selling a home Archives

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

Are you thinking about the common question of whether or not it is now a good time to sell your home? Well, the quick and simple answer to your question is absolutely without a doubt! Given the limited number of homes on the market inventory these days, it’s about prime time to do so.

You might’ve caught wind and already heard the rumors that property listings are quite scarce lately compared to the past few years, but you might not grasp just how much or why it’s a bonus for you when it comes to selling. To understand and give you a clearer picture, check out this graph from Calculated Risk below.

Inventory is Still Historically Low

See the little uptick in the blue bar? That’s a teeny increase in housing listings from a few weeks back, with just about 0.7%. But look at those big red scarlet bars! They show that our overall supply is still pretty slim. In fact, compared to this exact week last year, we’re down by about 10% – and trust me when we say this: the housing market inventory was already pretty scarce back then.

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, are you thinking of selling your home? Here’s the scoop: inventory is way tighter than in a typical year, with only about half the usual listings the market has encountered. This means your place could truly shine if you put it up for sale now, especially with the right real estate agent by your side. You can expect more eyes on your property, possibly multiple offers, and potentially a swift sale.

In Conclusion

In a nutshell, the homes on the market right now are about half of what we’d typically see in a regular year. This means people are looking for places like yours, and the buyer’s market is completely saturated right now!

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 it gets a little bit interesting: recent data from Realtor.com suggests something different this year. We’re seeing more folks list their homes later in the year than usual. A spike this deep into the year? Pretty uncommon, don’t you think? Check out the graph below, and you’ll spot the regular seasonal trend… then there’s August standing out like a sore thumb!

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, it’s just a month’s worth of data, but it’s quite intriguing. While we can’t jump to conclusions just yet, it’s a trend to watch closely. So, let’s keep our eyes peeled, 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 something to chew on: even though we’re seeing a few more “For Sale” signs around and an increase in the housing market right now, we’re still not at what we’d call a “normal” market. There’s still a shortage of homes, and turning that around won’t happen instantly.

In Conclusion

While there aren’t a ton of houses on the block right now, waiting around might mean more neighbors putting up their ‘For Sale’ signs and will increase your competition in the long run. Selling your home today could be a golden move for you. Why not take the chance?

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.

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. One thing you might be thinking about during this phase is selling your home. 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 plan your retirement journey, the importance of understanding your home equity cannot be overstated well enough. Let’s come together to assess the home equity you’ve managed to build over time, and let’s strategically align it with your current housing needs. With detailed planning and the right real estate agent by your side, we can use this as a cornerstone of your future dream home.

Please don’t hesitate to reach out to the McT Real Estate Group for a one-on-one personalized consultation on optimizing your real estate assets and planning your retirement ahead.

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.

The 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 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 to be that more homes came on the market, and buyers could buy.

Since 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.

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Final Thoughts

Deciding Where to Move

Deciding Whether to Sell Your House

Deciding Whether to Rent

Deciding Whether to Keep the Home

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Selling a Home

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Work With A Local Experienced Realtor

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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

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