San Diego Homes for Sale
Often, homeowners try to “test the market” with a higher than fair-market price when first listing their home. That can be a poor marketing strategy. When your agent tries to talk you out of it: Listen!
Setting “too high a price” will be too high a price for you to pay in the end.
Lowering your price after listing causes a chain-reaction in the marketplace that reduces the status of your listing. In the eyes of other agents that might bring buyers your way, a price reduction raises red flags. Here’s the short list:
You miss the critical first 14 days when buyers and agents are most interested in a new listing. Other agents may dismiss you as an unreasonable seller that would be difficult to work with. Your home can no longer compete with other new listings fresh on the market, particularly if they are more fairly priced for your market.
Buyers may think something is wrong with the home. They may press for more concessions, discounts or repairs, and upgrades.
Relisting your home at a new price is not really a new listing, so agents may simply dismiss it.
Price your home right the first time.
Regardless of what you may believe about the value of your house, pricing it commiserate with five years in the past or five years into the future is to doom your home’s sale.
Current fair market value means: The price that an interested but not desperate homebuyer would be willing to pay and an interested but not desperate homeseller would accept on the open market for your area and based on comparisons to homes in location, size, upgrades and amenities.
When priced correctly, your marketing strategy works for you to sell your home as close to your asking price as possible. We are professionals that know the market for your home. Let us help you price your home fairly from the start.
What if prices are going down?
If prices in your area are trending down when you choose to enter the market, you may want to set your price “under” the fair market value so that you’re not forced to lower your initial price and trigger the results listed above.
What if prices are going up?
You cannot anticipate the market, so if prices in your area seem to be going up you can choose the top end of the “fair” range. Do not overprice your home, however, since market trends are volatile and can shift just enough to place your home out of range. Remember that lenders operate slightly behind the market, so if your home is too high too soon, a buyer may not be able to obtain funding to buy it.
Increase the value, not the price.
As professionals, we work with you to set the right price for your house and get the most for your home sale. Some ways to raise the initial fair-market-value of your home are:
1. Make sure your home is in the best condition possible: make repairs, simple upgrades (e.g., light fixtures, faucets), and clean, clean, clean.
2. Neutralize deep paint colors and strong faux finishes. This doesn’t mean to paint everything white, but a modern neutral such as café au lait, warm gray or deep cream sets a canvass for homebuyers to visualize their own furnishing in.
3. Depersonalize your home: buyers want to see themselves in the home, not the former owners. Remove family photos, trophies, school banners, children’s artwork and other giveaways that might hinder a buyer’s vision for his new home. Make sure none of your personal information is visible: hide bills, letters, cards and other items with your name.
4. Clear clutter and simplify furnishings: As we live in our space, we tend to add, but rarely take away. An extra bookshelf or side table fits our needs, so we ignore that it crowds our space a little. When buyers enter a furnished home, crowded spaces can make the house appear too small. Clutter, even decorative clutter, can obscure a home’s assets such as architectural detail, higher ceilings and beautiful wood trim.
Are you ready to sell your home? Call me today for your complimentary consultation. I'm ready to get to work for you today! Contact me at 760-889-7934!
Experience, Commitment, Integrity.
Alison Peterson, MRP
Peterson Fine Properties
Realtor®- CalBRE # 01872325
Windermere Homes & Estates
Certified Military Relocation Professional
Some homeowners may consider trying to sell their home without the assistance of a real estate professional, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.
Here are five of our reasons
1. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO.
- The buyer who wants the best deal possible
- The buyer’s agent who solely represents the best interest of the buyer
- The buyer’s attorney (in some parts of the country)
- The home inspection companies which work for the buyer and will almost always find some problems with the house
- The appraiser if there is a question of value
- Your bank in the case of a short sale
2. Exposure to Prospective Purchasers
Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an extensive internet strategy to promote the sale of your home. Do you?
3. Actual Results also come from the Internet
Where do buyers find the home they actually purchased?
- 43% on the internet
- 9% from a yard sign
- 1% from newspapers
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
4. FSBOing has Become More and More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.
5. You Net More Money when Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real commission. The seller and buyer can’t both save the same commission.
Studies have shown that the typical house sold by the homeowner sells for $184,000 while the typical house sold by an agent sells for $230,000. This doesn’t mean that an agent can get $46,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
Before you invest in the home of your dreams you may want to find out if this area is the best fit for you. There are so many different and diversified areas in San Diego County to choose from. There are even different "Micro Climates" in our area. You will hear that word a lot when watching the weather around here so you need to know what this means. Micro Climate refers to the fact that while it can be overcast and a chilly 65 degrees by the water in Oceanside, you could find that at the same moment it is 85 degrees and sunny in Fallbrook.
Some areas are known for types of architecture, ammenities, parks, schools and even neighborhoods that are the most pet friendly. Let's not forget that commute factor! Think about your life and the lifestyle you want to pursue. Whatever you are looking for, it is here in San Diego County.
Want indeapth information about homes for sale in San Diego County? Contact me and I will be happy to be of service to you.