Buying and Selling Real Estate in Contra Costa County
The real estate market in Contra Costa County is in transition from a seller's market to a buyer's market. How does this transition affect you?
For buyers, the current market means you have more choices. You can wait for your dream home to come on the market. You can ask for repairs and credits for closing. However, you must be ready to go.
Are you ready? Have you meet with a lender and are you pre-approved? Find out ahead of time how much you qualify for and what the loan options are.
Do you have a house to sell? If your dream home is also everyone else’s dream home, then you will have to make a strong, non-contingent offer. This means you might need to put your home on the market before you find a house. Your real estate professional can make you aware of all the options available to you
The market is better for buyers today, than it was in 2005. However, interest rates have risen more than 1%. Now is not the time to sit on the sidelines and wait for prices to fall.
For sellers, it means your home must be priced right; updated and staged to appeal to the largest number of buyers; and marketed to both Realtors® and potential buyers.
Pricing your home correctly is critical in today’s market. Pricing too low and you could leave money on the table. Pricing too high and your home will remain on the market with little or no activity. Statistically, homes that are priced correctly sell within 24 days. The only homes selling within the first week are the homes everybody wants. These homes have been updated, staged, and appeal to the widest market. These homes have the “wow factor”. When potential buyers walk in they are emotionally drawn to these homes. They start placing their furniture in the rooms. They see their pictures on the wall. They see themselves making lasting memories.
An updated home that has been prepared for sale will standout from the competition. And in today’s current market, this is what you and your Realtor must do to sell your home. Bring your Realtor in early to start getting your home ready. Use a Realtor who will stage your home. A home that has been staged will receive 4-6% more than the a similar house that has not been staged.
Actively market your home to both agents and potential buyers using all currently available technology. It is estimated that over 80% of buyers begin their search for a new home on the internet. Make sure your home will be seen with multiple pictures, virtual tours, and a spotlight property brochure .
Last year a listing agent could put a sign in the front yard, list your home on the multiple listing service, and receive multiple offers the first day. This is not true today! With a six month inventory of homes on the market, buyers can wait until the perfect home is available. They no longer have to participate in bidding wars. They can even offer less than what you are asking. They can ask for repairs, and they may make their offer contingent upon the sale of their own home..
In today’s changing market, how your home shows, how it is priced, and how it is marketed will affect your selling price and the number of days on the market.
If you are contemplating putting your home up for sale now or in the next 12 months, please give Cindy Ribergaard a call today at (925) 285-4909 to ensure your home is ready to standout from the competition.
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