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

Carlsbad
(760) 434-5000

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


Category Archive: ‘Why You Should List With Jim’

Discount Off List Price

At every open house, people want to know, “How much lower?”

It is relative to the usual factors – how long on the market, seller motivation, etc. – but what over-rides everything else is timing.  It is early in the selling season now, and every seller is optimistic.

Even if the house has been on the market for months – or repeatedly ‘refreshed’ over several years – every seller thinks this is a new beginning.

If you look at the recent averages, big discounts are rare – buyers are lucky to get 5% off, especially in the first half of the year.

Here is the history of discounts off list price in North SD Coastal:

SPLPratios

Houses sold under $1,400,000 have barely knocked off 2% to 3% from the list price over the last three years.  Those between $1.4 and $2.4 had a great year in 2015 – above 95%.  But every price range does better in spring.

Posted by on Jan 31, 2016 in Jim's Take on the Market, Listing Agent Practices, Market Conditions, Spring Kick, Why You Should Hire Jim as your Buyer's Agent, Why You Should List With Jim | 0 comments

Open House Report

2016-01-30 13.10.03

Thoughts and reactions from today’s open house:

  1. For those looking to buy a newer 4,000sf single-story house, there were ten sold in the last 12 months – in the county!  They are in remote areas – Fallbrook, Valley Center, Rimrock, Jamul, etc., and they cost about the same. It makes Santee look like the middle of town – and this is a superior view!
  2.  Neighbors agreed that the east side of the street was the preferred location. Why? Because the east side is cooler.  The west side of the street gets the afternoon sun, and either your houses bakes for hours or you have to at least lower your blinds, which negates the benefit of having a view.
  3.  People have been disappointed so often with homes that their expectations are low – they don’t want to get their hopes up.  When they do see an impressive house or spectacular view, some folks get downright giddy – open house feels like a party!
  4.  The price is understandable, and nobody complained – which they usually do if they don’t like it.
  5.  There were 100+ people who attended during the 11am-3pm stretch.  Many were neighbors, but they are good candidates for moving up the hill from the tract below.
  6.  People love solar – free air conditioning!

ocotillo map

I’m not sure when it will happen, but I have confidence that this home will sell!

Posted by on Jan 30, 2016 in Bubbleinfo TV, Jim's Take on the Market, Listing Agent Practices, One-Story, View, Why You Should List With Jim | 0 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

One-Story Wonder!

7249-ocotillo-st-001

Are you looking for a practically-new single story house with spectacular views and is suitable for multi-generational living?  A newer house (built in 2009) with ten-foot ceilings? With house and pool solar-powered? All for just $1,199,000!  Click below for video tour!

(solar is owned, not leased)

Richard and I will be doing open house this Saturday 11am-3pm!

Posted by on Jan 27, 2016 in Boomers, Bubbleinfo TV, Interesting Houses, Jim's Take on the Market, One-Story, View, Why You Should List With Jim | 3 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

No Portal Exposure

Have you noticed that some listings aren’t on the real estate portals?

There are two ways that it can happen.

There used to be an agreement between our MLS company, Sandicor, and Zillow/Trulia, to upload our listings automatically.  But as a result of a dispute between them over the last year, there is no auto-upload.  Some agents don’t know that they have to manually upload their listings, or wait for their brokerage to do it for them.

That’s the reason you’ll see a listing on other portals but not Zillow/Trulia.

But some MLS listings aren’t on any portals – even realtor.com.

How does that happen?  Below is a snip of the actual online listing input form.  The red Rs mean that they boxes are required to be completed, and the default answer is ‘Yes’:

internet listing syndication

If you see a sign in a yard, or get a listing direct from the MLS and can’t find it anywhere on the real estate portals, it means that the listing agent has clicked ‘No’ to several boxes to be excluded.  The agent has deliberately chosen out.

Back in 2012, Jim Abbott made waves about listing syndication (LINK), but he sold his company to Carrington earlier this year.  It looks like their listings are being syndicated now.

But there are still other holdouts.  If you are thinking of selling your home, a good question to be asking a potential listing agent, “Will my home be advertised on the real estate portals?”

Get Good Help!

Posted by on Nov 22, 2015 in Jim's Take on the Market, Listing Agent Practices, Thinking of Selling?, Why You Should List With Jim | 4 comments

Selling Your Home Around the Holidays

estates sunset 048

If you are thinking of selling your home, it is tempting to wait until spring before going on the market.  Here are reasons why you should drop everything and call me today!

  1. Virtually no competition – Sell when everyone else isn’t!
  2. Inventory is picked clean – Buyers would love to see new choices.
  3. Fewer looky-loos means less showing hassles – Motivated buyers only.
  4. Holiday decorations = Instant staging.
  5. Price Discovery – If no takers, cancel after 2 weeks and try again next year.
  6. Rates have gone up, and the Fed hasn’t done anything yet!  The best way to combat rising rates is for the seller to offer a rate buydown.  The Estates off CV Road is offering to buy down your rate today to 2.625% for a 10-year interest-only loan, which is a nice incentive.  Offering a rate buydown is cheaper when rates are lower – paying to get the buyer a 30-year fixed rate below 4% in spring may be costly.

In other parts of the country where the weather is bad, it’s understandable to take the holidays off.  But here it’s going to be 74 degrees today – which is great home-selling weather!

The bottom of the San Diego market was April, 2009 – we’ve been on a six-year run, and overdue for a burst of inventory. If that happens on your street or neighborhood, you’ll be glad you sold now.

If it helps, we can close escrow in January!

Posted by on Nov 13, 2015 in Jim's Take on the Market, Thinking of Selling?, Why You Should List With Jim | 1 comment