Los Altos Market Trends - WOW! Sales are up almost 50% in our market, this is GREAT NEWS!

I’m so excited about where our Los Altos market is finally going that I just had to share the good news with you!

If you’re thinking of selling your home, the time is now for the following reasons:

- Our inventory is down about 30% from a year ago!
- Sales are up almost 50%!
- Prices are starting to climb due to low interest rates and low inventory.
- Many properties are getting multiple offers!
- Spring buyers are out!

So, what does this all add up to – lots of competition for your home! And that means you’ll get the best price possible once you’re in the market!

Here’s what you need to do – contact me today to find out to find out the values specifically related to your home and your neighborhood! I’ll put together a market analysis specifically geared to your property and your needs!

Call me right now at 650.947.4787 or go to www.TheNicoliGroup.com! And…Happy Springtime!

When’s the Best Time of the Year to Sell Your Home?

Everybody believes that spring is the best time to sell a home! 

After all, the most buyers are out…the flowers really add to curb appeal…parents want to get their kids into school before summer ends…and so forth. But, you know what? It’s a myth! Of course, spring can be a great time to sell, but not always as most people believe!

That’s because the housing market could care less about what time of year it is. Here’s what really determines the best time of year for sales:

When the inventory is lowest and demand is at its highest!

That’s it! That’s all there is to it. But, rather than have you just accept my word for it, let me give you some research I did on the market over the last few years, first in selling and then in buying. Read on and get your eyes opened!

Best Selling Months (2005-2009)

2005 - June
2006 – February
2007 – March
2008 – October
2009 – November

Best Buying Months (2005-2009)

2005 – November
2006 – September
2007 - October
2008 - May
2009 - April

From the list above, you can see the proof of what I said. Depending on the year, the best months for buying/selling could range from spring to fall to the dead of winter!

Conclusion: The best periods for buying or selling a home have nothing to do with the seasons! It all has to do with supply and demand, interest rates, economic conditions, and so forth.

So, what all this information tells you is that you need to contact us today to find out what’s actually going on in the housing market! Don’t simply wait until spring; otherwise, the prime time to sell or buy may pass you by!

Call us today at 650.947.4787 or contact us immediately at dnicoli@interorealestate.com and we’ll give you the latest news on market conditions! Don’t wait!

What Exactly Determines the Value of Your Home?

A Home is Only Worth as much as its Market Value.

Market value is determined by a comparison ("comp") with homes similar to yours in the surrounding area. So, if the homes in your neighborhood average, say, $250,000, then it's likely that the value of your property will fall in the range. But market value is also determined by a number of factors including the following:

External Factors

There can be several external factors influencing the value of your home. One is "curb appeal", or the first impression your property makes upon prospective buyers.  

A home that's in excellent condition on the outside will make a great first impression; a home in poor repair instantly loses its appeal to buyers. Other factors can include lot size, popularity of an architectural style of property, water/sewage systems, paved roads, sidewalks, etc.   

Internal Factors  

The condition of a home's interior also has a huge influence on prospective buyers. When you've demonstrated "pride of ownership" and kept up the maintenance (quality paint, trim, molding, etc.), a buyer's interest will immediately perk up. 

This is because they know your pride of ownership will result in less cost and maintenance for them. Other internal factors include construction quality, condition of appliances, size and number of rooms, heating/cooling type, energy efficiency, etc.

Supply and Demand 

"Supply and demand," simply refers to the number of homes for sale versus the number of buyers. When there are more homes than there are buyers, prices tend to be lower. When there are a lot of buyers chasing few homes, then prices tend to rise. As a result, supply and demand affects how quickly your home will sell.  

But I Know My Home Is More Valuable Than a Lot of Comparable Homes in My Neighborhood?   

Aren't Allowances Made for This? Definitely! Sometimes, it can be difficult to find homes exactly comparable to your own. So, dollar adjustments are made for the differences between your home and comparable properties. 
 

Where Do I Find Sales Comparison Information? 

The easiest source to access is your Realtor. After all, it's his or her business to know such information! But, there are also other sources you can tap into in order to get a complete picture of your home's value in comparison to others in your neighborhood. Here's an overview of them:

1. ) The Local Assessor's Office

It's very likely that your local assessor will be able to provide the sales history of a particular house, neighborhood, or style of architecture. Many assessors also provide lists of recent sales which you can browse and compare to the assessment roll. Today, many municipalities provide local sales and assessment information online making it very easy to access. Check with your local government agency to find out if they provide this service.  

2.) Online Private Companies  

You can search for these companies using the Google search engine and the keywords "comparable home sales" or "comparable sales." Some companies offer free information; others charge a nominal fee. If you wish to get more specific, you can Google "real estate database" and type in the name of your particular state to get additional property information. 
 

3.) Your Local Newspaper 

It's likely that your local newspaper is a great source of specific real estate information. Look for quarterly sales reports in the real estate or business sections.

The Key to Getting the Price You Want  for Your Home

The key to getting the best value is finding and matching the right buyer to your home. And that's the job of the Realtor! He or she should work hard to qualify those buyers upfront so the right people are viewing your property! In other words, the Realtor should weed out "lookers" and other unsuitable buyers as a first step in working with you. 

See how I do that for you by calling me at 650.947.4787  or email at dnicoli@interorealestate.com.