Category Archives: Berkshire Hathaway HomeServices Hodnett Cooper Real Estate

Are You Really Ready to Sell?

Are You Really Ready to Sell? If you find yourself saying any of the following to your Berkshire Hathaway HomeServices network professional, you may be hurting your chances of selling your home quickly and for the most money possible.

“I’m not making any repairs.” According to the 2018 Home Buyer and Seller Generational Trends Report from the National Association of REALTORS®, 47 percent of buyers under the age of 37 purchased new homes to avoid renovations and problems. If many buyers don’t have the will, skill or time to make repairs, you’re eliminating a number of buyers who would otherwise love your home.

Are You Really Ready to Sell?

“My home has to be worth more than that.” You may believe your home should be worth more than you paid for it and provide you with enough equity to move. Your listing agent will supply you with tools to understand current market value. The comparable market analysis shows what homes have recently sold for and what other sellers are asking for similar homes as yours, as well as price and sales trends.

“Let’s price it higher and see what happens.” Pricing above comparable homes is a real risk. You’ll outprice buyers who would want your home. Buyers who can afford your home will quickly find that your home doesn’t compare to others.

In any of these cases, you’ll be looking at a price adjustment, and have lost valuable marketing time. Realistically, your home is only worth what the most qualified buyer is willing to pay for your home.

Home Design Trends Straight from the West Coast

Home Design Trends Straight from the West Coast sets the pace when it comes to housing trends and environmentalism.

The Mid-century Home

The first ranch-style home was built in 1932 in San Diego, CA by builder Cliff May, whose low, horizontal architectural design took unique advantage of the climate. Now known as the mid-century home, the ranch-style home is typically a one-level L-shaped box with all or most load-bearing walls on the outside, making the homes easy to decorate and remodel.

Spanish Colonial Revival Homes

For design inspiration, the West Coast utilizes Spanish and Asian influences, as well as indigenous native American Eskimo and Indian cultures. Of these the best known is the Spanish Colonial Revival.

Offering a mix of Spanish Baroque, Mexican Churrigueresque and Moorish Revival, Spanish Colonial Revival homes arose from centuries-old presidios and missions from Spain’s conquest of Mexico. The style features plaster and stucco walls, clay tiles, terracotta or cast concrete ornamentation, and decorative iron trim and is popular in the West, Southwest and Florida.

Environmentalism

Environmentalism trends such as green-building with sustainable bamboo and hemp and xeriscaping with drought-friendly native plants are not only socially responsible, but mandatory in many West Coast communities.

Pacific colors

From the warm waters of the South Pacific to Alaskan icebergs, the blues and greens and whites of the ocean are popular color choices, as well as the terra cottas and yellows of the desert and the deep greens and browns of the forest.

Market Conditions Matter

Market Conditions are like a weather report; they show you what to expect so you can make plans, pick your listing price and decide on your marketing strategy.

One thing is certain: Markets are either going up or they’re going down, so as conditions change, you need to know the long and short-term trends. If the market is heating up, you can ask a little more for your home. If it’s cooling off, you may need to lower your price to attract buyers.

So, how are buyers behaving? Are they making multiple offers and paying over list price? Or are they sitting on the sidelines, looking but not making offers? The answers tell you if you’re in a buyer’s or seller’s market.

seller’s market is characterized by confident buyers, rising prices, short “days on market”, supply levels of less than six months on hand, and offers close to full price, at full price or above list price offers.

buyer’s market is characterized by fearful buyers, longer “days on market,” inventory supply levels of six months or more, and low offers. To get buyers to come in from out of the storm, sellers must offer incentives such as seller-paid closing costs or throw in the refrigerator, washer and dryer.

To find out where your market stands, go over the Comparable Market Analysis (CMA) that your Berkshire Hathaway HomeServices network professional provides you. Using this knowledge, you can price your home to sell quickly, and for the most money possible.