Our team actually has some listings that haven’t even hit the MLS yet that I wanted to share with you. These three listings are getting ready to go live on the market in the first week of June.
The first is a gigantic corner lot property in Lemon Grove on Darryl Street with a huge backyard, a detached 2-car garage, and it’s actually zoned for two structures. This home is fully remodeled and will go for between $450,000 and $475,000.
The second listing is a fully remodeled 3-bedroom, 2-bathroom house in the Clairemont Mesa Area. It’s about 1,300 square feet and is located in a cul-de-sac of Clairemont Mesa. It will be listed in the $625,000 to $645,000 range.
These listings will hit the market the first week of June.
Finally, the last property is a 4-bedroom, 2.5-bathroom home with just over 2,000 square feet in Mira Mesa on a cul-de-sac. The owners have invested almost $50,000 on backyard landscaping! This one will be listed in the $725,000 to $745,000 range.
If you or anyone you know is interested in any of these properties or has any questions about them, don’t hesitate to send me an email or give me a call. I’d love to help you out!
Is it wise to hire a discount agent when buying or selling a home? I can understand wanting to save money to perhaps give yourself a leg-up, but you should think carefully before doing so.
San Diego is a tough market for buyers right now, which means there is a lot of competition and many multiple offer situations happening. If you’re a buyer and you choose a discount agent to represent you, that agent generally won’t have the necessary relationships with other agents and the necessary resources or team in place to support the things you need to be successful.
An agent who discounts themselves is already more or less telling you what they’re worth. They can’t negotiate on their own commission to hold themselves accountable to normal standards. If they can’t negotiate on their own commissions, how well will they negotiate on your behalf?
When sellers look at multiple offers and they see a discount brokerage among them, whatever offer that discount brokerage brings to the table won’t be taken as seriously as other offers that are similar or better. This is because if all offers are the same, the determining factor is the likelihood that offer from the discount brokerage will close. As a buyer, you might not take that kind of thing into consideration, but the seller’s listing agent will. They’re looking at your lender, your agent, and whether you have the capability to close.
If you’re a seller, hiring a discount agent comes with its share of drawbacks as well. For one thing, when they list your property, putting in on the MLS is generally all they’ll do. Because it’s a seller’s market, you’ll still receive a few offers. However, if they’re not marketing the property, they’re not creating as many offers as they could. You also run the risk of not selecting the right offer to close, along with many other things.
If a discount agent can’t negotiate on their own commissions, how will they negotiate for you?
I understand that hiring a discount agent is the easiest way to get a little bit of money back, but what you save pales in comparison to what you might lose. If you’re a seller, you might save $4,000 on a 1% commissions discount for a $400,000 house, but you’ll lose $10,000 because that agent couldn’t negotiate a better price for you. If you’re a buyer, what’s that discount really worth if your agent is getting shut down every single time? You might get the kickback, but you’re not getting the home.
I’m in the business, so I speak from experience when I tell you this. If you talk to any other real estate team that does a significant amount of business, they’ll tell you the same thing. A discount agent might be able to get you the home you want, but very rarely does that actually happen. As a consumer, I want you to understand what you’re really getting for that discount.
If you have any questions about this topic or anything else in the real estate world, don’t hesitate to reach out to me. I’d be happy to assist you.
The market in San Diego right now is absolutely insane. Sellers are experiencing multiple offers, waived appraisals, and more.
In fact, we just had a client who bought a property five months ago for $280,000, but then immediately got a job transfer and sold it. We listed the home right away, and ended up selling it for $310,000. We didn’t think the appraisal would come back good, but to our surprise it did. This buyer turned seller got $30,000 in appreciation in just five months. Isn’t that amazing?
If you’re a seller in this market, I can’t stress enough that this won’t last forever. There will be a correction in the market at some point. We don’t expect the market to tank, but there will be some changes. The next year or two is the optimal time for selling. If you’ve been thinking about it, I suggest you start taking more concrete steps now.
Signing a lease could be a big mistake.
A lot of buyers out there think there is just too much competition out there for them to compete with. I couldn’t begin to tell you how dead wrong that approach is. If you’ve been thinking of buying for the last few years and keep telling yourself you should have bought last year, you are in that situation once again. Signing a lease for the next six months could be the biggest mistake of your life. Stay strong, be resilient, and ensure you get the home of your dreams. There’s a very high likelihood that you’ll get significant equity over the next year.
I just wanted to make sure you understood what exactly is happening in the market right now. Your window is narrowing by the day so if you have any questions about buying or selling, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
If you’re thinking about buying a newly built home in 2017, I’ve got some great tips to buy home to share with you that will help make sure you are making a sound investment and not being taken advantage of.
The first tip is the most important, and that’s to get your own agent as representation. You wouldn’t walk into a car dealership and ask for the sticker price, right? It’s the same type of scenario. The agent you meet at the home works for the builder and is looking out for their best interest.
You need a professional on your side who will do the same. They will be able to read through the fine print of the contract, alert you to any potential mishaps, and make sure you get a great deal.
Research the builder and their subcontractors.
The next tip I have is to compare lenders. The builder and their agent will try to get you to work with their lender by offering you money off the purchase price or toward closing costs, but they don’t tell you about the hidden fees they’ll hit you with and the true cost of the loan. This is another thing a professional can help you with. They have done the homework and will be able to tell whether you are getting a good deal or not.
Finally, research the builder. Research their subcontractors if they have any, too. See what people have to say about their homes online, whether it’s good or bad. This is just another way to inform yourself so you’ll be protected when making such a large investment.
If you have any questions for us at all, don’t hesitate to give us a call or send us an email. We would love to hear from you. These are the 3 three tips to buy home for new home buyers in 2017.
Prices for homes have increased dramatically; 6.7% year over year, in fact. The year over year inventory levels of available homes is also 22.7% from this time last year, which has contributed to increasing prices. What’s going on in the San Diego market?
We’re also seeing a lot of multiple offer situations for homes. In fact, we recently saw a home receive 12 offers in a couple days. This trend could continue with inventory remaining low.
We’ve definitely seen adjustments in the way people make offers on a home.
Even when appraisers come in and knock down the agreed upon price, we’re still seeing buyers come up with the different in cash to move forward on a deal. They don’t want to have to go back to the market and compete again, and this is also driving prices up. When someone pays in cash above the appraisal price, it counts as a comparable sale in the area, causing prices to increase in the neighborhood.
If you’re selling your home in this market, it’s a home run. If you’re looking to sell your house later this year, look to spring and summer when you’ll have the most activity. You have a huge opportunity to receive multiple offers and sell above your list price. The important thing to keep in mind is to hire the right real estate agent. It could be the difference in how many offers you receive and finding the perfect buyer.
If you have any other questions about the San Diego market or you’re thinking of buying or selling a home, give me a call or send me an email. I look forward to talking to you soon!