually get educated on the changes to their financial picture so that they can move forward with life in 2012.

    Sellers there is good news. There are many multiple offers for properties in good school areas. Ask for a home evaluation today to see how your value is doing based on my school maps.

    Sandy Kay