Boost Your Home’s Value With These 4 Steps

There are four steps you can take in order to prepare your home to sell for top dollar.

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Every seller wants to get as much money as possible for their home, but few know how to accomplish this. As it turns out, there are four steps you can take to prepare your home to sell for top dollar. 1. Do the ordinary updates. These updates include replacing rotten wood, taking care of a leaky roof, getting rid of mold, and remediating other water intrusion issues. It’s also a good idea to put a new coat of paint on the walls. Buyers tend to look over houses very carefully, so it’s important to check out every inch of your home and update what you can without breaking the bank. 2. Consider remodeling or updating your kitchen. If it looks dated, repaint the walls, install a new backsplash, and purchase new, energy-efficient appliances. If you’re going to repaint, consider using low VOC paint, as it has fewer harsh chemicals and is more eco-friendly.

A great outdoor space can make or break a sale.

3. Improve your outdoor environment. A great outdoor space can make or break a sale, especially here in the greater Palm Springs area, where we enjoy so many months of incredible weather. Update your landscaping by installing drought-tolerant flowering plants or perhaps an outdoor seating area. For larger projects, you might want to consider creating a covered outdoor entertainment space, or possibly some hardscaping with pavers and a firepit. If your pool needs cleaning or resurfacing, go ahead and do that. Additionally, be sure to take advantage of any views that your property has. 4. Prioritize energy efficiency. More buyers today than ever are looking for energy-efficient installments. To take advantage of this, consider replacing your windows, buying Energy Star appliances, or installing LED canned lighting. These features are not only appealing to prospective buyers, but they can also lower your energy bills while you’re still living in the home. If you have any questions about this or other real estate topics, please feel free to give me a call or send a text or email. I’d be happy to answer them for you.

How to Be a Smart Seller in a Seller's Market

When the market favors sellers, it can be tempting to test your luck with your listing. Today, I’d like to go over what you should do instead.

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When you start the process of selling your home, you have to make a shift in your perception. Think of home selling as a business. When you list your home, imagine you’re selling a product in a much larger market.

You can ignore the market, but to do so would likely lead to a lot of regrets. There are a lot of risks associated with pricing your home incorrectly, one of them being that you could wind up with less money than if you priced your home appropriately to begin with.

When the market is hot, it’s tempting to test it. But, buyers are smart. They have access to a much higher level of data these days. So, as they search for their next home, they make a lot of comparisons between different properties.

Rather than testing the market, it’s important to price your home correctly from the start. Buyers won’t put an offer on an overpriced listing, and there are three reasons why:

1. They don’t want to offend the seller. It goes against human nature to offer significantly less than what is being asked.

2. They believe the seller knows the home is overpriced. This belief may be erroneous, but buyers tend to truly feel that if a seller wanted to strike a deal they would lower the price.

3. They assume the seller has already turned down low offers. They think, surely, someone must have already tested the price. In reality, the listing may not have seen any offers yet at all.

It is entirely possible, in a seller's market, to get multiple offers on your home if you price it correctly, especially if you list it in a range where a lot of buyers can qualify and absorption rates are low

When you list your home, imagine you’re selling a product in a much larger market.

When pricing your home, make sure you listen to your Realtor about the current value of your home. Putting your home at or just below market value provides a compelling reason for buyers to submit offers. However, buyers will only be motivated to make an offer over asking price if they have good reason to do so. One common reason they might do this is if they’re competing with another buyer.

Make sure you carefully review each offer you get once they start coming in. One offer may be a few thousand dollars higher than another, but there are other factors you should consider when deciding between multiple offers. The offer with the highest price may not be the right choice over another offer that is lower but has better terms or comes in cash.  When examining offers, pay attention to any possible contingencies.

Above everything else, make sure you’re letting your Realtor guide you through pricing your home and selecting an offer.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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6 Critical Junctures Where Sellers Can Lose Money

Listing your home on the market can be a tricky process to navigate. There are six key points where sellers most often lose money during the transaction.

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Today I want to share the six most critical times you’re at risk for losing money when selling your home.

1. Not preparing your home to sell. If there are any items in your home that need to be fixed, don’t hesitate in making those repairs. Also remember to clean out and organize closets and storage spaces. Then, consider staging your home to sell. You want to present the best version of your home possible in order to earn top dollar.

You want to present the best version of your home possible in order to earn top dollar.
2. Overpricing your home. The higher you price your home over fair market value, the fewer buyers you’re going to attract. Pricing your home at or just below market value will generate the highest interest. Like most shoppers, buyers are always seeking the best value.
3. During the negotiation of the offer. You want to have an experienced agent by your side to make sure that this part of the process doesn’t cause you to lose any money.
4. During the negotiation of home inspection issues. Like the previous point, an experienced agent will help you determine the best route to pursue.
5. During the appraisal. The right agent will show up, meet the appraiser, and help you defend the price.
6. During the final walk-through. You want to make sure that all of the negotiated home inspection repairs have been completed. Otherwise, the buyer may ask for a credit or to delay the closing.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

6 Types of Disclosures in California

What exactly should you disclose to potential buyers when selling your home? These are disclosures required by state and federal law.

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If you’re selling your home in California, there are certain disclosures that you are required to complete before your sale is final. The purpose of these disclosures is to alert the buyer to any potential issues in the home and generally give them a better picture of how the home has been taken care of. Here are six different disclosures that you may have to complete if you’re thinking of selling your home:

1. Water damage or mold issues. If you’re aware of a leaky roof or dampness in your house, or any evidence of water intrusion, you’ll need to disclose that to the buyer.

2. Lead paint. The federal government requires anyone who has a home built before 1978 to disclose their knowledge of any lead-based paint in the home.

3. Natural hazards. California state law requires sellers to alert buyers of any natural hazard risks in the area such as wildfires, earthquakes, and floods. This is typically done during escrow via a third-party who creates a natural hazard disclosure report.

4. Termite damage. If you’ve had your home treated for termite damage, that needs to be disclosed. During negotiations, a buyer may ask you to provide them with a pest inspection report or wood-destroying organism report. The report identifies active infestations as well as past evidence of an infestation.

5. Repairs and insurance claims. If you have knowledge of any previous repairs or insurance claims from yourself or the previous owners of the home, that needs to be disclosed. I’d disclose these when you list the home.

6. Death. In California, it’s required for you to disclose if you have knowledge of anybody dying in the home within the past three years.

When in doubt, disclose.

We have a saying in real estate: “When in doubt, disclose.” In other words, it’s better to be thorough and alert the buyer to any and all potential issues upfront. Keeping a binder of receipts and documents that show the different upgrades and improvements you’ve made to the home is smart.

If you have any questions for me or you’re interested in buying or selling a home in the Palm Springs Area, don’t hesitate to give me a call or send me an email. I would love to hear from you.

How Reliable Are Online Home Value Estimates?

Online home value estimators can’t always be trusted. There are three reasons you should take their information with a grain of salt.

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Online home value estimates might not be as reliable as you think. There are actually three reasons why you need to be careful when using them to determine value.

First of all, online home value calculators are based on a formula. The algorithms used to create a value for a home are generally based on a specific set of factors such as the square footage and prior sales of similar homes in the neighborhood. While that can be a good starting point, homes are imperfect, and there is no human interaction with the property when the value is being assessed.

Second, online estimates miss the details of your home. As noted, these tools can’t tell how lived in your home is. Online values won’t take into account if a home is covered in 1950s wallpaper or used to be a meth lab. On the flip side, they also don’t take into account any recent renovations or upgrades that may have been done to the home. The list price you would get from an online estimator would not include any value for amenities or the condition of the home.

Finally, the online estimators are only guidelines. These estimates can give consumers false hope sometimes, so you need to keep in mind that you won’t get the true value of your home online. You should use the Internet to do your homework, but don’t get attached to the values or list prices given for your home or estimates for potential homes you may want to buy.

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The best way to find your home’s value
 is to contact a real estate agent.

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If you are thinking about selling your house, you really need to consult a real estate agent. A real estate agent will come to your home and let you know exactly what affects your home’s value. They can also get more reliable comparable sales to ensure the value they give you for your home is as accurate as possible.

If you have any other questions, please feel free to give me a call or send me an email. I look forward to hearing from you!

90 Things You Can't Afford to Neglect When Selling in the Palm Springs Area

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If you're planning to sell your home in the Palm Springs Area, I have a list of 90 things that you can’t afford to neglect in order to sell quickly and for top dollar. We have a full report of the 90 things available for free if you would like a copy. All you have to do is reach out to me by responding to this email!

Here are a few of the major points within this report:

1. Sell quickly so your home doesn't appear to be a stale listing. The longer your home sits on the market, the more people believe that something is wrong with it. Your home has to be immaculate when it hits the market.
2. Repair everything. Buyers gravitate to homes that are well maintained. When they see deferred maintenance items in a home, they become suspicious about what needs to be repaired that they can’t see.
3. Make sure your home is clean and clutter-free. Clean homes always sell. Your home should sparkle during showings, and it should be organized. Have your home “detailed” like you would a car if you were planning to sell it. Clear out or organize your closets. Think of ways to make your home look more spacious by moving furniture around and decluttering. If necessary, rent a storage space to store some things during the marking of your home. Also, creating more light in the home also gives the appearance of more space.
4. Appeal to as many buyers as possible. Unfortunately your specific taste is not as important as trying to appeal to the largest population of buyers. For this reason, we suggest using a neutral color pallet for paint and carpet.

These are only a few of the things in our report. The full report includes information on how to create a good first impression, how to stage your yard or outdoor entertaining areas, and which repairs will benefit you the most when selling. Again, if you are in the market to sell your home, please reach out to us and we will be happy to forward the complete report.

On a side note - I'm participating in “Movember” to raise awareness for Men's health/caner issues by growing some facial hair. I've donated money and have grown a goatee to support the cause. I encourage you to also consider donating to the cancer charity of your choice.