3 Things Sellers will Love This Spring

For many home sellers, there’s no better time to list than the spring, and for good reason: This is peak home-buying season, folks! Buyers turn out in droves once warmer weather finally arrives, bringing people out of hibernation mode, and bidding wars abound as buyers look for ways to one-up their competition.

 

 

All the demand

While home sales decline in the winter (chalk it up to bad weather and holiday obligations), many home buyers blitz the housing market in spring, says Dossman. To meet that pent-up demand, many sellers list their homes at this time of year. It’s no surprise, then, that the lion’s share of real estate agents say March, April, and May are the best months to sell a home. With so many buyers competing for homes, sellers may be in a stronger position to spark bidding wars.

 

Selling in warmer weather

Open houses are often more successful during the spring than in the winter, says Dossman, since the nicer weather makes buyers more willing to emerge from the comfort of their homes to shop for houses. Another boon for home sellers: Daylight saving time gives buyers more time to look at houses, which means your property can potentially be seen by more people, says Dana Hill, vice president of Buyer’s Edge Realty in Bethesda, MD.

That said, “Sellers still need to do some prep work before holding an open house,” Dossman adds. To make sure your home is ready to be seen, do a thorough cleaning, remove such personal belongings as family photos and religious artwork, and trim your lawn for maximum curb appeal. Pro tip: Take a hike for a few hours during the open house. Buyers will feel more comfortable asking questions of your agent if you’re not hovering in the background.

 

The higher valuations

When your home’s value is assessed by a home buyer’s appraiser, the appraiser will look at data for comparable homes (or “comps”) that were recently sold in your neighborhood. The good news: With more homes selling in the on-season, the comparable data tend in your favor, Hill says. In other words, your house is more likely to pass the home appraisal, assuming that you’re selling it at around its fair market value.

 

 

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5 Spring Home-Hunting Tips for Buyers

Spring is just around the corner and not only flowers are popping up everywhere, houses are also being prepared for the spring selling season.  Home owners typically sell during spring, and buyers are taking advantage of this huge opportunity to get the best home. There is competition among buyers who want to get the best pick.  In this adrenaline-driven situation, it pays to follow these 5 house hunting tips so you would will not be left behind.

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1. Canvass your dream house, the old-fashioned way. Close your laptop and go to open houses. Online listings are good sources of information, but nothing beats seeing the house with your own two eyes. It’s a great idea to go online, research the house you want and set up alerts so you know when a new house is being put in the market. However, if you really want to find your perfect house, you have to get up from your desk and get on your feet. The spring season means higher demands for houses, therefore buyers should always be in the position to decide quickly.

2. Research market trends. Housing trends are forever changing. What’s ok now might not be good tomorrow and what seems to worthless today could be worth a fortune in the coming years. As a buyer, you have to be informed of what’s happening in the current market as well as the past trends in the housing industry. This would give you a chance to compare and formulate marketing predictions that would help in your decision making. Take note that these trends have a huge impact on house prices so the more you know, the better chances for you to get a good price. Don’t forget to research both local and general markets.

3. Take advantage of low mortgage rates. Act now while mortgage rates are historically low. Having low interest rates allows you affordable payments for a long time. Mortgage rates are very unpredictable so you have to take action the minute it goes down.

4. Build your team. Everything is fast-paced today with the market on hype due to spring season. As a buyer, you have to make sure that everyone you are working with is ready to go so you’ll have a smooth and fast transaction. Your home buying team should include a knowledgeable real estate agent, lender, lawyer and inspector. To save time, make sure you get pre-approved first so you can quickly submit your bid once you find the right home.

5. Prepare deal-breakers. In a bidding war, you will come across other buyers who are also well prepared. In order to win, you have to sweeten your offer to entice the seller to choose you. How do you do that? You can offer a higher down payment or even forego some contingencies (consult with your team first).

However, the most important advice is BE PREPARED. When that perfect house or opportunity comes up, make sure that you are ready to grab it.

Why You Should Sell Your Home in 2019

Few people are predicting that 2019 will be a record-breaking year for home prices.

Relatively speaking, 2019 might seem to be the best time for you to put your house on the market especially if you’re on the fence about selling this year or next.

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Home price growth slowed in the second half of 2018, with fewer buyers entering the market, at least partially due to rising interest rates issued by the Federal Reserve. In 2019, consumers shouldn’t expect homebuyers to flood the market again and drive prices through the roof, but it’s also unlikely to be a crisis for home sellers.

If you’re weighing your options to sell, considering selling this year or maybe the year after, don’t play the waiting game.
Here are four reasons to sell your house in 2019:
  • New buyers are still entering the market.
  • Interest rates are still on the lower end.
  • You have high equity.
  • Selling now will be better than waiting till 2020.

New Buyers Are Still Entering the Market

With available housing inventory remaining low, even with rising interest rates, buyers who are ready to make a purchase will still shop for homes. The biggest wave of new homebuyers will be among millennials, who are mostly first-time buyers. According to Trulia, more than one-fifth of Americans between ages 18 and 34 said they plan to buy a home within the next 12 months. Already, millennials make up the largest share of homebuyers at 36 percent, according to the National Association of Realtors, which released the number in March 2018.The bottom line: While houses may sit on the market for a few more days on average compared with 2017 when the market was white-hot, buyers remain active and it’s still possible to profit from your home sale.

Interest Rates Are Still Low-ish

Mortgage interest rates have been on a bit of a bumpy road over the last few months. Interest rates for a 30-year, fixed-rate mortgage reached their highest level in over seven years in November 2018, when they hit 4.94 percent, according to Freddie Mac. As of the end of February 2019, however, interest rates are down slightly to 4.35 percent, which is much lower than the historic high of more than 18 percent in 1981.
It’s important to keep in mind that while mortgage rates tend to mirror the Fed’s interest rate activity, mortgage rates are based on the market in that moment, your financial status and the property you’re looking to purchase.
A sudden leap in mortgage interest rates is unlikely in 2019, though rates are predicted to continue to climb.
If you’re looking to get the lowest interest rate possible on your next house, try to make a deal sooner rather than later.

 

You Have High Equity

Homeowners who bought during the recession or shortly after benefited from historically low interest rates and, up until around 2015, lower home prices that were still in recovery mode. If you fall into that category, your home equity has risen with nearly every mortgage payment, each renovation you made to the house and all the other houses on the block that sold for a higher price.
The higher your equity in your home, the more you net from the sale, which can easily go toward the down payment on your next house. The larger your down payment, the better you look to lenders and the lower your interest rate will be, and the less likely you’ll need to increase monthly payments with private mortgage insurance.

Selling in 2019 vs. 2020

If not selling your home in 2019 means putting your house on the market in 2020, the sooner option is the best one. In a survey of 100 U.S. real estate experts and economists by real estate information company Zillow, released in May, almost half expect the next recession to occur in 2020. Another 14 percent believe the recession will hold out until 2021, while 24 percent of panelists expect the recession earlier – sometime in 2019.
Whether you believe the recession is imminent or a long way off, current real estate patterns indicate a sudden upswing in activity or prices is unlikely in the near future. Real estate markets tend to operate on a cycle of their own, the length of which varies by market but can be between 10 and 16 years total and flow from a seller’s market to a buyer’s market with a period of balance in between.

Tips for Finding the Right Seller

Image result for home seller

The best seller is one who is highly motivated. A highly motivated seller is more likely to sell at a price that is less than his or her house is actually worth. And it matters that you find out why. Learning the reason why can help you get the price you want and help the seller get what they want: a timely sale.

When given the opportunity to meet with sellers, ask them why they are selling. The reason could be anything, such as a job change to a new location or financial problems. If you can solve their problem, whether it is cash related or time related, do so. For example, if the sellers are highly motivated because they need to move quickly, give them a fast sale – and a lower price. If you can make an offer, even a low one, that gives them cash in a short time, they are more likely to accept.

There are also some sellers that you should avoid. Not every seller is as genuinely motivated as they make themselves to be. Some possible hints:

Image result for motivated home seller

  • they stall on having the home appraised or inspected
  • they are unable to clear up liens against their property
  • they do not own 100% of their property
  • they push back the move-out date
  • they do not have a replacement property or back up plan
  • etc.

It is impossible to find the perfect seller. But it is possible to find out which sellers are legit and which ones aren’t.

February 2019 Real Estate Market in Review

February San Diego real estate market in review: As of February 2019, the median detached home in San Diego County sold for $649,000 up 5.5% from the previous year.

median detached

As of  February 2019, the median attached home (including condos, townhomes, and twinhomes in San Diego County sold for $420,000, up 3.7% from last year.

Twn median

The average detached home in San Diego spent 34 days on the market.

market time detached

Condos, twinhomes, and townhomes in San Diego spent an average of 29 days on the market.

market time attached

As of February 2019, the average seller of a detached home in San Diego County receives 97.2% of the original list price at the close of the sale.

detached %

As of February 2019, the owners of attached properties (condos, twinhomes, and townhomes) retained 97.9% of the original list price.

% attached

The inventory of homes in San Diego County is still very low.

MOINV Detached

The supply of attached properties is also quite low.

MOINV Attached

Are you interested in seeing this breakdown for your San Diego community or zip-code? Let us know!

Just Sold: February 2019

Thank you for all your support, here are some of the houses Coastal Premier Properties has helped clients buy or sell throughout the county last month. If we can help you or someone you know with making a move, please contact us!

                                                                                                                                                                 

6589 Mesa Norte

(San Diego)

SOLD

*Represented Buyer

Enjoy 270 degree panoramic views, from sunrise to sunset, from this 4 bedroom residence with a detached guest casita. Through a shared, private gate one approaches this newly constructed home featuring a delightful elevation reminiscent of a Napa Valley Farmhouse. With the master bedroom downstairs as well as a secondary bedroom, this 5,025 square foot floorplan offers exceptional flexibility.

Sold for $2,700,000.

                                                                                                                                                                 

4415 New Hampshire Street

(University Heights)

SOLD

*Represented Buyer

Stunning remodel/expanded sought after University Heights 4 bed 3.5 bath on private 1/3 acre canyon cul-de-sac lot w/ bay & ocean views! All the character of a 1940s home with modern updates including high end designer finishes, chef’s kitchen w/ center island, Viking appliances, master retreat w/ separate shower/tub, french oak floors, crown molding, marble baths, entry level ensuite, Ipe deck ideal for entertaining & indoor/outdoor living. Walk to restaurants, shopping & dining! This gem is a must see!

Sold for $1,530,000.

                                                                                                                                                                 

5281 Foxborough Pt

(Carmel Valley)

SOLD

*Represented Both Buyer & Seller

Wonderful southern exposure Saratoga located on cul-de-sac with views & no house behind! Formal entry, separate living with two way gas fireplace, formal dining room w/french doors, sunny eat-in kitchen with granite/Miele refrigerator/new dishwasher, low maintenance landscape with mature trees & wider pie-shaped lot. Bed/bath down plus 3 bedrooms, bonus rm & laundry upstairs. Beautiful views from master retreat with jacuzzi tub, separate shower, 2 sinks, vanity & walk-in. 3 car garage & A/C. Great Schools!

Sold for $1,310,000.

                                                                                                                                                                 

13452 Moonflower Meadow Trail
 

(Carmel Valley)

SOLD

*Represented Seller

Sold for $1,080,000.

                                                                                                                                                                 

12674 Portada Pl

(Carmel Valley)

SOLD

*Represented Both Buyer & Seller

Bayshore STUNNER! Ideally situated on a cul-de-sac in the heart of Carmel Valley, this highly upgraded home offers everything you’ve been looking for and more! Featuring: an open floorplan, masterfully remodeled kitchen and bathrooms, rich hardwood flooring on the main level, new carpet, designer paint throughout, dual pane windows & AC! Enjoy paradise in your backyard retreat with sparkling pool, Jacuzzi, gas firepit & drought tolerant landscaping. No HOA or Mello Roos. Close to highly ranked schools.

Sold for $920,000.

                                                                                                                                                                 
2150 Goya Pl

(San Marcos)

SOLD

*Represented Both Buyer & Seller

Newly renovated home on a corner lot with canyon, sunset, & city light views in the prestigious community of Rancho Dorado. Brand new flooring & paint throughout, this home offers formal living room w/ French doors to courtyard, dining room w/ fireplace, large kitchen w/center island, huge family room w/fireplace, downstairs bed w/private full bath, loft, 3 car garage, master retreat w/ luxurious bath, huge walk-in closet,& balcony boasting breathtaking views. Top Rated Schools!

Sold for $874,000.

                                                                                                                                                                 

2741 Monroe Street

(Carlsbad)

SOLD

*Represented Buyer

Turnkey Multi Generational Home, 5 min. drive to beach & Carlsbad Village. On Monroe & Carlsbad Village Dr, close to the Mall. Main house has 3 bedrooms, 3 bathrooms, office (could be 4th bedroom), formal living room & dining room, large family room, remodeled kitchen, indoor laundry, beautiful redwood deck backs up to the Hosp Grove Park, 2 car garage. Attached apartment has a bedroom, bathroom, living room, dining area, laundry closet and private patio. Best priced home in Carlsbad per square feet!!

Sold for $830,000.

                                                                                                                                                                 

17049 Cloudcroft Drive

(Poway)

SOLD

*Represented Buyer

Lovingly cared for spacious, single level, 5 bdrm home with a large, private yard. Vaulted ceilings, numerous windows and skylights make this home light and bright! Heating and A/C ducting 1 year new. Portion of patio was enclosed and now adds add’l 90 SF. Hunter Douglas wood blinds and dual-pane windows throughout. 3 car garage with amazing storage features, including a stand up attic with pull down ladder. Beautiful & tranquil backyard with garden areas, patio cover, and low maintenance artificial turf.

Sold for $815,000.

                                                                                                                                                                 

4777 Collinos

(Oceanside)

SOLD

*Represented Buyer

Beautiful 2 story home with 2 Master Bedrooms and a loft located in the prestigious Ocean Hills Country Club. Bellagio Model in Move-in condition. Considered the prime entertainment home in O.H.C.C. with several outdoor eating and conversation areas. Check out the ocean views from the deck and 2nd floor Master Bedroom. The elevated home has the benefit of the cool ocean breezes and fabulous sunsets. This home is light, bright and move in ready. The home has had complete interior.

Sold for $675,000.

                                                                                                                                                                 
12516 Caminito Mira Del Mar

(Carmel Valley)

SOLD

*Represented Seller

This is the one you’ve been waiting for!Stunning Townhome w/upgrades galore 2b/2.5b. Walk into the light, bright, open great room with soaring vaulted ceilings, fireplace, beautiful high end wide-plank hardwood floors throughout. Kitchen’s been upgraded with wood cabinets, granite counters and ss appliances. All NEW remodeled baths, NEW dp windows/slider. No building behind, private patio that looks out to mature trees and pool. NEW copper plumbing. NEW tankless water heater, 2car garage, DelMar UnionSD

Sold for $679,900.

                                                                                                                                                                 

3877 Creststone Pl

(Carmel Valley)

SOLD

*Represented Buyer

This charming turn-key home is located on a cul de sac in low-density Pacifica. Has an extra large beautiful back yard/patio. 2 master suites, eat-in breakfast area, and attached 2-car garage. Beautifully maintained home with a new refrigerator, dishwasher, microwave, stove and chandeliers. Tile flooring in the entry and kitchen, laminate wood in the living room, carpet on the stairs and 2nd floor and fresh designer paint throughout. Near shopping, cinemas, restaurants, Torrey Pines HS, ocean, the 5 & 56.
Sold for $685,000.

                                                                                                                                                                 

10867 Serafina Lane 36

(Sabre Springs)

SOLD

*Represented Seller

NEW CARPET!! NEW PAINT!! Beautifully upgraded upstairs 2 bedroom unit in Savannah Terrace. Upgrades include hardwood floors, granite counter tops, brand new stainless steel appliances, new water heater, new custom shutters, custom built entertainment center, designer selected paint, crown moulding and much more! Savannah Terrace has incredible amenities such as a community pool, spa, tennis court, basketball playground, gym, racquetball court and BBQ area for entertaining and relaxing.

Sold for $470,000.

                                                                                                                                                                 

7528 Sturgess Ave

(La Mesa)

SOLD

*Represented Buyer

You’ve found the cutest home available in La Mesa! Original hardwood floors and open living area really set off the light & bright interior. The kitchen was remodeled in 2017 and features beautiful quartz counters and stainless appliances. Remodeled bathroom with dual sinks. Bonus room adds options for additional living area, office, playroom, etc. Dual pane windows, central heat & whole house fan. Great curb appeal and serene & usable backyard for enjoying friends and family.

Sold for $495,000.

                                                                                                                                                                 

1150 Anchorage Ln 124

(Point Loma)

SOLD

*Represented Seller

Gorgeous, remodeled end unit condo in the beautiful community of Le Rondelet. Kitchen is a cook’s dream. Elegant granite counters and gleaming white cabinetry, high end appliances and a warming oven. The shower has the feel of a mini spa. Wood like tiles make the floor easy maintenance. Large patio is terrific for entertaining. Complex features heated pool, spa and fitness center. Located within walking distance to Shelter Island, great restaurants and Kellogg beach. Truly a home to be proud of.

Sold for $422,000.

                                                                                                                                                                 

10855 Serafina Ln #30

(Sabre Springs)

SOLD

*Represented Buyer

Welcome home to resort style living at the amazing complex of Savannah Terrace located in Sabre Springs. Open concept 2 bedroom 2 bath end unit with 1 car garage. Gorgeous condo with bar seating at kitchen that boasts granite countertops and stainless steel appliances open to family room with gas fireplace, private balcony. Move in ready with neutral colors, stacked W/D in unit, A/C, dual paned windows. Freeway access, award winning schools, library, restaurants & shopping nearby.

Sold for $450,000.

                                                                                                                                                                 

1638 Sonata Lane

(San Marcos)

SOLD

*Represented Buyer

Welcome home to this gorgeous single level 2 BR 2BA move-in ready, affordable home! Beautiful Lake San Marcos Resort neighborhood. Complete w/new remodeled kitchen! New cabinets, quartz counter tops, Kohler sink, new flooring, and more! Laminate floors throughout home, large spacious rooms, closets, and storage. Living room and expansive covered private patio w/greenbelt views. Windows in all the rooms for lots of natural sunlight! Private driveway pkg & carport. Separate storage/workshop/laundry room

Sold for $379,500.

                                                                                                                                                              

207 5TH AVE. 933

(Downtown)

SOLD

*Represented Buyer

Own the hottest lifestyle in the Gaslamp! The “Hard Rock Hotel San Diego” This is an incredible opportunity to own a piece of the Rock & collect revenue! A “Hard Rock Studio” that sits above the action in the heart of it all Gaslamp Downtown SD. Great location with amazing views 9th FL with pool & Downtown views, 2 queen beds, rocking away hard rock style on a in room system, all this $299,900 Downtown Gaslamp entertaining lifestyle. Don’t miss out on this Hard Rock Suite that will make you rock & sizzle.

Sold for $283,000.

                                                                                                                                                              

4260 44th 102

(El Cajon)

SOLD

*Represented Seller

3 story complex just off El Cajon Blvd, services – bus, work places. This unit is on the first floor, has small private rear yard area with slider from Master bedroom. New flooring , paint, some fixtures in bath. 55+ age restriction or handicap to purchase or occupy.

Sold for $149,900.

                                                                                                                                                              

January 2019 Real Estate Market in Review

January San Diego real estate market in review: As of January 2019, the median detached home in San Diego County sold for $647,500 up 6.1% from the previous year.

Capture

As of  January 2019, the median attached home (including condos, townhomes, and twinhomes in San Diego County sold for $421,000, up 5.0% from last year.

median twnhm

The average detached home in San Diego spent 34 days on the market.

mkt time detached

Condos, twinhomes, and townhomes in San Diego spent an average of 28 days on the market.

twnhm mkt time

As of January 2019, the average seller of a detached home in San Diego County receives 97.3% of the original list price at the close of the sale.

detached %

As of January 2019, the owners of attached properties (condos, twinhomes, and townhomes) retained 98.0% of the original list price.

attached %

The inventory of homes in San Diego County is still very low.

detached MOINV.PNG

The supply of attached properties is also quite low.

attached MOINV

Are you interested in seeing this breakdown for your San Diego community or zip-code? Let us know!