3 Reasons Home Valuations Sites Don’t Work

Question: “We’re interested in a house and checked what value Zillow shows for it. They have $517,000, but the home has been listed at $449,000 for a few weeks. So obviously it’s not worth $517,000. Why do you think Zillow is so bad?” Answer: I can think of at least three likely reasons that ALL
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Is Your San Diego Home Overpriced?

Question: “I’d like to move closer to my mother. There’s a home directly behind hers that’s been on the market for about a year and they haven’t reduced the price. Do you think it’s over-priced?” Answer: If a home is priced right, even the most pathetic, good-for-nothing, lay-about real estate agent will find a way
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Are Agents Responsible for Finding & Disclosing Home Problems?

Question: “Hi Gary. A friend of mine bought a home and it turned out to have several problems, including a lot of mold behind a couch. Is an agent responsible for finding and disclosing things like that?” Answer: An agent is legally required to “conduct a reasonably competent diligent visual inspection of reasonably and normally
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How Much Should You Pay for a San Diego Home You Love?

Question: “We could use your advice. We’ve been really studying the market and looked at over 50 condos. We finally found the perfect condo for us. We offered and the seller’s bottom price is $435,000, but that model has been going in the 420s. Any words of wisdom?” Answer: I have three comments – I
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Can You Outbid a Backup Home Offer?

Question: “There’s a home next door to some friends that my wife and I just missed out on. Now our friend tells us he heard the sale is cancelling. So our agent called the seller’s agent saying we’ll raise our offer $10,000 over the asking price, but was told they had an accepted backup offer
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What Is a “Highest and Best” Offer?

Question: “We made an offer on a home. The seller responded saying there are several offers and asking for ‘highest and best’. Can you explain what that is exactly?” Answer: The seller is countering those who offered on their home. But instead of countering with a specific price, they’re asking the buyers to come back
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Offer At, Below or Above List Price on a San Diego Home?

Question: “My husband and I have been looking for a home for four months. The perfect house just came up in University City that’s probably asking 5-10% below the market. Not sure what to offer. Do you think we should offer below the asking price, at the list price, or above?” Answer: Information flows so
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Will This Value Range Pricing Mistake Haunt Sellers?

Question: “I saw an ad that said the seller ‘will ACCEPT offers between $600,000 and $660,000.’ If that’s the case, why wouldn’t everyone just offer $600,000?” Answer: Unfortunately, the broker isn’t stating that correctly. It’s supposed to say: “Seller will entertain offers between $600,000 and $660,000” or perhaps just “Value range $600,000 to $660,000”. That
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How Long Is Your San Diego Home Inspection Good For?

Question: “We made an offer on a house and the seller had a home inspection done 4 months ago. How long are home inspections good for?” Answer: There’s no generally agreed “expiration” date for a home inspection. But I’d say any inspection done in the past 6 months is still going to be pretty current.
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Should You Buy a 1-Bedroom Condo?

Question: “Is buying a 1BR condo a bad idea because they’re hard to resell?” Answer: No. First of all, like any real estate, they’re not hard to resell if priced correctly. But if they were undesirable, that would (or at least should) be reflected in the form of lower prices.
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