California house values in 2017 climbed steadily in many areas of the state. However in 2018, slower real estate market volume was noticeable in some areas in California. The main culprit in slower real estate market should be due to higher interest or mortgage rates and affordability of home prices.
In the latest data reported by Zillow, the median home value in California rose by 8.1% over the last year, as reported in February, 2018. The median home value in California was about $524,000 at the start of 2018. That’s for the state as a whole. The median price is very much higher in some areas, including much of San Francisco, Daly City/Peninsula, San Jose/ South Bay and Silicon Valley.
In San Francisco Bay Area, we have two main real estate selling seasons – in the spring and the fall right after Labor Day. Many people have the misconception that the summer months are our best selling period because families plan for schools and are out buying at that time. However, in San Francisco Bay Area, that is not the case for several reasons.
First, we do not have a large population of children as compared to the rest of the country and school assignments are already done when summer arrives. Second, many people take vacations, which means many buyers, sellers and agents are out of town, thus delaying buying or selling decisions until they get back. Third, there are many events during the summer that takes the focus off real estate.
Now that people are back from their vacations and the weather is getting better, homeowners will be putting their properties on the market. With buyers around, we should be seeing a strong fall real estate market.
If you are now thinking and preparing your home for sale, have you ever asked yourself why some homes sell faster at higher prices than others? The answer lies in the pricing and emotional appeal.
As Broker Associate with Century 21 Realty Alliance and licensed Real Estate Broker (BRE #00635976) in California since 1981, I would like to share with our readers and the general public some information and tips on how to prepare home to obtain the highest possible price.
Purchasing a home, especially for first-time buyers, is a very emotional process and usually creates a very stressful period in the life of the home buyers. Buyers are making the largest financial commitment of their life and are unsure of whether or not they are getting the right deal.
When other people are making offers on the same property, the multiple offers reassure buyers that they are making the right decision because others feel the same way about the property as they do.
As a seller, how do you create emotions so that your property will sell faster and for the highest price in today’s market. Preparing a property for sale is very important because buyers today are busier than ever, so they are looking for homes that are in move-in condition. Here are some tips for inexpensive preparations that will bring returns and positive result for sellers:
1.UNCLUTTER THE HOUSE – It’s very common for homeowners to accumulate so much stuff through the years. By removing large items of furniture and putting belonging away, it makes a home show larger than it is, and gives the impression that the home is spacious and well cared for.
- PAINT THE HOUSE – Painting the house inside and outside can be inexpensive and yet provides the impression that a home is well maintained.
- FRESHEN UP BACK YARD AND FRONT YARD – Freshening up the back yard and front yard and refinishing the hardwood floors will do wonders for showing off the house.
- PUT YOUR HOME FOR SALE AT THE RIGHT PRICE– Make sure to avoid over pricing your home for sale. Putting your home for sale at the right price or even at a slightly lower price will generate more inquiries from prospective buyers and from agents of home buyers. This will generate multiple offers which will result in faster sale of your home above the listing price.
WHY LIST YOUR HOME WITH ART & SALLY TEAM? If you are thinking planning to sell your home, consider the following reasons why select the ART & SALLY TEAM: 1.EXPERIENCED BROKERS – Art G. Madlaing and Sally Satuito has more than 60 years of combined experience as licensed Real Estate Brokers in California. It’s like hiring two brokers for the price of one; 2. SEVEN OFFICE LOCATIONS TO SERVE YOU – Art and Sally are Associate Brokers with Century 21 Realty Alliance at the Main Office in San Francisco and branch offices in Millbrae, Oakland, Hercules, Fremont, San Carlos and San Jose (2 offices). 3. LOCAL, NATIONAL & GLOBAL EXPOSURE – Your home listed with us will be shared to hundreds and thousands of Realtors and real estate agents through several MLS for local exposures. Your home listed with us will also be shared and exposed nationally and globally through the Century 21 National and Global System 4. PRINT & MEDIA EXPOSURE – Homes listed with us will be featured in the weekly syndicated column on “HEALTH & WEALTH by Art GabotMadlaing for additional exposure.
REMINDER & FREE BOOK: There are five (5) reasons why listed homes expire: 1. Very high sellers’ expectations; 2. Over priced listing; 3. Bad Realtors; 4. Insufficient marketing; 5. Poor timing. If YOU thinking of SELLING your home now, you can avoid these by making sure to request your FREE copy and read first “REAL ESTATE & YOU” recommended by Oscar L. Jornacion, CPA/MBA and described by San Francisco Superior Court Judge Ronald E. Quidachay as “very informative book on real estate.” For your FREE copy, just write or contact: ART G. MADLAING, 701-8th Avenue, San Francisco, CA 94118 Tel; (650)438-3531 or (415)584-7095 or email:[email protected]
*ART GABOT MADLAING is a commissioned Notary Public and licensed Real Estate Broker (BRE#00635976) in California since 1981. He is accredited Notary Public by the Philippine Consul General in San Francisco. Art is founder of FITNESS FOR HUMANITY (aka FITNESS FOR CHRIST) and ACAPINOY. He is evangelist at the GOLDEN GATE CHURCH OF CHRIST in San Francisco, California.