Are you planning to sell your home?

For many home owners, this is not the right time to sell.  Perhaps your home has declined in value due to the economic downturn and you do not want to sell until prices rebound.  Maybe you simple do not want sell your home during economic uncertainty.     On average,  homeowner sell every 5-7 years and they sell for various reasons including up-sizing, down-sizing, divorce, employment relocation,  estate sale, and other reason dictating a necessity to sell.  There are some things to keep in mind when you decide to sell your home.

This is a great time to prepare your house for sale.   In time, the market will shift again to favor sellers.  No one knows for sure when this change will occur but some possible shift signs includes decreasing inventory and days on the market, price stabilization, shorter escrow periods,  and increased  offers.   Since many potential sellers are waiting for the market to improve, pent up supply will increase seller competition, as the market shifts.   What can you do to attract buyers?

Usually the best priced homes, with prime locations and conditions, sell first.   Pricing your home per the market is crucial, especially during the shift from buyer to seller market.   Market dynamics come into play,  as buyer urgency pulls participants to the dance floor.   Price your home properly and you'll be able to sell your home faster.    There is not much you can do with location.   As my former boss stated often, "It is what it is."   Your home is either in a great, moderate, or poor location.   

Location is enhanced by condition of home.   A home in great condition and move-in ready will sell faster and at a higher price than a home in good or poor condition.  Take time now to improve curve appeal, fertilize your lawn and foliage, trim and clean the exterior areas, especially the front of the house.  Painting is a cost effective way to  improve your home's value. 

Inside the house, uncluttered unused items, thoroughly clean the whole house, and clean/replace the carpet.   Another incentive is to offer a credit for the carpet or paint.   Keep in mind; how you market your home is different from  how you live in your home.  Remember poor condition or location can be offset by a decrease in price.   

Another advantage in selling your home quickly, if you are planning to move is to take advantage of lower home prices.   As the market shifts to sellers, prices increase.    After you sell your home, you have a stronger offer on another home, and you can apply your proceeds as  down payment on your new home. 

How do you plan to finance your new home?  If it has been a number of years since you've financed a new home,  you might want to educate yourself in this area because of all the new lending standards and changes.   Mortgage instability in recent years has changed leader practices and standards significantly.   Documented income, good credit scores, down payments, owner occupied status are part of the norm, not the exception in financing a new home.   Finding a good lender, checking your credit scores is more important first steps.    Remember a pre-qualification letter is needed to place an attractive offer.

Even for the seasoned seller, this market is a challenge and the need to have an experienced, qualified realtor in your corner is a must.  I am ready to serve you with all your real estate needs and provide a team of committed professionals to help you with every aspect in the selling and buying process.   

Call Cesar today at 805.264.1646, email cesarbautista@kw.com, or check out his website at www.cesarbautista.com for more helpful information or list of foreclosed homes.