When We Sell A Home, Here’s How We Go The Extra Mile, Setting Us Apart From the Rest

Watch on your mobile device >>

Realtors sell homes – but we don’t just sell the home, we sell it well.  What that means is that after your home is listed, you are receiving the most offers on the block and chances are they are among the highest.  How do we do it?  Here’s what sets up apart in the very competitive arena of real estate.  In fact, here is an example of what we did with a recently listed property; the results are amazing!

Down in the Dumps – But Not For Long

Our team was asked to list a home recently obtained by our clients through an inheritance.  Rundown and outdated, the home was badly in need of some work – especially since the owners of this newly acquired property wanted to sell it and sell it fast.

Well, our team got to work.  We outlined a plan that would increase the home’s value, make it useful to potential buyers, create updated spaces within the house that would be up to par with today’s standards and get to our bottom line, which was to get the sellers as much money as possible.

The Plan – And Implementation

As much as a necessity this was to our goal, the process was still fairly simple.  We decided on the items in the home needing updating and set out to update them.  Thousands and thousands of dollars were not pumped into the home in order to sell it rather strategic items were replaced and/or renovated, with budget in mind, so that the home would come up in standard.

Our budget-savvy and results-oriented goal led us to making changes to the floors, cleaning up the house from top to bottom, incorporating some light landscaping and getting the home professionally staged.  We also made the effort to have the home inspected so that there would be no surprises come time for any potential buyers to have a home inspection done.  All in all, after spending not much more than ten to fifteen thousand dollars, the end result was a home in tip-top condition, with shiny wood floors instead of dingy and old carpeting, inviting curb appeal and a general update overall.

The icing on the cake, of course, was having the house staged to perfection so that buyers could envision their own lives in the attractively decorated and set up home.  In fact, there were some issues in the home that were unable to be resolved but were managed effectively as a result of the staging process.

Our Motivation

In our experience, we know that the number one factor in selling a home successfully is to price it effectively.  And to be able to set a competitive price, we needed to make sure the house lived up to the standards of other like-kind properties in the area.  The other main thing to keep in mind when pricing – something we profusely advise our clients – is to set a price benchmark that allows you to have a competitive edge over other sellers.  When buyers perceive a better value, they naturally pursue those properties more aggressively.

Money In the Pocket – All Sides Happy

At the end of the day, the results were outstanding.  The property, valued initially at just under $1 million, generated a significant amount of interest.  Fourteen offers later, the sellers were looking at a wide range of offers in terms of purchase price.  The top offer was $150,000 more than the asking price – $70,000 higher than the next highest offer.  The math is simple in this case:  A home for under a million dollars + $15,000 or so to rehab and stage the home = $150,000 more than the asking price.   It goes without saying that an important part of this equation, like many real estate success stories, is having an agent who can guide you through the possibilities that are out there.
~
This is one example of Realtors going the extra mile in making a home sell successfully and we do this everyday with all our clients – going the extra mile, that is.  In a market where most are concerned about its challenges, our listed home yielded multiple offers and the sellers ended up with tens of thousands of dollars more than their asking price.  What more can you want from the sale of a house?

Amazing Interest Rates, Many Investors and First-Time Buyers – And A Good Time For Long-Term Planning

Watch on your mobile device >>

There is no better resource to learn of how the real estate market is doing, than one who is a top-performer in the market. Knowing the ins and outs, understand the people behind transactions, and having valuable insight into the back-end of things as well as the forefront, you can count on getting accurate and useful information from such a resource. For years, Dominic Nicoli has been the go-to person for all the real estate needs of thousands of savvy buyers, sellers, investors and industry people and as part of Intero Real Estate Services his opinion is a valuable one.

Today, Dominic offers some insight as to what has been happening lately in the market, how we can see these trends affected by the stock market fluctuation, a look ahead and more. For a quick run-down on the happenings of the property market these days, this information is perfect. For a detailed, in-depth and customized consultation on how the market can impact your life for the better, meet up with him in person.

More Ups for Buyers On This Roller Coaster Ride Market

How’s the market in general, right now?

It’s a roller coaster ride and we are seeing lots of interesting times. There is a lot of talk about it being a bad market; in fact that is the prevailing view by sellers. However, with the incredibly low interest rates available these days, it is definitely a buyers’ market. When you couple that with housing prices at record lows – the combination is perfect. Inventory continues to go down while sales go up as buyers seize this amazing opportunity.

Stock Market Impact Not Felt Much In Lower Price Point Markets

Has there been much of an impact on the buyers in the market during this volatile stock market activity in the last 30 days?

Volatility in the stock market will impact anyone serious about their finances, however it’s also safe to say that we’ve become used to three to four hundred point swings on a daily basis as normal. Still, owners, potential owners and investors of properties in the upper-end market in the price point range of starting at $2 million, are definitely cautious and it shows in a diminished number of transactions. Despite these ups and downs in both the stock and housing markets, the real estate industry remains healthy.

Recognizing The Right Time To Reduce Your Home’s Selling Price, So It Sells

Watch on your mobile device >>

Of course we all want to get the most bang for your buck on the house you may be selling but it’s not that simple.  Right now, in the midst of a buyers’ market, sellers have to work very hard to get noticed.  And if they slip up in any way whatsoever, they run the risk of losing potential buyers’ interest altogether.

Buyers Have Sharp Eyes And Are More Savvy Than Ever Before

Today, buyers are far more savvy than ever before.  They know what the market rates are.  They have researched what area homes have recently sold for.  They understand the concept of recovering value from a home as it appreciates over time (something that will be a long shot if an overpriced is purchased).  And they know there is plenty of inventory.  So if they spot an overpriced home, there is a good chance they will simply walk out of your door and into the door of one your neighbors also selling their home.

The single best way to ensure that this doesn’t happen is to price your home accurately from the start.  Why waste buyer’s time and build up their hopes, only for them to realize that the property doesn’t stack up against others in the area in terms of median price or value for price?

Understanding the Signs Of Buyer Disinterest Before It’s Too Late

If you have had your home on the market for more than two or three weeks and the number of prospects started low and that continues to dwindle, you need to get back to the drawing board and perhaps reconsider your price.

If you keep seeing new faces and no repeat customers, then you have something to be worried about.  Almost immediately, anyone who is interested in your property will be active and proactive.  They will show up several times (if not more) and ask a ton of questions.  They will regularly check with your agent to learn of any new developments. And they will keep coming back to reexamine the home and envision themselves in it.

Offers should be coming in within a few weeks of having listed the home.  While they may not come pouring in, there should definitely be at least several serious contenders.  When you don’t see this normal trend occurring with your property listing, it’s time to examine the reasons why fewer follow up visits are taking place.

Disclosure packets are a bustling home-buying activity that goes on a lot but buyers only have them pulled if they are interested.  Unless your property has generated a decent amount of hype in that area, once again you should consider this a sign of lack luster buyer interest and you should do something about it.

Let Your Realtor Take The Lead; They Know What They’re Doing

As a resource of information, Realtors are always a welcome connection in terms of dealing with statistics.  And it is those very same statistics that will help shape whether your home’s price has been set accurately or if it needs to be readjusted.

Realtors keep informed about new market values, the competition and their trends plus they actively listen to feedback provided by other agents as well as, most importantly, their customers and potential customers’ feedback.

If you find that buyers are coming through and seeing your home only once, your open houses are dwindling or have almost no one coming, plus you are not getting any offers or requests for further information – then it’s time to consult with your Realtor, sit down and make a plan.  You can rebound from the damage period and rekindle buyers’ interest with a reevaluation of your property’s selling price.
~
Remember, agents want you to get the best of your money but almost always, that is not achieved by overpricing a property only to have it sit there, while other neighborhood properties continue generating interest and getting sold.  Pricing is the most important piece of the marketing plan that exists.  Without that cornerstone being handled appropriately, transactions will not be seen through on the overpriced properties.  It’s up to you to recognize this and make the chance when the time is right.

Moving Out? In Today’s Real Estate Market, Which is Better, Renting or Selling?

Watch on your mobile device >>

Contrary to what many experts, news media or analysts may have you believe, market conditions are not as bad as they are portrayed.  In some areas inventory is down, prices are up and the general consensus is a positive one, moving up in a positive outlook for the future.  But the question does arise when one is moving from a home – whether selling it now or renting it to hold out for a better selling price makes more sense.  Here we’ve put together some considerations that will help you discern which is the better choice for you.

Real Estate Is Always a Gamble, Now’s Not Any Different

There is no real way to tell exactly how the market will behave at any given time in the future but currently all trends reasonably point to both options being equally as viable.  If you opt to keep your home and rent it out, say for the next couple years or so, then there is a chance that prices will hit rock bottom and then begin to climb up again during that period.  However, there is also a chance that prices continue to plunge – in which case you would have been better off selling while a bit ahead of the game.

The main thing to keep in mind here is that even though things go up and down in the short term, real estate is a great long term investment and it’s fair to say that ultimately there will be a gain on your property value.

Buyers’ Market Today, Who Knows What Happens Tomorrow

So many indications of it being a strong buyers’ market these days make it seem that the opportunities on the buying end of things are endless.  However anything can change and it can change fairly quickly.  Take our current interest rates.  Though buyers have been used to seeing such historically low interest rates for some time now, if the government decides to raise the rates it will instantaneously change things.  Since buyer’s ability to purchase will be affected in a major way, prices will concurrently come down.

Heavy Foreclosure Inventory Appears to Dominate The Coming Path

Nationwide there are literally millions of foreclosure properties out there that need to go through the system.  As foreclosure and short sales flood the market, prices will plummet as a result of these distress sales.  In some markets this trend has crept into the upper-end niche of the real estate industry.

Why Renting Can Be Risky

If a homeowner rents out their property and while it is on rent the condition of the property suffers some damage – then they have negatively impacted the value of the home during a time when they had hoped for an increase in value.  This is the single biggest gamble when it comes to choosing to rent your home rather than selling it.

Also, there is no way to tell what the condition of the selling market may be when it comes time for you to decide to sell.

Consult With Your Realtor To Assess Your Options

Realtors deal with myriad situations on a regular basis and they also intimately know the statistics of your neighborhood and surrounding areas.  By consulting with a trusted and reputable Realtor in your neighborhood, you can gain ample perspective on exactly how your property might fare in today’s market conditions.  An informed decision would be made, given the factors at hand so you can be assured that your choice is the best as per your own situation.

Three Essential Things To Keep In Mind When Choosing An Agent To Sell Your Home

Watch on your mobile device >>

All real estate agents are not created equal. They may have access to the same systems, the same information and market data, similar industry tools used across the board and universal access to government agencies that house important data that may be relevant in helping you sell your home. So what sets apart the successful ones from the bad apples? It is how they use the things that are at their disposal – that is what makes all the difference.

Now, unless you are completely well versed in the process of home selling and real estate, chances are you may not know all the ins and outs of these tools. So how can you measure the success rate of potential agents you may or may not want to work with? The answer lies in three important metrics that you can easily employ to help you make that decision.

Does The Agent Have a Proven Track Record?

Anyone can tell you they are good. They can even show you a few case studies that support their statement. But the best way to tell whether the performance is up to par is to measure how they do and have done during the good times and the bad. These days, in light of our challenged market of the past several years, it is the perfect time to assess the track record of agents you may be considering. Do they have sales that average one every few months? Is this metric standard for all their years as an agent or reflective of the more recent hard times?

What Is The Agent’s Marketing Strategy?

In real estate, the marketing has traditionally not been as aggressive as other areas of investment. Lately, however, there has been an increase in more aggressive techniques that more often than not lead to success for several reasons. Agents typically adopt passive marketing measures – industry standards – such as MLS listings, conducting open houses, using the Internet for localized promotion as well as word of mouth. However, the newer brand of marketing is active marketing. This entails a “reach out and grab prospects” approach and while it may seem pushy, the results are worth it. The difference between an agent opting for both styles versus just the one, traditional method, can be as significant as landing you a better offer in quicker time with a bigger selling price. The presence of an additional offer on the table raises the stakes, making all these things possible and far more probable than if there was just one offer on the table.

What Does The List of References Look Like?

Of course you will be provided a list of references while shopping for a new agent. And of course the people on that list will have good things to say about the Realtor. But consider this: what agent will give you a list of people that don’t have something nice to say? A good way to approach what could be a gaping hole in this area is to ignore the list provided to you and instead, request a list with names of people the real estate agent is either currently working with or with whom he or she has recently closed a sale. Then, ask the key questions to help guide you whether this is the right agent for you: Are they timely? Is the agent accessible? Do they deliver on the promises they make? What were the results of each case?
~
At the end of the day, the goal is that you sell your property and sell it well. Selling it well can translate to a higher price, more efficiently managed procedures, smoother and streamlined process, and an overall quicker turn around time. By following the suggestions in this article, you will be able to discern the best agent in your area to handle your specific needs. Half the battle of selling your home is in choosing the right agent to help you achieve your goal.

The State of the Los Altos Housing Market Today

Watch on your mobile device >>


How exactly is Los Altos doing compared with the rest of the country housing market? We’ve heard horror stories of how there is no hope in this bleak economy. But, read on, because I’ve got great news for you!

Compared with the rest of the country, Los Altos is doing incredibly well in this overall rough nationwide housing economy.

Currently we have 64 total homes on the market. That is a relatively low number for this time of the year.
We’ve had 16 properties sell in the last 30 days. In contrast, we had 20 new properties come on the market during the same time period.

These statistics are great news if you are thinking of selling your home or currently have a home on the market. Things are moving quickly and that means a much quicker and more profitable sale for the seller.

Overall, if you look at Santa Clara county as a whole, it has about 4,600 houses on the market right now. That’s a lower number than this time of year.

At the same time, we are seeing 1,600 homes selling each month. This is a very healthy number. There were only about 2,000 homes put on the market last month.

The market is healthy in Los Altos and it’s a great time to buy or sell real estate. Despite the nation’s housing marketing, the one in Santa Clara county’s is thriving.

Huge Selling Success Sometimes Come From the Smallest of Things

When most people put their home on the market, they expect and hope that it sells fairly quickly. The idea of more than one open house or constant showings can be daunting and also very exhausting, especially when you factor in daily life and the normal busy schedules to contend with. But with a bit of careful planning and some time spent toward setting up the house for sale, there is a tried and true success formula that will ease the burdens of having an unsold home on the market for a long period of time. Here are four basic, manageable things you can do to help the selling process right along.

Add Pizazz With Paint

One of easiest, simplest and least expensive ways to spruce up a home is to coat the walls with some fresh paint. One trip to the home store, a few cans of paint, some brushes and a weekend is all it takes to add a whole lot of extra pizazz and interest to the space. Make sure you pick neutral colors and coordinate with the existing furnishings. While you’re at it, simplify the way you set up the furniture when you put things back – and voila! Buyers will be drawn in to the clean and “new” feel of the place.

Bring in New Carpet

Even though you may not think the carpet needs changing – trust us, it needs changing. For a relatively small investment in livening up the space, changing the carpet by installing a newer style or a better color/texture is one of the best ways to attract buyer attention. Depending on the rooms that have carpeting and the time that it was last changed, you should carefully choose the type and style according to the expected use of the space. Buyers will be very keen on moving their own stuff into the area if they like what they see, including on the floors.

Take a Look at the Outside

A lot of people neglect to consider the first impressions left on potential buyers when it comes to looking at their home. Curb appeal is a very important part of making sure buyers’ experience of visiting your home is an enjoyable and hopefully fruitful one. All it takes is a little bit of time and attention to things like the walkway, existing trees, plants, hedges and flower patches. By taking the time to neaten these areas up and add some interesting elements such as a few strategically placed luminaires or an outside rocking chair with a garden statue, you will create a fabulous overall impression – on all sides.

Make Sure No Stone is Unturned

Imagine walking through a home you are considering buying – and spotting a cracked light switch or a leaking pipe. Things that are not only unsightly but also unappealing can detract a buyer’s interest and potentially cause you to lose a sale. When you are about to put up your house for sale, it is a good idea to walk through the entire house and make a list of all those things that would be an “eye sore” to buyers as they walk through during their “window shopping”. At the end of the day, a few small repairs and a little bit of expense incurred at this stage can make all the difference between selling or not selling your home.

As with a lot of things that we do on a large scale, the little things can often be drowned out and forgotten. When you are in the process of selling your home, these little things will take some extra time and effort but in the long run following through with them will prove beneficial and provide fruitful returns. It’s worth it!