If you’re looking to increase your home’s value, here are five home improvement projects you’ll want to avoid.
Here are five home improvement projects that won’t add value to your home:
1. Extensive landscaping projects. If you want to build a waterfall or a pergola, make sure it'll serve as a source of enjoyment, because these items won’t add to your home’s value.
2. Big improvement projects (e.g., building a new roof or adding a new HVAC unit). Buyers would certainly appreciate these kinds of additions, but that doesn’t mean they’ll make your home sell for more money. Taking on one of these projects would make more sense in terms of avoiding deferred maintenance when you do sell your home.
3. Adding a pool. It gets pretty hot here in Sacramento, but building a new pool on your property won’t bring much of a return on your investment. The only exception to this rule would be if you live in an area where everyone else in the community has a pool.
4. Painting the exterior of your home. While painting does give you the most bang for your buck in terms of home improvement, unless you’re doing that painting on your own, the cost of getting the job done outweighs its benefits. It might make it sell faster, but it won’t add any more value.
5. Adding solar systems. Solar panels might decrease your home’s energy costs, but they won’t increase its value.
If you have any questions about which home improvements make sense in your situation or you have any other real estate questions, feel free to reach out to me. I’d love to help you.
There’s a lot going on in our local market right now, so let’s review three of the most important trends.
Our 2019 market is still in its early stages, and yet it’s already showed some interesting developments. Before we get any further into the year, I’d like to make you aware of three key trends you should keep an eye on:
1. The market is becoming more active. Compared to the end of 2018, pending home sales are up 68%. Homes in the median price range that are marketed effectively and are in good condition are receiving a lot of buyer interest right away, so it’s clear that our market has once again been set into motion.
2. The median home price is rising. The market had depreciated by almost 6% as we entered 2019, but after the first quarter of this year wrapped up, we rebounded with a growth of 3%. And prices continue to grow.
3. Interest rates are still low. Many homebuyers today are locking in 30-year fixed-rate mortgages at rates that are nearly 20% lower than those available at the end of 2018.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
Here are six quick steps to take on the path to becoming a homeowner.
If your dream is to become a homeowner, here are six quick and simple steps to take to reach your goal:
1. Meet with a professional agent. Choose an experienced agent whom you trust and like to help you proceed to the next steps.
2. Meet with a lender for pre-approval so you know how much you’ll be able to afford and so you can get your interest rate locked in.
3. View homes online and at open houses while your agent previews homes that aren’t yet on the market.
4. Identify your ideal home and begin negotiations.
5. Do all of the due diligence and close on the property.
6. Move in!
If you have any questions about these six steps in the process of becoming a homeowner, feel free to reach out to me. I’d be happy to go more in-depth on any or all of these points.
There are many listing faux pas every seller should avoid, and we’re going to count down five of the worst mistakes for you today.
Spring has sprung, which means many people are gearing up to put their homes on the market. Before you list, though, there are five common but crucial seller mistakes you should be aware of:
1. Not properly preparing your home for the market. Over-improving your property can damage your bottom line, but listing your home without bothering to clean or declutter is an even worse mistake to make. If you want to earn top dollar, the key is to strike a healthy balance between these extremes. Make strategic repairs and upgrades where they’re necessary, and make sure your home is generally neat and tidy.
2. Skimping on professional photography. It blows my mind that some people believe photos taken on a cell phone are enough. Our team knows that professional photography is key, and have even gone so far as to use video marketing for all of our clients.
3. Only considering one pricing strategy. When we help clients, we present them with three options we believe will fit their market, needs, and home.
4. Picking an agent based on price alone. The saying “You get what you pay for” definitely applies here. If you hire an agent who lacks experience, skill, and a track record of success, your home sale will suffer. The key to selling quickly and for top dollar is to partner with an agent who has experience, a strong marketing strategy, and a gleaming performance history. If you hire the right agent, they’ll help you avoid every mistake on this list.
5. Overpricing your home. The idea that you can set your price high and simply negotiate down often does more harm than good. Overpricing can cause your property to sit on the market without any offers. Pricing your home at fair market value, instead, will surely bring better results.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
There are five important mistakes that every homebuyer should avoid making in 2019.
If you’re planning to enter the market to buy a home in 2019, you’d do well to avoid making these five critical mistakes:
1. Thinking that you need to put 20% down. Astonishingly, 49% of renters think that they need to put 20% down in order to buy a home. However, there are plenty of first-time homebuyer programs that require little, if any, money down. Depending on the program, 3% to 5% down is all you may need.
2. Working with an amateur agent. You might have the urge to support your friend or family member who has a real estate license, but if that person also has a full-time job somewhere else, chances are they don’t have the expertise that you really need to rely on when it comes to making such an important decision.
3. Thinking you’ll find the perfect house. Here’s the truth: Unless you’re working with a designer who will build you a custom home, there’s no such thing as a perfect home. You need to have a reasonable expectation of what your budget can sustain, and you also need to be able to make some trade-offs.
4. Writing an offer in the hopes of getting a counteroffer. Over the years, I can’t tell you how many clients I’ve worked with have done this, thinking it might be a powerful way to negotiate. Ultimately, they often lost out on that property and the opportunity it presented. Instead, write an offer for acceptance.
5. Removing all emotions from the homebuying process. We don’t need you to be overly emotional when it comes to finding a home, but there is a lot of value in acknowledging some of the emotions you have about a property.
If you have any questions about this or other real estate topics, please feel free to reach out to me. We welcome any comments, feedback, or suggestions for future video topics.
There’s no need to let your home sit for months on the market. Instead, follow these four tips.
Let’s jump right into the four things you need to do if you want to sell your home quickly:
1. Prepare your home for sale and make it move-in ready. Buyers want to feel like all they need to do is pack up and move in. Don’t be worried about spending money on fixes: You’ll likely be surprised at the positive return on investment you can receive by making repairs.
2. Get professional photography. No cell phone cameras here! Hire a professional who has the right equipment and knows how to use the angles and lighting needed to highlight your home.
3. Clean your home. You want people to come through and notice how sparkling clean your home is. Especially make sure to remove any personal items, clutter, and pet hair and odor.
4. Reach millennial homebuyers. Millennials now make up the largest group of homebuyers in the country. You need to reach them online and through social media, as well as highlight any smart home features you have.
If you have any questions about marketing your home or preparing it for sale, don't hesitate to reach out to us. We'd also love to hear your feedback and suggestions for future video content. We look forward to hearing from you!
If you’re thinking of upsizing or downsizing, there are four reasons why doing either might make sense for you
Here are four reasons why upsizing or downsizing makes the most sense:
1. Equity. For the vast majority of home sellers, equity is at an all-time high. Whether you’re thinking of moving into a bigger home, finding a better location, or downsizing and cashing out, accessing this capital is part of the equation.
2. Interest rates. Interest rates are at a six-month low right now, and these low borrowing costs increase your buying power if you’re moving up and enhance your affordability if you’re downsizing.
3. Neutral market conditions. We seem to have transitioned out of the hyper-competitive environment that produced so many multiple-offer situations, and now sellers have to be more flexible. This makes contingent-sale offers much more of a possibility, so you’ll be able to sell and buy at the same time.
4. Inventory. Inventory levels are increasing, which gives you more homes to choose from—especially in the higher-end markets.
If you have any more questions about upsizing, downsizing, or contingent-sale offers, feel free to reach out to me by phone or email. I’d love to speak with you.