May 19, 2022

CAN I STILL GET A FORTUNE FOR MY HOUSE??????

Our market is still favoring sellers, no question about it.  The rise in equity from last year to this year is amazing!  Good for you if you bought your home 2 years ago, because now you've seen at least a 25% increase in equity, and probably more.  The "less than" stellar news is that we're seeing more and more open houses each weekend, which means, in my opinion ....... sellers were getting too aggressive in their asking prices and now they're  forced to have open houses every weekend and sometimes 2  or 3 each week....in the hopes of getting that coveted buyer who has to have lots of cash to put down in order to qualify at today's interest rates.   In our market here in Land Park (and East Sacramento for that matter) $700k seems to be the median price.  Yesterday on tour we saw several "fixer upper" homes with old carpeting, brown and gold tile and old windows, next to the freeway asking $789,000!!!  Now yay for that seller if they get it, but a buyer has to think about having to listen to the roar of the freeway, let alone the cost of bringing the property up to standard.....and I don't even mean a fabulous remodel.  That's just refinishing the floors and remodeling the kitchen and bathrooms....and painting.  And the backyard was icky to boot!

My suggestion......and one that has held true for the past 30+ years,  is spruce your home up.  De-clutter,  add fresh paint,  fix up your yard,  and stage it a bit ..... then price it just a titch under what your Realtor thinks is the best price (based on the comps). Generally, that means you'll get lots of interest and multiple offers!  Don't  think that having finger prints on the walls,  lots of family photos, old carpeting and lots of clutter is going to get you top dollar.  At these prices, no one wants to buy a home that smells like a wet dog or they have to totally remodel UNLESS, of course,  the price is right and it's a great buy. That's different.  But statistics show that just giving your home a fabulous cleaning,  maybe some fresh paint inside and de-cluttering will make a BIG difference in how much activity you'll get on your home and what kind of offers you'll get. And don't overlook your front porch and entrance....fresh bark or soil and fresh flowers make a home look "inviting"......and make sure your threshold and front door are freshly painted and pristine.  Buyers are very savvy these days.  Don't under-estimate the research they've done before heading out to view homes.

Regardless of interest rates,  folks are always buying and selling for a multitude of reasons.  Death, divorce, job transfer, moving out of state....be diligent and prudent whether buying or selling.  And pick an experienced professional Realtor to help you!  It's money in the bank whether you're looking to buy or looking to sell.  If you have questions, feel free to call, email or text me anytime! I'd love to help you. PATTI MARTINEZ  (916) 768-3157  PATTIMARTINEZ.NET   pmartinez@golyon.com  

REALTOR EMERITUS.