Are you going to sell your home in San Jose this summer or fall? Are you wondering how to price your home? Have you been getting conflicting advice about the market in San Jose? Are you confused about the San Jose real estate market?
It is not surprising if you are confused about the best strategy to price your home to get the best price in the fastest time. The market is going through a change. Inventory is up a little, although not anywhere near buyer's market range. The big issue could be the rising interest rates. For homes under a million dollars the increase in interest rates does make homes less affordable for those buyers who are buying at or near the maximum they can afford. On top of that is a decrease in investors who will want to buy the San Jose home you are selling. Price have appreciated so much that many investors no longer see a good return on their dollar and are looking elsewhere for a place to buy rental properties
I am not trying to imply that this is a bad time to try to sell your San Jose home, because it is not, It is just a slightly different market than last spring, and as such you need to take this small shift in account when deciding on a strategy to sell your San Jose home.
Here are the recommendations I give my San Jose sellers when they ask me what price they should list their San Jose home for:
1. Look at the most recent closed sales in the immediate neighborhood and the condition of the homes at that price as well as the lot size and location.
2. Adjust for things like remodeling, noise, structural issues, lot size, and square footage.
3. After adding and subtracting for the differences take an average of at least 3 comps.
4. List just slightly below the average, maybe 1-2%
In this market I would not suggest listing very low in order to generate multiple offers as it may not happen. I would also not suggest to list high to see if someone will pay. I believe if you list close to market you will sell your home in San Jose for the best price in the fastest time period.
If you have any questions about selling a home in San Jose please feel free to contact me.