Happy August!
I can not believe summer is coming to an end and the fall market is upon us. Earlier this month I had the honor of talking about the real estate market on KTVU 2 News.
I help my clients earn the highest possible price when they hire me to help them sell their homes, but how is the highest possible price determined?
The reality is that every single property is uniquely its own, from the natural light that flows through the windows to the access to the outdoor spaces, the landscaping to the systems and upgrades. Every property owner has made decisions on the care and maintenance that they have invested into their property, or the lack thereof. During their stewardship, homeowners make decisions such as who performs the work on their properties: licensed contractors, handymen, or does it become a weekend DIY project? Were permits pulled or not, and what type of materials were selected? Keeping this in mind, if you were buying a property, would you spend more for a home with a luxe kitchen - Sub-Zero fridge, custom cabinetry, and French doors opening onto a beautifully landscaped, level backyard? Would you spend more if the roof, foundation and electrical were upgraded? Or how much less would you spend for a home that needs major repairs and updating? If a home has newer high-end windows, versus old aluminum single-pane windows from the 1950's, would that change how you would value a home? In previous markets some of the items above had less of an impact on sales price than they do now.
Market price is what a buyer is willing to pay at a given time, and right now there are buyers out in the market ready to purchase a place to call home. In today's market a home has to make sense to buyers both emotionally and financially. The interest rates and insurance challenges that I have mentioned in previous months’ enewsletter/blog posts have given buyers pause, so every aspect of a property is analyzed before a buyer will make a decision on whether to make an offer and for what price.
Selling houses is a form of match-making: it is absolutely about attraction and connection. A buyer can spot a home that has been meticulously cared for, or one that was a bit neglected (intentionally or not), and a buyer will not pursue a home if they are not attracted to it. So when helping sellers my job is to help them groom their home to be as irresistible as possible within their budget, have a definitive voice, and detailed disclosures with the utmost transparency to give a buyer clarity, which are all needed in our marketplace. If a property is a fixer, let's still showcase it in its best light, share the assets and potential, and price it to attract buyers who are craving a project. Think of real estate websites like online dating apps, presentation and first impressions matter!
Starting mid-August through September, we will likely see a surge in inventory as the fall selling season is historically the second strongest selling season of the year. This week, I am bringing on 1225 Ward Street in Berkeley, a home that I had the privilege of helping my clients purchase, witness their transformation of the home and help prepare it for the market. This property feels really good with an enormous amount of natural light, an open kitchen, living and dining rooms. What makes this property extra special is that the owners gutted the house to the studs – it has new electrical and plumbing and approximately half the foundation was replaced! I will be hosting a Saturday open from 2-4 pm and Nicole will be hosting a Sunday open from 2-4 pm.
1225 Ward Street, Berkeley
If you are thinking about selling your property and do not know where to start, don't worry, I have helped hundreds of clients prepare and sell their homes, ranging from the most pristine properties to uninhabitable fixers. I will always lead from the heart with honesty, integrity and the best marketing. I hope you enjoy the last weeks of summer, eat some delicious corn, stone fruit and tomatoes and as always, I am an email or phone call away and no question is too small.
