selling a home Archives

Home Not Selling in San Diego? It Could Be Overpriced

Is your house lingering on the market longer than expected? In the current real estate climate, this situation is quite out of the ordinary. In San Diego, the real estate market is experiencing a significant imbalance – the number of homes available or technically the inventory of houses in the market is much lower than what we typically see in a regular year. This scarcity creates a unique environment and scenario where buyers have fewer choices, making your property a potentially sought-after gem in a sparse landscape of options. However, if your home is not selling amidst this limited inventory we are currently facing, maybe it’s about time to delve into the potential causes and do a little bit of root cause analysis. One critical factor that might be deterring potential buyers could be the price tag attached to your home.

In today’s market, where mortgage rates are noticeably higher, buyers are more budget-conscious than ever. This heightened sensitivity to price means that your asking price could be a major hurdle. According to a recent piece in the Wall Street Journal (WSJ), the current financial pressures are leading buyers to think twice before stretching their budgets. This trend underlines the importance of setting a realistic and attractive price for your home – it’s not just about the value you perceive, but also about meeting the market where it stands.

“If you are serious about selling your home now, don’t get greedy with the asking price. This is still a seller’s home market as there simply aren’t enough affordable homes for sale in many parts of the country. But with average 30-year mortgage rates above 6%, buyers are much more price-sensitive than they were a year ago.”

Girl Scrolling through Laptop while drinking Coffee

Understanding the Importance of Accurate Pricing in Real Estate

The key to a successful home sale in San Diego hinges on setting the right price from the start. It’s a delicate balance between maximizing your investment returns and aligning with the realities of the current market. The truth is, the value of your house ultimately comes down to what buyers are willing to pay at this moment.

Coming to terms with this can be challenging, particularly when emotions are intertwined with the selling process. It’s understandable, considering the years of memories and personal attachment you have with your home. This emotional connection can sometimes cloud your judgment, making it difficult to view the situation from an objective standpoint and like a double-edged sword make you overprice the value of your home.

However, it’s crucial to recognize that an inflated asking price often acts as a deterrent for potential buyers. They might overlook your property without even considering a visit if the price seems unreasonably high compared to the average houses in the market depending on your area. Without buyer interest, selling your home becomes an uphill battle.

To reignite interest and move towards a successful sale, reevaluating your home’s market value is essential. This is where the expertise of a local real estate professional becomes invaluable. With their in-depth understanding of San Diego’s real estate market, they analyze various factors. These include the prevailing market trends, the demand among buyers, the condition of your property, and the prices of similar homes in your neighborhood. By considering all these aspects, they can help you find that sweet spot — a price that reflects your home’s true value and appeals to potential buyers. This approach not only helps in selling your home promptly but also paves the way for you to embark on your next adventure with confidence.

Final Thoughts

Indeed, we can all agree that the current market has fewer homes available right now, but the price of your home still remains a crucial factor to consider at the end of the day. If your home is still lingering on the market longer than you might have been expecting, it might be an indicator that it’s priced above what buyers are willing to pay or even above market value. Setting the right price is essential in capturing the interest of potential buyers and ensuring a timely sale. Remember, a well-priced home is more likely to attract attention and offers, even in a market with limited inventory.

Turning Homeownership Profitable in San Diego

Why Selling Your Home Solo in San Diego Could Cost You

Are you thinking about selling your house as a For Sale by Owner (FSBO) or technically selling your home solo? If so, know there’s a whole lot more time and expertise needed in that process than you might think. While the idea of doing it all by yourself might seem tempting, it’s important to recognize the challenges you may face if you take it on all by yourself. As a recent article from Bankrate explains:

“Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have to do yourself.”

Let’s dive into some of the overlooked aspects you might miss if you give it a go alone without the expert guidance of a real estate agent.

Selling Your Home Yourself Means Nailing the Right Price Tag

It’s Not as Easy as You Think! Nailing the perfect price for your home is like hitting a moving target. It’s not just about what you think it’s worth; it’s also about what the market will bear. Trust us when we say this: in a market as dynamic as San Diego’s, this is where experienced realtors really earn their stripes. They’ve got the know-how to set that golden price that’ll get your home off the market pronto.

But let’s say you go do it alone and try to sell your home solo—no agent, no advice. Well, chances are, you’re either going to aim too high or too low. Overpricing can leave your house lingering on the market, making buyers wonder what’s wrong with it. On the flip side, undervaluing could mean leaving a chunk of change on the table that rightfully belongs in your pocket.

Don’t just take it from us; Nerd Wallet chimes in with their two cents:

“If your home is overpriced, you run the risk of buyers not seeing the listing. . . . But price your house too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the house.”

Don’t gamble with your home’s first impression. Team up with a real estate pro who knows the San Diego market inside and out. They’ll make sure your place is priced just right, grabbing the attention of buyers who are ready to make a move. That way, your home won’t just be another listing—it’ll be the one people can’t stop talking about.

Let’s Be Real: You’re Probably Not a Pro at Marketing Homes

Look, we get it. We’re living in a world where everyone’s glued to their screens, scrolling through listings and imagining their dream homes. Even the National Association of Realtors is hopping on the digital bandwagon, showing just how big a role online marketing plays in today’s home sales.

“Among all generations of home buyers, the first step taken in the home search process was to look online for properties.”

Team up with a savvy Realtor who’s a whiz at online marketing, and you’ll have a front-row seat in the digital arena where modern homebuyers are shopping. You’ll not only get more eyeballs on your listing but also stand a better chance at closing a deal. On the flip side, if you’re flying solo trying to sell your home, you could be leaving some serious digital firepower on the table—missing out on social media buzz and the full spectrum of online marketing mojo.

You Might Find the Endless Negotiations Overwhelming

So, you’re thinking about selling your home yourself—exciting, right? But let’s keep it real. Selling a house isn’t just about sticking a “For Sale” sign in the yard and waiting for the offers to roll in. Oh no, my friend, you’re about to enter the intricate dance of real estate negotiations.

Imagine juggling conversations with potential buyers, their agents, home inspectors, and appraisers—all while trying to get the best price for your place. It’s a bit like hosting a dinner party where you’re not only the chef but also the waiter, the bartender, and the dishwasher. Miss a step, and the whole evening could go south.

That’s where a seasoned real estate pro comes into play. We’ve got the experience to keep this complex jig running smoothly so you can get to closing without breaking a sweat. Trust me, it makes a world of difference when you have someone in your corner who knows the ropes.

“Your listing agent will also, of course, be on your side throughout negotiations. They’ll double-check paperwork that comes through, communicate with the buyer’s agent and other parties to the sale, and generally stay on top of things through to closing day.”

The Final Word of Selling Your Home Solo

So, you’re toying with the idea of selling your home by yourself, huh? We get it; you might want to save on commission fees or think you’ve got it all figured out. But trust us when we say this: there’s a whole lot more to it than sticking a ‘For Sale’ sign in your yard. Don’t underestimate the value of having a seasoned pro handle the nitty-gritty for you. Why not give the McT Real Estate Group a shot? We’re all about making this process as painless as possible, letting you focus on your next big move.

Debunking Crash Myths in 2023: The Current Housing Inventory

Essential Skills Every San Diego Listing Agent Must Possess

Deciding to sell your home is no small feat—it’s a thrilling feeling, but let’s be totally real for a second: it can also have your stomach doing back flips over and over again. The golden ticket and magic pill, you might ask? Well, partnering with the right listing agent who’s got your back from start to finish and possesses the proper set of skills for the job. When we talk about a listing agent (sometimes you’ll also hear folks call them a seller’s agent), we mean the superhero who markets and champions the sale of your home, standing by your side throughout the entire real estate journey.

So, you might be wondering, how can you be so sure you’ve teamed up with the right person for the job? Here are our three non-negotiable skills your listing agent should absolutely rock and what you should look for.

Your Listing Agent Should be Utilizing the most current market data; together, with their guidance you’ll determine the optimal price for your home.

While it may be tempting to pick the agent who suggests the highest asking price for your house, that kind of strategy may honestly cost you. It’s easy to get caught up in the excitement when you see a bigger number and those dollar signs beside it, but overpricing your house can have consequences you might not have even anticipated. It could mean it’ll sit on the market longer or, worst comes to worst, it might not even sell just because the higher price is actually deterring potential buyers as per comparison with other properties around.

Listing Agent Qualities - Your Listing Agent Should be Utilizing the most current market data, they determine the optimal price for your home — Listing Agent Qualities – Your Listing Agent Should be Utilizing the most current market data so you all can determine the optimal price for your home.

Instead, you would want to pick an agent who’s going to have an open conversation with you about how they think you should price your house and why. A great listing agent will base their pricing strategy on research solid real estate data. They won’t throw out a random number just to win your listing. Instead, usually, they’ll show you the facts, explain the reasoning for their pricing strategy, and make sure you’re on the same page. As NerdWallet explains:

“An agent who recommends the highest price isn’t always the best choice. Choose an agent who backs up the recommendation with market knowledge.”

Having superior negotiation skills is paramount.

Selling your house can stir up a whirlwind of emotions, especially when it’s a place you’ve once called your cherished home and made countless memories in. It’s totally understandable. This emotional connection can sometimes cloud our judgment during the negotiation phase. This is exactly why having a reliable expert by your side is invaluable.

A seasoned and tenured listing agent remains unflappable even in the most intense negotiations. They serve as your advocate, navigating those tough conversations for you. With them at the helm, you can rest assured, knowing that someone passionately represents your best interests every step of the way.

A proficient problem solver is what they are

At the core of the real estate journey, the primary mission of a listing agent is to ensure your home finds its next owner with ease. A top-notch agent remains steadfastly focused on this objective, always putting your needs front and center. Should they spot any crucial actions you should undertake, they won’t hesitate to let you know and share their insights. Their unwavering dedication to your triumph ensures they stand by your side, navigating challenges and brainstorming inventive solutions to any surprises that might emerge.

As described by BankRate, the concept is laid out as follows:

“Just as important as the knowledge and experience agents bring is their ability to guide you smoothly through the process. Above all, go with an agent you trust and will feel comfortable with. . .”

In Conclusion

Whether it’s your debut sale or you’re revisiting the familiar journey of selling a home, the right listing agent makes all the difference. Reach out to the McT Real Estate Group Team, and let’s team up so you have a seasoned San Diego pro with all the right characteristics guiding you at each turn.

Is the Housing Market Seeing an Increase in Listings?

Housing Market Insights: Why Today’s Inventory is Cut in Half

Have you found yourself pondering the age-old question: ‘Is now the right moment to sell my home?‘ You’re not alone in this thought! The straightforward response? It’s a resounding ‘Yes!’ With the current shortage in home listings, the market is hot and ready. Not only is it a prime time to consider selling, but doing so might also give you an edge and potentially get you a better deal than you’d expect.

You’ve probably overheard or picked up on the chatter about the slim pickings in property listings lately, especially when compared to the real estate landscape of the past few years. And while that might sound a touch concerning at first, there’s a silver lining for folks like you eyeing the seller’s market. Not fully getting the buzz? Don’t sweat it. To truly grasp the magnitude of this shift and see why this could be your golden ticket in selling, take a gander at this insightful graph from Calculated Risk right below.

Inventory is Still Historically Low

Spot that slight rise in the blue bar? Yep, that’s our housing listings nudging up by a modest 0.7% from a couple of weeks ago. Not a huge jump, but something! However, those bold red bars? They’re sounding the alarm. They make it clear that we’re working with a thin spread in our housing supply. To put things in perspective, we’re trailing by roughly 10% compared to this same week the previous year. And let me paint a picture for you: the shelves were already looking pretty bare in the housing market inventory even then. It’s like going to your favorite bakery and realizing the shelves are running out of your go-to treats. Fingers crossed we see some more blue upticks soon!

Want an absolute blast from the past and a quick throwback? Let’s rewind to 2019, shall we? Last year, things felt… well, normal in the housing market. Compare this week to the same one in 2019, and guess what? We’ve got about half the number of houses up for grabs now or currently for sale.

Bottom line, and what we’re trying to say? Our housing market’s still tipped in the sellers’ favor at the end of the day. Houses or real estate are hot commodities because there just aren’t enough to meet the demand. Like what we learned back then in our economics classes, always remember the rule of supply and demand.

And don’t just take it from us. Lawrence Yun, the head honcho economist at the National Association of Realtors (NAR), would tell you the same.

“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”

So, have you been mulling over the idea of selling your home? Let us give you the inside track: the current market is nothing short of unusual. Inventory is squeezed to about half of what we’re used to seeing in a regular year. What does this mean for you? With fewer houses available, yours has the chance to be the star of the show if you decide to list it. And with a savvy real estate agent guiding you—like someone from our dedicated San Diego team—your property is bound to get more attention. This buzz could translate to multiple interested buyers, potentially leading to a competitive bidding scenario and a quicker sale. Pair that with the right staging and presentation, and you’ve got yourself a winning combo for a successful sale in this unique market

In Conclusion

In a nutshell, the current housing inventory is startlingly slim— we’re talking about half of what we’d usually expect in a more typical year. What this translates to is a surge of eager buyers, many of whom are on the hunt for gems like yours. It’s a whirlwind out there, and the buyer’s market is overflowing with demand. So, if you’ve been on the fence about selling, there couldn’t be a more opportune time!

Thinking of selling or making the first move? Feel free to reach out to the McT Real Estate Group so we can assist you with your real estate needs. Just think of how your home could stand out in this current market with limited options and inventory!

Is the Housing Market Seeing an Increase in Listings?

The number of homes that are up for grabs is gradually increasing, so If you’re mulling over whether to put that ‘For Sale‘ sign up, now might be the sign that you were looking for. With so few houses on the market right now and while the competition is still manageable, yours can truly shine—especially with the right price tag.

And hey, a little birdie told us that we might be seeing more homes listed soon. The latest buzz shows an uptick in new listings. We know we all heard the news and rumors before that the home inventory in the market is quite scarce right now, but will we see a sudden increase? Let’s dive into why this is a big deal and what it could mean for folks like you.

Increase in the Housing Market

We all know spring is the bustling season for real estate. Every year, it’s like clockwork time and time again: come early in the year, sellers list their homes, hoping to catch buyers during their most active phase. And by the time back-to-school rolls around and the holiday vibes start to brew, the market usually chills out a bit. That’s just the ebb and flow we’re all used to.

But here’s where the plot thickens: this year seems to be breaking the mold, according to fresh stats from Realtor.com. Interestingly, more homeowners are choosing to list their properties much later in the calendar year than we’re used to seeing. A surge in listings this late? That’s practically unheard of! If you take a look at the graph below, you’ll see the typical ebb and flow of seasonal listings. But then, boom—there’s August, sticking out like a total anomaly!

New Listings Tick Up Graph — New Listings Tick-Up Graph

Realtor.com sheds some light, mentioning:

“While inventory continues to be in short supply, August witnessed an unusual uptick in newly listed homes compared to July, hopefully signaling a return in seller activity heading toward the fall season . . .”

Now, we’re only looking at a month’s worth of data here, so let’s not get ahead of ourselves. However, it’s certainly piquing our curiosity, isn’t it? Trends have to start somewhere, and this could be an early indicator of what’s to come. So, let’s not take our eyes off the ball—let’s stay vigilant and keep tracking how things evolve, shall we?

What Does an Increase in the Housing Market Mean For You

Are you thinking of selling your home but have been on the fence? Right now might just be the golden moment you’ve been waiting for. Why? As more homes pop up for sale, waiting could mean more and more competition for you. Imagine your next-door neighbor lists their house – suddenly, you’re competing for the same buyers! Jump in now, and you’ve got the home-court advantage.

New Listing Count in August Each Year Graph

And here’s a tidbit to ponder over your morning coffee: While you might spot a few more ‘For Sale’ signs popping up in your neighborhood and sense a slight increase in the housing market activity, we’re not exactly in what you’d call a ‘balanced’ market just yet. It’s important to remember that there’s still a shortage of available homes, and this isn’t something that’s going to change overnight. Even with new construction in the works and sellers gradually re-entering the market, we’re still in a situation where demand outpaces supply, causing a ripple effect that impacts everything from home prices to how quickly properties are snatched off the market.

In Conclusion

While the neighborhood may seem pretty stable at the moment with only a few ‘For Sale’ signs dotting the lawns, sitting on the fence could soon change that landscape. You might find yourself in a sea of sellers as more neighbors decide it’s time to move and see an increase in your competition. So, why not strike while the iron’s hot? Listing your home in today’s market could turn out to be a game-changing decision, offering you a distinct advantage. Isn’t it worth taking that calculated risk for a potentially big payoff?

Feel free to contact the McT Real Estate Group so we can dive deep into the perks of making your move before everyone else does.

Inflation and San Diego’s Housing Market

Home Equity: A Strategic Move for Your Retirement Plans

Reaching the age of retirement is a big deal for anyone. You know the usual saying: when one door closes, another one opens? Well, that quote fits well here, as opportunities often knock. You might be thinking about selling your home during this phase. Finding a place that better fits your new lifestyle and needs is usually the end-term goal. The great news? Making that first step might be easier than you might think, especially with your current Home Equity.

Think About the Length of Time You’ve Owned Your Home

In the past, between 1985 and 2009, homeowners typically held onto their properties for about six years on average. Fast forward to the present, and you’ll find that the game has changed. Let’s refer to the data below from the National Association of Realtors (NAR). It indicates that since 2010, the average length of homeownership has stretched to just a little over nine years.

How Long Homeowners are Staying in their Houses Graph — How Long Homeowners are Staying in Their Houses Graph

In recent years, many homeowners have found themselves staying in their properties for a longer period of time. During such a lengthy residency and the tenure of staying in your home, life just doesn’t stand still.
It gradually evolves, bringing with it new milestones, challenges, and some shifts in your needs. If you discover that your current residence isn’t aligning with your changing lifestyle, don’t worry. There could be a home out there that’s a better fit for your new set of requirements. Usually, there are options for upsizing or downsizing, depending on what you’re looking for.

A Deep Dive into Equity and Discovering Untapped Wealth

If you’ve been residing in your home for an extended period of time, chances are you’ve amassed a considerable amount of equity already that can serve as a financial springboard for your next property venture. This equity accumulates in two key ways: first, through the gradual reduction of your current mortgage balance, and second, appreciation in your home’s value over time. Usually through home renovations and improvements throughout the years. The longer you’ve lived in your residence, the more financial gains you stand to reap. It’s more like you reap what you sow kind of saying.

To underscore this point, statistics from the Federal Housing Finance Agency (FHFA) offer illuminating insights, as depicted in the graph below:

How Home Price Have Grown Over Time Graph — How Home Prices Have Grown Over Time Graph

In various local markets, home prices can certainly differ depending on which state you currently live in. Yet, nationally speaking, the data is compelling: homeowners who’ve settled into their residences for about five years have witnessed a remarkable 60% uptick in their home value. If you’ve been a long-term investor in your own home, say for around three decades, your property’s value has likely close to tripled during that period.

Whether you’re contemplating downsizing, considering relocating to your dream neighborhood or just yearning to be nearer to your social circle, that built-up equity can serve as a financial lever in your next move.

Your housing aspirations are totally achievable at the end of the day, and finding the right real estate agent can be a key instrument in that journey. The real estate agent you’re looking for doesn’t just help you list your existing home; they’re also your partner in getting the next property that aligns with your ideal lifestyle and future ambitions.

In Summary

As you navigate the path towards retirement, truly grasping the value of your home equity is like unlocking a treasure chest. It’s not just numbers on paper; it’s the culmination of years of hard work, memories, and dreams. Let’s take a moment to appreciate the equity you’ve amassed over these years. By partnering together, we’ll align this value with your evolving housing desires. Think of it as piecing together a puzzle; with meticulous planning and the guidance of a trusted real estate professional, your home equity becomes a pivotal piece, paving the way to your dream home in the next chapter of your life.

Please don’t hesitate to touch base with us at the McT Real Estate Group. Whether you’re just mulling over some ideas or ready to make decisive moves, we’re here to offer a one-on-one personalized consultation. Let’s dive deep into maximizing your real estate assets and strategize for that comfortable retirement you’ve been dreaming of. Remember, it’s never too early or too late to plan for the future, and we’d be honored to be a part of that journey with you.

Owning a Home Beyond Finances, Its Advantages

2023 Home Price Forecasts: What the Experts Are Now Saying

As 2022 drew to a close and was about to end its chapter, there were a lot of rumors buzzing around with a lot of predictions that the housing market would tank in the year 2023. The majority of the masses started to get anxious, whether it was first-time home sellers or tenured home investors; They were all asking the same question if we were heading towards another disastrous crash like the one that we had experienced in the year 2008. Surprise though, as it turns out those gloomy headlines missed the mark on their home price forecast predictions.

Instead of plummeting and the crashing downfall most experts were expecting this year, home prices showed surprising resilience amidst all of those rumors going around. After the home pricing rise during what some call the ‘unicorn years,’ or what most people refer to as unsustainable record highs, we did see a minor price adjustment compared to that data. But guess what? It was far from a market collapse.

Now, let’s do a quick reality check by comparing the doom-and-gloom predictions from last year with the latest projections. Even the experts are admitting they were a bit too negative with their home price forecast last year as well.

From Past to Present: How Expert Home Price Predictions Have Evolved

The chart below presents 2023 home price prediction data from seven different organizations. It shows you a side-by-side comparison of their initial projections made in late 2022 highlighted in red, with their most recent updates for where they expect prices to land by year’s end.

As you can see by the glaring scarlet red in the center column, the initial forecasts had predicted a sharp decline in home prices across the board.
However, fast-forward to the rightmost column, and you’ll see a different light in the story. Every expert has since revised their year-end predictions, now expecting home prices to either hold their ground steady or even have a bump or increase. That’s a major turning point from the doom-and-gloom they were all projecting just a year ago.

Stay Ahead of the Curve with Our Cutting-Edge Predictions

You can definitely expect some head-scratching media stories about home prices forecast in the coming months. Why? They often get thrown off by the usual fluctuating ups and downs that come with different seasons. Here’s your sign and turning point to stay one step ahead of the game of any doom-and-gloom headlines.

As the year winds down and the season changes, which is completely normal in any kind of market, you can definitely expect the pace of home price growth will slow down a tad bit. But don’t mistake this for plummeting prices or a downward spiral—it’s more like gradually tapping the brakes, not slamming them.

In simpler terms or just in summary, a slower increase in home prices doesn’t mean they’re actually falling as you can base it on past predictions.

Final Thoughts

The headlines from a lot of articles and news stories can really shape how most people think, even when they’re off the mark increasing your anxiety in buying or selling a home. Despite last year’s media buzz claiming home prices would plummet and all the home price forecasts, the reality has been quite different, as you might have understood and learned from this article.

Feel free to reach out to the McT Real Estate Group; we’re your go-to source for cutting through the noise with trustworthy info.

Decisions Seniors Make When Downsizing Their Home in San Diego

The decision to downsize is the ultimate decision. As you go through the process you’ll realize that decisions await you at every corner. Will you move into a house or an independent living community? What items come with you and what must go? Another important decision is what you’ll do with your current home. Below you’ll find helpful tips to help you navigate these decisions.

Deciding Where to Move

San Diego is home to a variety of unique home styles including one-story ranch properties, Spanish styles, townhomes, split levels, and post-modern homes. However, if you’re looking to live close to other seniors, independent living communities are a good option. They come with a variety of services like housekeeping and meal plans, so there’s no need to constantly manage household duties on your own. You’ll also maintain an independent lifestyle and will have access to in-home care on an as-needed basis. It’s worth taking a tour of nearby facilities to see what you think, but pay attention to the price tag. Costs of independent living facilities in San Diego range widely from $1,655 to $16,500 per month.

Deciding Whether to Sell Your House

One of the most common choices regarding your current home is to sell it and use that money to purchase your new home. To make things easy, hire a real estate agent. Agents have access to loads of information, including market trends, competing listings, and comps. Plus, if you’re wanting to sell your home quickly, you’ll need them to help you be aggressive about marketing. While your agent works their magic, get a head start on packing and decluttering. Your new home will have less square footage and storage space, so downsizing your items is a must. Start with the stuff that’s easy to get rid of first such as duplicate, broken, forgotten, and expired items, then go room by room. Decluttering is one of the important steps in staging your home as well so that buyers can focus on the home’s potential rather than your stuff.

Deciding Whether to Rent

If it looks like your home might be on the market for a while, you won’t be able to get the price you want, or you want to keep your home, renting is an option. However, this requires some investment on your end, including a renter’s insurance policy, permits, and repairs/updates. You must also decide if you want to be your own landlord or hire a property management company to help you find/screen tenants, collect rent, handle repairs, and communicate with tenants. You’ll be happy to learn that renting does have some tax benefits, including the ability to deduct rental-related expenses like mortgage interest, taxes, repairs/maintenance, cleaning, insurance, and even depreciation.

Deciding Whether to Keep the Home

For many seniors, the thought of selling the family home is difficult. Perhaps you want to pass the home on to children, or at least keep it in the family a little while longer. You may have this stipulated in your will, but how can you pass your home to children while you are still living? You may have heard about homes being sold for $1, which is a large gift. Nothing is stopping you from doing it, but if the home is worth $250,000, then you just gave a gift of $249,000. You get a $15,000 gift tax exclusion per person per year. You must then decide whether to pay the gift tax now or apply it to your lifetime exemption of $11.4 million. There are other ways to transfer the property including re-titling or deeding.

Downsizing is a decision that requires much thought, and the same can be said as to what you’ll do with your current home. You can go the traditional route and sell your house, or choose a completely different path and rent or keep it altogether. Other decisions like where to move and what to do with your belongings will also have to be made. Think them through and talk them over with family and friends (and professionals) to arrive at the decisions you’re happiest with.

If you do decide to sell your home in San Diego, The McT Real Estate Group can help you with the process of selling your house. Contact us at 619-736-7003 so we can set up a time to have a conversation.

4 Home Renovations That Will Max Your ROI

Home renovations do not have to break the bank. Here are some ideas that will help whether you are planning on staying in your house for a while or whether you are planning to sell your home in the near future. Knowing what type of home projects will net you the highest dollar amount and max your ROI is always a good thing. Potential homebuyers will deduct a lot of money for a bathroom that needs updating. Doing small bathroom remodels counts a lot when potential buyers see it. It will also make you feel great while you live in the home. Enjoy a nice bathroom!

Freshening up the landscape will get more buyers to walk into the house. It is the first thing that potential buyers see before they step inside. As part of your home renovations, you should consider adding new sod or, better yet, in San Diego, drought-tolerant is much better for conserving our water. Don’t forget about the front door. If it looks dingy, freshen it up with a new stain or painting it a beautiful bright color. If the exterior of the house looks drab, give it a lovely fresh coat. You will receive a good return on your investment by doing a few of these items. You will also enjoy living in a renovated home.

If you have any questions regarding your best return on investment when selling your home, contact the McT Real Estate Group at 619-736-7003. We are happy to go over things you should consider if you are planning on selling in the near future.

Selling a Home in North Park

Expect that selling a home in North Park these days can happen quickly if properly executed. We keep hearing about how low the inventory is and what a great seller’s market we are in. Yes, we are in a seller’s market. However, because of this, we sometimes run across homeowners that believe they can get much more than what their home is worth, even though there are no comps that would support that amount.

For a homeowner that is thinking of selling their home, there are lots of things to consider. Choosing which Realtor to work with to help you with this process is one of those things. Although, there is the occasional home seller that may even think that in today’s market it doesn’t matter who you pick.

Which Realtor Should I Choose?

When selling a home, a homeowner may choose a Realtor because they charge a lower commission or work in what is called a discount brokerage. They may even pick a Realtor because the Realtor said they can get that seller a $50,000- $100,000 more than what the current comps say; even though there are not any comps to support that price. Some Realtors will say anything to get a homeowner to sign a listing agreement. Unfortunately, the home will sit on the market for months with no offers in-sight. In the meantime, the Realtor will try to get the seller to reduce the price and continue to do so until they get to a price where they eventually get an offer. Expectations were not set upfront and you now have an aggravated and unhappy seller.

With so much online information at our disposal, I can see where a homeowner may even think they can try to sell their home themselves or pick any Realtor whatsoever. You may think that this will save you lots of money. In reality, what it will end up doing is costing the seller thousands of dollars more in the long run.

Falling Out Of Escrow

What you are not able to find online is the track record of fallouts from many of these discount brokerages or individuals that will discount their commission for almost zero. What I mean by this is the number of times a buyer falls out of contract and the listing has to go on the market again. However, now you have a ton of scary inspections left behind from the previous buyer. You will now have to disclose all of this to the new potential buyer. If a possible seller knew how many times this Realtor/Real Estate company has fallen out of a contract because they were not able to negotiate through and complete a SOLD transaction, they may put more thought into who they hire to represent them with the sale of their home.

Selling a Home

There is more to selling a home than just putting a sign in front of the house, taking photos and uploading your home into the MLS.(multiple listing services). Besides pricing the home right, picking the right buyers that are financially qualified to get a fully approved loan; there is also what happens after an offer is accepted and the buyer does their home inspection. This is where real negotiating skills come into play.

In North Park, South Park and the metro area in San Diego, our homes are over 100 years old. If a Realtor is not experienced with selling older homes things could get a little hectic, to say the least. An experienced Realtor working with their homebuyer is able to walk them through the process of what to expect to see when a home inspection is done on these types of older homes. Even the prettiest homes that have been remodeled will scare the faint of heart when the inspector takes pictures under the house and completes his/her inspection. Foundations are old, roofs are old, windows are old. These are not cookie-cutter tract homes. Knowing this upfront will save all parties front lots of headaches. New home construction is not the type of house that you are going to find in San Diego’s Metro communities.

If you live in North Park you probably have one of these older homes. If you happen to accept an offer from what seems to be a motivated buyer working with a Realtor who is not experienced with these types of homes, it is time to hold on to your hat because the ride is about to get bumpy right about now.

All kidding aside, I have seen it many times and just heard of another case this morning. A colleague of mine accepted an offer from the “motivated buyer/Realtor” mentioned above. The home happens to be a 1930’s Craftsman Bungalow in South Park right by the park. After the buyer did their home inspection they were shocked to find out the foundation was old, the plumbing was old and some of the electrical was old. They went back and asked the seller of the home to reduce the price by $100,000 because they said the house needed a new roof, new foundation, new electrical, etc. I think they may have thought they were buying a new house that only had the charm of an older home.

The listing agent received this notice of the $100,000 request, she then had her preferred vendors go to the house and give a proposal on the higher ticket items that came up in the buyer’s inspection. The proposal came back at $35,000. The seller was then willing to credit the buyer as a reduction in price and was willing to negotiate. However, at that point, the buyer’s agent without further notice sent in a cancellation. There was no communication, no negotiations, just a cancellation. The realtor working with these buyers was not familiar with homes in South Park, North Park or any of the metro areas. They had only worked in North County where most of the homes in their neighborhood were track homes that were newly built. Folks, it really is important to work with a Realtor who is experienced and will negotiate properly on your behalf.

When To Negotiate

Buying and Selling Real Estate is about negotiations and properly executing contingency periods. When I hear that someone just sends in cancellation papers without a conversation it makes me shake my head in disbelief. The buyer’s agent had no clue about older homes or negotiating through a transaction. Nor were they able to speak on the phone. This is simply a disservice, in my humble opinion to everyone involved in that transaction.

Unfortunately, when you fall out of escrow, the buyer’s agent will typically send all inspection reports that have been completed by a buyer’s inspector. When this happens, the seller will now have to show all of these reports to a new potential buyer. This is what is known as “material facts”. However, this taints your property and now shows on the MLS that your home has fallen out of escrow. Whether these inspections were completed by a competent inspector or not, the new potential buyer will look at these inspections and decide that the place is falling apart; when in fact, this is not the case. It is just an older home.

If this home was priced right from the very beginning, and certain inspections were completed right up front, in today’s market it would have most likely received multiple offers. The buyer would not have been able to say that they did not know the condition of the home. Also, with multiple offers, the sellers would have then had other choices and would have a “JUST SOLD” sign in front of their house today.

Thinking of Selling A House in North Park?

If you are thinking of selling a home in North Park, South Park, or any area of San Diego and would like to speak to a local Real Estate Expert in the neighborhood, please call the McT Real Estate Group at 619-736-7003 right now. We would be happy to speak with you about the process of selling and how we go about preparing your home to enter the marketplace. Feel free to search our online reviews and see what people are saying.

More Info About Selling A Home

Renting Your House in North Park vs Selling

Renting your house in North Park can be easy if you are the owner of the home. However, are you ready to be a landlord? There are certain things to consider if you are planning to turn your home into a rental. Here are a few tips that will help you decide whether this is the best thing to do.

Hiring a Property Manager?

Will you be the one responsible for finding the tenant, running the credit check, checking their references, etc.? Will you be the one they call when something goes wrong with the plumbing, electric, roof, etc.? Do you have a handyman, electrician, roofer, plumber and these types of tradesman ready to tend to you if you get one of these distressed calls from your tenant. Having a relationship with these people is very important, especially when you need them in a hurry.

Will You Have Enough Cash Reserves for Maintenance and Repairs?

If you own a house in North Park, South Park, or any of the Metro neighborhoods in San Diego, you will most likely have a one-hundred-year-old house or close to it. Even if it has been upgraded, it most likely has older plumbing and some older electric, to name a few things. You will need to have a rainy day bucket for this. It is not “if things break” but more like “when things break.” It would be best if you planned on having an account with at least $3,000-5,000 dollars in it for emergencies.

Create Home Rules for the Renter

Rules are essential to have. This should be in writing and signed by the tenants at the time they are signing the lease. This brings me to the lease part. Make sure you have a written lease. There are many places you can pick one up. If you are in San Diego, you should have one that is specifically for Southern California. You can pick them up at any Staples or take a look at wiki downloads. Everything should be in writing. If you want something to happen or not happen, you better put it in black and white. Otherwise, a year later, it will be like it was never agreed upon.

Will You Live Local Or Out Of State?

If you are going to live locally while renting your home, this may be a little easier to do yourself. If you are out of state, this may be a bit more challenging to do since you won’t be around to check on how your investment is doing with a simple driveby. Remember, this is no longer your home sweet home. This is a true investment, and you will want to make sure that it is being maintained, so your investment continues to grow.

What Are the Benefits Of Selling A House While You Have Lived In The House 2 out of 5 Years?

Everything has gone well with your rental, but you realize that the Real Estate Market is doing well. You heard about this thing called “Capital Gains.” Is it getting close to when you will have to pay capital gains if you don’t sell now? Take a look at the rules on the IRS website. It will give you an idea of where you stand. The best thing to do is to speak to your certified public accountant about this. Find out the taxes and capital gains on the house if you make money on the sale. Not knowing what this is about can cost you thousands of dollars.

Selling A Home While a Tenant Is Living In It

So you decided that you are done with being a landlord and you would like to sell the home while the tenant is still living there and paying rent. You may think that you will save money this way. In reality, it will cost you a lot more by doing this. Think about it; the tenant is not happy that you are not renewing the lease. They now have to look for another place to move to. They are not motivated to keep the home tidy and in mint condition for showings. Nor are they happy to let strangers into their space while they are not home. They also do not want to have to leave if they are home while showing. Nor do they like to permit us to do an open house. You, the seller, will ultimately receive a lot less in proceeds if you choose to keep the tenant in the house while you put it on the market for sale. This, of course, stands true if it is a single-family house. If it is a multi-family house, different rules apply. The buyer of a multi-unit house may want to have the tenants in place if the rents are good and the tenants are all paying their rent on time.

Work With A Local Experienced Realtor

Stay tuned with the local realtor in the area. Are you receiving marketing pieces from a local realtor showing their sales in the area? Are they keeping you informed? If you have been using a property manager to manage your rental, this is not always the best choice for selling. These are two completely different aspects of the Real Estate Business. Do your homework first. Google “North Park San Diego Real Estate.” Find out who is selling most of the homes in the area. Go on their website, yelp and google reviews to see what people are saying about the experience of working with them are. Have a conversation with them, and you will immediately know if you make a good fit to sell your house in North Park.

If you have any questions about buying a home or selling a home in North Park, South Park or any other metro area of San Diego, contact the McT Real Estate Group at (619) 736-7003. We are happy to speak with you.

More Information About Selling A House in San Diego

Best Time to Sell a Home in North Park San Diego

We are often asked, “when is the best time to sell our home in North Park”? Our answer is always the same. It depends on your personal situation. Do you want to sell your house because you would like to buy a larger home? Do you have a job opportunity in another part of the country? Do you want to downsize? Do you want to sell your North Park house because you want to move closer to the beach?

There are a lot of reasons why someone decides to make this move. Selling a home is a big decision to make, so deciding on when is the best time to sell depends on many reasons.

Here Are Some Reasons Why Selling Your Home Now Makes Sense

The Inventory in North Park is at an all-time low. Taking advantage of the law of supply and demand works in your favor. It creates the Sellers Market that we are currently experiencing. The best time to sell something is when there is a high demand for something and its supply is low. We are working with lots of home buyers searching for a house but don’t have much to choose from. If you list your home in this current market, you will not have as much competition from other sellers. This will ultimately create home price appreciation when buyers flock to your house.

Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors say that mortgage rates will continue to rise over the next four quarters. This typically slows down home prices from escalating as home buyers will have less buying power.

Best Time To Sell A Home In North Park San Diego

Looking at the chart shown here, in 2016, it seems as if June and July would be the best time to sell a home in North Park. However, this doesn’t necessarily mean that sellers received a higher dollar amount during those months. It just happens that more homes have come on the market, and buyers can buy them.

North Park and San Diego, in general, has beautiful weather year-round. We don’t have to wait for the cold and snow to go away before putting a house on the market. People are searching for homes year-round, and picking what month is best does not really translate in San Diego. This, of course, depends if you have kids in school and don’t want to disrupt their school calendar year.

Supply and Demand

The best time for most people to sell a home would be when there is less competition. According to the National Association of Realtors, below is a chart showing the latest home sale report nationwide.

Best Time to Sell a Home Chart — Supply and Demand

Call The McT Real Estate Group

You may be overwhelmed with the thought of selling your home right now. You have so much to do and so little time. Don’t worry about the details. The McT Real Estate Group will be able to help you with getting your home ready. From de-cluttering your home to staging it to sell. We will help you with getting a pre-inspection if needed and also finding your next home. Whether your next home is local or in another part of the country, we can help. We are here for the long haul. Let us know if you have any questions regarding the North Park Real Estate Market or any San Diego Metro Market. Call us to schedule a complimentary listing consultation at 619-736-7003 or email us at mary@marymctsoldme.com.

11 Tips for Selling Your Home in San Diego for Top Dollar

If it’s time to sell your home, you probably want to make sure you get the highest possible price. Not only will you want to get top dollar for your house, but you probably want to sell your home as fast as possible. Below, are 11 of the best tips for selling your house in San Diego that will bring you the highest dollar amount possible.

Choosing Your Realtor

While you may think a Realtor and Real Estate Agent are interchangeable terms, they are not. When a real estate agent becomes a Realtor, it means the agent has joined the National Association of Realtors. This makes a difference and you want to choose a Realtor who adheres to the codes of ethics created by the NAR. They should also have plenty of experience with home selling in San Diego, specifically in your neighborhood.

Understand Curb Appeal

Curb appeal won’t show up on an appraisal, but it will matter when you sell a home. It’s the first impression potential buyers will see through online pictures, videos, and as they pull up to your house. If you want to draw more potential homebuyers in, take the time to create better curb appeal.

A few ways to create better curb appeal include:

Proper landscaping
Paint the front door and entryway
Replace an old mailbox
Replace old light fixtures
Clean up any debris
Trim the hedges

Have a Comparative Market Analysis (CMA) Prepared For You

Any good Realtor should know how to do a proper CMA. This will show you what other homes in the area, similar to yours, have been selling for. With you are provided with a professional CMA , you will have a better idea of the price the current market will support for your home. Remember, an “Active” home is not comparable, you should be looking at houses that have gone “Under Contract” and homes that have “Sold” in the last 3-6 months. This will depend on what type of market you are currently in.

Price Your Home Properly

Your Realtor should advise you on what the selling price should be. You want to price your home to gain attention, which doesn’t mean underpricing it. However, you should not overprice your home either. If you do you will scare away potential homebuyers. Instead, you will help sell another homeowner’s house that was priced properly.

Clean Your Home and Keep It Clean

A clean home will impress potential buyers much more than a dirty home. You should have your home cleaned by a professional, and then it will be easier to keep it clean. Get rid of any smells from pets, smoke, cooking or any other odd odor, as well.

A few other good tips for helping you sell your home for a higher price include:

Disclose any issues upfront with buyers
Keep your emotions in check during the process
Make small repairs, if possible
Stage your home
Make sure your contract includes everything in writing

If you’re going to be selling a house in San Diego and you want to get the highest price, start by hiring the right local Realtor. He or she will be able to give you plenty of advice on how to get your home sold quickly for a fair price as well as what to update before putting your home on the market for sale.

Other Tips to Help You Sell Your Home for Top Dollar

Selling A Home Fast In San Diego

Selling a home fast in San Diego does not mean you have to sell it under market value. The McT Real Estate Group can sell your house quickly and for top dollar – and have done this for many years in North Park, South Park, and other neighborhoods of San Diego. A well-prepared house, properly marketed and appropriately priced, will typically sell in our urban neighborhood of San Diego within the first 30 to 60 days.

The San Diego market is great for sellers right now because of low inventory. It is one of the most desirable places in the country, so many people want to live here. This is a good thing for homeowners thinking of selling their homes, especially in today’s seller’s market. You, as the seller, will have more negotiating power because of this. This does not mean that you can pick a selling price out of the sky. We still see homes that are having a hard time selling. There are several reasons for this happening in this market. Some of these homes have been thrown on the market without preparation and have been overpriced.

Selling a Home Fast With a Limited Budget

If your goal is to sell a home fast and have a limited budget, talk to a local and experienced Listing Agent. They can refer you to several qualified home inspectors so you can be pre-inspected. You and your Realtor can focus on the things that should be repaired that are not too costly but would be important to a home buyer.

Don’t think that spending money on a home you’re trying to sell is wasted money. Some things should be addressed as they may be minimally fixed, but a buyer may make a big deal once they do their inspection. A homebuyer will pay a premium for a house that is in good condition. You wouldn’t want them to walk away because the air conditioning system doesn’t work or because the sewer line is cracked. To sell quickly, take immediate action, but be sure your house is in suitable condition for the market. Don’t list the house until it’s ready.

First Impressions – Curb Appeal

San Diego is great for many reasons – one of them being the creative expressiveness you have when decorating than more traditional settings are bound by. You might think of white as boring, but you can easily and inexpensively add some flair; off-white with a tropical trim looks stunning and is very welcomed in San Diego’s Urban Communities.

Spanish Style Home With accent color — Spanish Style Home with a Splash of Color

You won’t want to paint the entire house too loud of color as this will ward off some buyers. Stick with neutral colors and get creative with accent features like the front door, windows, and shutters. The outside of the house is the first thing buyers will see, so start there.

A cluttered, messy front yard will give buyers the impression the interior is also neglected. An immaculate interior won’t matter if a buyer never bothers to go inside. Consider a rock garden – they are a great, low-maintenance way to give the house great curb appeal without working hard to keep it looking good.

Interior Decorating

So, here’s a scenario: the appealing exterior of your house has attracted a potential buyer – great! They open the gate with a smile and excitedly walk through the front yard. They open the front door, step inside, and are then confronted with a strong, musty smell. Things went from good to bad rather quickly! Nothing says “neglect” like a smelly house. Avoid this harmful scenario by getting the house professionally cleaned.

Less is More -cluttered rooms will make them look small. You want to open up space and accentuate the attractive features of the home. This room isn’t massive but works well because it has the right amount of furniture.

A Kitchen Facelift

Kitchen and bathrooms – these are the focal points most buyers have in houses. A dingy kitchen with outdated appliances is an immediate turn-off for buyers. A good listing agent will know how to prioritize what to spruce up to remain within your budget.If your kitchen has a set-up like this photo on the left side, you can remove the overhead cabinets to open up space, such as the kitchen on the right-hand side. It creates a room that feels much larger than it is.

The same is true for a dated bathroom. Jazz it up with new door handles and fixtures. Paint the bathroom a lighter color and replace the caulking. For more tips on sprucing up your house, Check out this article on Catering to Millennials.

San Diego Sunshine

San Diego is known for its abundant sunshine, and the best part is: it’s free! Use it to your advantage. Pull back the curtains and make sure there’s nothing blocking sources of light like an overgrown bush in front of a window. A bright living space can make it obvious what to fix first, like a dirty carpet that didn’t look so bad when it was dark inside.

Amplify this phenomenon by painting the room white. You may love your burgundy-colored office – but selling fast means you’ve got to open up the door to as many buyers as possible. White will make the space look bigger and brighter. Additionally, use bright light bulbs to illuminate the inside of your house at night. In your backyard, adding lights to your porch and fence will create an alluring ambiance.

Ask Tenants To Move Out

If the home that you are selling is a rental, you will be faced with a difficult conversation. You are most likely going to have to ask the occupants to move out. In our experience, trying to sell a home in which renters occupy has proved challenging. Tenants have no incentive to make sure the house is clean and tidy. They are not too eager to show the property to a potential buyer. No matter how nice or easy-going they are, they won’t be excited that you’re getting ready to sell the house that they live in. If a buyer has a hard time trying to get in to see your home that is for sale, they will move on to another one that is easy to show.

The bottom line is when the home is not occupied by tenants, well-maintained living space is proven to be the most marketable. Keep in mind that if the tenants have lived in the home for over a year, they must receive a 60-day notice. Under a year gets 30 days, so plan if you’re goal is selling your home quickly.

Homes Are Staying on the Market Longer Bar Graph by NAR

According to the National Association of Realtors (NAR), homes are staying on the market longer than before. For instance, homes recently averaged eight more days on the market than last year. With buyers becoming increasingly patient, sellers need to be flexible and ready to adapt. While market inventory and mortgage rates are beyond your control, there’s one powerful factor within your reach: the real estate agent you choose. Selecting an agent who understands the nuances of the San Diego market can mean the difference between a quick sale and a lengthy listing.

So, if selling your home fast is a priority, here are a few proven strategies a top San Diego agent will guide you through to achieve your goals.

1. Competitive Pricing is Key

In San Diego’s dynamic market, the right price can make or break your sale. Pricing competitively from the start is essential to attract serious buyers. A skilled local agent will perform a thorough market analysis, comparing recent sales and active listings in your area. This data-driven pricing strategy ensures your home hits the market at a compelling price, immediately drawing potential buyers and minimizing the chances of your listing becoming stagnant.

As U.S. News points out, “Setting an unrealistically high price with the idea that you can come down later doesn’t work in real estate. A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is eventually cut, because buyers think there must be something wrong with it.”

2. The Condition of Your Home

When speed is a priority, presenting your home in top condition is crucial. Homes that are well-maintained, with appealing curb appeal and modern touches, tend to sell faster. San Diego buyers often appreciate a blend of coastal charm with contemporary finishes, so first impressions matter.

An experienced agent can advise you on what buyers are looking for and whether staging will add value. They’ll also help you identify repairs that could deter buyers if left unaddressed. According to Ramsey Solutions, it’s best to “take care of things now that will be a problem in the closing process,” such as plumbing, roofing, or electrical issues. Proactively handling these repairs can make your home more appealing and save time in the long run.

3. Offering Enticing Incentives

To make your home stand out in a competitive market, consider adding incentives to attract buyers. Options like contributing towards closing costs, offering a home warranty, or including appliances can make your listing more appealing than others. In San Diego’s current market, these extras can give your property the edge it needs.

Partnering with a local real estate expert means you’ll benefit from their knowledge on which incentives resonate with buyers and how to market them effectively.

Bottom Line: Partner with an Expert

Selling a home quickly in San Diego’s evolving market demands strategy, market insight, and a clear understanding of buyer priorities. Working with an experienced local agent is invaluable. As Forbes advises, “When time is of the essence, you can’t afford to take a chance on an inexperienced housing professional.”

By choosing an agent who knows the San Diego market and understands your needs, you’ll be well-equipped to sell your home quickly, even in a challenging environment.

If you are thinking of selling a home fast in San Diego and would like to speak to an experienced listing agent/Realtor, contact the McT Real Estate Group. We would love to be able to help you with the process.

Selling Your Home in San Diego in 2017

Are you thinking about selling your home in San Diego? Now is an excellent time for homeowners in North Park, South Park, and the metro neighborhoods who’ve been waiting for the right moment to list their property. Home values in these sought-after areas have seen significant appreciation, often surpassing the peak prices from the mid-2000s. With strong demand and limited inventory in these neighborhoods, sellers are in a prime position to attract competitive offers.

Interest Rates Are Going Up

Median Home Prices

Below is an active live chart showing the median prices in North Park over the last 13 years. You can see that our home prices are higher than in 2007, which was right before the 2008 decline.

Based on available data, here’s a summary of median home prices in North Park, San Diego, from 2004 to 2017:

Year	Median Home Price
2004	$577,041
2005	$603,679
2006	$585,974
2007	$495,497
2008	$346,597
2009	$382,226
2010	$375,790
2011	$359,930
2012	$418,290
2013	$479,690
2014	$494,500
2015	$530,000
2016	$568,000
2017	$605,000

Note: These figures represent median home prices for San Diego County, as specific data for North Park isn’t readily available.

La Almanac

In 2007, just before the 2008 housing downturn, the median home price in San Diego County was $495,497. Fast-forward to today, and median home prices have soared well beyond the $600,000 mark seen in 2017, with many areas surpassing $900,000 or more, depending on location and property type. This upward trend reflects the strong demand and limited supply that continues to define the San Diego real estate market.

Currently, we’re still in a seller’s market, meaning there are fewer than six months of inventory available. In contrast, a buyer’s market occurs when there are more than seven months of inventory. For example, if no new homes were added to the market, it would take over seven months to sell all existing listings in a buyer’s market. That’s far from the reality here in San Diego. In neighborhoods like North Park, South Park, and other metro areas, we’re seeing closer to 1.5 to 2 months of inventory, keeping competition high and giving sellers a clear advantage.

Thinking of Selling Your Home?

Are you a homeowner in North Park, South Park, or any other metro neighborhood in San Diego? Are you thinking of selling your home? If so, contact the McT Real Estate Group right now. We will find out your specific goals and together devise a strategic plan of action to ensure you receive the absolute highest dollar amount for your home.

Understanding the Importance of Accurate Pricing in Real Estate

Final Thoughts

Selling Your Home Yourself Means Nailing the Right Price Tag

Let’s Be Real: You’re Probably Not a Pro at Marketing Homes

You Might Find the Endless Negotiations Overwhelming

The Final Word of Selling Your Home Solo

Your Listing Agent Should be Utilizing the most current market data; together, with their guidance you’ll determine the optimal price for your home.

Having superior negotiation skills is paramount.

A proficient problem solver is what they are

In Conclusion

Inventory is Still Historically Low

In Conclusion

Increase in the Housing Market

What Does an Increase in the Housing Market Mean For You

In Conclusion

Think About the Length of Time You’ve Owned Your Home

A Deep Dive into Equity and Discovering Untapped Wealth

In Summary

From Past to Present: How Expert Home Price Predictions Have Evolved

Stay Ahead of the Curve with Our Cutting-Edge Predictions

Final Thoughts

Deciding Where to Move

Deciding Whether to Sell Your House

Deciding Whether to Rent

Deciding Whether to Keep the Home

Which Realtor Should I Choose?

Falling Out Of Escrow

Selling a Home

When To Negotiate

Thinking of Selling A House in North Park?

Hiring a Property Manager?

Will You Have Enough Cash Reserves for Maintenance and Repairs?

Create Home Rules for the Renter

Will You Live Local Or Out Of State?

What Are the Benefits Of Selling A House While You Have Lived In The House 2 out of 5 Years?

Selling A Home While a Tenant Is Living In It

Work With A Local Experienced Realtor

Here Are Some Reasons Why Selling Your Home Now Makes Sense

Best Time To Sell A Home In North Park San Diego

Supply and Demand

Choosing Your Realtor

Understand Curb Appeal

Have a Comparative Market Analysis (CMA) Prepared For You

Price Your Home Properly

Clean Your Home and Keep It Clean

Selling a Home Fast With a Limited Budget

First Impressions – Curb Appeal

Interior Decorating

A Kitchen Facelift

San Diego Sunshine

Ask Tenants To Move Out

1. Competitive Pricing is Key

2. The Condition of Your Home

3. Offering Enticing Incentives

Bottom Line: Partner with an Expert

Interest Rates Are Going Up

Median Home Prices

Thinking of Selling Your Home?

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