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Housing Supply Overview

The housing and stock markets continue to be the leaders in the economy. In August, showings and pending sales remained at strong levels. Housing inventory remained + 27.9% + 4.5% limited in many segments, continuing the competitive bidding we have seen across much of the market in recent months. Nationally, the Commerce Department and U.S. Housing and Urban Development report total housing production is up 22.6% to a
seasonally adjusted annual rate of nearly 1.5 million units, the highest rate since February. According to the National Association of Home Builders estimates, lumber prices have surged more than 110% since mid-April, adding approximately $14,000 to the typical new single-family homes. For the 12-month period spanning September 2019 through August 2020, Pending Sales in the San Diego were up 2.0 percent overall. The price range with the largest gain in sales was the $1,250,001 to $2,000,000
range, where they increased 27.9 percent.

The overall Median Sales Price was up 5.7 percent to $608,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 5.8 percent to $682,500. The price range that tended to sell the quickest was the $500,001 to $750,000 range at 25 days; the price range that tended to sell the slowest was the $5,000,001 and Above range at 103 days.


Market-wide, inventory levels were down 44.8 percent. The property type with the smallest decline was the Condos – Townhomes segment, where they decreased 30.2 percent. That amounts to 1.3 months supply for Single-Family homes and 1.7 month supply for Condos.

If you would like to sell your house in San Diego, contact local San Diego Real Estate Agent.

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Tips for Selling Your San Diego Home

If you are planning to sell your San Diego Home this year, it is key to have a strong understanding of this year’s basic market trends to make sure you can sell quickly and get the best possible price. 

“Election years mean uncertainty to a housing market,” San Diego Real Estate Agent Mark Kunce told us. “If you are concerned that the election could potentially throw a wrench in the market, [spring and early summer] will be early enough in the year to get the house sold before wild speculation starts breeding fear in home buyers.” 

No matter when you decide to sell your home, you have to make both its interior and exterior look appealing to the greatest number of people. You do this through a process called staging, which involves making any necessary home improvements, whether for looks, safety or efficiency before buyers come to view your home. 

Unlike San Diego Home buyers, who want to minimize competition, sellers benefit from demand. Prime home-buying season begins in April and reaches its peak in June, according to realtor.com analysis of home sales. Sellers who list their home during the prime spring and summer months benefit from a larger population of buyers and potential bidding wars, which often result in higher prices and faster closings.

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San Diego Home Selling Tips and Advice

To sell your San Diego home fast, you have to take an active role in the process. Don’t sit back and wait for the buyer who can see past potential flaws. Do your homework, make fixes, and go out of your way to show just how great your property is. Here are 5 tips to guide you through the process.

  1. Remove clutter: There is a beautiful world of freedom and fresh breath hiding behind that clutter. Deciding how to declutter your home is up to you.
  2. Light it up: Open all the curtains and blinds, turn on all the lights and look at each space through the eyes of a buyer.
  3. Hire local real estate agent: Like any employer who interviews potential candidates for positions within their company, a seller should interview local real estate agent(s). Don’t hire a Los Angeles agent when you are looking for Palm Springs Real Estate Agent. Don’t hire a Riverside Real Estate Agent when you are looking for San Diego Real Estate Agent.
  4. Stage the home: When you’re selling your home, you want it to look its absolute best for the potential buyers who walk through the door. 
  5. Hire professional photographer: Amazing real estate photos actually do have a major effect on your home sale, so don’t you think that blurry iPhone photos will cut it.
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Lighting Tips to Help Sell Your San Diego Home

SELLING A HOME

Lighting Tips to Help Sell Your Home

March 22, 2019

Unique light fixture

You’ve found the right real estate agent.
You’ve repaired or replaced everything that needed fixing.
You’ve covered the three D’s of home staging—Decluttering, Depersonalization and Deep cleaning.

Finally, it’s time to put your home on the market. But, wait! There’s one often-overlooked detail that could sabotage all your hard work: the lighting.

In the game of First Impressions, a poorly lit home is at an automatic disadvantage. Darkness can make a home feel small, uninviting and dirty, even when it isn’t. Worse, a potential buyer may wonder what flaws are lurking in the shadows.

Now, lighting design is a topic that could fill its own blog, but here are some basic tips to help you make a bright, energizing impression at your next home showing.

Do a room-by-room light audit.

Open all the curtains and blinds, turn on all the lights and look at each space through the eyes of a buyer. Use your camera if it helps you make note of any areas that need help. Keep in mind that showings may happen at different times of day, so it’s good to repeat the exercise in the evening, when there’s less natural light.

Address non-lighting light problems.

Sometimes “lighting problems” are actually décor problems. Dark furnishings, wall colors, flooring and even ceiling colors can make a room seem dark no matter how much light you pour into them. If you don’t have the time/budget/desire to paint or replace these things, here are some lower-commitment options:

  • Use light colored bedding, throws, slip covers, drapes, area rugs and other room-appropriate accessories to brighten the space.
  • Mirrors can reflect available light and make a room feel larger and more open. Try adding them to rooms with inadequate windows.
  • Add light sources that can wash across dark walls. The diffused light can add to the ambient illumination and give the eye a little help when assessing the room’s true dimensions.
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Opendoor and Redfin temporarily pulls plug on iBuyer program

Opendoor temporarily pulls plug on iBuyer program.

The spokesperson said the company has been closely monitoring the escalation of COVID-19 over the last few weeks and is mindful of the impact the crisis has had on the communities in which the company operates. Ultimately, the spokesperson said, the priority for Opendoor is the safety and well-being of its customers, employees and the general public.

Redfin pulls plug on iBuyer program. RedfinNow, which generated 40% of the brokerage’s Q4 revenue, was suspended amid coronavirus crisis.

“On March 18, 2020, we announced that RedfinNow, our business that buys homes directly from homeowners and resells them to homebuyers, will temporarily pause making offers on homes,” the company disclosed Wednesday in a filing with the Securities and Exchange Commission.

In a statement, Redfin CEO Glenn Kelman said that the decision was made in response to the ambiguous nature of the housing business right now.

The decision comes at a time when the platform was rapidly scaling. It was live in 13 markets and saw a 407 percent increase in the number of homes sold in 2019, over 2018.

Zillow and Offerpad, were still buying homes as of Wednesday. Selling a house in San Diego to an iBuyer means homeowners can forego the uncertainties of listing a property and never have to worry about prepping for an open house.

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Relocating to Palm Springs

Relocating

Moving has its pros and cons. It is a very stressful process to sell a house you have been calling for years, move to another place, and make new adjustments.

Relocating to Palm Springs and buying a home in Palm Springs gives you a fresh start and start from scratch. You will be meeting new people, have a new environment, and widen your social network. It will also give you to focus on your family as you need to rely on each other as you adjust to your new surroundings. There are also some tax advantages when you sell a property and buy a new home depending on your location.

The market today though does not give you a lot of options. The transaction costs are very high whether you are selling or buying a home. Of course, there is the constact factor of logistical hassles when relocating.

Be sure to hire local Palm Springs Real Estate Agents.

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Tips when buying a luxury home

When your bank account is eager to get its hand on a historic estate, a home next to a golf course, a lake house property, or other luxury home options that you have. Read on since the following tips might help you getting your dream luxury property:

Tap a local expert

You want to work with a local buyer agent who knows the ins and outs of the area. These real estate agents may have access or contacts with luxury home owners or brokers since open houses are a fewer with luxury homes.

Unlisted luxury properties

In order to protect the privacy of their homeowners, luxury properties are often unlisted. You might only be able to checkout these properties through connections of certain realtors. You will also not be able to see them on large real estate websites so digging for info online will not be as easy.

Using your bank connections

If you are planning to purchase a luxury home, your best choice is to work with a bank which has your portfolio for some time now. You also need to know the big difference between pre-qualification notices and pre-approvals.

Look beyond the photos

Do not be satisfied with the nice photos your agent will show you. Ask that you need to see the property personally. It might also help to check the surroundings via Google earth.

Document everything

Make sure that you have a complete financial documentation. If the work is too difficult for you, hire an accountant or a lawyer to make sure everything is on black and white.

Look ahead

Make sure you know what development plans are to pop around the area. You might not enjoy the seclusion you want if a resort is soon to come nearby. Also know the timelines like if there will be construction delays so you can plan out the finances well.

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What not to do when house hunting

Here are some practical real estate tips when you are searching for that new home:

Don’t go by yourself and let your realtor do the work

It is not a safe thing to do to pick your phone up, contact the seller, and visiting the property by yourself. You might just end up looking at several properties that do not really fit your finances. If you go alone, the seller will have an impression that he has the bargaining power since you do not have a professional to help you out. Let your realtor research the property you want to check into.

Do not rush

Take your time when checking out houses. You can linger when you think you like the place and know all the details that you want to know about the property.

Use one car when doing a property tour

Meet up with your realtor and use one car when visiting target properties. This way no one will be lost, you can have enough time to go around the houses, and you will be able to give feedback to your realtor so the search can be trimmed down on your ideal home.

Say anything to your realtor

Your real estate agent will be showing you different houses and not his or her own house. If you like a certain property then that is great but if you do not like some houses then you can tell them straight. Do not be afraid to voice out since you will not offend them at all. You need to tell them any concern that you have in mind and this way you will have a better communication with your realtor.

No trash talking

Hold your trash talk when doing a tour around a property. The seller might say they will step out so you can discuss things with your realtor but in fact most of the time, the seller is just nearby to listen to the things you say. Bad mouthing might have you on an uphill battle in case there are multiple offers for the house that you like.

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Tips and Tricks To Overcome Cold Calling Fear!

One of the hardest things I think for a real estate agent to do is go through cold calling.  Cold calling a client or a bunch of clients is definitely not easy but it is something that everyone in the sales market or in a sales job has to do.  It might be uncomfortable but that is what we are here for – to make sure that you are comfortable in cold calling.

Firstly, you want to make sure that the daily goals that you set for yourself are something that you can actually meet or exceed, as that alone can make unwanted and needed stress regarding cold calling.  Start small and grow as you gain more experience and get better at cold calling.

Next, list some benefits that your clients will get when they work with you – also make sure to go into detail about your skill set, as that is something that will help you in the long run.

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