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Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

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(760) 434-5000

Carmel Valley
(858) 560-7700
jim@jimklinge.com


Category Archive: ‘Thinking of Selling?’

NSDCC Avg DOM, 1st Qtr

sell

Our low inventory has buyers starved for houses to purchase.  When they see a good one, they react immediately – an attractively-priced house will have people driving by within the first hour or two on the market!

Sellers should be aware, and expect to sell their house right away.

Those who don’t shine up their house before listing, or those who get exuberant about price – thinking they have plenty of time – will miss a golden opportunity.  The most desperate buyers are motivated to pay top dollar in the first few days on the market!

Here are the number of NSDCC houses sold up to $1,400,000 in the first quarter, ranked by days-on-market:

Avg DOM
2013 #/SP:LP
2014 #/SP:LP
2015 #/SP:LP
2016 #/SP:LP
0
19/97.0%
8/98.2%
6/91.9%
9/97.4%
1-14
205/99.5%
169/99.4%
160/98.6%
125/99.3%
15-30
80/97.2%
58/97.7%
65/96.7%
64/97.7%
31-60
68/96.5%
78/96.5%
83/96.7%
72/97.0%
61+
157/95.5%
96//94.8%
104/96.1%
89/95.9%

Sellers – you want to get your price, right?

The houses that sell closest to list price are those that go pending in the first two weeks.  These SP:LP ratios are based on the list price on the pending date – the price which typically needs to be lowered first to get a buyer to offer, because they know it isn’t working after the first few weeks.

Hire a listing agent who can handle the immediate urgency – Get Good Help!

Posted by on Mar 31, 2016 in Jim's Take on the Market, Market Buzz, Market Conditions, North County Coastal, Thinking of Selling?, Why You Should List With Jim | 0 comments

It’s Go Time

springkick

We’ve all heard the rule about listing your home for sale in the spring.

But when are buyers actually buying?

Are there any times when the demand could wane, and sellers should avoid?

There are three events that could cause a lull in the demand:

  1.  Easter/Spring Break
  2.  Tax Day/Season
  3.  Graduation Season

If all we had to worry about was Easter Day, then we might lose a few hours – there were plenty of open houses on Saturday.  But families with school-age kids get 9-10 days off, which is tempting for them to spend on vacation.

Should sellers wait?

Then you have the tax-day slowdown, which is usually the 1-2 days that people waste having to arm-wrestle with their income taxes.

Keep waiting?

Graduation season is more than it used to be, with every kid from pre-school through college getting the pomp and circumstance fit for a king.

Good grief – it will be mid-summer by the time every distraction clears!

Let’s examine the most important fact – when are buyers buying?

These intervals below were based on the hunch that the combined spring-break/tax-day season (3/16-4/15) might show some weakness:

NSDCC Detached-Home Closed Sales – Dates They Were Marked Pending:

Year
2/16-3/15
3/16-4/15
4/16-5/15
5/16-6/15
7/16-8/15
2012
264
297
309
307
231
2013
293
362
340
326
248
2014
231
271
303
261
264
2015
264
318
308
311
289
Avg
263
312
315
301
258

How about that!

The spring-break/tax-day season was the hottest of the year in 2015, and on average about as good of a time to sell as any!

It’s Go Time!

Posted by on Mar 28, 2016 in Jim's Take on the Market, North County Coastal, Sales and Price Check, Spring Kick, Thinking of Selling?, Why You Should List With Jim | 4 comments

Pricing Triangle

pricing triangle

Sellers who price their home above market value will appeal to a smaller number of potential buyers.  But there are other variables too, the most important of which is timing.  Once the listing has been on the market for a month or so, buyers expect sellers to lower the list price.

From this article:

http://www.keepingcurrentmatters.com/2016/02/29/how-to-get-the-most-money-when-selling-your-house/?

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. In that way, the seller will not be fighting with a buyer over the price, but instead will have multiple buyers fighting with each other over the house.

Realtor.com, gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

Posted by on Mar 1, 2016 in Jim's Take on the Market, Thinking of Selling?, Why You Should List With Jim | 0 comments

Premier Agent Home Video Tours

zpa

Here’s a great reason to list your home with Jim the Realtor – Zillow is giving ‘special preference’ to listings by Premier Agents that feature a video tour.

  1.  Hopefully this will help bring home video tours into the forefront of real estate marketing.  It is time for agents to embrace video – finally!
  2.  This will help to further magnify the superiority of Zillow’s website over our local MLS, who refuses to allow agent videos to be publicly displayed.
  3.  It demonstrates how Zillow will keep developing exclusive benefits for the Premier Agents who pay them to advertise.

Home sellers will have one more way to evaluate which listing agent to hire – who does the best video tour!

The home video tour also gives the listing agent direct access to the buyers, allowing them to sell the house using video and audio – which might be the more important benefit of the two.

Posted by on Feb 16, 2016 in Bubbleinfo TV, Jim's Take on the Market, Listing Agent Practices, Thinking of Selling?, Why You Should List With Jim, Zillow | 0 comments

Klinge Realty Goes to China!

shanghai

China’s leading international real estate show is coming up next month.  The 11th Annual Overseas Property & Immigration & Investment Exhibition will be March 5-7 at the Shanghai International Conference Center Natatorium.

It is the #1 real estate exhibition in Mainland China!

Buyers were purchasing properties right off the photos at the display booths last year, and they expect another good year in 2016.

Klinge Realty’s listings will be prominently displayed – join in!

If you want your property to receive direct exposure to Chinese investors, contact Jim the Realtor at (858) 997-3801 or jim@jimklinge.com.

Posted by on Feb 10, 2016 in Jim's Take on the Market, Klinge Realty, The Future, Thinking of Selling?, This Is America, Why You Should List With Jim | 3 comments

3D Home Tour

3D camera

Carlos Hernandez from www.touritnow.com did a 3D home tour of my new listing, using his Matterport camera.  Here’s how it turned out:

http://www.touritnow.com/3d-model/7249-ocotillo-street/skinned/

This technology will be the next step in selling houses from afar – do busy people really need to visit in person after seeing these video presentations? It helps to screen out the actual showings too, because there is no hiding anything – if a viewer sees something they don’t like, they can save themselves a trip.

Big picture?  Eventually, the Matterport company will have a library of every house in America….but wait, it’s my listing, and I paid for the tour!

Here is Carlos describing what he does:

Posted by on Jan 28, 2016 in Bubbleinfo TV, Jim's Take on the Market, Listing Agent Practices, The Future, Thinking of Buying?, Thinking of Selling?, Tips, Advice & Links, Why You Should List With Jim | 6 comments

Downsizing/Multi-Gen

multi-gen

Not only are retirees trying to downsize, but the kids are hanging around longer too.  The excellent research by John Burns has put some numbers on the one obvious outcome – multi-generational living.

Percentages in the 40s and higher are more than a blip – the vast amount of downsizing and multi-gen households is a game-changer:

14% of all US households (16.5 million households!) now live multi-generationally, and the numbers continue to rise for three reasons:

A. Delaying marriage has increased the number of young adults living with parents.
B. Surging retirement has increased the number of retirees living with children.
C. Significant immigration from countries where multigenerational living is the norm has also helped boost the numbers.

Most of the US housing stock was not built for multigenerational living, providing a tremendous opportunity for home builders. According to our Consumer Insights survey of more than 20,000 new home shoppers, 44% would like to accommodate their elderly parents in their next home. Additionally, 42% of today’s shoppers plan on accommodating their 18+ older children in their next home.

This focus on providing housing to extended family or friends may also account for 65% of respondents desiring a bedroom with bath on the ground level and 24% wanting a suite with a kitchenette and small living area.

Click below for full article and designs:

http://realestateconsulting.com/multi-generational-households-on-the-rise/

Posted by on Jan 26, 2016 in Downsizing, Jim's Take on the Market, One-Story, The Future, Thinking of Buying?, Thinking of Selling? | 0 comments

Why Improve to Sell?

why paint

During the radio show I mentioned that in my latest survey of NSDCC sales, 42% of the home sellers had owned their home for 12 years or more.

These long-time owners grapple with improvements to sell – where do you start, and where do you stop?

I suggested beefing up the curb appeal, and new carpet and paint.

Improving the curb appeal is understandable; 1) the first impression is critical, and 2) landscaping and power-washing are quick, easy, and cheap.

But carpet and paint?  Why bother?

A common response is that sellers would rather have the buyers select their own favorites – especially with flooring, because there are so many choices.

Here’s why sellers should consider spending the money:

  1.  Any neutral color will work, and anything is better than the used-up, dingy, 12-year old look you have now.
  2.  Buyers typically don’t have great vision to see past old carpet and paint.
  3.  Many buyers just want – or need – to move in right away, and do improvements over time.  New carpet and paint looks move-in ready.
  4.  You’ll look better than the competition.
  5.  New carpet and paint not only look clean, they smell clean!
  6.  You will sell faster, and for more money!

If you don’t install new carpet and paint, the house will be labeled a ‘fixer’ in the minds of most buyers.  You will lose the buyers who can’t, or won’t, afford the necessary improvements (real and imagined), and those still standing will expect a discount off the sales price.

Because buyers aren’t that familiar with the cost of improvements, their idea of a discount will be larger than yours!

(Here is a link to the whole radio show)

http://livestream.com/espn1700/the-lunch-hour

Posted by on Jan 23, 2016 in Jim's Take on the Market, Listing Agent Practices, Remodel Projects, Thinking of Selling?, Tips, Advice & Links, Why You Should List With Jim | 2 comments

Pride-of-Ownership Test

PoH

Anyone who has looked at homes lately can attest to the surprising conditions in which people live.  The lack of maintenance transcends all price points too.

But it’s nothing money won’t fix.

Buyers should surrender early on……and expect to spend at least $25,000 to $50,000 on any house they buy.  It’s easier than trying to find the perfect house that doesn’t need anything.

But looking at houses then turns into a job of making lists of the repairs required. Is there a way to short-cut that process, and just use one simple gauge to know if the house could be a money pit?

When I enter a house, I still walk straight to the backyard first.  It is there that you will find the items that are hard or impossible to fix; yard too small, road noise, neighbors looking in, over-sized pools, etc.

Once we’re past that test, and everyone is getting comfortable with the interior layout, I make my way to the place where you can find the most clues about the seller’s pride of ownership.

The Master Bath – a place where the sellers spend time every day.  The most extreme conditions exist too – high use of hot and cold water, steam and mold conditions, multiple plumbing functions, venting, several appliances in use, laundry processing, etc.  There’s a lot of action going on in the master bath!

With all the action, is somebody keeping up with repairs?

If any room is going to be well-maintained, it is the master bath.  It’s not that big, and the moving parts are simple – a towel rack, a toilet-paper roller, lighting, fan, grout, window, sinks – easy stuff.

Plus, every guy wants to keep his wife happy – so if he is going to fix anything, it will be here.

No need to get into any personal items – just checking the hardware:

  1.  Are the towel racks secure?
  2.  Toilet-paper roller intact?
  3.  Drywall outside the shower or tub wet or damaged?
  4.  Adequate electrical outlets?
  5.  Toilet secured tightly to floor?
  6.  Toilet works properly?
  7.  Sinks drain normally? (two sinks are a must)
  8.  Adequate water pressure at sinks and shower?
  9.  Fan is quiet? Window works well?
  10.  Any sign of biological discoloration?
  11.  Baseboards are dry and tight?
  12.  Mirrors look good?
  13.  Ample lighting?
  14.  Mineral deposits on glass doors?
  15.  Shampoo bottles have a home?
  16.  Solid coat of semi-gloss paint?
  17.  Crisply-applied caulk, especially around the shower faucet?
  18.  Solid and tight grout lines?
  19.  Door that locks easily?
  20.  Is the floor of the sink cabinet dry?

If you are in a hurry or tend to get caught up in the excitement of looking at houses, then just concentrate on what you see in the master bath.

If you check off every item above, then the rest of the house should be in good shape too.  But if the sellers aren’t maintaining this room that has complex features but simple fixes – especially when on the market – then they probably haven’t done much to keep up the rest of the house either.

Posted by on Jan 19, 2016 in Jim's Take on the Market, Repairs/Improvements, Thinking of Buying?, Thinking of Selling?, Tips, Advice & Links | 4 comments

Real Estate Tips for 2016

moving tips

Happy New Year!

Are you thinking of selling and/or buying this year?

Here are some ideas to hopefully give you an edge in conquering what usually ends up being the 1% to 2% difference between the thrill of victory and the agony of defeat!

Home Sellers

  1.  The new listing agreement suggests getting a home inspection prior to hitting the market. It’s a good idea; fix what’s wrong in advance, and then give buyers a copy to demonstrate your pride of ownership.
  2.  Know where you are going to move, and only hit the open market when you are 100% committed to selling. You might get an offer the first day.
  3.  Showing the house is inconvenient but necessary – the more you do it, the better your chances.  Be ready to show the house on the day it hits the open market – and expect dozens of lookers to visit in the first 7-10 days.
  4.  Do two things to make a great first impression; spruce up the curb appeal and insist on top-quality photos.
  5.  Be smart about price.
  6.  Ask agents about bidding war strategies, and recent experiences.  Spreading out the offers on your coffee table and picking one isn’t a strategy.
  7.  Avoid gimmicks like range pricing or ‘coming soon’.  A clean, straight-forward approach is attractive to buyers.
  8.  Determine if a company brand name is a benefit or a crutch.
  9.  Real estate ‘teams’ means you get passed around. Make sure to identify who handles the buyer inquiries, and that they are top-notch sales people.
  10. The buyers you want to attract – the ones that pay too much – are represented by lousy agents who don’t know the difference.  Get Good Help – hire a listing agent who can carry any agent to the finish line.

Home Buyers

  1. See more houses in person.  You have to keep your chops up, because low inventory causes complacency.  If all you do is shop online, you’ll look for any reason NOT to buy, and stay home. But there are no perfect houses.
  2.  Start looking at least six months before your lease is up.
  3. There aren’t many rules, and every listing agent is different.  Work with an agent who has a track record getting buyers to the finish line.
  4.  Don’t expect much from sellers regarding repairs.
  5.  Be open to fixers. To get more comfortable, line up contractors in advance and ask for a sample quote so you know what to expect.
  6.  Expand the target zone, but buy in a great school district.
  7.  If affordability is an issue, compromise on size before location. You can always add on later.
  8.  Properly evaluate the negatives, and the appropriate discounts.
  9.  Know what to do in a bidding war.
  10.  Your agent should suggest an offer price, and a strategy behind it.

These are some basic, general tips, but the best thing you can do is to get an experienced agent on your side – someone who is closing at least a sale per month (check at zillow).  I am available, and would love to assist you!

Posted by on Jan 1, 2016 in Bidding Wars, Jim's Take on the Market, Listing Agent Practices, Thinking of Buying?, Thinking of Selling?, Tips, Advice & Links | 4 comments