73 lbs of Frozen Food 🥘🧳 Real Estate Blog

I’m excited for our new lease listing at 343 N Orange!  We just leased 345 N Orange (attached to 343 N Orange) immediately as soon as it was listed, for 7250 a month.  343 N Orange will be 6995 a month and we expect it to lease immediately.  The property is a rare side-by-side designer remodeled duplex townhome with a private gated entrance, on a grassy knoll, on quiet tree-lined Orange Dr.  The high wood-beamed ceiling step down living room with a working fireplace and stained glass accent windows opens to a sunshine infused formal dining room, which opens to a brand new starkly beautiful blue kitchen featuring brand new cabinetry, stainless steel appliances, and a breakfast banquette. There’s a powder room, laundry, and a full bedroom suite with a full bath downstairs. Upstairs features 2 extra large + spacious bedrooms and 2 fully remodeled bathrooms with built in closets + plenty of storage + so much natural light.  There’s central heating and air, and a private driveway + 2-car garage.  It’s unusual to find a pristine, remodeled, designer space with 1928 character + charm + so much sunlight, which makes this offering uniquely special.  We’re excited to show, and to find great neighbors for the brand new neighbors we just secured next door on both sides!

I’m excited that we just changed status on our listing at 206 S Mansfield to “Looking For Backup” because we accepted an offer from sweet buyers.  We’re entertaining offers from multiple interested parties on 1131 S Ridgeley and 308 Sycamore #108.  We’re in negotiations with a buyer on 507 N Mansfield and we invite any additional interested parties to reach out and jump in now!  We’ve been excitedly showing 1137 S Ridgeley at open house and private appointments and it’s a total treat to show each time!

It’s fascinating to explore the interest rate world with buyers!  We have a buyer who just got a preapproval letter from a big box lender with an interest rate of 7.375% for a 30 year fixed loan and 25% down.  Another buyer, open to depositing 1M to establish a relationship, got a preapproval letter from a big box bank with an interest rate of 5.875% with 25% down for a 30 year fixed loan.  Our big firm attorney buyer just removed all contingencies on a purchase with a 5.5% interest rate, fixed for 10 years, with 15% down and 85% borrowed.  Another attorney client can get the same rate from the same bank but at his firm, attorneys can put down 10% and borrow 90%.  Another buyer who is a client of an investment banking lender was offered a loan at 5.5% for a 30 yr fixed term.  It makes sense for buyers to shop around for the best loan product because of great variation in lending packages across the board!

The landscape in homeowner’s insurance in California has significantly changed in the recent past too.  We directed our buyer client to our talented, smart, trusted insurance agent, who took 1 day to source a great policy with Safeco/Liberty Mutual, and we had no issue getting homeowners insurance.  The listing agent, in a pre emptive attempt to be helpful to us, reached out to her multiple insurance agents and it was interesting to see that they each had a very hard time sourcing a homeowners insurance policy.  The buyer reached out to his auto insurance carrier, who asked to see a copy of the buyer’s general inspection report. Apparently, right now in California, insurance companies track all inquiries on potential claims, both by property and by claimant, and upon a sale/procurement of insurance, that claim information comes up and is factored into the sourcing of a new insurance policy.  My insurance agent told me that he advises people to be mindful of considering filing homeowners insurance claims; he says it only makes sense to file a significant claim and it doesn’t make sense to file a claim today for a few thousand dollars.

We spoke today to out-of-state heirs looking to sell a property they just inherited; their mom died at age 102 in a single family residence on a very friendly block. We love to continue seeing so much longevity in the neighborhood!!!  Tracking recent listing inquiries, 4 had a recent death and they inherited a property they’re thinking of selling, 3 were looking to make a profit on a property they bought not too long ago, and 3 were considering selling their house and leaving the area.  For tax purposes, heirs get a stepped up basis to fair market value on the date of death (and that becomes their basis in computing a gain on the sale).  Investors mostly do a 1031 exchange to roll over their gain to a new acquisition, and to pay no taxes immediately on the sale. Single filer taxpayers selling their primary residence get a 250,000 exclusion, and taxpayers filing jointly get a 500,000 exclusion, on the sale of their primary residence – as long as they lived at the property for 2 of the last 5 years before the sale.  Everyone asks about leasing vs selling their property and taxes factor into the answer.  We love going on listing appointments and answering all sellers’ questions in detail!!!!  

Because Seth and I miss our Kids + In-law Kids + Grandkids so much, 2 weeks ago (when Esti had winter break), we visited the Kids in Israel for a long weekend.  This weekend we visited the Kids in New Jersey.  Because I love to host the Kids, I cooked all the food at home each time, I packaged and froze it to travel, I defrosted + reheated + cooked at a rented AirBnB, and Seth and I hosted the kids in all the places.  I love to think of everyone’s favorite foods from home and to bring home to where they live far away.  Foods stay very frozen in the baggage compartment of the airplane and in hard storage containers everything travels perfectly!  It doesn’t taste quite like it does fresh out of the pan at home, but it’s as close as we can get for now. The very best part of the travels is all the squished cheeks + hugs + kisses from the little people.  The very hardest part is the tears all around, both big and little people, when it’s time to go.  I loved being a daughter to My Mom and I still miss My Mom every day. I love being a Real Estate Agent just as much or even more than I did 17 years ago when I started in the field. I love to be a Wife and a Mom every day.  But being in a Grandma role is to hands down experience the most magical and greatest love of all!

Wishing everyone an awesomely cozy rainy week ahead!!!!

Xoxoxoxo,
Sheri