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

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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?
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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

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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!

Spring is In the Air for Silicon Valley and the Numbers Are Looking Good

Spring is looking good for residents of Santa Clara County, Los Altos and Los Altos Hills. With a promising and healthy trend of balanced numbers on the scale of homes for sale vs. homes fresh off the market, there is much to look forward to as we roll into the warmer months of Spring and Summer. Here are the latest stats that show some very good activity on the market.

Santa Clara County

In the last 30 days, we’ve had 2200 homes come on the market and 1815 roll off, either having gone under contract or in pending status awaiting finalization. These numbers show a solid average of about one to one in terms of houses sold versus houses entering the market.

Single-family homes, condominiums and townhomes are showing some strong numbers at the present time, with 4701 properties on the market – a very normal number for this time of year. The number of closings we’ve seen are 949 – which is a fairly good number of closing transactions for this time of year, promising quite a healthy outlook in the near future.

Los Altos

Even stronger than Santa Clara County, Los Altos had a total of 49 properties actively listed for sale, 33 pending sales and 13 properties that closed out last month. While the number of closings is lower than the average figure, pending sales and listings are yielding a very strong 1.5 to 1 average ratio of homes for sale vs. homes that are selling.

The bottom line in this market is that things are moving right along, at or above par, and the trends are pointing up.

Lost Altos Hills

Out of 41 active listings with only 12 pending sales, the ratio of homes listed versus homes selling or sold is a weaker one at almost four to one. The low number of six closings from last month indicates a slower than average trend but then this makes sense given the higher average price of properties in Los Altos Hills.

No matter how you slice it, the overall Spring trend in Silicon Valley looks good. Healthy ratios of homes listed versus homes pending sale make this market a promising one, especially for sellers. By leveraging the low inventory as opposed to high numbers of buyers in the area, homeowners can greatly benefit from the current market trends. The important thing to remember is that regardless of many people’s trepidation about the current market, the outlook is looking up and is looking good!

Market Timing: When is the Best Time to List Your House?

Should you put your market on the house before the spring rush? Or, is waiting until you have more buyers and interest the best time to list your home for sale? Questions like these look for the best strategies when it comes to real estate market timing. When ultimately is the best time to list your home and get the largest possible profit?

Does History Predict the Future?

Looking back on the real estate trends last year can be beneficial for future forecasting. Based on examining data from the previous year, we get a general idea of whether or not the market will quickly pick up in the coming months.

Currently in Santa Clara county, we have a 1:1 ratio of homes for sale and homes that are selling. This is a great number if you are selling your home. We were at a similar rate at this time last year.  By April of 2010, the inventory of homes on the market actually increased by 50%. However, the sales of homes only increased by 25%.

What does this trend from last year mean? When the ratio of homes for sale and homes sold each moth was equal, this was great for a seller! But once spring rolls around and inventory increased, there was greater competition among sellers. Home buyers were at the advantage and buyers were at a slight disadvantage, compared to just a couple of months before.

So Is Today the Best Time to Sell?

The new year just “sprung” and you may be wondering what all this data has to do with your home. If you plan to sell in the next few months, and if last year is any predictor, today is the best time to put your house on the market.

Why? There are fewer homes on the market right now and this gives your home a distinct advantage. It also gives you a much greater probability of selling your home and doing so quickly. Provided interest rates don’t take a nose dive or dramatically skyrocket, right now is a great time to put your home on the market. In fact, today is better than putting it on the market during the upcoming spring rush.

“When is the best time to sell?” is the million dollar question in the real estate market today. If you study the trends of last year and see what our current trends are, they show that today is the best time to sell your home. You should sell it quicker and yield a higher profit in the end. This is great news for home sellers today!

Up and Coming Trends for 2011 – Business As Usual for Most of Us!

Everyone wants to know what to do next. Should they sell? Is it the right time to finally buy? Hold off on all things till the real estate sun shines brighter? One thing that will help you decide whether or not to buy that dream house with the kidney-shaped, mosaic pool is to know what to expect in the coming New Year. We’ve put together some projected trends for your benefit, based on how things progressed from last year to now.

2009 vs 2010

Looking at property sales figures and comparing them from 2009 to 2010, there is an obvious increase. As much as ten percent or more higher this year, what’s promising is that this is a very normal tendency in a stable market. This year in most typical markets there was an average of 11,000 properties sold as opposed to last year’s 10,000, which means that the relatively normal movement indicates a positive, upward curve.

Higher Median Price Range

Our median prices have gone up about 25% up from what it was in 2009. Contrary to a common misconception, an increase in median price range does not mean that the prices have gone up. In fact, what it really means is that there is a significantly more activity in the higher priced properties; all very promising signs for us.

Fewer Days on Market

The average number of days on market (DOM) for many properties has significantly reduced – as much 40%! Another way of looking at this is that there is an average 40% decrease in time it takes for the usual property to sell. In other words, things are looking up!

Lower Interest Rates Stay Low

We all know they’ve been low for some time, but no one really knows how long they will stay that way. Experts are predicting that they will continue to remain low for at least the next six months, to as long as 24 months, which is great if you’re in the market for a new home. With this promising to carry into 2010, this is also a very good time to get that refinancing done, if you haven’t done so already, and lock in those great rates!

A Few Not-So-Fantastic Trends

Of course, it’s not always a bed of roses and this year’s expected hurdles are mainly centered on a slow (although definitively steady) pace of improvement, slow job growth, and an inclination toward short sales and foreclosures in the more expensive properties ranging from $1.5 million and up.

The bottom line of what to expect for 2011 is a scene of varying markets; each unique to the next, which is why you will benefit from an individual consultation with your real estate agent – to examine the trends in YOUR area.

Generally, based on 2009 versus 2010, we will see “business as usual” but with the advantage of a relatively flat range of prices and the disadvantage of slower than usual job growth. Holding on to the hope that with small incremental growth and little bits of improvement, we expect another year or two to go by as they have been and then things should eventually start smoothing over and working out.

As the New Year Approaches, We Take a Look Ahead at Expected Trends in Real Estate

There has been a lot of skepticism in the media and market in general about real estate and whether the current recession has hit us so hard that we might take a whole lot longer to recover than we thought. But the truth is that even though there has been a general hesitance for a lot of folks, the actual long term trend has been an upward one. With an increase of sales for the current year, many real estate agents are reporting the same expectation for 2011. A few other trends are also expected in the coming year that will contribute to a continued, albeit gradual, upward trend.

Low-Interest Rate Lock-In

Most people are misinformed about the real estate industry – and in their lack of knowledge will be too quick to just say “the real estate market is at its worst low”. However, when you look at the actual situation, you’ll quickly realize that contrary to that sometimes popular belief, the trends in residential and commercial property sales have been slowly and steadily improving. The great advantage we have going at the time is the fact that the government wants us to get into our own homes, stay in them and maybe even upgrade if it’s the right time for the right family. This means, among other concessions, a continued solid low-interest rate lock-in that will serve you for years, even well after the recession has hit the road.

Smaller, More Serious Buyer Pool

Buyer pools are at a near all-time low, with the situation in the American workplace as it is. Layoffs, downsizing and cost-cutting has changed the mind set of current homeowners once thinking of selling their existing home and upgrading to the next level. So now, when people are putting their homes on the market, especially properties worth $2 million and under, those homes are being picked up like hotcakes in a hot second by the relatively few buyers out there. Making it a somewhat ideal situation for sellers of this group, the current trend is about a 30% increase in sales from the previous year and moving on to the next year the same is expected to continue. While analysts don’t believe it will increase too much more, projected sales definitely mimic this trend.

Predictable Prices Here to Stay

With the economy on a see-saw and some analysts saying we’re in a double-dip recession while other still saying we’re not, one thing is for certain – the prices that we are seeing are here to stay at least for the next 12 to 24 months. That’s not to say that they won’t fluctuate a little, but the general trends have been of stability in prices and we don’t anticipate any major change there for at least a little while. What this means to you is that you can plan reasonably and if buying or selling a home is in your cards, you have the advantage of knowing what to expect. No one in this sort of economy can stand to go into the dark on real estate deals these days and every bit of predictability is paramount.

Things are changing and slowly, but surely, they’re changing for the better! We are shouting out a resounding ‘Hang in there!’ to our clients. Our confidence in the market isn’t going anywhere. Lock in the lowest interest rates we’ve seen in a long time. Seize the opportunity to buy as one of the few that can buy, or sell to those who are holding a pen in hand waiting to sign that check. Know that the future looks up!

By availing the several opportunities that do lie in the current situation, you can come out a winner and own the property of your dreams! Better yet, you can own the property that will allow you and your family to live comfortably, safely and with stability – for a long time to come!