So many of my friends and clients are all talking about selling their house, someday. Many of them have a 2-5 year plan, but most aren’t sure where they want to be and want to know what improvements to make their homes more sellable. I always tell them to make improvements now and enjoy them, rather than making them right before they are ready to market their homes.
I always wondered why homeowners will put up with outdated conveniences, uncomfortable quirks, and deferred maintenance in their home, then remodel / replace everything when they are ready to sell. So when you are ready to invest in your home, it is wise to invest money in improvements that will add value to the home and enjoy the use of these improvements.
A well maintained home is a plus, in any market. It is important to fix any existing or potential problems regarding roofs, gutters, plumbing leaks, electrical system and water intrusion. You will be saving money in the long run by nipping these problems in the bud, rather than waiting.
Curb appeal is a necessity, not an option. Start upgrades on the exterior of your home. Fix any existing problems, paint or replace front doors, garage doors, driveways and hardware as well as maintain your front lawn.. You have only one chance to make a first good impression.
Kitchen and bath remodels and deck/ patio additions in regions where there is a high premium on outdoor activities and favorable weather, typically give the highest return on investment. Remember improvements don’t have to be major projects. Are the kitchen cabinets still in good shape? Anything from re-staining, face-lifting or painting can make a difference. How are the kitchen counters and back splash? Do the appliances need updating. Nothing says you need to invest in the top of the line, unless gourmet cooking is your thing, There are lots of rebates for energy-saving appliances at this time. This is also a great time to de-clutter the kitchen counters.
Do you really need a full bath remodel? Replacing counter tops, vanity , tile, fixtures, low-flow toilets, scummy shower doors and curtains can really make a difference. Kitchen, baths and bedrooms are high-traffic areas and should look good, be comfortable and be user-friendly.
Painting is an inexpensive fix, and the prep work is just as important as selecting a great color. Does your flooring need updating? Are the rugs shabby? How are the tile or hardwood floors in your home? Remember neutral colors work best. Bring color into your home with your accessories, furniture, and area rugs. How is the lighting in your house? Do your windows need replacing.? Thermal pane, double-hung replacement windows increase your home value and can make a tremendous difference in heating and electric bills. Energy efficiency is an important selling point…
De-cluttering is a must. This is a great time, when you are not under pressure, to go through all your stuff and getting rid of what you don’t need. Subtle changes can have a dramatic effect on the comfort, style and livability of every room in the house and can contribute to resale-value.
If you need any help in making changes in your existing home, or not sure where to start making these changes, please give me a call and I will be glad to help you get started.
Phone: (760) 415-7083 E-Mail: [email protected] DRE# 01124089
P.S. Who do you know that would benefit from the Real Estate Service that I offer. Don’t keep them or me a secret. Referrals are an important part of my business.
North County’s median house price rose to $415,000 in June, a third straight increase from month-earlier levels, reflecting what some agents call a stunning return to a seller’s market.
There is a renewed confidence among buyers, including many who had sat out the expensive market of the last five years, either by CHOICE or by NECESSITY.
The market has begun to HEAT UP in recent months due to a RARE combination of the LOWER PRICES, LOW INTEREST RATES and INCENTIVES from the federal government to spur home purchases.
The average rate on 30 year fixed mortgages is 5.33 percent, near HISTORICAL LOWS, according to Bloomber and bankrate.com, two data services.
Many people are concerned about how today’s challenging economic environment might affect their ability to buy a home, or even whether they should become homeowners right now.
Over the long term, home-ownership is an investment in your future. “Buyer Strength” explains that current conditions such as low interest rates and available properties put many potential home buyers in a position of strength.
Related Posts: San Diego
Steve Rodgers, President of Exclusive Properties, was awarded the ABLE Corporate Citizen of the Year Award at this year’s second annual A.B.L.E Awards Sunday, June 28th.
The Achievements in Business Leadership Excellence (ABLE) Awards were designed to recognize some of North County’s most active community members and businesses. The event was a celebration of doing business successfully, doing business responsibly, and doing business in the spirit of San Diego North.
“This award belongs to the entire Exclusive Properties Team. As real estate agents it’s our philosophy and our pleasure to give back to the communities that we work in and live in,” said Rodgers. “We will be persistent in promoting environmental efficiency and will continue to do our part to keep San Diego great.”
The spirit of the Corporate Citizen of the Year Award is to recognize those individuals who have demonstrated a philosophy of giving and corporate social responsibility to make a significant impact on the San Diego North region’s health and well being.
This year’s award recognizes Steve Rodgers as being a leader in his field, leading the way ethically and with his community’s best interest always in mind. His Community Outreach Programs have been of great help to his fellow citizens and always include the majority of his fellow Exclusive Properties associates.
Most recently the Exclusive Properties team hosted their 26th annual Community Service Day. The day consisted of dual bloods drives and a food drive. At the end of the day the event had collected 80 pints of blood from as well as 2 bags of red blood cells. In addition, over a ton of food was collected to provide a number of families with an emergency food box supplement for the month.
“The recognition of the general public shows agents that they are in fact helping the community grow,” said Steve Rodgers, President of Exclusive Properties, “which is a key component to creating a positive influence in this area.”
In past years Rodgers has been involved in doing commercials for the blood bank and has been involved in a number of Southern California Beach Clean-Ups and Cancer walks. He has also made contributions to the Children’s Hospital and Jenna Druck Foundation and gotten his hands dirty in a number of environmentally friendly green community events. Steve Rodger’s dedication to his craft and community combined to make him the ideal choice for the ABLE Corporate Citizen of the Year Award.
Let’s not whisper! Shout it out!
Have we really hit bottom yet? According to some Local consultants and Economist New Housing is not so attractive right now.
New housing projects do pop up every so often for some developers are positioning for a recovery.The optimism for builders is long term.
The projection of a shortage of new homes (mostly because of Traditional lenders aren’t lending) will encourage buyers to feel a sense of urgency projected by next summer’s start of rising prices. This possible upturn is sparked
by the shortage of the new homes market. The percentage 3.6%.to 3.7 %months of supply of new homes, in which is an already low inventory,then as in the past when it has dropped to 3.5% prices started to rise.
Peter Reeb, local builders consultant , feels that the perspective home buyer has only three to six months to go ahead now and buy still near the bottom.
One of the market timer’s is new construction and new permits which are at an all time low and some which includes apartments. There are a 132,000 dwelling units in form of a master plan and subdivision but less then 10% have received final approval. With this low inventory you can announce to your buyer’s to get serious or a possible increase to what they can buy today will be more tomorrow.
The National Association of REALTORS® (NAR) reported the largest jump in pending sales in nearly eight years, largely due to the $8,000 tax credit stimulus for first-time home buyers.The volume of sales in many price segments is up almost 50% for the same period.
Home prices across California increased 1.4%. Sellers should be delighted to see a slight price increase in many price segments yet buyers still benefit as homes are still priced nearly 36% below 2008 levels, according to the California Association of REALTORS®.The takeaway: sellers and buyers will find declining prices in some price ranges (high end) and accelerating prices in others (entry level up to $750,000)
Honor Team Monthly
Real Estate Market Briefing
Welcome to July & our sense of the market as full-time real estate professionals serving North County for a combined total of 34 years. We’ve created our own homemade Honor Team Predication Chart with an opportunity for you to participate with us.
OK, let’s get right to it.
We put our own “X” at the bottom of the second box. We think we’ve hit bottom, but we don’t think public perception will recognize this for several months. The North County median price has actually INCREASED for the past two months, although by only a slight amount. This is the first increase in a long time and reflects a major shift. The Doom & Gloom camp, however, says there is another wave of foreclosures as we head into Fall and that, perhaps, the magnetic poles may switch, causing a meltdown in Earth home prices. We think there will be fluctuation and fluttering, but that we are moving through the bottom and that prices will remain essentially flat.
Having said this, there are also pockets of communities that defy this logic. West Solana Beach prices are actually higher than last year. On the other hand, homes on the East side of I-5 in Solana Beach are considerably lower than last year. In fact, prices in the Lomas Santa Fe community, for example, have taken a slide this year, and there are very few sales so far (only 4 sales for the first half of the year). Even though several of these sold at lower-than-expected prices, you can’t make too much sense of only 4 sales.
Homes prices for ALL coastal North County actually increased by a little less than 1% from a month ago. This is the second month we’ve seen this new pattern. For a fabulous overview of North County prices, click here: North County Sales Stats
Condo prices for ALL coastal North County remained the same.
In North County as a whole, there were 1451 homes for sale or in escrow as we entered this month and 444 are in escrow. That’s 31%. That’s a EXTREMELY healthy number.
There were 660 condos for sale in coastal North County as we entered this month and 274 of those in escrow – 42%. That’s a LOT of condos in escrow!
The number of overall sales in 2009 in coastal North County is about 13% lower than 2008.
Solana Beach has only had 25 home sales for the first half of 2009 compared to 68 total sales in 2008. Things are mighty slow in Solana Beach!
During the first half of 2009, 37 condos in Solana Beach sold compared to 65 sold in 2008. That’s about the same pace as last year.
Our sense is that most buyers are pushing into the market now at the price points below $850,000. And most homes in Solana Beach are above that price.
Despite the recession, we are grateful and humbled to maintain our position as “Leaders” with 12 transactions so far this year (7 sold and 5 in escrow). We had 20 last year, our best year ever. Our average sales price, however, is a lot lower than last year.
We are deeply in touch with both the listing side of the market and the buyer side since 58% of our business this year is listings and 42% is with buyers. This has helped us stay in fine tune with what’s really happening. To see our very appealing listings, click here: Our “Pitch Sheet“
One of the most excruciating challenges has been to get successful appraisals for our pending sales. The appraisers, because of so many lower sales, sometimes come in lower than the sales price!
What this means is that, even if a buyer steps up to the plate and offers a “good price,” the home will still not sell unless it appraises (unless it’s an all-cash buyer).
It is fruitless for a seller to price too high for two reasons: One, they are highly unlikely to get an offer when priced too high. Two, even if they do get an offer in the price range they want, it is unlikely to appraise!
However, we always get LOW offers for our listings. And we ALWAYS have to counter with a MUCH HIGHER number. We have found that the buyers who only want to buy low, then disappear. Buyers who are reasonable, then start an honest negotiating process that ends up at a just number for both parties. We stand with our sellers who are unwilling to sell at prices in the “Doom and Gloom” buyer camp.
When we represent buyers, of course, we make low offers, but these usually don’t work if it’s a nice property or new on the market. In some cases, our buyers are actually competing with other offers. This is another hint to us that the market is shifting through the bottom.
We feel we are moving through the bottom, though you can see that our “X” is straddling two positions.
Prices for ALL North County will continue to stabilize, but are more likely to remain flat than to increase.
We feel that the majority of sales activity will continue this year to be at the price point of $850,000 and below.
HOWEVER, there will be an increasing number of sales at homes above this price during the second half of this year.
Why Buy Now
Prices best in last 3 years
Interest rates at lowest historical level
Recovery kicking in
Good buys available at lower prices
Good inventory will disappear quickly when perception of “recovery” changes
Our buyers are thrilled because we find the right properties & negotiate for the lowest possible price.
Why Sell Now
Perception of “Recovery” is kicking in
Buyers are coming out of hiding
Low interest rates is encouraging buyers to act
Inventory of good homes for sale is moderate
Our listings sell at the highest possible price because of our fabulous presentation, marketing, & negotiating.
We look forward to serving you – as a seller or buyer – whenever that moment arrives in your life. In the meantime, thank you profusely for your referrals. Your friends will thank you forever for connecting us to them.
WHAT WE DO TO HELP OUR CLIENTS SUCCEED
It takes great patience to be a seller in today’s market & great patience for us as well, even though we have been labeled “marketing geniuses.” Almost 60% of our business comes from sellers so we have to be experts — and our exclusive “Top 10 Reasons to Buy Me! campaign has been extraordinarily successful. Our listings are selling, but we have lots of strategy sessions with our sellers to make this happen. Our sign“Someone Special Bought Me!” takes a lot of talent to get hoisted.
It takes great wisdom to be a buyer today too. Is the market going to drop further? Or is this the moment to buy? We help our buyers (40% of our business) to make wise choices and negotiate well. We give honest feedback on the pros and cons of each property based on our extensive market awareness, but we never push. This teamwork with our buyers brings powerful results. After showing 16 homes in one day to a couple relocating here from another state, they said, “We had the best time with you two today!” That’s the way it is for all our buyers.
OUR ADVICE TO SELLERS
Price your property aggressively NOW! Look at the best honest sold comps (NOT your competition that is for sale), price slightly above those comps so you are in the “Strike Zone.” Youwill sell if you do this!
Treasure the first offer. It’s very often the only offer. Don’t make the mistake of thinking, “Oh this was fairly easy, let’s wait for the next offer.” And wait you will!
Don’t give up. Patience is absolutely called for in this market. Give yourself a good 6 months to sell – and longer if you over price to begin with. If you need to sell faster, drop your price now, not later.
Let your home or condo “Pop & Sizzle” in buyer’s minds & hearts. Over 50% of our business comes from our listings and we truly shine in marketing. Our “Top 10 Reasons to Buy Me!” marketing campaign has been called “Genius” not only by our clients, but by our competitors!
OUR ADVICE TO BUYERS:
Buy now. If you are planning to stay put in your new property for the next 3-5 years and you see a property that speaks to your heart, buy now. We feel that the tide has turned and it’s important not to miss this opportunity to buy at the lowest possible prices.
Play it Safe. If you are planning to stay put for less than 2 years, play it safe. There’s no harm in waiting to see if the market has indeed stabilized on prices. Remember, though, when a market turns (and we feel this one has), things happen quickly and those lower prices begin to fade. But even as the market recovers, prices will probably remain stable for at least another year.
Work with the Honor Team. Almost 40% of our business is with buyers and we are amazing at helping buyers find the “perfect” property and negotiating the lowest possible sales price. And we don’t pressure. What you will experience with us is expertise, knowledge, wisdom, & caring beyond your highest expectations.
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