Promoting Our Mid-Peninsula Properties

Sally J Lau, Coldwell Banker, Woodside

Some Basic Information for Buyers

1. Internet Searching

I recommend the following sites because property information can be obtained without submitting personal data (simply ignore the pop up windows asking for that info).  Realtor.com is the site sponsored by the National Association of Realtors.  Mlslistings.com is the site sponsored by our local multiple listing service and is the best source for open house information, currently better than OpenHouse.com.  Coldwell Banker's California site is CaMoves.com.  The Coldwell Banker site provides information on all listings that are entered into our multiple listing service, not just those within the company. Coldwell Banker also has formed alliances with Realtor.com, Google.com and Trulia.com. A good non-industry sponsored site is Movoto.com, a search tool that will give you a price range search option, enabling you to learn about condos and single family residences in the same search (condos and single family residences are separate searches in most sites).  Do remember that most of these sites will attempt to get your personal information, directing you to their agent and lender recommendations. Many of their agents and lenders may not have the experience, or the backup of a solid company, and most have not formed working relationships with the local real estate community

2. Select an agent:
While most buyers today start their search for a new home on the internet, most are better served by selecting an agent well before decision making time.  Select an experienced, responsive agent who understands the market, knows neighborhoods, who respects your tastes, capabilities, and motivation, one who can help you obtain needed information about the condition of a property, schedule inspections, and help you understand the advantages and disadvantages of a particular property in which you have interest.  You want an agent who understands the contract, is a skillful negotiator, knows what to look for in disclosures, one who knows the most capable lenders, inspectors, and one who can work well with other agents. 

3. Understand agency cooperation.
Unless restricted by a seller, detailed information on each Coldwell Banker listing is submitted to our Multiple Listing Service Mlslistings.com and distributed online to all cooperating brokers and agents. The agent you choose to represent you can represent you on any available property, whether listed with his company or with a different brokerage. Due to MLS cooperation even information on properties not on MLS (office exclusives) is shared with competing agents and brokerages.

4. Find a lender.
Most experienced real estate agents can recommend highly capable and respected local lending professionals.  I recommend your seeking your agent's advice, as your lender's written approval is submitted along with the purchase contract for the desired property. Buyers need to be pre-approved, or at the very least, pre-qualified. Due to our competitive market, buyers need to be prepared to assure sellers at contract presentation of their ability to purchase. Occasionally sellers' agents request documents showing evidence of the down payment represented on the contract, or if paying all cash, proof of that liquidity.  Agents need to track and follow their clients' loan information in order to effect a timely and satisfactory conclusion to the transaction.   The first two lenders on my list are Coldwell Banker in-house mortgage consultants, who are available to help our clients at any time, and/or to provide a second opinion if desired. 

My recommendations:

1. Chad Mahoney, Princeton Capital, 650.303.3636, chadmahoney@princetoncap.com

2. Janice Reisman Fincher, Opes Advisors, 650.931.0608, jfincher@opesadvisors.com
3. Joel Spolin, Absolute Mortgage, 650.323.8200
4. Michael Kessler, Bank of America, 800.916.6123, michael.f.kessler@bankamerica.com

Please note that most of the above recommendations are mortgage brokers: lending professionals who represent many lenders or loan institutions. All of these are well respected locally and have assisted me with my clients.