Everybody is well aware of the incredible run that the Orange County housing market has enjoyed for nearly five years now. We must remember that these increases didn’t happen overnight. It took FIVE years. The average OC selling price reached $804,625 at the end of October this year, compared with $756,332 in 2015, $741,517 in 2014 and $696,708 in 2013. That’s a steady 5% gain each year.
Still, sellers are inclined to get carried away with pricing. This dilemma occurs in every single price range, even in the hottest range – homes priced below $750,000. Just because a price point is “hot” does not mean that buyers will pay thousands more than the most recent closed sale. On the contrary, they are very price sensitive and are inclined to pay at, or extremely close to, Fair Market Value. Even when competing for a home they love, they won’t overbid. They’ll walk away first.
Sellers should remember these important tips if they want to sell first and for highest optimal price:
- Their home is decluttered and spotlessly clean – this includes inside drawers and closets.
- Furniture and accessories are not distracting buyers from seeing the home and its layout. Staging is very often a good idea to maximize a home’s features.
- The front yard and entry is clean, tidy and inviting. A rusty doorbell and weathered front door can make a negative impact, coloring buyers perception of the entire house.
- Remain mindful that pets, athletic equipment, certain foods and other potentially smelly things can leave a bad impression. What Buyers smell is as impactful as what they see. You don’t have to bake cookies before each showing, yet the home needs to smell fresh and clean.
- Most importantly, make the home easy to show with as little notice as possible. Buyers are busy people too. If a competing seller let’s them in before you do, that seller may get an offer from someone who would have preferred your home had they been able to see it.
If your home shows well and is priced right, you should have no trouble finding a buyer. This is the second most popular time of year to sell a home; take advantage of it. Buyers want to move in summer and over the holidays, when they have vacation time.
If you’re not sure what you need to do next before selling your home, give me a call. I’ll come take a look. We’ll figure out your marketing plan and target price together.