September 2024 — Houses By Sarah Schisler

News from Sarah Schisler

Hello << Test First Name >>!

I hope you are doing well and had a great Summer filled with downtime & adventure! I just returned from my 19th Annual End of Summer Lake Shasta Houseboat weekend. The water conditions and weather were the best in years! A short break from learning & understanding all the new changes in our industry was appreciated.

In case you haven't heard, there have recently been significant changes to the paperwork and practices for buying and selling real estate. This isn't just a regional change, these changes have been implemented nationwide. Historically, both the Buyer's and Seller's Agents' compensation (the new term for commission) was determined in the listing agreement. Now, they are determined separately, and only the Seller’s Agent’s compensation is specified in the listing agreement. As of August 17th, Buyers Agent’s compensation is no longer allowed to be posted in the MLS, and therefore, that information is no longer available when searching listings online.

Buyers will now be asked to sign an agreement at the beginning of their home search journey, before touring homes together. If you have previously bought or sold a home with me, this may seem different but don't worry. We will work out an agreement that feels comfortable, as always. Change can often feel overwhelming, but it honestly won’t feel all that different once you clearly understand the changes.

What does this mean in practice? Compensation is now a common point of negotiation when submitting an offer. Buyer & Seller can still agree, during contract negotiation, that the Seller-side will pay both agents. In most cases, I believe Buyers & Sellers will still find it advantageous for the Seller-side to pay both Agents’ compensation and we can discuss this in more detail. The other option is for the Buyer to pay their Agent's compensation and reduce the purchase price accordingly. Which side the Buyer’s Agent’s compensation comes from is now determined by the ratified offer terms and is still handled through escrow. If this sounds confusing, I’m happy to explain it further when we chat or meet!

If you visit us at an open house or walk into any open house in the future, you will encounter some new disclosure paperwork that you may be asked to sign. As always, be sure to read what you are signing. I am happy to answer any questions you have! Feel free to reach out anytime!

Questions?

View Invitation!

Photos from our previous Lake Temescal Fiesta!

Market Update

On Wednesday, September 18th, the Federal Reserve enacted its first interest rate cut since the early days of the Covid pandemic, reducing the fed rate by half a percent. This lowers the federal funds rate to a range between 4.75%-5%. While the rate sets short-term borrowing costs for banks, it eventually spills over into multiple consumer products such as mortgages, auto loans and credit cards. The last time the FOMC cut by half a point was in 2008 during the global financial crisis.

For the Full CNBC Article Click Here: https://www.cnbc.com/2024/09/18/fed-cuts-rates-september-2024-.html
*The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates.

Source: CNBC, Jeff Cox , https://www.cnbc.com/2024/09/18/fed-cuts-rates-september-2024-.html

Percent Change in Home Prices Over the Past Year, by State:

Historical Mortgage Rates - September 2024

Source: Freddie Mac’s Primary Mortgage Market Survey®.

If you would like a detailed Real Estate Market Analysis in your area or are curious about your home's value, click the button below!

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Are you curious about the costs of Buying or Selling a Home today?

If you would like more accurate numbers please reach out! We can put some scenarios together for you!

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AVAILABLE HOMES!

For Off-Market & Coming Soon Opportunities - Click here to inquire!

APPRAISAL TIPS

I often get asked if Price Per Square Foot is a good metric when determining the value of a home.

A local appraiser, Anthony Young, explains it well! (see below quote).

"The use of price per square foot as a relevant metric is only applicable when you have control over the data and can compare similar properties. Price per square foot takes into account various factors such as building size, lot size, lot utility, view, and condition. It's important to consider economies of scale when looking at price per square foot. Larger houses typically have lower price per square foot, while smaller houses tend to have a higher price per square foot. For example, if a client is comparing a 3,000 square foot house with comps for a 2,000 square foot house, it's important to note that they may not attract the same buyers and there may be difference in economies of scale. While price per square foot can be used for casual conversation, it should not be solely relied upon for determining offer or list prices."

- Anthony Young, Appraiser

What are good metrics for understanding property values and market trends?

Let's Discuss!

Need A Vacation (Rental)?

Developing an investment property strategy with clients to meet their financial goals has been a very rewarding part of my business. Some clients decide they want to focus their search on purchasing a condo or multi-unit for rental income, while others make the decision to search for the perfect vacation home which can either be enjoyed or rented to guests when they aren't using it. If you are considering an investment in real estate, let's meet to discuss your goals and the various options. I'm happy to share insights and recommendations.

**We are planning to feature a vacation home managed by people we know in our newsletters.

If you have a vacation home you would like us to feature please reach out.

Bear Cub Cabin, Twain Harte, California
Ideal for family vacations or company retreats!

Bear Cub Cabin is a large family friendly knotty pine cabin located up in the beautiful Sierra Mountains of California. Bring your family or friends up to enjoy the fresh pine mountain air. Spend time at Twain Harte Lake or Pinecrest Lake in the Summer or ski at Dodge Ridge in the Winter.

The yard and back deck are fully enclosed, making it easy to let your little ones run around! We have a playhouse, slide, water table, basketball hoop, beach toys, and an adjustable height net to play badminton. The back deck is fun for all ages: HOT TUB, hammocks, fire pit, and BBQ.

Enjoy the clean mountain air!

Book our Featured Twain Harte Bear Cub Cabin!

Community ~ Berkeley at it's Best

Berkeley! Authentic experiences and activities to engage, expand, entertain, and enthrall - Here are suggestions:

F amily friendly kid activities like the Adventure Playground or the Habitat Children’s Discovery Museum.
Visit our UC Berkeley resource for ideas on must-see sights while touring the Cal Berkeley campus. You may even discover a few Cal Secret Spots!
Experience a rich arts and culture scene by catching a show in the Downtown Arts District or admire visual art at the Berkeley Art Museum & Pacific Film Archive.
Stop by the Berkeley Visitor Information Center and allow our visitor specialists to share fun things to do and see while you are in town.
Telegraph Avenue is in many ways the soul of Berkeley. It's also a district filled with great shops and restaurants. Take a walk with us!
Tilden Park: As one of the East Bay Regional Park District’s “OG” parks, Tilden occupies a special place in the heart of many Berkeley residents, a symbol of the city’s accessibility to nature and commitment to environmental sustainability.
Fun With Science: Since long before STEM learning (science, technology, engineering and math) rocketed into the public consciousness, the Lawrence Hall of Science has been a favorite destination for Berkeley locals and visiting families.

Featured Local Business

OLIVIA SMARTT PHOTOGRAPHY

Weddings, Engagements, Bar/Bat Mitzvah, and Albums // Email: olivia@oliviasmartt.com

Olivia is the AMAZING photographer that captured our wedding! She is there for the real moments, events, weddings, and Bar/Bat Mitzvahs! Take a look at her extensive portfolio and reach out to Olivia if you're in need of an incredible event photographer!

Check out our growing list of Featured Local Businesses by clicking the button below!

*Would you like us to feature your small local business?
Please reach out to learn about being a future "Featured Business."

See Our List of FAVORITE LOCAL BUSINESSES

As always, our team is here to be your real estate resource. If you or anyone you know is considering buying, selling, investing, or renovating a property I am always happy to offer advice and resources.

Even if you are just starting to dream about your next move or an investment property, let me help get you started. Let's dream together! I am here to offer help through every step of the process!

Being a part of Keller Williams VIP Properties, one of the largest real estate brokerages in the country, makes it easier to help you and anyone you know find great agents anywhere in the country or even the world. Let me help you vet them first!

Talk with you soon!

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SARAH SCHISLER
REALTOR® DRE#01322781
(510) 390-1330
Sarah@HousesBySarah.com
www.HousesBySarah.com

Keller Williams VIP Properties
1865 Pleasant Valley Ave, Suite A | Oakland, CA 94611

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