8 Tips To Ready Your Home For Sale

8 Tips to Ready Your Home for Sale

The following eight tips are intended to provide a starting point for any home seller to get their home ready for the market — and to sell at top dollar. Remember to consult with your realtor for additional suggestions and specifics that apply to your home only.

1. De-clutter & Rearrange

Pack up, sell or give away any items that clutter up the home or condo and arrange the furniture to create flow throughout. This also organizes your home and has the added benefit of helping you get ready to move.

2. Curb Appeal Matters

Clean up the entry and make it inviting. And also clean up the yard and possibly even add some landscaping elements.

3. A Fresh Coat of Paint

A fresh coat of neutral-colored (not white) paint will make your home appear larger, brighter and more appealing to potential buyers. Definitely paint the interior unless it’s exceptionally clean and neutral already. Painting the exterior might be worth considering but there are some caveats here and it may be impractical to do this. In that case start by cleaning up the exterior as much as possible.

4. Other Repairs

Minor repairs if things like leaky faucets and sticky cabinets and doors as well as things that are broken are more important than is apparent. Buyers often believe that there are many more items in disrepair after having seen one or two. So eliminate them. It’s easy and low cost.

5. Clean

Clean homes sell. A home that sparkles attracts many buyers. Old stained carpets, dirty windows have got to go. Also make sure to neutralize any odors.

6. Show off special features

Your home may have a spectacular deck, patio or garden – or it may have solar panels or be LEED-certified. Make sure to show off these features. For instance, consider to accent your deck or patio with some well-selected larger potted plants.

7. Staging & Lighting

A well-lit home invites home buyers. Pay special attention to  natural light coming in and make sure the windows are clean.

For higher end properties, consider staging. Staging works well for all kinds of homes, condos, TICs etc. but it is important to do an analysis to make sure the expense is worth it. Most of the time, staging gets a home into contract faster but does not bring a significantly higher offer.

8. Pricing It Right

It may seem obvious but pricing your home, condo, or TIC correctly is imperative, even in a hot market like San Francisco. Make sure your asking price is in line with the market’s and know which selling strategy to apply. The best way to do both is through a knowledgeable real estate professional, savvy in the local market dynamics. Of course, you’ll also go on-line to get some preliminary information.

Contact us for a more detailed analysis and to discuss your specific circumstance.

 

©SFRE 2017

https://www.facebook.com/richmondistrictliving/

https://www.linkedin.com/profinder/pro/gabrielledahms

www.sanfranciscolifestyles.net

If you are considering selling property in San Francisco, click to get your free preliminary market analysis.

Posted in Uncategorized

Neighborhood Safety

Neighborhood Safety.JPG

Prospective home buyers often ask their realtor about neighborhood safety in the neighborhoods they are considering. Realtors cannot give out such information for a variety of reasons, including the possibility of engaging in steering. That fact begs the question how prospective home buyers can ascertain neighborhood safety.

 

Home sellers have disclosure obligations and those include disclosing criminal activity they are aware of in the neighborhood their property is in. Their real estate agent must ask them about such activity and disclose their answers. However, sellers are sometimes unaware. Neighborhood safety extends beyond the home itself.

 

It is always a good idea for home buyers to conduct some research on neighborhood safety. Note that only the homebuyer can do this. The real estate agent has no obligation to do this for the buyer, nor can the agent provide this information for reasons already mentioned above.

 

Where does the prospective homebuyer start to find the information?
Calling the local police department may be a prudent first step to assess neighborhood safety. Homebuyers can also get neighborhood police reports here. Next, they may want to take a look at the registry for sex offenders and looking at on-line neighborhood reviews. Driving and or walking the neighborhood home buyers are considering is usually also be well worth doing.

 

©SFRE 2017

https://www.facebook.com/richmondistrictliving/

https://www.linkedin.com/profinder/pro/gabrielledahms

www.sanfranciscolifestyles.net

If you are considering selling property in San Francisco, click to get your free preliminary market analysis.

Posted in Uncategorized

7 Downsizing How Tos

7 Down Sizing How Tos

Moving from a large home to a smaller one because of life changes such as divorce, retirement, or a number of other reasons takes forethought. Financial considerations meld with other quality-of-life considerations. Among those might be where to move to next: the city, the suburbs, the country…

And there are logistical considerations as well, like what to keep, give away, or sell and how to coordinate everything.

 

If you are considering selling your current home and downsizing, the following might be some starting points:

 

  • Where would you be most comfortable and what would that look like?
  • What financial implications does downsizing have for you?
  • Say good-bye to the things you never use.
  • Pack one room at a time – start with the study…
  • Consider donating items to charity and have them pick up those items.
  • Organize and consider storage options
  •  … and call on professional help.

 

©SFRE 2017

https://www.facebook.com/richmondistrictliving/

https://www.linkedin.com/profinder/pro/gabrielledahms

www.sanfranciscolifestyles.net

If you are considering selling property in San Francisco, click to get your free preliminary market analysis.

Posted in Uncategorized

How Home Prices, Home Inventory, & Home Sales Are Related

How Home Prices Home Inventory and Home Sales Are Related

The constant interchange between home prices, interest rates, consumer confidence, job growth, employment rates, market place trends, seasonality represent factors affect real estate continuously. Additional factors include prospective home buyers’ savings for a down payment, the presence of real estate speculators and real estate investors in the marketplace, delayed retirement and home owners who have negative equity.

 

Given  this complex interchange, the current real estate market offers a glimpse at how long-term trends, policies, and even strategies play out. In San Francisco, as in many other cities in the United States, housing affordability and transportation availability head the list of hot button issues. These issues have many implications as well as impact on the urban landscape. Some of the more obvious of these are social, economical, environmental and political in nature.

 

Job growth naturally is tied to both housing affordability and transit options. Over a number of years, most certainly since the 1990s, job growth is more and more concentrated in urban environments. Rural areas as well as outlying suburbs generate few jobs and many of the ones they do generate are low wage jobs. This means that opportunities have dwindled in smaller towns and rural communities and the millenials have little choice but to move to the cities. One of the by-products of this trend is intense competition for jobs in those cities, and that trend contributes housing shortage and housing affordability.

 

The demographic shift in United States’ cities creates more unstable environments, bubbles, and social issues like homelessness on scales not seen until now. Increased city populations also strain cities’ infrastructures, all of them but especially the transportation infrastructure. As an example, the San Francisco Bay Area is now one of the most congested traffic areas in the country.

 

The high cost of living, the tech influx, start ups, many which appear to neglect any social responsibility toward their community or workers, the gig economy, the survival mentality that reigns, the quality of life issues and so forth all affect all strata of San Francisco. Long-time residents see their neighborhood and the city change, sometimes for the better, sometimes not.

 

Some of these long-term residents here in San Francisco sell their now immensely appreciated properties if they are homeowners but many of them don’t because they have enjoyed Prop 13 and are in no position to replace their current lifestyle in the open and ‘free’ market. In fact, many of the long-time SF homeowners either operate Airbnb rentals or in-law unit rentals that supplement their income.

 

The long-term residents who are renters either leave San Francisco or those who have rent-controlled apartments hold on to them. But as they are entering retirement, many of the renters of rent-controlled apartments begin to fall into poverty as their income often drops severely.

 

Many of the renters who have moved to the city more recently carry the burden of high rents and often mitigate these high rents by living with a number of roommates. Granted, many of the newer residents are techies with huge salaries, though recent articles in local papers suggest that their huge salaries are not entirely sufficient to life in San Francisco.

 

Renters who are not techies tend to move on to other places more quickly. People earning lower wages often struggle from the start. Yet for every person moving out of the city, there are several more moving in. They continue the cycle.

 

New home building is another big zebra. While the city’s construction is apparent in all neighborhoods, many of the new developments either already built, being built or in the building pipeline comprise luxury units. And those even show up in neighborhoods where one would least expect them, like the Richmond District, Lake Merced, Visitacion Valley, and the Sunset District.

 

New development in San Francisco is expensive and requires experienced parties adept at navigating the city’s rules, regulations, pulse, politics, and permit processes. It only stands to reason that developers seek to maximize their return by leveraging the ‘best and highest use’ formula in real estate.

 

Some neighborhoods, such as Forest Hill, resent new development by perceiving it as detracting from future property values. The best and highest use formula runs into snags and opposition, depending on where it is being applied.

 

Bidding on homes is flaccid, though there are individual homes and sometimes condos which still get bid up. That said, home prices remain high and fall well into a million dollars. Lower priced inventory is scarce, as is inventory between the $1,000,000 to $1,500,000 range. Above that price range wide variety is the order of the day. The short of it is that San Francisco overall is still a seller’s market.

 

Interestingly that is also true for the many new construction luxury condos that came on the market in 2016. New developments continue to come on and one would think that means price concessions or other concessions from the sellers. At times there are some concessions but that entirely depends on the building, what phase the building is in, and a variety of other factors. Sellers tend to stick with original pricing in the new development condo market.

 

Home inventory is a driving factor in home sales, as of course are home prices. Let’s say, a single family home hits the market asking a million dollars, then sells for 5% above asking. This sale informs the market, as do all sales. The seller of say a neighboring home in similar condition expects to see the same (or higher) sold price.

 

Clearly, these factors are interrelated. They have psychological impact as well. However, this article is only touching on some of the surface implications and effects. Please e-mail or call us for a more in-depth analysis, whether you are considering selling or buying a home.

 

 

©SFRE 2017

https://www.facebook.com/richmondistrictliving/

https://www.linkedin.com/profinder/pro/gabrielledahms

www.sanfranciscolifestyles.net

If you are considering selling property in San Francisco, click to get your free preliminary market analysis.

Posted in Uncategorized

Real Estate Investing in San Francisco & the Bay Area

abril12

Many real estate investors in the San Francisco/Bay Area are international buyers from countries such as China, Mexico and Canada. As a city on the Pacific Rim, San Francisco is quite attractive to real estate investors from Asia, in particular from China and India. Compared to Shanghai and Tokyo as well as other major international cities like London, real estate values in San Francisco are perceived as cheap.

 

Most of these investor buyers prefer new construction mid-rises and high-rises in San Francisco and generally 2-bedroom/2 bathroom units. Proximity to public transit, shopping, dining, as well as the waterfront play a big part as well.

 

A number of San Francisco buildings, such as the Lumina, the Arden and the Harrison draw high interest and cash buyers from China. In general, these are high-end, low maintenance properties. While there is some interest by real estate investors in single family homes in San Francisco and the Bay Area, the type of single family home these investors favor are high-end, turn-key homes. –

Foreign real estate investors are also attracted to condos and single family homes in Oakland at this time.

 

For additional information, including trends, neighborhoods, specific communities, specific property types, real estate statistics, and various other topics, please call or e-mail us.

 

©SFRE 2017

https://www.facebook.com/richmondistrictliving/

https://www.linkedin.com/profinder/pro/gabrielledahms

www.sanfranciscolifestyles.net

If you are considering selling property in San Francisco, click to get your free preliminary market analysis.

Posted in Uncategorized

Planned Residential Developments for 2017

2017 Planned Residential Developments

San Francisco’s planned residential development pipeline remains extensive, in spite of rising construction costs. Building construction, mostly for luxury condo buildings, is apparent all over San Francisco. While developers are considering location, they also are seeking the highest return on their money. That, in turn, dictates going into neighborhoods previously not considered. Developments are cropping up in predominantly single-family neighborhoods like the Sunset and the Richmond districts, Hunter’s Point, Visitacion Valley etc.
More residential developments can be expected throughout 2017 and 2018.   Get the latest Planning Department’s Pipeline Report here.

©SFRE 2017

https://www.facebook.com/richmondistrictliving/

https://www.linkedin.com/profinder/pro/gabrielledahms

www.sanfranciscolifestyles.net

If you are considering selling property in San Francisco, click to get your free preliminary market analysis.

Posted in Uncategorized

SF/Bay Area Transit Lines Attract Development

SF Bay Area Transit Lines Attract Development

Space in the San Francisco/Bay Area comes at a premium. That is hardly news. But in the past few years, spurred on by immense growth in population, jobs and traffic, the new trend is that of developing along transit lines. In the main, such development is encouraged along US Hwy 101 from San Francisco all the way into Silicon Valley.

 

Both Caltrain and BART run close to the US 101 corridor and their stations often have public parking lots that could be developed into housing or commercial and office space. Doing so is a controversial undertaking as cities like Millbrae, San Mateo, San Carlos, Daly City and South San Francisco and their long-term residents are sometimes resisting change. The main question here is: should there be high-density development near transit?
For a more in-depth look at what is in store for development along transit lines as well as the challenges that accompany such development, click here.

©SFRE 2017

https://www.facebook.com/richmondistrictliving/

https://www.linkedin.com/profinder/pro/gabrielledahms

www.sanfranciscolifestyles.net

If you are considering selling property in San Francisco, click to get your free preliminary market analysis.

SF Bay Area Transit Lines Attract Development

Posted in Uncategorized