Summer days are winding down, and it’s back to school (or off to new ones) for students. Whether still in school or not, we’re never to old to learn, and in light of this, Perisson’s next seminar will be “Smart Homes, Smart Humans.” More details on this later in the newsletter, but first a quick update on how the real estate market is doing in our area.
Real Estate Market Update
“Is the market softening?” This is a question we’ve been hearing more lately as people are wondering if perhaps the demand for homes seems to be declining and with this, fewer offers, lower sale prices and longer days on the market. A look at the numbers would indicate this is not the case. Although sale prices in July decreased slightly compared to June, this is consistent with seasonal summer trends, and prices are still showing significant increases compared to last July. More importantly, for closed sales, the number of days it takes for a home to get into contract is continuing to average at less than two weeks in San Mateo & Santa Clara counties for single family homes, condos and townhomes.
Intuitively and “on the ground”, however, it does feel a bit less frenzied lately. Open houses are still quite active but the number of offers received is more frequently less than ten and in some cases, only one or two, as opposed to 15+ that was not uncommon in the recent past. Whether this is due to seasonal trends or to a “softening” or slowing market will become clearer as we enter the fall selling season, which usually experiences a bump before people start shifting their focus to preparing for the holidays and the end of the year.
A look at the numbers…
Smart Homes, Smart Humans
Year after year, there seem to be an endlessly increasing number of new gadgets to help manage one’s home, whether it be smart thermostats, home security systems, voice-operated (or remote) entertainment and lighting systems and so on. While there is no set criteria for qualifying a home as “smart”, the fact remains that many people are choosing to incorporate technology into their homes due to the convenient (and just plain fun) these devices can provide.
Unfortunately, as with most things, a smart home has its advantages and disadvantages, and it’s important to think carefully and make smart decisions when investing in technology for the home.
Here are some advantages to having a smarter home:
- Convenience: Having different devices programmed to your specific needs can save time and energy, and being able to control your home regardless of your location can be extremely beneficial.
- Customization: With so many products on the market, you can choose which devices make the most sense for your lifestyle.
- Security: Smart home security systems can allow you to view your home when you are away, see when visitors approach your door, and notify you if anything is out of the ordinary.
- Energy-efficiency: Having the ability to control your thermostat, HVAC systems, lighting, etc., will likely help save money on your utility bills. There are also smart sensors which can help detect leaks in plumbing or gas lines.
Here are some disadvantages:
- Cost: While many devices have become more affordable over the years, they can still be quite costly and those costs can add up.
- Learning Curve: Smart technology has become easier but still requires some getting used to, especially for those who are not as tech-savvy.
- Reliability: A smart home will be extremely reliant on your Internet connection. If your connection drops, you may be left with a useless product.
- Security: Having your home connected to the internet may also leave you more susceptible to hackers who may get into your system and use the information to learn more about your lifestyle and habits.
Join us for our next seminar, “Smart Homes, Smart Humans” on September 19th as we discuss this topic in more detail. We will have guest speakers from Brilliant, a local company that provides smart light switches to integrate all the smart features in your home, as well as SymbioSystems, which specializes in cybersecurity. We are expecting a large turnout for this interesting subject, so be sure to sign up at the link below.
You’re also invited to our last seminar of the year, which will cover Proposition 5 (aka the People’s Initiative to Protect Proposition 13 Savings) on this November ballot. This is an initiative to allow homeowners who are age 55+ or severely disabled to transfer their property tax base with them if they sell a home and purchase a replacement property anywhere in the state of California. More to come on this in next month’s newsletter, but please save the date and you’re welcome to sign up in advance for this one.
September 5th – Smart Homes
October 17th – Proposition 60/90
All of our seminars will be held on Wednesdays from 6:30 – 8:00 pm at the Borel Estates Building, 1700 S. El Camino Real, San Mateo, CA 94402.
The seminars are free, but seating is limited, so make sure to reserve your seat by contacting me directly or by signing up online at: https://tinyurl.com/perisson2018.
Looking forward to seeing you there!
Introducing a new section to our newsletter! Every other month, we will feature a helpful tip or reminder for our real estate investors (or those thinking about becoming one).
For this month, we are happy to announce that Perisson Real Estate, Inc. will now offer property management services within San Mateo and Santa Clara counties!
Contact me to learn more about how we can assist you.