| Welcome to my web site. |
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Whether you are just browsing, or have specific real estate needs, I hope you find the tools and content here helpful.
Please take your time to look around, and I sincerely hope to hear from you, or answer any questions you have regarding real estate in the Bay Area.
Sincerely,
Faye Weng |
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Latest trends in kitchen cabinets
Fri, 16 May 08 00:00:00 -0700 |
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Denied short sale, struggling homeowners look for way out
Fri, 16 May 08 00:00:00 -0700 |
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Be careful what you say about landlord online
Thu, 15 May 08 00:00:00 -0700 |
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Neighbor sabotage kills home sale
Thu, 15 May 08 00:00:00 -0700 |
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Moving to a new city? Web's got you covered
Thu, 15 May 08 00:00:00 -0700 |
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Buying house before marriage can be risky
Thu, 15 May 08 00:00:00 -0700 |
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Home buyer sues when appraiser misses leaky roof
Wed, 14 May 08 00:00:00 -0700 |
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Seniors, leave apartment painting for the pros
Wed, 14 May 08 00:00:00 -0700 |
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Homeowners react to falling real estate values
Wed, 14 May 08 00:00:00 -0700 |
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Best way to divvy up house after failed relationship
Tue, 13 May 08 00:00:00 -0700 |
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Unpermitted upgrades put seller in pickle
Tue, 13 May 08 00:00:00 -0700 |
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Homeowners avoid tax on $1 million capital gain
Mon, 12 May 08 00:00:00 -0700 |
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| I am a realtor who believes in continuous education, and I am committed to perfecting my services. Here are some of the on-going awards and designations I’ve earned: |
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| Browse Blogs |
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Buyer FAQ |
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New Homes & Vacation Homes |
 Can
you negotiate the price on new homes?
Do builders give financing?
Should I buy a vacation home?
Should I hire a home inspector for a new home?
What about new versus previously owned?
What are considerations to buying a new home?
What are some new-home cautions?
What do you think of a vacation home as an investment?
What is the return on new versus previously
owned homes?
Where can I get a list of home builders?
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Question: Can
you negotiate the price on new homes?
Answer: It
can be difficult to negotiate the
sales price with a developer because
they may claim their prices are
based on fixed construction costs.
But it doesn't hurt to try.
Experts
say builders more likely to be
flexible on price at the very beginning
and the very end of a development
project. Early on, most developers
want to move people in quickly
so the project picks up momentum.
Later, developers may be more inclined
to accept lower offers when only
a few units remain.
If negotiating the price
doesn't work, buyers commonly negotiate
for better amenities (upgrade carpet,
light fixtures, etc.) or lot location.
Experts say a developer will rarely
pass up a deal over a couple hundred
dollars' worth of carpeting, for
example. |
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Question: Do
builders give financing?
Answer: Builders
often include financing programs
to help move more buyers into a project
early on. If it's a buyer's market
in your area, you can be sure that
developers will offer incentives
such as low-down-payment financing. |
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Question: Should
I buy a vacation home?
Answer: Today
a vacation home can be purchased
for investment purposes as well as
enjoyment. And yes, there are tax
benefits.
Some people buy a
vacation home with the idea of
turning it into a permanent retirement
home down the road, which puts
them ahead on their payments. Another
benefit is that the interest and
property taxes are tax deductible,
which helps to offset the cost of
paying for a second home. A vacation
home also can be depreciated if you
live in it fewer than 14 days a year,
or 10 percent of the rented days
- whichever is greater. |
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Question: Should
I hire a home inspector for a new home?
Answer: Most
experts recommend having a home inspected,
new or old. For new home, ask the
builder to provide copies of any
inspection reports on the property,
architectural plans, surveys and
pertinent construction documents
for your inspector to review. Your
inspector should either be a professional
home inspector, an engineer, an architect
or a contractor.
If you hire a professional
inspector, look for one who belongs
to one of the home inspection trade
organizations. The American Society
of Home Inspectors (ASHI) has developed
formal inspection guidelines and
a professional code of ethics for
its members. Membership to ASHI
is not automatic; proven field
experience and technical knowledge
about structures and their various
systems and appliances are a prerequisite.
Rates for the
service vary greatly. Many inspectors
charge about $400, but costs go
up with the scope of the inspection. |
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Question: What about new versus previously owned?
Answer: Although
new homes typically have a higher
sales price than comparable existing
homes, buyers are willing to spend
more upfront with an understanding
that part of what they are paying
for is assured low maintenance
costs. A builder's warranty, along
with brand-new roof, appliances,
furnace and other operating systems
that make major repairs unnecessary,
work together to counteract possible
slower appreciation initially.
Data
from the U.S. Census Bureau's American
Housing Survey suggest that operating
costs per house are lowest for
brand-new homes, slightly higher
for relatively new existing homes
but lower on average for older
existing homes. Measured per square
foot of living space, however,
operating costs are consistently
higher for progressively older
existing homes.
Utility costs
are the largest component of operating
costs. Energy consumption per square
foot depends on size of the home,
insulation, window quality, air
leakage and efficiency of the furnace.
Operating costs also include expenditures
for both routine maintenance and
major repairs. |
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Question: What
are considerations to buying a new home?
Answer: Builders
may have a target market in mind
for their new-home projects. Some
may tout communities as glamorous
to upscale urban professionals
seeking amenities such as a golf
course, hot tubs and tennis courts.
Yet a playground and swimming pool
might be central to a project geared
toward families while the next
one offers seniors a walking trail
and an easy-to-care-for yard.
Do
not be tempted to move into a "glamorous" community
where you might be able to afford
the house but not the lifestyle.
In addition, similar-looking new
houses often come complete with
restrictions imposed by the developer
on house color, landscaping, renovations
and anything else a homeowner possibly
could do to make their house deviate
from the preferred look.
Marketing
experts try to appeal to buyer's
tastes by their promoting images
for their developments. Don't buy
into it. Form your own opinions
and only buy a home where you feel
comfortable. After all, you're going
to have to live there. |
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Question: What
are some new-home cautions?
Answer: When
you buy a resale home, you can find
out a lot more about the property
and the neighborhood before you buy
than when you buy a new home.
Land to support new-home developments
usually is located on the outskirts
of town. Potential buyers should
ask the developer about future
access to public transit, entertainment
activities, shopping centers, churches
and schools. Find out how far it
is to the nearest library, for
example.
Local zoning ordinances
also should be reviewed. A rather
remote area can turn into a fast-food-chain
haven within a couple of years.
Try to ensure that the neighborhood,
if not strictly residential, will
not begin sprawling out of control. |
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Back to top |
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Question: What
do you think of a vacation home as an investment?
Answer: You
can buy a vacation home today for
investment purposes as well as
enjoyment. And yes, there are tax
benefits.
Some people buy a vacation
home to use as a permanent retirement
home later, which allows them to
get ahead on their payments. Another
benefit is that the interest and
property taxes on a vacation home
are tax-deductible.
Some real estate
experts predict that vacation homes
will appreciate in value due to
rising demand from the aging Baby
Boom generation. You also can depreciate
the property if you live in the
house fewer than 14 days a year,
or 10 percent of the number of
rented days - whichever is greater.
You also need
to consider whether you can afford
to carry two mortgages, pay for
the extra utilities and maintenance
costs, and how this investment fits
into your total personal finance
picture. |
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Question: What is the return on new versus previously owned homes?
Answer: Buying
into a new-home community may seem riskier
than purchasing a house in an established neighborhood,
but any increase in home value depends upon
the same factors: quality of the neighborhood,
growth in the local housing market and the
state of the overall economy.
One
survey by the National Association of Realtors
shows that resale homes do have an edge over
new homes. The trade group's figures show the
median price of resale homes increased4.3 percent
between 1999 and 2000, compared to 2.8 percent
for new homes in the same period. |
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Question: Where can I get a list of home builders?
Answer: For
a list of home builders, contact the National
Association of Home Builders at 1201 15th St.,
N.W., Washington, DC 20005; (800) 368-5242, nahb.org ; or your local Building Industry
Association office. |
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HOME VALUATION |
| Monitor the value of your property, get an
idea of what your home is worth today. |
 Contact
Faye Today |
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LETTERS FROM CLIENTS |
| Nothing makes me more proud and satisfied
to know that I've served my clients well. |
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All |
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FEATURED PROPERTIES |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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N/A |
| Asking Price |
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$549,000 |
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| Virtual Tour |
| Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1,434 |
| Asking Price |
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$698,500 |
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| Virtual Tour |
| Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1,024 |
| Asking Price |
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$486,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1213 |
| Asking Price |
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$535,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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3/2.5 |
| Sq ft |
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1312 |
| Asking Price |
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$775,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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Redwood City |
| Bed/Bath |
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5/3 |
| Sq ft |
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N/A |
| Asking Price |
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$1,399,950 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2.5 |
| Sq ft |
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1,254 |
| Asking Price |
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$750,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/1 |
| Sq ft |
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1,130 |
| Asking Price |
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$935,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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Redwood City |
| Bed/Bath |
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4/3.5 |
| Sq ft |
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2,951 |
| Asking Price |
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$1,626,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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S. San Francisco |
| Bed/Bath |
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4/.3.5 |
| Sq ft |
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2,783 |
| Asking Price |
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$1,275,000 |
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Virtual Tour |
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Contact Faye |
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