February 9, 2024 • 24 mins
Embark on a journey through the competitive landscape of Silicon Valley real estate with none other than Russ Sadykhov, the savvy CEO of Team Russ Homes, who joins us on Tile Trends to share a treasure trove of insights for prospective homebuyers and sellers alike. Discover the fusion of analytical acumen, construction knowledge, and market expertise that Russ and his team offer, lighting the way for first-time buyers to navigate the thrilling yet daunting pursuit of homeownership. We delve into the pillars of a smart purchase – from locking down the ideal location, to securing financial footings, and envisioning a home that evolves with your life’s chapters.
As we peel back the layers of what it takes to craft an irresistible offer in a seller's market, we also spotlight the subtle, yet powerful influence of tasteful finishings, such as tile work, in captivating a buyer's heart. Russ imparts wisdom on the art of presentation, revealing how neutral design choices can vastly widen a home's appeal. With our finger on the pulse of Silicon Valley's unique market, we contrast local real estate movements with national trends, examine the ripple effects of economic shifts, and ultimately affirm that investing in a home transcends dollars and cents—it's about anchoring your dreams in a space you can truly call your own.
LINKS:
Website: https://teamrusshomes.com/
Instagram: https://www.instagram.com/t.r.homes/
Facebook: https://www.facebook.com/TeamRussHomes/
LinkedIn: https://www.linkedin.com/in/rustamsadykhov/
Zillow: https://www.zillow.com/profile/South-Bay-Realtor/
PIXABAY LICENSE CERTIFICATE
==============================================
This document confirms the download of an audio file pursuant to the Content License as defined in the Pixabay Terms of Service available at https://pixabay.com/service/terms/
Licensor's Username:
https://pixabay.com/users/sergepavkinmusic-6130722/
Licensee:
u_3zounzgtgt
Audio File Title:
Summer Adventures
Audio File URL:
https://pixabay.com/music/corporate-summer-adventures-115949/
Audio File ID:
115949
Date of download:
2024-02-10 03:15:24 UTC
Pixabay GmbH c/o Lacore Rechtsanwälte LLP
Berliner Freiheit 2, 10785 Berlin, Germany
Pixabay is a user-contributed stock content website. The above-named Licensor is responsible for this audio file. Pixabay monitors uploaded audio files only to a reasonable extent. Pixabay cannot be held responsible for the acts or omissions of its users and does not represent or warrant that any required third-party consents or licenses have been obtained.
For any queries related to this document please contact Pixabay via info@pixabay.com.
Music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/prigida/mellow-bop
License code: DMOG7RNGEPGMIPJH
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Lindsay Fluckiger (00:00):
Welcome to season two of Tile Trends by
Tile Club.
We're back with a fresh newseason and I'm your Lindsay
Fluckiger, .
Get ready for an exhilaratingjourney through all things tile,
real estate and home design.
We're ecstatic to bring you allnew special guests and a fresh
perspective on the latest trends.
Today we're kicking off withnone other than Russ Sadikhov, a
(00:24):
renowned realtor and CEOcelebrated for his unparalleled
expertise in the Silicon Valleyreal estate market.
Let's dive in, russ.
It is so wonderful to have youwith us today on the show.
How are you?
Russ Sadykhov (00:37):
It is wonderful to be here, lindsay, I'm doing
great.
Lindsay Fluckiger (00:40):
Fantastic.
Can you tell us a little bitabout your agency, where we can
find you?
We want to make sure that we'resending listeners your way, who
may be local to California oreven to Silicon Valley.
Russ Sadykhov (00:51):
Awesome.
Yeah, thanks for asking thatquestion.
So Team Russ Homes is the nameof our team.
There are three active agentson the team myself, Ronnie Cope
and Jessica Alves.
We all have our unique talentsand we are all of a very unique
character.
Myself, I am very analytical.
(01:13):
I like to really dig deep intothe numbers, so I tend to work
with a lot of investors.
I also tend to work with a lotof sellers.
Ronnie is a very relatableperson.
He's the kind of person thatyou can really tell all of your
needs and rest assured that he'sgoing to execute on them.
So when we're talking aboutbuying a home or selling a home,
(01:35):
ronnie is the person out therein the field showing your homes,
telling you about the pros andcons of every property.
Ronnie also comes withexperience in the construction.
So when we were talking aboutfloor plans and we're talking
about doing certain changes ormaybe adding a backsplash or
installing that beautiful tile,ronnie would be the person to
(01:58):
talk to.
And Jessica on our team.
She's just full of energy.
She is extremely, extremelywilling to help and she's super
knowledgeable in the SiliconValley market and she works with
.
She's originally from theCentral Valley and we're now
seeing the Central Valleygrowing significantly because of
(02:19):
its attractive price points.
So Jessica would be a go-to forCentral Valley needs as well as
Silicon Valley needs that sheis knowledgeable in both.
So we're seeing her help a lotof investors and a lot of first
time home buyers purchase inhomes, purchase in areas in
Central Valley like Tracy,modesto, turlock, merced and,
(02:41):
like I said, those areas aregrowing tremendously right now.
I'm super humbled to be the CEOand the team lead, with over a
decade in real estate experience.
We are operating under theumbrella of Coldwell Banker, so
in addition to being a broker ofa team, we also have that
(03:04):
backing of a very well known anda very long standing and
trustworthy corporation that hasthe legal team behind it and
that has the transactioncoordination team behind it and
make sure all the eyes aredotted and teeth are crossed.
So we welcome anyone who islooking to buy or sell and
(03:28):
welcome answering any questionsyou may have about the real
estate market.
Lindsay Fluckiger (03:32):
Fantastic.
We will definitely includelinks to your social, to your
website, any information thatyou think would be pertinent for
our listeners that would liketo get in touch.
We would love to hear moreabout you and how real estate
has become a passion for you.
Russ Sadykhov (03:48):
Yeah, absolutely Well.
I entered the real estateindustry during a really
challenging time, right.
It was the aftermath of thesubprime mortgage crisis, and
many realtors were leaving themarket, which was flooded with
bank owned and distressedproperties.
This was 2010.
It was precisely during thisperiod that my passion for real
(04:09):
estate really ignited, due to apersonal story that I may share
later.
I really saw beyond thosechallenges.
I saw the opportunity to bepart of people's lives during
this significant moment of theirreal estate journey, and that's
when I realized real estate ismore than just a transaction.
It's being there for people'sweddings or helping families
(04:32):
find their perfect home fortheir growing needs, and
supporting my clients throughjob changes.
And so I found a deep sense ofpurpose in guiding individuals
and families through thesetransformative moments, and I
feel truly humbled to be part ofmy client's lives during these
critical transitions.
Lindsay Fluckiger (04:50):
Thank you so much for sharing that.
It is, for sure, a verypersonal journey, and I love
that.
You've been able to develop apassion and love for your
clients and helping them findtheir forever home.
So, russ, you've built aremarkable career since 2010,
helping countless clientsnavigate the real estate world.
We would love to jump into someessential questions for our
(05:12):
listeners, especially thoselooking to buy or sell homes.
So, for first time home buyers,what are the top three factors
they should consider whensearching for their ideal home?
Russ Sadykhov (05:24):
Yeah, that's a great question.
You know for first time homebuyers, everything starts with
location and you wanna find outwhere you wanna live first,
because real estate journeystarts with your lifestyle.
And once you determine yourlocation, you wanna determine
your price range and connectwith the real estate lender who
can get you a pre-approval sothat you're not looking for
(05:45):
homes above or below your idealprice range.
And finally, you wanna consideryour growing needs.
Real estate is not a one monthor even a one year endeavor.
Real estate for most people isa seven to 10 year endeavor.
So you wanna look long-term.
You wanna kind of envision whatyour family is gonna look like
in seven to 10 years.
Are you anticipating familygrowth?
(06:06):
Are you anticipating any jobchanges, those kinds of things?
So looking into the future andmaking sure that your home
accommodates those future needsas well.
Lindsay Fluckiger (06:16):
Wonderful insight.
In a competitive market likeSilicon Valley, where you are
located, what strategies do yourecommend for buyers to make
their offer stand out?
Russ Sadykhov (06:26):
Another great question.
It's so competitive in SiliconValley and buyers often struggle
with the ups and downs ofemotional roller coasters of
submitting their offer and notknowing whether their offer gets
accepted or not due to such acompetitive market.
So there's a few things thatyou can make your offer stand
out.
First of all, you gotta getyour financing in order, just
like we talked earlier.
(06:47):
Get together with your lender.
Make sure that your loan isfully underwritten.
We also work with a few vendorsthat help our clients get a
pre-approval with a cash-likeoffer.
So the stronger your financinglooks on the offer, the stronger
your chances of getting youroffer accepted.
(07:08):
Secondly, you want to make otheroffers offer terms stand out.
Check with the seller's agentand find out what are other
things that are important to theseller.
Maybe the seller needs a rentback.
Make sure to incorporate a rentback into your offer.
Maybe the seller wants to takethe appliances with them.
Sometimes it comes down tolittle things like that you
won't believe it and making surethat you take those things into
(07:32):
consideration and lay them allout very clearly into the offer.
It goes a long way in makingyour offer stand out and we've
seen a lot of times our offersget accepted even though they're
not the highest offers in termsof price.
Lindsay Fluckiger (07:46):
Wow, russ, that's all great information.
Thank you for that insight.
Shifting to sellers what aresome common mistakes homeowners
make when putting their house onthe market and how can they
avoid them?
Russ Sadykhov (07:58):
So there are a couple of things that sellers
can do.
While simple things, a lot oftimes they do get overlooked,
and the first thing isoverpricing.
No matter how great the marketis, you never want to overpric
your home, because everybody hasaccess to the data nowadays and
buyers can do the research andfigure out whether your home is
(08:18):
priced competitively or if it'soverpriced.
And even in a competitivemarket that we have like today
in Silicon Valley, if your homeis overpriced, it can actually
sit on the market withoutgetting an offer.
So overpricing is definitelyone of those pitfalls you want
to avoid.
Secondly, presenting your home.
(08:39):
Once you've priced your homecompetitively, the presentation
matters a lot.
I used to say 99% of homebuyers start their home search
on the internet.
Well, I think that percentageis 100% now.
Everybody starts their homesearch online.
So how your home is presentedplays a crucial role, whether
that buyer is going to show upat the open house or set a
(08:59):
private showing.
So, making sure that youdeclutter your home, remove your
personal items and make yourhome as neutral as possible and,
furthermore, work with an agentthat provides services and
works with a professional stagerand gets your home fully staged
, as staged homes sell a lotfaster and for more.
Lindsay Fluckiger (09:21):
It's amazing how much technology has changed
the market in ways, so it's funto hear your perspective on that
.
You know that our podcast isTile Trends by Tile Club, so how
crucial is the choice of tilesand other building materials and
influencing a buyer's decision?
Russ Sadykhov (09:39):
I actually have a very interesting story about
that.
We just recently had a buyerthat was touring nuclear
construction in nearbydevelopment and they were
touring exact same model indifferent locations.
So two different homes, exactsame model.
The differences were thefinishes and you know, when you
(10:01):
brought up the question of tileand wall coverings, it's such an
important factor when selectinga home for buyers.
We found in Silicon Valley andthe first home that the buyer
toured had that standard 4 inchcountertop back splash extension
which looked nice.
And you know buyers definitelyliked the location and they
(10:24):
liked the development and theyweren't really excited about the
finishes but they liked all theother factors about the home.
Now fast forward 10 minutes.
They walk into the second modeland the second model has a full
wall back splash, hexagon whitebacksplash and nicely tiled all
the way up to the stainlesssteel vent hood and it was like
(10:49):
looking at a completelydifferent home.
The buyer got so giddy and soexcited that you could see the
spark in their eyes and thesmile was ear to ear and they
were.
You could see how they wereenvisioning themselves living in
the home and opening up theirlaptop on the big island and
enjoying that vibe that thekitchen provided.
(11:10):
So I would say that definitelythe finishes do matter and tile
is a big part of that because,you know, tile is such a big
part of so many finishes.
You put tile on the floors, youput tiles on walls on and your
shower enclosures in yourkitchens and your backsplashes,
(11:32):
and you could do so manydifferent designs with tile.
So the more well designed homeis, the more chances that the
home will sell and it'll sellquicker and for more.
So in the case for our buyer,they actually ended up pulling
the trigger on the secondproperty and they ended up
(11:54):
paying tens of thousands of morefor the second home because of
those finishes, and they werehappy to do it.
Lindsay Fluckiger (12:00):
That's incredible.
How crucial is it to keep tilechoices while coverings or
paints neutral.
Russ Sadykhov (12:09):
It's very important to keep things neutral
.
Neutrality is what we usuallygo for when we present a home,
because neutrality is kind oflike a blank canvas and that's
ultimately what a home shouldpresent to a buyer, because
every buyer has a certainpicture in their mind of what
(12:31):
their home is going to look like, because they have their own
furniture, they have their owncolors that they like to be
surrounded by.
So having neutrality issomething that we work really
hard on with our designer andour stager.
That helps us prepare all ofour homes for sale.
But that doesn't mean thatneutrality is simple.
(12:55):
Neutrality actually takes a lotof thought and work behind it.
There are certain colors thatwork well together and there are
certain colors that don't.
So creating neutrality isreally crafting that special
blend of colors that the buyercan then take and bring their
(13:15):
own design on top of that andlayer it to really create their
own space.
Lindsay Fluckiger (13:23):
Fantastic.
Growing up, my mother kept allof our walls white.
We could not paint the walls.
She would not let us customizeour room or things like that.
And she's like no, when we sellthis house, it's got to be
white so that a buyer will walkin and just be excited.
So for 10 years we lived inthis home and she was right.
The week it was put on themarket that was one of the first
(13:46):
things that everyone that putin an offer.
They're like we just love it.
It's this blank canvas.
So, to our dismay, she wasright.
On that note, I would love tomove on to talking about staging
.
You mentioned that homes thatare staged tend to sell faster
and better than homes that arenot.
Do you have any quick,effective staging tips for our
listeners today?
Russ Sadykhov (14:07):
You know, I wish I could call myself a staging
pro, and I'm not.
I really focus on what I dobest, which is helping our
clients get the best of everyservice possible, and that's why
we work with the best in theindustry when it comes to design
and staging, and we've workedwith Melanie at iDesign Staging
(14:28):
for over a decade now and she'sabsolutely fantastic.
We have her involved in everysingle one of our projects and I
do believe that, you know,leaving things to professionals
is really the best service youcan do for your client, and
therefore we have a partnershipwith our staging company and
(14:50):
have them look at every singleproject before we begin, get a
detailed list of improvements,and those improvements a lot of
times include, like you said,like paint.
If a client has a green wallwith an electric yellow
substance to it, you know youdefinitely want to correct that.
Simple yet very effectiveupgrades go a long way in
(15:15):
helping our clients get topdollar and also sell the
property in a faster time.
Lindsay Fluckiger (15:20):
So, as far as layout and interior design, are
there any potential red flagsbefore putting their home on a
market?
Russ Sadykhov (15:29):
Yeah, great question.
You know, certainly things needto flow and the buyers are
going to pay attention to that.
And if your home has flow, it'salso going to be easier for our
designer to design a home andmake all the furniture really
just fit in perfectly.
(15:49):
But you know, there are timeswhen the home doesn't flow.
Maybe there was a wallpartition at some point that was
useful for that particularseller's lifestyle, but it's not
necessarily going to be usefulfor the sale of the property.
So making things as open aspossible, I think, is the trend
(16:12):
Nowadays.
Big open spaces.
Buyers love that.
Creating that flow is what thesellers should focus on.
Looking at maybenon-weight-bearing wall that
could be removed and creatingthat open flow, such as maybe
opening up a wall between akitchen and a living room it's
(16:34):
such a simple upgrade, itwouldn't cost much, but it would
create that openness, it wouldcreate that flow between the
kitchen and the living room andcreate one big working living
space is going to go a long,long way in helping sellers
fetch the best buyer for theproperty.
Sometimes there are some wallsthat cannot be removed.
(16:57):
You want to keep an eye out forthat.
You want to educate yourself.
Maybe just a little bit readabout weight-bearing walls and
see where the weight-bearingwalls are typically located in
the home, because sometimesbuyers come in and they ask me
hey, can I remove this wall?
Sometimes you can't becausethat wall is actually bearing
(17:19):
the weight of the ceiling andthe roof above it.
You want to be cognizant ofthat, maybe before pulling the
trigger on the property andmaking an offer, maybe bringing
a contractor or an architect todo an open house it's always
handy to have a friend who is acontractor or have a realtor
that can help you bring acontractor and take a look at
(17:42):
the property before you make anoffer.
Lindsay Fluckiger (17:44):
For both buyers and sellers.
How critical is it tounderstand the local real estate
market and how would yourecommend they stay informed?
Russ Sadykhov (17:53):
Local real estate market is extremely important
to understand.
When I say local, I don't justmean county or city that you
live in.
Sometimes it comes down toliterally the street that you
live on.
It can vary from on that muchgranularity.
(18:14):
Understanding the dynamics ofthat particular neighborhood is
extremely important when you'remaking an offer because, like we
talked earlier, when you'rebuying a home you're not buying
a one month or a one monthexperience.
You're buying a seven to 10year experience.
Statistically, you want to findout who your neighbors are.
(18:36):
You want to find out what arethe certain traditions of that
particular neighborhood.
A lot of times when I talk tothe neighbors, they'll tell me
everything.
They'll tell me oh yeah, oh myGod.
During Halloween we block outthe street and we do this little
mini festival and we have thistradition of doing marshmallows
(18:59):
in November.
It's great to know these littletidbits about the neighborhood
and understand them before youmove in and know who your
neighbors are because ultimately, you will be sharing your
experience with them.
(19:22):
Sometimes that can work theopposite way too.
Sometimes you have somenegative things that you want to
find out.
Maybe there's a neighbor thatconstantly leaves their big
truck on the parking spot.
That makes it difficult for youto get in a driveway.
Maybe there's a neighbor thatdoesn't like to cut their brush
(19:44):
back when it needs to and youend up doing it on their behalf.
Those are the kind of thingsyou want to find out and talk to
the neighbors.
I always encourage my clientsto go talk to the neighbors and
find out what is theneighborhood like On a very
micro level.
I know we want really micro onthis question, but I do believe
(20:04):
that ultimately it is thosethings.
Even though they're micro,they're going to make macro
impact on the lifestyle.
Lindsay Fluckiger (20:14):
I love that you zoomed in on that.
That was a really great insight.
Thank you for sharing that.
Can you share some currentinsights into the trends in
Silicon Valley's real estatemarket and how they compare to
the national trends that we'reseeing right now?
Russ Sadykhov (20:29):
There's different kinds of trends that we can
talk about.
There's financial trends,there's style trends.
I can cover a little bit ofboth.
For style trends, I think wetalked at length already about
how Silicon Valley buyers preferhomes that are ready to move in
.
Things are just such fast pacehere in Silicon Valley that
(20:49):
buyers are willing to pay tensof thousands, sometimes even
hundreds of thousands of morejust to buy a home that's
turnkey and they don't have toworry about any improvements in
the future.
That's definitely a trend thatwe've been seeing for a long
time in Silicon Valley.
I think it's here to stay, asthings are not getting any
(21:09):
slower here in our area.
In terms of financial trendswe're seeing right now we're
talking in January of 2024,.
We've had a big run up ininterest rates since last year
and things have just completelychanged the landscape.
(21:31):
They really cramped down on theinventory.
A lot of homes are off marketand sellers are reluctant to
selling their homes becausethey're locked into low interest
rates.
They have a mortgage with a 3%rate and for them to sell a home
means giving up that sweet 3%rate and moving on to a 6% to 7%
(21:53):
rate, and sellers are simplyreluctant to do that.
That, I think, compares andfits really perfectly into a
national trend which isexperiencing the same thing, and
it's causing a nationwidesqueeze in the inventory.
It's ultimately, of course, asall things is, going to go away.
(22:20):
How long that takes is really abig question that I think a lot
of people are struggling withfinding out.
If you're a buyer in today'smarket, I think it shouldn't
prevent you from buying a home.
Buying a home, it shouldn't besolely a financial decision.
Buying a home should be adecision of lifestyle and it
(22:43):
should be a decision of whereyou see yourself for the next.
I keep on reminding about the 7to 10 year period.
It should be a question ofwhere do I see myself for the
next 7 to 10 years?
And rates are just one part ofthe equation.
There are so many other factorsand Silicon Valley real estate
(23:05):
is not getting any lessexpensive.
So the sooner you get in, Ithink that the better it is
going to be for a buyer intoday's market over the next 7
to 10 years.
Lindsay Fluckiger (23:16):
What's your one piece of advice for anyone
looking to navigate the realestate market successfully?
Russ Sadykhov (23:22):
The biggest piece of advice is talk to a real
estate agent first.
It costs absolutely nothing.
We provide free consultationsto all of our prospective
clients and repeat clients aswell, because we love educating
our clients about real estate.
I'm having such a great timeanswering your questions today.
(23:46):
It's really a subject that'svery passionate to myself and
everyone on our team.
So the biggest piece of adviceis talk to a real estate agent.
Understand the ins and outs ofreal estate before you go to the
next step.
Lindsay Fluckiger (24:02):
Thank you so much for joining us and for
sharing your wealth of knowledge.
Russ Sadykhov (24:06):
This was a lot of fun.
Yeah, thank you for all thegreat questions and it was my
pleasure.
Lindsay Fluckiger (24:10):
To our listeners.
Thank you for tuning in and besure to follow Russ for more
expert real estate advice.
And join us next time on theTile Trends by Tile Club podcast
.
Welcome to season two of Tile Trends by
Tile Club.
We're back with a fresh newseason and I'm your Lindsay
Fluckiger, .
Get ready for an exhilaratingjourney through all things tile,
real estate and home design.
We're ecstatic to bring you allnew special guests and a fresh
perspective on the latest trends.
Today we're kicking off withnone other than Russ Sadikhov, a
(00:24):
renowned realtor and CEOcelebrated for his unparalleled
expertise in the Silicon Valleyreal estate market.
Let's dive in, russ.
It is so wonderful to have youwith us today on the show.
How are you?
Russ Sadykhov (00:37):
It is wonderful to be here, lindsay, I'm doing
great.
Lindsay Fluckiger (00:40):
Fantastic.
Can you tell us a little bitabout your agency, where we can
find you?
We want to make sure that we'resending listeners your way, who
may be local to California oreven to Silicon Valley.
Russ Sadykhov (00:51):
Awesome.
Yeah, thanks for asking thatquestion.
So Team Russ Homes is the nameof our team.
There are three active agentson the team myself, Ronnie Cope
and Jessica Alves.
We all have our unique talentsand we are all of a very unique
character.
Myself, I am very analytical.
(01:13):
I like to really dig deep intothe numbers, so I tend to work
with a lot of investors.
I also tend to work with a lotof sellers.
Ronnie is a very relatableperson.
He's the kind of person thatyou can really tell all of your
needs and rest assured that he'sgoing to execute on them.
So when we're talking aboutbuying a home or selling a home,
(01:35):
ronnie is the person out therein the field showing your homes,
telling you about the pros andcons of every property.
Ronnie also comes withexperience in the construction.
So when we were talking aboutfloor plans and we're talking
about doing certain changes ormaybe adding a backsplash or
installing that beautiful tile,ronnie would be the person to
(01:58):
talk to.
And Jessica on our team.
She's just full of energy.
She is extremely, extremelywilling to help and she's super
knowledgeable in the SiliconValley market and she works with
.
She's originally from theCentral Valley and we're now
seeing the Central Valleygrowing significantly because of
(02:19):
its attractive price points.
So Jessica would be a go-to forCentral Valley needs as well as
Silicon Valley needs that sheis knowledgeable in both.
So we're seeing her help a lotof investors and a lot of first
time home buyers purchase inhomes, purchase in areas in
Central Valley like Tracy,modesto, turlock, merced and,
(02:41):
like I said, those areas aregrowing tremendously right now.
I'm super humbled to be the CEOand the team lead, with over a
decade in real estate experience.
We are operating under theumbrella of Coldwell Banker, so
in addition to being a broker ofa team, we also have that
(03:04):
backing of a very well known anda very long standing and
trustworthy corporation that hasthe legal team behind it and
that has the transactioncoordination team behind it and
make sure all the eyes aredotted and teeth are crossed.
So we welcome anyone who islooking to buy or sell and
(03:28):
welcome answering any questionsyou may have about the real
estate market.
Lindsay Fluckiger (03:32):
Fantastic.
We will definitely includelinks to your social, to your
website, any information thatyou think would be pertinent for
our listeners that would liketo get in touch.
We would love to hear moreabout you and how real estate
has become a passion for you.
Russ Sadykhov (03:48):
Yeah, absolutely Well.
I entered the real estateindustry during a really
challenging time, right.
It was the aftermath of thesubprime mortgage crisis, and
many realtors were leaving themarket, which was flooded with
bank owned and distressedproperties.
This was 2010.
It was precisely during thisperiod that my passion for real
(04:09):
estate really ignited, due to apersonal story that I may share
later.
I really saw beyond thosechallenges.
I saw the opportunity to bepart of people's lives during
this significant moment of theirreal estate journey, and that's
when I realized real estate ismore than just a transaction.
It's being there for people'sweddings or helping families
(04:32):
find their perfect home fortheir growing needs, and
supporting my clients throughjob changes.
And so I found a deep sense ofpurpose in guiding individuals
and families through thesetransformative moments, and I
feel truly humbled to be part ofmy client's lives during these
critical transitions.
Lindsay Fluckiger (04:50):
Thank you so much for sharing that.
It is, for sure, a verypersonal journey, and I love
that.
You've been able to develop apassion and love for your
clients and helping them findtheir forever home.
So, russ, you've built aremarkable career since 2010,
helping countless clientsnavigate the real estate world.
We would love to jump into someessential questions for our
(05:12):
listeners, especially thoselooking to buy or sell homes.
So, for first time home buyers,what are the top three factors
they should consider whensearching for their ideal home?
Russ Sadykhov (05:24):
Yeah, that's a great question.
You know for first time homebuyers, everything starts with
location and you wanna find outwhere you wanna live first,
because real estate journeystarts with your lifestyle.
And once you determine yourlocation, you wanna determine
your price range and connectwith the real estate lender who
can get you a pre-approval sothat you're not looking for
(05:45):
homes above or below your idealprice range.
And finally, you wanna consideryour growing needs.
Real estate is not a one monthor even a one year endeavor.
Real estate for most people isa seven to 10 year endeavor.
So you wanna look long-term.
You wanna kind of envision whatyour family is gonna look like
in seven to 10 years.
Are you anticipating familygrowth?
(06:06):
Are you anticipating any jobchanges, those kinds of things?
So looking into the future andmaking sure that your home
accommodates those future needsas well.
Lindsay Fluckiger (06:16):
Wonderful insight.
In a competitive market likeSilicon Valley, where you are
located, what strategies do yourecommend for buyers to make
their offer stand out?
Russ Sadykhov (06:26):
Another great question.
It's so competitive in SiliconValley and buyers often struggle
with the ups and downs ofemotional roller coasters of
submitting their offer and notknowing whether their offer gets
accepted or not due to such acompetitive market.
So there's a few things thatyou can make your offer stand
out.
First of all, you gotta getyour financing in order, just
like we talked earlier.
(06:47):
Get together with your lender.
Make sure that your loan isfully underwritten.
We also work with a few vendorsthat help our clients get a
pre-approval with a cash-likeoffer.
So the stronger your financinglooks on the offer, the stronger
your chances of getting youroffer accepted.
(07:08):
Secondly, you want to make otheroffers offer terms stand out.
Check with the seller's agentand find out what are other
things that are important to theseller.
Maybe the seller needs a rentback.
Make sure to incorporate a rentback into your offer.
Maybe the seller wants to takethe appliances with them.
Sometimes it comes down tolittle things like that you
won't believe it and making surethat you take those things into
(07:32):
consideration and lay them allout very clearly into the offer.
It goes a long way in makingyour offer stand out and we've
seen a lot of times our offersget accepted even though they're
not the highest offers in termsof price.
Lindsay Fluckiger (07:46):
Wow, russ, that's all great information.
Thank you for that insight.
Shifting to sellers what aresome common mistakes homeowners
make when putting their house onthe market and how can they
avoid them?
Russ Sadykhov (07:58):
So there are a couple of things that sellers
can do.
While simple things, a lot oftimes they do get overlooked,
and the first thing isoverpricing.
No matter how great the marketis, you never want to overpric
your home, because everybody hasaccess to the data nowadays and
buyers can do the research andfigure out whether your home is
(08:18):
priced competitively or if it'soverpriced.
And even in a competitivemarket that we have like today
in Silicon Valley, if your homeis overpriced, it can actually
sit on the market withoutgetting an offer.
So overpricing is definitelyone of those pitfalls you want
to avoid.
Secondly, presenting your home.
(08:39):
Once you've priced your homecompetitively, the presentation
matters a lot.
I used to say 99% of homebuyers start their home search
on the internet.
Well, I think that percentageis 100% now.
Everybody starts their homesearch online.
So how your home is presentedplays a crucial role, whether
that buyer is going to show upat the open house or set a
(08:59):
private showing.
So, making sure that youdeclutter your home, remove your
personal items and make yourhome as neutral as possible and,
furthermore, work with an agentthat provides services and
works with a professional stagerand gets your home fully staged
, as staged homes sell a lotfaster and for more.
Lindsay Fluckiger (09:21):
It's amazing how much technology has changed
the market in ways, so it's funto hear your perspective on that
.
You know that our podcast isTile Trends by Tile Club, so how
crucial is the choice of tilesand other building materials and
influencing a buyer's decision?
Russ Sadykhov (09:39):
I actually have a very interesting story about
that.
We just recently had a buyerthat was touring nuclear
construction in nearbydevelopment and they were
touring exact same model indifferent locations.
So two different homes, exactsame model.
The differences were thefinishes and you know, when you
(10:01):
brought up the question of tileand wall coverings, it's such an
important factor when selectinga home for buyers.
We found in Silicon Valley andthe first home that the buyer
toured had that standard 4 inchcountertop back splash extension
which looked nice.
And you know buyers definitelyliked the location and they
(10:24):
liked the development and theyweren't really excited about the
finishes but they liked all theother factors about the home.
Now fast forward 10 minutes.
They walk into the second modeland the second model has a full
wall back splash, hexagon whitebacksplash and nicely tiled all
the way up to the stainlesssteel vent hood and it was like
(10:49):
looking at a completelydifferent home.
The buyer got so giddy and soexcited that you could see the
spark in their eyes and thesmile was ear to ear and they
were.
You could see how they wereenvisioning themselves living in
the home and opening up theirlaptop on the big island and
enjoying that vibe that thekitchen provided.
(11:10):
So I would say that definitelythe finishes do matter and tile
is a big part of that because,you know, tile is such a big
part of so many finishes.
You put tile on the floors, youput tiles on walls on and your
shower enclosures in yourkitchens and your backsplashes,
(11:32):
and you could do so manydifferent designs with tile.
So the more well designed homeis, the more chances that the
home will sell and it'll sellquicker and for more.
So in the case for our buyer,they actually ended up pulling
the trigger on the secondproperty and they ended up
(11:54):
paying tens of thousands of morefor the second home because of
those finishes, and they werehappy to do it.
Lindsay Fluckiger (12:00):
That's incredible.
How crucial is it to keep tilechoices while coverings or
paints neutral.
Russ Sadykhov (12:09):
It's very important to keep things neutral
.
Neutrality is what we usuallygo for when we present a home,
because neutrality is kind oflike a blank canvas and that's
ultimately what a home shouldpresent to a buyer, because
every buyer has a certainpicture in their mind of what
(12:31):
their home is going to look like, because they have their own
furniture, they have their owncolors that they like to be
surrounded by.
So having neutrality issomething that we work really
hard on with our designer andour stager.
That helps us prepare all ofour homes for sale.
But that doesn't mean thatneutrality is simple.
(12:55):
Neutrality actually takes a lotof thought and work behind it.
There are certain colors thatwork well together and there are
certain colors that don't.
So creating neutrality isreally crafting that special
blend of colors that the buyercan then take and bring their
(13:15):
own design on top of that andlayer it to really create their
own space.
Lindsay Fluckiger (13:23):
Fantastic.
Growing up, my mother kept allof our walls white.
We could not paint the walls.
She would not let us customizeour room or things like that.
And she's like no, when we sellthis house, it's got to be
white so that a buyer will walkin and just be excited.
So for 10 years we lived inthis home and she was right.
The week it was put on themarket that was one of the first
(13:46):
things that everyone that putin an offer.
They're like we just love it.
It's this blank canvas.
So, to our dismay, she wasright.
On that note, I would love tomove on to talking about staging
.
You mentioned that homes thatare staged tend to sell faster
and better than homes that arenot.
Do you have any quick,effective staging tips for our
listeners today?
Russ Sadykhov (14:07):
You know, I wish I could call myself a staging
pro, and I'm not.
I really focus on what I dobest, which is helping our
clients get the best of everyservice possible, and that's why
we work with the best in theindustry when it comes to design
and staging, and we've workedwith Melanie at iDesign Staging
(14:28):
for over a decade now and she'sabsolutely fantastic.
We have her involved in everysingle one of our projects and I
do believe that, you know,leaving things to professionals
is really the best service youcan do for your client, and
therefore we have a partnershipwith our staging company and
(14:50):
have them look at every singleproject before we begin, get a
detailed list of improvements,and those improvements a lot of
times include, like you said,like paint.
If a client has a green wallwith an electric yellow
substance to it, you know youdefinitely want to correct that.
Simple yet very effectiveupgrades go a long way in
(15:15):
helping our clients get topdollar and also sell the
property in a faster time.
Lindsay Fluckiger (15:20):
So, as far as layout and interior design, are
there any potential red flagsbefore putting their home on a
market?
Russ Sadykhov (15:29):
Yeah, great question.
You know, certainly things needto flow and the buyers are
going to pay attention to that.
And if your home has flow, it'salso going to be easier for our
designer to design a home andmake all the furniture really
just fit in perfectly.
(15:49):
But you know, there are timeswhen the home doesn't flow.
Maybe there was a wallpartition at some point that was
useful for that particularseller's lifestyle, but it's not
necessarily going to be usefulfor the sale of the property.
So making things as open aspossible, I think, is the trend
(16:12):
Nowadays.
Big open spaces.
Buyers love that.
Creating that flow is what thesellers should focus on.
Looking at maybenon-weight-bearing wall that
could be removed and creatingthat open flow, such as maybe
opening up a wall between akitchen and a living room it's
(16:34):
such a simple upgrade, itwouldn't cost much, but it would
create that openness, it wouldcreate that flow between the
kitchen and the living room andcreate one big working living
space is going to go a long,long way in helping sellers
fetch the best buyer for theproperty.
Sometimes there are some wallsthat cannot be removed.
(16:57):
You want to keep an eye out forthat.
You want to educate yourself.
Maybe just a little bit readabout weight-bearing walls and
see where the weight-bearingwalls are typically located in
the home, because sometimesbuyers come in and they ask me
hey, can I remove this wall?
Sometimes you can't becausethat wall is actually bearing
(17:19):
the weight of the ceiling andthe roof above it.
You want to be cognizant ofthat, maybe before pulling the
trigger on the property andmaking an offer, maybe bringing
a contractor or an architect todo an open house it's always
handy to have a friend who is acontractor or have a realtor
that can help you bring acontractor and take a look at
(17:42):
the property before you make anoffer.
Lindsay Fluckiger (17:44):
For both buyers and sellers.
How critical is it tounderstand the local real estate
market and how would yourecommend they stay informed?
Russ Sadykhov (17:53):
Local real estate market is extremely important
to understand.
When I say local, I don't justmean county or city that you
live in.
Sometimes it comes down toliterally the street that you
live on.
It can vary from on that muchgranularity.
(18:14):
Understanding the dynamics ofthat particular neighborhood is
extremely important when you'remaking an offer because, like we
talked earlier, when you'rebuying a home you're not buying
a one month or a one monthexperience.
You're buying a seven to 10year experience.
Statistically, you want to findout who your neighbors are.
(18:36):
You want to find out what arethe certain traditions of that
particular neighborhood.
A lot of times when I talk tothe neighbors, they'll tell me
everything.
They'll tell me oh yeah, oh myGod.
During Halloween we block outthe street and we do this little
mini festival and we have thistradition of doing marshmallows
(18:59):
in November.
It's great to know these littletidbits about the neighborhood
and understand them before youmove in and know who your
neighbors are because ultimately, you will be sharing your
experience with them.
(19:22):
Sometimes that can work theopposite way too.
Sometimes you have somenegative things that you want to
find out.
Maybe there's a neighbor thatconstantly leaves their big
truck on the parking spot.
That makes it difficult for youto get in a driveway.
Maybe there's a neighbor thatdoesn't like to cut their brush
(19:44):
back when it needs to and youend up doing it on their behalf.
Those are the kind of thingsyou want to find out and talk to
the neighbors.
I always encourage my clientsto go talk to the neighbors and
find out what is theneighborhood like On a very
micro level.
I know we want really micro onthis question, but I do believe
(20:04):
that ultimately it is thosethings.
Even though they're micro,they're going to make macro
impact on the lifestyle.
Lindsay Fluckiger (20:14):
I love that you zoomed in on that.
That was a really great insight.
Thank you for sharing that.
Can you share some currentinsights into the trends in
Silicon Valley's real estatemarket and how they compare to
the national trends that we'reseeing right now?
Russ Sadykhov (20:29):
There's different kinds of trends that we can
talk about.
There's financial trends,there's style trends.
I can cover a little bit ofboth.
For style trends, I think wetalked at length already about
how Silicon Valley buyers preferhomes that are ready to move in
.
Things are just such fast pacehere in Silicon Valley that
(20:49):
buyers are willing to pay tensof thousands, sometimes even
hundreds of thousands of morejust to buy a home that's
turnkey and they don't have toworry about any improvements in
the future.
That's definitely a trend thatwe've been seeing for a long
time in Silicon Valley.
I think it's here to stay, asthings are not getting any
(21:09):
slower here in our area.
In terms of financial trendswe're seeing right now we're
talking in January of 2024,.
We've had a big run up ininterest rates since last year
and things have just completelychanged the landscape.
(21:31):
They really cramped down on theinventory.
A lot of homes are off marketand sellers are reluctant to
selling their homes becausethey're locked into low interest
rates.
They have a mortgage with a 3%rate and for them to sell a home
means giving up that sweet 3%rate and moving on to a 6% to 7%
(21:53):
rate, and sellers are simplyreluctant to do that.
That, I think, compares andfits really perfectly into a
national trend which isexperiencing the same thing, and
it's causing a nationwidesqueeze in the inventory.
It's ultimately, of course, asall things is, going to go away.
(22:20):
How long that takes is really abig question that I think a lot
of people are struggling withfinding out.
If you're a buyer in today'smarket, I think it shouldn't
prevent you from buying a home.
Buying a home, it shouldn't besolely a financial decision.
Buying a home should be adecision of lifestyle and it
(22:43):
should be a decision of whereyou see yourself for the next.
I keep on reminding about the 7to 10 year period.
It should be a question ofwhere do I see myself for the
next 7 to 10 years?
And rates are just one part ofthe equation.
There are so many other factorsand Silicon Valley real estate
(23:05):
is not getting any lessexpensive.
So the sooner you get in, Ithink that the better it is
going to be for a buyer intoday's market over the next 7
to 10 years.
Lindsay Fluckiger (23:16):
What's your one piece of advice for anyone
looking to navigate the realestate market successfully?
Russ Sadykhov (23:22):
The biggest piece of advice is talk to a real
estate agent first.
It costs absolutely nothing.
We provide free consultationsto all of our prospective
clients and repeat clients aswell, because we love educating
our clients about real estate.
I'm having such a great timeanswering your questions today.
(23:46):
It's really a subject that'svery passionate to myself and
everyone on our team.
So the biggest piece of adviceis talk to a real estate agent.
Understand the ins and outs ofreal estate before you go to the
next step.
Lindsay Fluckiger (24:02):
Thank you so much for joining us and for
sharing your wealth of knowledge.
Russ Sadykhov (24:06):
This was a lot of fun.
Yeah, thank you for all thegreat questions and it was my
pleasure.
Lindsay Fluckiger (24:10):
To our listeners.
Thank you for tuning in and besure to follow Russ for more
expert real estate advice.
And join us next time on theTile Trends by Tile Club podcast
.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!