Realty World – Bianchi & Associates

There are various stages in people’s lives. For many it is reflecting back on their first home purchase and their business career starting and then building a life for their family.

As the year’s pass and the empty nester have children that either go off to college or have graduated from college and have moved out on their own,

Now this generation of Baby Boomers is now apart of a new sub-group called “Empty Nesters.” Their new life will often include a shift of life style and priorities. This often will affect their real estate properties.

Many of my clients have decided to retire and begin traveling and therefore a large home is no longer required or wanted and they choose other alternatives for their real estate holdings. They often sell their personal residence and many have purchased investment properties that provide an income stream.

Another scenario is that they would like to help out their children and believe investments in multi-family apartment buildings provides a good niche. They can rent one of the units to their children while renting the others to help pay the mortgage or property taxes.

For others they might be on a fixed income and want to sell their personal home and decide to buy a duplex that offers them a home with little up keep in a great area and they can rent the other unit for added income. Often when clients retire they might want to sell their business and possibly their commercial office or warehouse property. Leasing is also a great option if they do not want to sell their commercial property and they can get a favorable lease.

There are so many alternatives for the empty nesters shift of life style that will impact their need to purchase, sell, or lease their personal, investment and commercial properties.

As a professional Real Estate Broker it is extremely rewarding when clients ask for my assistance in finding them alternative properties so they can embark on this new journey in their life.

In a recession or boom real estate market be assured that income property in an excellent location that is accessible to a university campus will demand higher rent.

In addition remember that professors, graduate students, doctors and engineers many international PhD students will need to place themselves and their families in apartments while attending universities in the Bay Area.

Apartment complexes both on and near a campus with locations that are accessible by city transportation will be a determining factor in the decision by a very qualified group of people who will be in the rental market.

Of course it is the responsibility of the property management company to provide the maintenance to turn the unit to be up to date with amenities, clean and ready to meet the high expectations of a very educated clientele.

Take in consideration the phenomena that has hit the California University Campuses with the dread of budget cuts. Along with the economic down turn it was amazing to visualize the rental frenzie that I personally experienced a few weeks back.

Students here at a local university were scrabbling to find apartment housing just days prior to school starting thus causing a supply and demand issue. One of high demand and not enough supply. 

Literally people were approaching others and asking if they needed a roommate and were willing to pay the price.

With the tight job market students are staying in school longer as well as many in the work force realizing they too need to return for higher education. In addition to impacted universities here in California our rental units will continue to be in high demand.

Remember when looking at rental markets close to major universities compare those rents from others in the immediate area. Location is always key in the purchase of real estate and true of mutli-family investment properties.

Graditude, smiles and excitement for your client who has just closed escrow and is moving into their new home is the reward every real estate professional feels in a job well done.

After getting to know your client or clients it is very important to really understand, listen and often help them to understand the other person’s requirements for their new home. For example one may want an easy commute while the other person wants a certain type of living preference.

The process is one where you as their professional real estate broker become the manager or even the coach as with the manager of a sports athletic team. You will bring all the players together to execute the plan and ultimately the clients will decide and choose their home that fits their requirements.

They will appreciate your expertise in showing them homes that fit their criteria and providing information regarding locations. Once that decision is made to make an offer on their new property that is when you must become the facilitator helping and assisting with the inspections, working with escrow and helping them to have their pre approval letter from their mortgage broker.

The difference of winning or losing the home often can be the direct result of the real estates professional working and coordinating all the efforts of escrow, property inspectors and following up with the client and mortgage broker to make sure the loan approval process is meeting contract dates.

Statistics are very important in analyzing most decisions. The expertise of a professional real estate broker or agent closing escrow and closing on time is a very important goal and one I always take very seriously.

 The important thing to remember whether it is your first home purchase or second look back to that purchase and remember it may have not been the perfect house for size but it was perfect when you made that house a home. It will define your tastes motivate you to work hard and be proud to call it home and most of all you build your dreams and future while living in that home.

 My personal advice is to choose wisely on the location and your life style requirements.

That is why we real estate professionals have a smile on our face as well and experience the ultimate thrill for a job well done.

Real Estate has always been my passion but when not at work I have another passion. For the past twenty-five or more years I have actively participated in a charitable organization as a committee member. I too was very involved with our children’s school sports programs both in school and in the community here locally.

For the past fifteen years I have been very fortunate to coach and be on the Board of the Los Altos-Mountain View Pony Baseball League as the Director of Fields and Player Representative. The community involvement and working with children ages’ 5- 18 years of age was very rewarding.

For many of us it is very rewarding to interact daily with business associates and clients. What I have always been amazed at is how energizing it is to stay in contact with business people who work and contribute their talents in our local community.

Everyday we are educated by the media of the local job losses, economic challenges in our daily life and our education and state budget crisis. I believe now more than ever we all need to get involved. My personal recommendation is to get involved in your local Chamber of Commerce or Rotary Club.

Just ask yourself a big question; if I personally get involved will I make a difference?

Also can I to get more educated and network with others who live and work in my same community to make my community a better place to live?

I am proud of my local neighborhood where I work and live and I enjoy meeting business associates and community leaders who inspire me by their personal dedication. When participating in these organizations you can learn and work on committees that will deal with current city planning issues. This allows all of us to help establish guidelines that will positively affect the generations to come.

At the end of the day when you look in the mirror it is very rewarding when you can say I made a difference.

Curb Appeal and First Impressions Make All The Difference so always Paint, Paint & Paint. There are a few tips when getting proposals for paining a home. One example is to simply remove shutters from the outside of the home, any facades or awnings that are damaged that will require extra preparation during painting. These simple ideas can save hundreds of dollars.

The key with interior painting is to always remove old hooks. This seems very logical but many times I see new walls and ceilings painted quickly and hooks are left in a home or even old drapes are put back up after painting. I always recommend removing old rods and dated shades and draperies. Painting or removing old dark wood paneling can brighten up the room. One inexpensive way to update a home is to remove old wallpaper and paint in warm neutral colors. Just by adding baseboards and crown molding the rooms have a more finished custom look.

Often inexpensive blinds are the answer to privacy rather than any custom shades or draperies. It gives an open appearance and gives an open feeling.

The condition of the roof and fencing is very visible and if either is damaged or needs repair it can give a negative first impression. Often a contractor can repair these items for prior to a sale or lease.

Light fixtures can be very inexpensive but having new modern light fixtures and a ceiling fan in kitchen even bedrooms is an upgrade to many homes, especially in warm areas if the home does not have air conditioning. This upgrade is essential in leasing rental properties as well.

Replacing carpeting is not as easy of a decision. Often good carpeting can be cleaned verses buying a new carpet. Remember to check to see if there are existing hardwood floors under the carpeting. If so, it may prove more economical in the long run to refinish the existing hardwood floors. Hardwood floors can be a very important amenity.

First impressions are very important so always think of approaching the front door to enter. Is the area clean and inviting? The purchasing of flowers and planting with new topsoil along the pathways can give everything a fresh look. Well light properties give a warm inviting home feel so purchasing outside light fixtures can be another inexpensive upgrade.

Most people are proud of all their collectables and family pictures. The reality is that these items add clutter to a home and often the potential buyer cannot see pass the items and enjoy the amenities of the home. One great idea for the seller is to remove personal items, utilize existing

furniture and remove large pieces of furniture that take up room. A staging professional is great at advising those items to remove and ways to accessorize with a few paintings to prepare the home for the open house.

Remodeling is a personal assessment and with each property up to the seller. New Energy Efficient Windows can add value to a home and may be necessary if current windows are not functioning properly.

I am a firm believer that a roof inspection at minimum should be done prior to listing the property. I recommend the seller have all inspections done including termite and property as well as roof. This way both the seller and the buyer are aware of the condition of the property and therefore no major surprises will occur during the close of escrow.

My suggestions are basic recommendations that have proven to be successful time and time again.

It appears that in every city we are currently doing business in we are seeing real life domino effects when a city changes and enforces new policies.

One example recently was a client requesting me to find him commercial space in another city due to a very hefty water usage surcharge that was having a negative financial impact on his daily business. The result was to move out of that city and change the location he conducted his daily business and thus having to lay off several employees.

Another city is thinking of adding a business license tax and although most cities already have this requirement it will bring added cost to business owners who are currently feeling the economic crunch. If approved the tax will be a fee-based type of tax with surcharges according to the number of employees, units if an apartment building and square footage if a commercial business. Even the large non-profit organizations will be charged per employee if this business license tax is approved.

The other day I observed the closure of a government office two-days a month due to budget cuts thus slowing the process and ease of doing business in that city.

Another city has imposed extra costs associated with garbage pick up A local apartment owner had to incur added charges as a surcharge was being placed per garbage can to come on the property to remove. This was in addition to the regular garbage bill that the residents are paying. The resident would have to pay the surcharge or remove the cans to the curb each week. The owner did not want to impose this surcharge on the residents and then have to police whose garbage can was assigned to what unit and then expect them to bring the cans curbside.

Just ask anyone and they will tell you that we all need to be connected 24/7 to clients, associates and friends. Immediate access adds credibility and professionalism. At a touch of a screen on your phone you can e-mail, talk and have your Blackberry navigate you to meet a client at an appointment and on the way direct you to a Subway so you can grab lunch on the way

Our world looks like something out of a Jetson’s T. V. show of the past.

But, perception is critical in our business world and that may hold the key to our success for us in our daily transactions. Our immediate response to questions will add to our credibility and confidence to those we are dealing with on any transaction.

Recently I was involved in two transactions where I was representing first time homebuyers on the purchase of their homes. These clients had two different loan officers both were equally qualified and very professional and I knew they would both get the job done.

I noticed that one of them responded to my e-mails immediately and I felt in control of the situation. Her quick response added credibility and professionalism in my eyes.

I knew from experience both buyers would be approved and close on their homes but the availability and quick response from the person utilizing a Blackberry made my job easier thus allowing me to be more efficient.

Technology often takes away from the personal touch and personalized service but I am a believer now that I have a Blackberry that allows me to communicate more effectively with everyone that I am doing business with and therefore they have a pleasant experience.

Our Realty World Slogan is “Envisioning the future of real estate and embracing the changes”, and technology like the Blackberry has changed the way I do business.  I believe I am making a difference in others lives with a positive experience.

When a friend asked the other day, what are your best memories of the Fourth of July? My reply came very easy as I drifted back over the decades to my early childhood.

The celebrations were at a local park called Blackberry Farm in Cupertino. We would spend hours in the pool, playing games where I would always win a free Italian Salami. Then came the best part when families would just sit for hours on the picnic tables talking and enjoying each other while a few would BBQ. At the end of the day we went home and then the neighbors would all meet in the streets with fireworks and sparklers.

As the years passed the traditions stayed the same and sometimes the location would change. From Cupertino we went to Palo Alto and the years passed and soon we were old enough to enjoy our own celebrations.

The fireworks were always great on Clear Lake, California and after boating and skiing we would stay at Konocti Harbor Inn and have BBQ’s once again.

Traditions of fire works and BBQ’s always stayed the most important traditions. As the children grew up we made a new family tradition to go to Reno, Nevada and just watch the downtown hotels send off the beautiful display of fireworks from their rooftops. All celebrating another year of our country’s traditions.

Our venue once again changed with the event of sports and All Star Tournaments that always were played on the Fourth of July. So once again as the generation before us had had their special BBQ’s with family and friends, we too now celebrated with our baseball families. The kids played in the pool, shot hoops and had fun while the adults cooked a great BBQ for them.

I think that traditions make our country special and I’m sure everyone has their own special memories.

Have a fun Fourth of July Weekend.

College students need to work during the summer and like many millennial this generation utilizes the Internet and often they search online to find that job

opportunity for summer work. Many of us from the baby boomer generation found work in our local neighborhood. This generation of students is faced will different challenges they are competing for jobs with many who have experience and have lost their regular jobs in a rough economy. The other issue is that many are just home for three months and will return to colleges outside the area. They are faced with a difficult time to find summer employment.

So we need to educate these trusting students many of whom have just began working to help pay for their education. My friend’s daughter was about to reply to e-mail for a nanny position that she thought sounded interesting and she was very excited to respond and take the job.

She did say she thought the way the payment would take place sounded unusual from other jobs she has had in the past few summers.

With experience in posting our rental properties on the Internet, I too had a similar response to one of our rental ads in regards to how payment would occur.

The person sounds very sincere in their e-mail and in her case a father wanted a qualified nanny to watch his son every afternoon while the mom was recuperating from an illness. It sounded interesting and she loves watching children, but he specified how payment would be sent. The cashier’s check would be $500 over the agreed compensation and she would in return need to mail the extra money in a form of a cashiers check and mail it to a specific location.

I explained that this was not the correct way to be paid and from others getting this type of e-mail as well as myself I knew this was a scam. We try to protect our children by always stressing safety but how do we educate them against people who can take advantage of them financially. My friend instructed her daughter to never give home addresses, social security information and try to find work from a company that we can verify is legitimate. In the case of the nanny position she should only take a position if she meets the people and checks references from the people who have worked for them in the past.

She decided not to respond to the e-mail and realized that this was a scam. She will continue to look for a summer job.

Real Estate will always be a great investment here in the Bay Area.

When you have an “A”, location with a well-maintained apartment building you can rent in these difficult times.

People are very educated and know what they want and often it is the reason they come here to California and especially to the Bay Area.

With a building just a few miles from Stanford University we see very intelligent people from all over the world who come to learn and work here locally.

Flexibility and good common sense says that when the market you are in demands creativity because of the individuals in your market having creative work schedules you to must meet their demand.

Our conventional leases have always been One year with an option to renew for another year if both parties are happy with the lease.

We now find a very interesting situation that worked out extremely well at one of the properties.

The unit was beautifully remodeled and we had multiple offers for people who wanted to begin renting in early July. Instead of remaining vacant and without income for two months we decided to approve the tenants for a shorter time period.

The applications were taken and everything checked out house according to our house rules and we rented the apartment.

Our success story is that going out of the box and meeting the requirements of your target market you to can be very successful in a challenging economy and rental market.