It’s not just a film title, it’s playing out in our society, politics, economy, housing market, and my business. First and foremost, my business is doing very well and I am extremely grateful to my clients. I’ve sold three homes this year, I have two more in escrow and I have at least another three coming in the next 60 days. There are times when nothing is happening in real estate. Then there are times like now, when everything is happening. This is that time of year, the beginning of spring, when things typically comes together. Fortunately, all my listings have been and continue to be spaced out and quite manageable.
The stock market on the other hand doesn’t seem so manageable these days. It makes me wonder if we’ll start seeing a migration of money from equities into real estate as we have in the past when stocks go down? I’m thinking we might not see that dynamic in California. This week I spoke with a out of state gentleman who I’ve been in touch with now for the past six months or so. He has tried and been unable to sell his vacant Marin house twice already (with other Realtors) and he can’t see lowering the price to what the market will bear. In any other state he would likely rent it out. He is wisely weary of taking on tenants in California. Tenant rights are scary strong, I can tell you from first hand horror story experiences. That’s why I’m not a landlord which is a shame because I’d love to build more wealth through real estate. I simply don’t want to be a landlord and potentially deal with costly and time-consuming tenant issues. But I digress. The gentleman I’m writing about will retain ownership of his vacant house until his property value increase several hundred thousand dollars or his needs change. It could take a few years. From what I can tell the property has already been vacant for almost three years. I asked him to call me next spring and we’ll reassess the situation.
I am very excited about my new listings! I really, really want to write about them but I need to wait a week until divulging more information about the first one. What I can say now is that my talented contractor Sergio Espinoza who owns Marin Home Remodeling is finishing up a very extensive remodel. Floors, walls, baths, kitchen, electric and plumbing have all been done! The house feels like it’s brand new, and looks like it should be featured in a magazine. It’s really spectacular!
This week I committed to getting my pool redone. It’s going to be expensive, but at my age if I do it now, I likely won’t ever need to do it again. If I ever sell my house the pool will enhance rather than detract from the value. When I bought my house, the last thing I wanted was a pool. It’s a lot of extra expense. However, my house was in pretty bad shape when I bought it which allowed me to put some sweat equity into it. I couldn’t afford a nicer home at the time, and settled for what I could get. After eight years the house is no longer a fixer. And every spring and summer I’ve been swimming in the pool. Not because I love swimming, but I’ve come to enjoy it and it’s good for me. Take it from me, if the house you want has a pool you don’t want, don't make it a deal breaker. I didn't, and I don’t regret it.