June 2017 Orange and LA County Housing Market Update

June 2017 Orange and LA County Housing Market Update (as compared to June 2016)

Closed sales up 0.3%; Sales price up 8%; Homes for sale down 12%

What does this all mean?

This is a sellers market.

If you are a seller the number of homes on the market are lower and being sold faster, which means higher prices because of the competition. You should be able to get at or above list price, if your home was priced accurately

If you are trying to buy, it would be advised to meet with a realtor to try and find those properties not on the market or so you can go to homes the moment they become available.

184 TASKS AGENTS DO FOR YOU

As a Realtor one of the main points I get asked about is what exactly does a Realtor do for their clients.  According to the former President of the National Associations of Realtor there is 184 distinct task that a Realtor does when listing a home for sale.  I linked the article below, but let me discuss and sum up the many steps.

The first set up steps is in the pre-listing activities which a Realtor should be doing most of the time to stay up to date on the market they’re in.  The  next steps are in the listing presentation which is not only important to the Realtor, but should demonstrate to the client what the working relationship and communication would be like.  Next steps are after the listing agreement is signed and when entering the property into the MLS which is most important.  This is a two fold process.  There is both preparing marketing for best first impressions in presenting the property and knowing all about the property details in depth to answer prospective buyers’ questions.  Next is after it’s listed which then involves marketing it and being able to convert at least one buyer to write an offer.  The final step are from when it’s sold to closing, loan process, inspections, and appraisal.  This last part encompass, according to steps listed, involves one third the total work a Realtor does, but gets seen the least because only the buyer and seller see what the Realtor is doing.  Overall the most visible steps in marketing a listing, roughly one third the work gets seen the most.  Here is the link to the original article:

184 TASKS AGENTS DO FOR YOU – SO, WHAT EXACTLY DOES A REALTOR DO FOR YOU? – BY Pat Vredevoogd-Combs, past president of the National Association of REALTORS.

 

May 2017 Orange and LA County Housing Market Update

May 2017 Orange and LA County Housing Market Update (as compared to May 2016)

  • Closed sales up 3%;  Sales price up 10%;  Homes for sale down 5%

Anaheim Market Update:

Homes

  • New homes: -4%
  • Closed sales: -20%
  • Days on the market: -36% (34 days on average)
  •  Average property values: +9%; $636,000 → $648,000

Condos/Townhomes

  • New homes: -30%
  • Closed sales: +26%
  • Days on the market: -60% (21 days on average)
  •  Average property values: +0.2%; $414,000 → $415,000

Orange Market Update:

Homes

  • New homes: -32%
  • Closed sales: -10%
  • Days on the market: -45% (36 days on the average)
  •  Average property values: +0.1%; $753,000 → $754,000

Condos/Townhomes

  • New homes: +2.4%
  • Closed sales: +3.1%
  • Days on the market: -65% (18 days on average)
  •  Average property values: +4.2%; $423,000 → $441,000

What does this all mean?

This is a sellers market.

If you are a seller the number of homes on the market are lower and being sold faster, which means higher prices because of the competition.  You should be able to get at or above list price, if your home was priced accurately

If you are trying to buy, it would be advised to meet with a realtor to try and find those properties not on the market or so you can go to homes the moment they become available.

April 2017 Orange and LA County Housing Market Update

April 2017 Orange and LA County Housing Market Update (as compared to April 2016)

  • Closed sales down 5%;  Sales price up 10%;  Homes for sale down 8%

Anaheim Market Update:

Homes

  • New homes: -18%
  • Closed sales: -15%
  • Days on the market: -37%
  •  Average property values: +9%; $608,000 → $662,000

Condos/Townhomes

  • New homes: -8%
  • Closed sales: +10%
  • Days on the market: -58%
  •  Average property values: +10%; $396,000 → $435,000

Orange Market Update:

Homes

  • New homes: -19%
  • Closed sales: +15%
  • Days on the market: -21%
  •  Average property values: +2%; $713,000 → $728,000

Condos/Townhomes

  • New homes: -14%
  • Closed sales: -17%
  • Days on the market: -35%
  •  Average property values: +8%; $410,000 → $444,000

What does this all mean?

This is a sellers market.

If you are a seller the number of homes on the market are lower and being sold faster, which means higher prices because of the competition.  You should be able to get at or above list price, if your home was priced accurately

If you are trying to buy, it would be advised to meet with a realtor to try and find those properties not on the market or so you can go to homes the moment they become available.

Interesting Tips To Sell Your Home Faster

Introduction

These are different tips I thought were good in implementing to help sell a home.  These are just some of the more interesting ideas from various articles out there.  Check out the links to read more into each article.

13 Tips For Selling Your Home:

2. Post a video love letter about your home on YouTube. Get a $125 FlipCam and walk through your home AND your neighborhood, telling prospective buyers about the best bits – what your family loved about the house, your favorite bakery or coffee shop that you frequented on Saturday mornings, etc. Buyers like to know that a home was well-loved, and it helps them visualize living a great life there, too.

5. Leave some good stuff behind. We’ve all heard about closing cost credits, but those are almost so common now that buyers expect them – they don’t really distinguish your house from any of the other homes on the market anymore. What can distinguish your home is leaving behind some of your personal property, ideally items that are above and beyond what the average homebuyer in your home’s price range would be able to afford. That may be stainless steel kitchen appliances or a plasma screen TV, or it might be a golf cart if your home is on a golf course.

10 Best-Kept Secrets for Selling Your Home:

Selling Secret #1: The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.

Selling Secret #3: The kitchen comes first
You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

9 Deceptively Simple Ways To Sell Your Home Fast:

Get a storage unit

You might think the easiest way to declutter your home is to shove everything into the closets. Bad idea: Anyone who tours your home is going to check out the storage spaces, and disorganized, overstuffed closets only serve as evidence that your home is lacking. Opt instead for a storage unit to house the things you won’t need while your home is on the market. The general rule? Get rid of a third of your stuff. “If you don’t use it every day, store it,” says Justin Seeby, principal at the Graham Seeby Group with Keller Williams Intown Realty in Atlanta, GA. Holiday decorations, baby gear, seasonal clothes, that bread maker you’ve never used — they can all go into storage. Bonus: If you choose a portable unit, it can be transported to your new home, making moving day a cinch.

Promote it yourself

Don’t leave all the marketing up to your agent. Do your part to get the word out about your home by using your personal social media accounts and sending the listing page to family and friends. You never know what friend of a friend or distant relative may be looking in your neck of the woods! You may even consider spreading word about your home in your neighborhood. Send the listing to your homeowners’ association email list and let your neighbors help.

21 Staging tips for selling your home fast:

13. Use “extra” rooms wisely. If you have been using a spare bedroom as a dumping ground for odd pieces of furniture and boxes of junk, it’s time to clean up your act. Each room should have a clearly defined purpose, so think about what potential buyers might like to see here. An office? A guest room? Another kids’ room? Whether you buy inexpensive furnishings, rent them, or borrow some from friends, making a real room out of a junk room will have a big payoff.

17. Show how you can use awkward areas. If you have any room beneath the stairs, or a nook or alcove anywhere in your home, try to find a unique way to show it off. By setting up a small work station, a home command center with a bulletin board, or built-in shelving, your awkward spot becomes another selling point.

How to Sell Your House: 100 Tips for Selling Your House Faster and For More Money:

4. New mailbox – The mailbox is often overlooked as a trivial part of the home- but having a brand new mailbox is another simple and inexpensive way to show potential buyers that the house is fresh and updated. A creative mailbox will also help distinguish the home from the hundreds of other homes on the market.

36. Park a luxury vehicle in the driveway or garage – This might not apply for everyone, and it works better for more upscale homes, but taking a picture with an expensive car in the garage or driveway sometimes subtly gives buyers an feeling that the home is also a luxury item.

67. Know the “Rule of Three” – Knick knacks- such as candles, books, lamps, etc – tend to look the best when placed in a group of three.

7 unique staging tips to sell your home fast:

DIY your own stainless steel paneling

Different appliance surfaces go in and out of vogue a lot more frequently than most of us can keep up with. If you’re dealing with an outdated material on a perfectly fine dishwasher, don’t fret. You can easily transform this piece into a trendy, stainless steel fixture with a little elbow grease. Clean the front panels on each appliance and then carefully apply a stick-on stainless steel film cover. Cut the film down to size and you’re done!

Turn your porch lights on at night

You never know when the right buyer will suddenly appear, so turning on outdoor lights will communicate to homebuyers who might be driving around that you’re home and ready to give them some information—or maybe even a quick tour.

March 2017 Orange and LA County Housing Market Update

March 2017 Orange and LA County Housing Market Update (as compared to March 2016)

  • Closed sales up 8%;  Sales price up 7%;  Homes for sale down 10%

Anaheim Market Update:

Homes

  • New homes: -10%
  • Closed sales: 0 change
  • Days on the market: -15%
  •  Average property values: +5%; $563,000 → $591,000

Condos/Townhomes

  • New homes: 0 change
  • Closed sales: +3%
  • Days on the market: -40%
  •  Average property values: +11%; $384,000 → $427,000

Orange Market Update:

Homes

  • New homes: +34%
  • Closed sales: +20%
  • Days on the market: -29%
  •  Average property values: +1%; $696,000 → $704,000

Condos/Townhomes

  • New homes: -26%
  • Closed sales: +64%
  • Days on the market: -49%
  •  Average property values: +9%; $387,000 → $421,000

What does this all mean?

This is a sellers market.

If you are a seller the number of homes on the market are lower and being sold faster, which means higher prices because of the competition.  You should be able to get at or above list price, if your home was priced accurately

If you are trying to buy, it would be advised to meet with a realtor to try and find those properties not on the market or so you can go to homes the moment they become available.

The 4-7 Pictures That Will Sell Your Home

Background

You may have heard it before, but it is true: “You only get one chance to make a first impression.”  So, why when it comes to selling your home, usually the most expensive asset we own, do we not focus on the pictures we take of it when we put it on the market.  A detailed marketing plan will not only be how many and what quality pictures, but what order and which ones to exclude.  Full disclosure, but as a realtor and as someone who is interested in buying homes, this is what catches my eye when looking at properties.

Research that formed My Opinion

Ideally I look for photos that tell a story.  What you see first when entering a home, condo, townhouse, etc. is the outside, also known as the “curb appeal.” Then is what rooms and areas of the house are important and should come first when presenting photos.  Taking the story telling aspects and what people want to see will give you this order of photos.

This is what percent of people value which room:

room-value

Photo credit: Which Room Do Americans Value the Most?

The 4-7 Pictures That Will Sell Your Home

From this I have formed my opinion of the best order for photos:

Photo 1:

Exterior Shot of the Home From the Front: “What is the curb appeal of the home?”

Photo 2 or 3:

The Kitchen: “What do the appliances look like and are the counter tops and cabinets acceptable?”

Photo 2 or 3:

The Living Room: “What does the flooring look like after all the use it gets and how does furniture fit into this space?”

Photo 4:

The Master Bedroom: “What size beds fits in there and do I have enough room for my clothes?”

Photo 5-7 (optional depending on size, location, and quality of rest of the property:

Exterior Shot of the Home from the Back:  “Is there enough room for what I want to do in the backyard?”

Bathroom: “What upgrades or quality is it in and is their enough space in it?”

View from the Backyard or A Pic of the Closest, Best Amenity to the Home (ex. A Park, Shopping Mall, Cul de Sac, etc.):  “The first 4-6 pictures told me about the home and why it’s right for me, but what about the location.

Conclusion

    In conclusion there is a disclaimer to this order.  You should still have the photographer take care to best frame your home properly showing off the best aspects of the home, and take good, quality pictures.  Also after you put those first few pictures together include more, ideally 25-35 total, grouped in order by room.

     Also if you have a spot in your home you think doesn’t show well, you should determine if it falls into one of two categories.  Is it something that isn’t fixable, like the home being on a busy street, or is it fixable, like a stained rug.  

Either way you should adjust your price and sales expectations.  In the case of the fixable you can increase your home’s value and appeal by correcting the problem.  As far as unfix-able you may just have to accept it and just be honest and upfront.  Don’t try to misrepresent the property.  You may get less interest, but it will be the right kind of interested people.

 

February 2017 Orange and LA County Housing Market Update

February 2017 Orange and LA County Housing Market Update (as compared to last February 2016)

  • Closed sales unchanged;  Sales price up %6;  Homes for sale down %-14

What does this all mean?

This is a sellers market.

If you are a seller the number of homes on the market are lower and being sold faster, which means higher prices because of the competition.  You should be able to get at or above list price, if your home was priced accurately

If you are trying to buy, it would be advised to meet with a realtor to try and find those properties not on the market or so you can go to homes the moment they become available.