| Welcome to my web site. |
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Whether you are just browsing, or have specific real estate needs, I hope you find the tools and content here helpful.
Please take your time to look around, and I sincerely hope to hear from you, or answer any questions you have regarding real estate in the Bay Area.
Sincerely,
Faye Weng |
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Tenant suffers damages in plumbing remodel
Thu, 28 Aug 08 00:00:00 -0700 |
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Homeowners, is your estate planning in order?
Thu, 28 Aug 08 00:00:00 -0700 |
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Employer willing to buy out tenant's lease
Thu, 28 Aug 08 00:00:00 -0700 |
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Get rid of 'buyer's block'
Thu, 28 Aug 08 00:00:00 -0700 |
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Eliminate heat loss through floors
Wed, 27 Aug 08 00:00:00 -0700 |
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Refi canceled after surprise changes
Wed, 27 Aug 08 00:00:00 -0700 |
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Don't rely on agent's choice for loan, title services
Wed, 27 Aug 08 00:00:00 -0700 |
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Home inspection nightmare: Attic access denied
Tue, 26 Aug 08 00:00:00 -0700 |
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Better choice: fund IRA or pay down mortgage?
Tue, 26 Aug 08 00:00:00 -0700 |
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Not married? Buy home as tenants in common
Mon, 25 Aug 08 00:00:00 -0700 |
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Why do most lenders sell their mortgages?
Mon, 25 Aug 08 00:00:00 -0700 |
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Must I contract with agent showing open house?
Mon, 25 Aug 08 00:00:00 -0700 |
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| I am a realtor who believes in continuous education, and I am committed to perfecting my services. Here are some of the on-going awards and designations I’ve earned: |
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| Browse Blogs |
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Seller FAQ |
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Negotiating |
 Are low-ball offers advisable?
Do
I have to consider contingencies?
How
is the price set?
Is
a low offer a good idea?
Is
there a secret to good negotiating?
What
contingencies should be put in an offer?
What is the best time to sell
your house?
What is the difference between
market value and appraised value? |
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Question: Are low-ball offers advisable?
Answer: A
low-ball offer is a term used to describe an
offer on a house that is substantially less than
the asking price.
While any offer can be
presented, a low-ball offer can sour a prospective
sale and discourage the seller from negotiating
at all. Unless the house is very overpriced,
the offer will probably be rejected.
You should
always do your homework about comparable prices
in the neighborhood before making an y offer.
It also pays to know something about the seller's
motivation. A lower price with a speedy escrow,
for example, may motivate a seller who must
move, has another house under contract or must
sell quickly for other reasons. |
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Question: Do I have to consider contingencies?
Answer: If
you are a seller in a seller's market, in which
there is more demand than supply, you probably
won't have to entertain too many contingencies.
But if you are selling in a buyer's market, when
buyers are few, prepare to be very flexible.
Granting contingencies also depends upon what
kind of price you want to get and on the condition
of your property, most experts agree. Remember,
contingencies are written into the contract and
are negotiable during the negotiation phase only. |
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Question: How is the price set?
Answer: It's
very important to price your home according
to current market conditions. Because the real
estate market is continually changing, and
market fluctuations have an effect on property
values, it's imperative to select your list
price based on the most recent comparable sales
in your neighborhood.
A so-called comparative
market analysis provides the background data
upon which to base your list-price decision.
When you prepare to sell and are interviewing
agents, study each agent's comparable sales report
(the data should be no more than three months
old).
If all agents agree on a price range for
your home, go with the consensus. Watch out for
an agent whose opinion of value is considerably
higher than the others. |
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Question: Is a low offer a good idea?
Answer:
While your low offer in a normal
market might be rejected immediately, in a buyer's
market a motivated seller will either accept
or make a counteroffer.
Full-price offers or above
are more likely to be accepted by the seller.
But there are other considerations involved:
- Is the offer contingent upon anything,
such as the sale of the buyer's
current house? If so, a low offer, even
at full price, may not be as attractive
as an offer without that condition.
- Is the offer made on the house as
is, or does the buyer want the seller
to make some repairs or to lower the
price instead?
- Is the offer all cash, meaning the
buyer has waived the financing contingency?
If so, then an offer at less than the asking price may be more attractive
to the seller than a full-price offer
with a financing contingency.
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Question: Is there a secret to good negotiating?
Answer: There
are several cardinal rules to negotiating effectively.
One is do your homework, and learn as much about
the seller or the buyer as you can. Another is
to play your cards close to your vest and not
reveal too much information to the other party
or their agent. Don't let yourself get rushed
into any decision, no matter how tempting it
may be. Finally, if you have doubts about your
negotiating skill, hire someone to help. |
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Question: What
contingencies should be put in an offer?
Answer: Most
offers include two standard contingencies:
a financing contingency, which makes the sale
dependent on the buyers' ability to obtain
a loan commitment from a lender, and an inspection
contingency, which allows buyers to have professionals
inspect the property to their satisfaction.
A buyer could forfeit his or her deposit under
certain circumstances, such as backing out of
the deal for a reason not stipulated in the contract. The
purchase contract must include the seller's responsibilities,
such things as passing clear title, maintaining
the property in its present condition until closing
and making any agreed-upon repairs to the property. |
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Question: What
is the best time to sell your house?
Answer: There
is no "best" time to sell
per se. Selling a house depends on supply,
demand and other economic factors. But
the time of year in which you choose to
sell can make a difference both in the
amount of time it takes to sell your home
and in the ultimate selling price.
Weather
conditions are less of a consideration in
more temperate climates, but most of the
time, the real estate market picks up as
early as February, with the strongest selling
season usually lasting through May and June.
With
the onset of summer, the market slows. July
is often the slowest month for real estate
sales due to a strong spring market putting
possible upward pressure on interest rates.
Also, many prospective home buyers and their
agents take vacations during mid-summer.
Following
the summer slowdown, real estate sales activity
tends to pick up for a second, although less
vigorous, fall market, which usually lasts
into November when the market slows again as
buyers and sellers turn their attention to
the holidays.
If this makes you wonder if you
should take your home off the market for the
holidays, consider the advice of veteran agents:
You are always more likely to sell your house
if it is available to show to prospective buyers
continuously. |
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Question: What is the difference between market value and appraised value?
Answer: The
appraised value of a house is a certified
appraiser's opinion of the worth of a home
at a given point in time. Lenders require
appraisals as part of the loan application
process; fees range from $200 to $300.
Market
value is what price the house will bring
at a given point in time. A comparative
market analysis is an informal estimate of
market value, based on sales of comparable
properties, performed by a real estate agent
or broker. Either an appraisal or a comparative
market analysis is the most accurate way
to determine what your home is worth. |
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HOME VALUATION |
| Monitor the value of your property, get an
idea of what your home is worth today. |
 Contact
Faye Today |
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LETTERS FROM CLIENTS |
| Nothing makes me more proud and satisfied
to know that I've served my clients well. |
| Read
All |
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FEATURED PROPERTIES |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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N/A |
| Asking Price |
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$549,000 |
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| Virtual Tour |
| Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1,434 |
| Asking Price |
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$698,500 |
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| Virtual Tour |
| Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1,024 |
| Asking Price |
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$486,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1213 |
| Asking Price |
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$535,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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3/2.5 |
| Sq ft |
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1312 |
| Asking Price |
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$775,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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Redwood City |
| Bed/Bath |
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5/3 |
| Sq ft |
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N/A |
| Asking Price |
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$1,399,950 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2.5 |
| Sq ft |
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1,254 |
| Asking Price |
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$750,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/1 |
| Sq ft |
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1,130 |
| Asking Price |
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$935,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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Redwood City |
| Bed/Bath |
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4/3.5 |
| Sq ft |
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2,951 |
| Asking Price |
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$1,626,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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S. San Francisco |
| Bed/Bath |
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4/.3.5 |
| Sq ft |
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2,783 |
| Asking Price |
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$1,275,000 |
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Virtual Tour |
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Contact Faye |
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