Tag Archives: selling my home

Money Monday: Staged homes sell best and bring more money

Selling your home? Stage it first!

In this culture of picture-perfect everything, staging a home (and taking quality photos) is the best way to attract attention to your abode for sell.

What Determines Market Value?

When selling your home, what price should you list it for?

upside-downAs your local San Diego county real estate agent, I help home sellers figure out what to price their homes for on an everyday basis. And while every home and every area and every real estate market has something unique about it that, that will influence my recommendation of what to price your home at when selling, there are a few basic things that determines a property’s value: Continue reading

Six signs a home will hold its resale value

Six signs a home will hold its resale value

Most buyers have a wish list of features they’d like to have in a home. Often missing from that list is how salable the home will be when they later decide to sell.

Generally, buyers deal indirectly with resale value. They want a home they can buy at market value or less. They want to buy a home that will retain its value. They want to buy a home that will suit their needs. They want to buy a home they can make their own.

home hold its resale valueA listing that’s priced low to sell fast may be one that will have good resale value only if you use this marketing strategy. The low price may offset an incurable defect, such as a location on a busy street.

There’s nothing wrong with buying a home on a busy street as long as (1) you buy it at a price that reflects the location issue; (2) it suits your long-term needs; and (3) you understand that you will probably have to discount the price accordingly when you sell, depending on the market at the time.

In a hot seller’s market, buyers are desperate to buy. They often overpay, and they are more likely to overlook defects that they would shun in a sour market.

Resale value has become a bigger issue since the housing recession began five years ago. Buyers are more cautious in their home-buying decisions. They don’t want to buy just any home; they don’t want to make a mistake and end up wanting to move in a slow market in which they might lose money.

The homes that hold their resale value well are the ones that appeal to a broad cross section of buyers; offer a good floor plan that works for different lifestyles; have a good amount of space but are not enormous and expensive to maintain; and exhibit a pride of ownership. They should also be in good condition.

Location is also a critical element of resale value. There are market niches that are always in demand, in both hot and soft markets. For example houses in neighborhoods with close proximity to shops, cafés and public transportation systems.

That’s not to say that every listing in these neighborhoods sell quickly. To sell, it needs to be priced right for the market.

It’s easier to recognize a home with good resale value in the current market than it was in the bubble market of 2005 and 2006 when virtually all homes sold in many areas. In a soft market, the homes that sell within 30 to 60 days are either good homes or good deals.

Ideally, you want to buy a home that has good resale value. Not one that’s just a good deal. There’s no urgency to buy now in many areas, although it would be nice to take advantage of record-low interest rates. But you shouldn’t buy a home that won’t work for you long term just to lock in a great interest rate.

Even though there are a lot of homes for sale on the market, in many areas there is a not a surplus of quality inventory on the market. One reason for the lack of quality homes on the market is that many sellers are waiting for a better time to sell. Another reason is that homes with good resale value don’t tend to change hands that often.

THE CLOSING: There may be good news ahead. Leslie Appleton-Young, chief economist for the CALIFORNIA ASSOCIATION OF REALTORS®, predicts that sellers who have been waiting for a better time to sell may decide they’ve waited long enough and list their homes for sale in 2012.

Dian Hymer is a real estate broker with more than 30 years’ experience and is a nationally syndicated real estate columnist and author.

Get Moving!

Get Moving: July 4, 2012 has Fireworks in Real Estate?

The latest news as we head past the mid point of 2012 in real estate locally in San Diego shows increases in values, currently pushing the validation of the second quarter statistics even further forward as we settle into the hottest selling season of the year. Interest rates are at historical lows below 4% fixed-rate for a 30-year mortgage, so if you are thinking of buying but are still on the fence, GET MOVING! And if you are wondering if it is time to explore moving up or scaling back from your current space, let me repeat myself–GET MOVING!

Every real estate transaction, whether on the buying side or the selling side, is unique as far as the situation. Because of that, your experienced real estate agent or broker should assist you, as the client, in the appropriate direction. If there is any hesitation of what the best course of action is, it may be time to interview another agent. If this is the case, I would like to interview for the job of being your agent now.

My latest experience involved me selling a rehab home for the out-of-state owners, who owned it free and clear. I was able to reap, I am proud to say, the highest value for the zip code! This, on top of the fact that the comparable properties had depressed values and the neighbors were skeptical, but who are now thrilled because I just raised their value considerably. The market is on the way up, thus making it the perfect scenario for you as a buyer or seller to GET MOVING!

For two other clients of mine that I am in the process of helping buy homes; one listed to me, accepted my advice, and is under contract–while the other wanted to veer away from my recommendations and, sad to say, they are not happy because they did not get the property. It is not all about price, it is the big picture; including: getting repairs done and even new appliances put in the property–but I will get you the best shot at the best results! In obviously over-priced homes, there again is nothing to worry about, because I know how to weave through that. All situations are different when buying or selling; however, when you have an agent who has over 20-years of full-time experience in this industry, then your odds of winning always go way up. Wouldn’t it be in your best interest to HIRE the BEST of the BEST?

NOW is the time to GET MOVING and make sure your back is covered!! I am available now; you can search current properties on my website: www.JohnSilva.com–and give me a call to schedule some showings!

In closing, my sincerest wishes for a safe, blessed and happy 4th of July to you and yours, and especially thanks for our forefathers whose example we continue to emulate with the True Heritage of this great nation called America, lest of all we best not forget our military–past, present, and future who contribute in sacrificing their body, spirit and ultimately their lives for US ALL! God bless!