Just about the time we think we're "legends in our own minds".....along comes a client who has never heard of us or has no idea how long we've been selling real estate and could care less about all the awards and designations we have after our names. They just want to know what we can do for them. And how we can help "them"...... sell their home or their parents' home. And that is definitely ok.
For those of us who have been in the business for 35+ years, I think it's good practice to bone up on your "presentation skills" and prepare a package for a client that actually "shows" them a written market analysis, gives them names and phone numbers or email addresses for previous clients and tells them what you think should be done to the property in order to procure the best and highest price. No dilly-dallying around showing them fancy flyers you'll prepare or photographs that will be taken....that's a "given". If agents aren't doing photos and/or videos of their listings they're missing out. With every property showing up on so many websites now, it's amazing to see the number of "hits" the properties get that have videos. People love looking at videos and that may show off an area of the property someone really has an interest in...like a garden, a pool or a beautiful kitchen. You just never know. So it's just prudent to be prepared and more importantly, be very honest with the prospective seller. Everyone likes to think their home is worth so much more than what a neighbors home sold for down the street......because "theirs" has new vinyl in the kitchen, or a slightly larger backyard or fresh paint inside. But it's in no one's best interest (especially not the seller's) to take a listing that is over-priced. If it's ever priced too low, then WOW you get multiple offers! If it's priced too high, though, it sits there and sits there through minimal reductions until FINALLY you get an offer that is lower that what you should have started at! You get less in the long run than if you'd priced it right to begin with. I can't tell you the number of times I've repeated that sentence. And it's always true. Be realistic. Look at the comps. Compare amenities. Compare square footage. Compare locations. A buyer will. An appraiser will. The statistics and information we use from MLS is exactly the same information an appraiser will use once you procure a buyer.
Don't list with an agent just because they give you a price they think you want to hear. Agents in the business refer to that as "buying" a listing. Be "suspect" if an agent gives you glowing accolades even if you know your kitchen vinyl is old and deteriorated, your hardwood floors need refinishing, and your kitchen needs major updating. Don't be naive .... ask to see comps showing what other homes in the neighborhood sold for and whether they sold close to the asking prices. And ask that agent to do a "net" sheet showing you how much you'd have in your hand when it sold. I do this on a yellow legal tablet and hand it to my sellers at my listing appointment. I also do another one when we get offers.....and 99% of the time, my sellers bring that same net sheet to the title company when we're ready to sign the final papers, just to see how close that net sheet was to what they actually got. And you know what? It's almost spot-on every single time!
Most importantly, expect your agent to be honest with you about what the price should be. Priced correctly, you'll have a timely sale and escrow. Priced too high, well, we've all been there at some point during our career. The calls from sellers inquiring as to why it isn't selling (the price), asking if it's going to be held open again Saturday and Sunday, (14 open houses later and no offer) asking if it's being advertised regularly (don't need to in this market) and asking if you can "re-arrange" the photos that appear in MLS......thinking all this is going to get them the price they want. Sadly, probably not.
Start off right......get it listed, get it sold and get that money in the bank!
Friday, June 9, 2017
Monday, February 27, 2017
SPRING MARKET
SPRING MARKET UPDATE:
If you haven't noticed, our real estate market is sizzling.....great market for sellers but "challenging" for buyers, especially if buyers are in the "under-$400,000" range. If a listing is priced right and shows well it sells instantly AND with multiple offers. If it "doesn't" show well, but is priced below market, it too sells instantly! If you're a prospective seller, be sure to have an impartial walk thru your home to make note of those scuff marks on the walls that may need attention, weeds that need to be pulled, rooms that need "de-cluttering" and light bulbs that need to be brighter. Sometimes we live day to day in our homes and really never notice what may need to be done if we're going to put our home on the market. But a fresh coat of paint, new vinyl or carpeting and clean windows can really make a difference! I just planted some flowers in pots on my front porch and touched up a couple places that had some chipped paint AND added an American flag to my front porch and love the way it perks me up when I drive into my driveway! Added color always livens up the front of a home to give it a little more curb appeal. If you're unsure about how you can spruce up your home for very little $$$$, ask your Realtor (or an unbiased and honest neighbor or friend) to come take a quick peek and give you some suggestions. You might be amazed at how just a few minor changes can make a big difference.
When agents tour new listings on MLS tour or their office tour, I am absolutely amazed when curtains are pulled and it's dark inside, dishes are in the sink and weeds cluttering the flowerbeds. It certainly doesn't give that good first impression. Thankfully, this isn't happening too much anymore.
We're seeing more and more homeowners who understand the value of "sprucing up" before going on the market. No buyer wants to spend $400, $500,$600,000 and have to clean up the yard and refinish the hardwood floors or re-paint when they're spending that kind of money. UNLESS, of course, it's the least expensive home in the neighborhood and they're getting a fabulous buy! In which case, they may be thrilled to take on this deferred maintenance.If you're thinking about making a move, "prepare"......especially if you want to get top dollar.
Just last week when I went on a listing appointment for a seller who had recently passed away, the heirs asked me what they could do to enhance the property in order to get the most money and make it as saleable as possible. The home was built in the 50ies and was neat and tidy but "dated". In this particular case, because there was not going to be a lot of equity, I simply recommended they "streamline" the furnishings and remove a lot of the knick-knacks and family photos. They had asked about perhaps remodeling the kitchen, but I recommended that they NOT do that, because the rest of the home had dated wallpapers and older carpeting. You have to be careful not to take on a kitchen or bathroom remodel when you do nothing to the rest of the house. Once you remodel the kitchen, if there's old carpeting or old wallpapers in other rooms, you'll feel like you need to re-do those rooms as well. In which case you'll end up spending a lot more money than you may have budgeted or planned for.......not a good thing if your equity is limited.
There are lots of ways to enhance a property within your budget. So plan ahead and call your Realtor to see what may or may not benefit the sale. With springtime just around the corner, more listings will be coming on the market and you'll want to make sure "your" home sparkles....when buyers come thru you'll want them to remember it.....for all the RIGHT reasons!
If you haven't noticed, our real estate market is sizzling.....great market for sellers but "challenging" for buyers, especially if buyers are in the "under-$400,000" range. If a listing is priced right and shows well it sells instantly AND with multiple offers. If it "doesn't" show well, but is priced below market, it too sells instantly! If you're a prospective seller, be sure to have an impartial walk thru your home to make note of those scuff marks on the walls that may need attention, weeds that need to be pulled, rooms that need "de-cluttering" and light bulbs that need to be brighter. Sometimes we live day to day in our homes and really never notice what may need to be done if we're going to put our home on the market. But a fresh coat of paint, new vinyl or carpeting and clean windows can really make a difference! I just planted some flowers in pots on my front porch and touched up a couple places that had some chipped paint AND added an American flag to my front porch and love the way it perks me up when I drive into my driveway! Added color always livens up the front of a home to give it a little more curb appeal. If you're unsure about how you can spruce up your home for very little $$$$, ask your Realtor (or an unbiased and honest neighbor or friend) to come take a quick peek and give you some suggestions. You might be amazed at how just a few minor changes can make a big difference.
When agents tour new listings on MLS tour or their office tour, I am absolutely amazed when curtains are pulled and it's dark inside, dishes are in the sink and weeds cluttering the flowerbeds. It certainly doesn't give that good first impression. Thankfully, this isn't happening too much anymore.
We're seeing more and more homeowners who understand the value of "sprucing up" before going on the market. No buyer wants to spend $400, $500,$600,000 and have to clean up the yard and refinish the hardwood floors or re-paint when they're spending that kind of money. UNLESS, of course, it's the least expensive home in the neighborhood and they're getting a fabulous buy! In which case, they may be thrilled to take on this deferred maintenance.If you're thinking about making a move, "prepare"......especially if you want to get top dollar.
Just last week when I went on a listing appointment for a seller who had recently passed away, the heirs asked me what they could do to enhance the property in order to get the most money and make it as saleable as possible. The home was built in the 50ies and was neat and tidy but "dated". In this particular case, because there was not going to be a lot of equity, I simply recommended they "streamline" the furnishings and remove a lot of the knick-knacks and family photos. They had asked about perhaps remodeling the kitchen, but I recommended that they NOT do that, because the rest of the home had dated wallpapers and older carpeting. You have to be careful not to take on a kitchen or bathroom remodel when you do nothing to the rest of the house. Once you remodel the kitchen, if there's old carpeting or old wallpapers in other rooms, you'll feel like you need to re-do those rooms as well. In which case you'll end up spending a lot more money than you may have budgeted or planned for.......not a good thing if your equity is limited.
There are lots of ways to enhance a property within your budget. So plan ahead and call your Realtor to see what may or may not benefit the sale. With springtime just around the corner, more listings will be coming on the market and you'll want to make sure "your" home sparkles....when buyers come thru you'll want them to remember it.....for all the RIGHT reasons!
Thursday, January 19, 2017
Hot real estate market for Sacramento!
Newspapers say Sacramento will be one of the top 10 "hottest" real estate markets in 2017!
......which brings me to how "challenging" this market currently is and will continue to be if these prognostications are correct. If you're a buyer in the say, "under" $400,000 range you can attest to how difficult it is to be successful at purchasing a home these days. It seems every property in this price range either has multiple offers, all cash offers, or it sells in the very first day on the market! From the Realtors standpoint, it's a lot of time and effort. From the buyer's standpoint, it's nothing short of frustrating, to say the least. You begin to wonder whether you'll ever get a property! To further complicate things, if you've got to sell your current home in order to buy the new home, you're put at even more of a disadvantage......because sellers know they don't have to accept a contingency unless they're desperate or their home has been on the market a long time (perhaps because it's over priced?), in which case they may be thrilled to get a contingent offer. But for the most part, if your home isn't yet on the market and in escrow, your chances are very slim. However, IF your home has an accepted offer and is in escrow, your chances improve....especially if the buyer of your house has competed inspections and removed those contingencies. AND, hopefully you were wise enough to counter that you reserved the right to rent-back for 30 days if you need to. That gives you a little bit of breathing room in order to find your replacement property.
If homes are priced right and show well, they're going into escrow lickity-split! Inventory is still low and sellers are getting "probably" more than they would in a "normal" market because of this lack of inventory. In the coming springtime though, I suspect our inventory is going to pick up and there will be more listings to choose from. Hopefully.
IF you are a buyer, get your ducks in a row and get your pre approval from your lender. If you have to sell your home, get it spruced up and ready to show. Do everything you possibly can to make yourself a prime buyer or seller. Talk to your Realtor. He or she will have excellent tips to get you ready.
Our market is so hot and so busy right now, I just can't imagine how much more stressful it's going to be. But be prepared and be ready! Call your favorite Realtor to help you or call me anytime! I'd love to help you however I can!
Patti Martinez pmartinez@golyon.com (916)768-3157 cell or text......PATTIMARTINEZ.NET website.
......which brings me to how "challenging" this market currently is and will continue to be if these prognostications are correct. If you're a buyer in the say, "under" $400,000 range you can attest to how difficult it is to be successful at purchasing a home these days. It seems every property in this price range either has multiple offers, all cash offers, or it sells in the very first day on the market! From the Realtors standpoint, it's a lot of time and effort. From the buyer's standpoint, it's nothing short of frustrating, to say the least. You begin to wonder whether you'll ever get a property! To further complicate things, if you've got to sell your current home in order to buy the new home, you're put at even more of a disadvantage......because sellers know they don't have to accept a contingency unless they're desperate or their home has been on the market a long time (perhaps because it's over priced?), in which case they may be thrilled to get a contingent offer. But for the most part, if your home isn't yet on the market and in escrow, your chances are very slim. However, IF your home has an accepted offer and is in escrow, your chances improve....especially if the buyer of your house has competed inspections and removed those contingencies. AND, hopefully you were wise enough to counter that you reserved the right to rent-back for 30 days if you need to. That gives you a little bit of breathing room in order to find your replacement property.
If homes are priced right and show well, they're going into escrow lickity-split! Inventory is still low and sellers are getting "probably" more than they would in a "normal" market because of this lack of inventory. In the coming springtime though, I suspect our inventory is going to pick up and there will be more listings to choose from. Hopefully.
IF you are a buyer, get your ducks in a row and get your pre approval from your lender. If you have to sell your home, get it spruced up and ready to show. Do everything you possibly can to make yourself a prime buyer or seller. Talk to your Realtor. He or she will have excellent tips to get you ready.
Our market is so hot and so busy right now, I just can't imagine how much more stressful it's going to be. But be prepared and be ready! Call your favorite Realtor to help you or call me anytime! I'd love to help you however I can!
Patti Martinez pmartinez@golyon.com (916)768-3157 cell or text......PATTIMARTINEZ.NET website.
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