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Real Estate Column: Finding the Right Neighborhood
by Carolina Tapia-Urzua & Robert Incollingo
When you are in the market for a home, it is important to identify the neighborhoods or communities of interest. If you are looking for a home in a community that you know well, you probably already know which neighborhoods you like.
For those of you who aren’t sure, determining which neighborhoods will best suit your needs will require some research. Some of the factors that will impact your quality of life include the condition of the local economy; local amenities such as libraries, parks, entertainment and shopping; schools and crime rates.
The local chamber of commerce can bring you up-to speed on the condition of an area’s local economy, inform you of any anticipated major changes, or news of any new businesses that will soon move into the area.
Pay a visit to the local police departments and ask for detailed information about neighborhood and community crime statistics. In many cases, you can ask the department about a specific street and get pertinent information about crime rates specific to the block.
Hit the streets and obtain first-hand knowledge about an area’s access to transportation, and its proximity to schools, shopping and entertainment. Chat with homeowners in the area – they can provide you with detailed information about the community that could impact your decision to settle down there.
Keep in mind that your Realtor is your number one source for neighborhood and community information. In addition to providing you with comparative market analysis data, he or she can let you know how long home listings stay on the market – which can indicate a neighborhood’s desirability.
He or she can inform you on issues and amenities specific to the neighborhoods in which you’re interested, bringing to your attention suitable neighborhoods you may not have known about or otherwise considered.
How an Agent Can Help Sellers
Your home likely is the largest financial asset in which you’ve ever invested and now it’s time to make that investment pay. Hiring a professional agent to help you with this significant transaction is the best way to ensure you will get top-dollar for the house and the widest marketing exposure possible.
Additionally, your agent is a professional who will organize and coordinate the significant amount of administrative work and help minimize your vulnerability to certain liabilities.
An agent has a fiduciary duty to work as an advocate on your behalf, representing your best interests in the real estate sale transaction, including negotiating the best terms and price for your home, and making sure the property disclosure requirements applicable to your real estate transaction have been met.
Pricing
A professional agent can help you avoid the pitfalls associated with either under pricing or overpricing your home. It is his or her job to stay abreast of changing market conditions and the factors that can affect your sale price.
Agents also can provide you with a professional comparative market analysis (CMA), which compares the list price and final sale price of like properties in the neighborhood.
Marketing
The complex and time consuming home sale entails much more than planting a for-sale sign in the yard and hosting the occasional open house. Agents use a cooperative arrangement known as the Multiple Listing Service (MLS), which combines and markets all of the home listings for sale in a given area and can only be accessed by licensed agents.
A listing agreement may include a number of marketing services including a yard sign and flyers, newspaper and Internet advertisements, brokerage community exposure and various showings.
Professional Services
An agent manages the entire the transaction from beginning to end by helping you set the best asking price, prescreening prospective homebuyers, collecting and evaluating purchase offers, handling negotiations and closing the deal.
An agent also can help you navigate the complex state-mandated disclosure laws that require home sellers to disclose certain types of information about their home.
Castro Area residents and realtors, Carolina Tapia-Urzua and Robert Incollingo, are affiliated with Prudential California Realty on Market Street. Contact Carolina at: 415-290-6762 or Carolina.tapiaurzua@prurealty.com, Robert at 415-812-1788 or Robert.incollingo@prurealty.com.
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