selling a house in san diego Archives

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.

Inflation and San Diego’s Housing Market

Have you ever sat down and just thought about the ripple effect of inflation on San Diego’s housing market in general? Well, the two are more intertwined and correlated than you might think. A shift in one often signals a change in the other and of course vice versa. Let’s go ahead and dive in with us as we explore this intricate relationship and try to understand it together.

Decoding Housing Inflation: A San Diego Perspective

Housing inflation, often termed ‘shelter inflation,’ gauges the growth or increase in housing prices. The Bureau of Labor Statistics (BLS) conducts a survey where renters disclose how much they pay for their monthly rent, and homeowners estimate the rental value of their homes. Just as general inflation gives us insights into the fluctuating costs of daily goods and services, shelter inflation shines a light on shelter costs. Recent trusted data reveals a staggering decline in housing inflation over the past four months which was quite a breath of fresh air if you are going to refer to the data below. As you can see from the survey results housing inflation has been on a constant rise for the past few years and was finally seeing some downward slopes this year.

Now, the big question arises: Why is this significant for San Diego residents or even the masses in general? Housing inflation contributes to roughly a third of portion on the overall inflation in total, as indicated by the Consumer Price Index (CPI). A dip in housing inflation could hint at a potential decrease in overall inflation, offering that sigh of relief to our local economy in the months ahead.

The Federal Reserve has been striving to rein in inflation ever since 2022. Their efforts have seen some success, with inflation rates dropping from a peak of 8.9% to a current 3.3%. However, the ultimate goal remains a stable 2%.

The Federal Funds Rate: The Fed’s Tool Against Inflation

To combat the rising inflation, the Federal Reserve has been adjusting the Federal Funds Rate. This rate determines the cost for banks to lend and borrow money from each other. As inflation soared, the Fed countered this by hiking the Federal Funds Rate, ensuring the economy remained balanced and stable. To understand this further, let’s base it on the graph below; the blue line refers to Inflation and the orange line refers to the Fed Funds rate,

The graph above illustrates and gives us an idea of the Fed’s proactive approach. Whenever inflation surges, the Federal Funds Rate is adjusted to bring it closer to its usual 2% target. The recent moderation in inflation suggests that we might see fewer rate hikes in the near future.

What Does This Mean for San Diego’s Mortgage Rates?

While the Federal Reserve’s decisions don’t directly set mortgage rates, they certainly influence and set a certain standard for them.
As explained by Mortgage Professional America (MPA):

“mortgage rates and inflation are connected, however indirectly. When inflation rises, mortgage rates rise to keep up with the value of the US dollar. When inflation drops, mortgage rates follow suit.”

For potential homeowners in San Diego, the current trend of moderating inflation brings a glimmer of hope for more favorable mortgage rates in the near future. This is good news and totally in your favor.

Conclusion:

Whether you are looking to invest, maybe thinking of buying or selling a home, or just want to keep your finger on the real estate pulse, Now is a great time for a conversation. Feel free to reach out to the McT Real Estate Group for any of your real estate needs here in San Diego; we’re happy to help!

Master Guide to Selling Your Home in North Park, San Diego

Welcome to our ‘Master Guide to Selling Your Home in North Park, San Diego,’ where we’ll delve into insider tips, industry secrets, and the latest real estate trends to help you navigate the San Diego housing market effectively and profitably.

North Park, a residential and commercial area in San Diego, is a locale that blends the best of both worlds – serene suburban vibes and a vibrant city pulse. Famed for its cultural diversity, eclectic cuisine, and renowned Balboa Park, North Park is a sought-after location for potential homebuyers and real estate investors.

Understanding the Selling Dynamics of San Diego’s Real Estate Market

Selling your home in North Park in such a fast-paced, thriving real estate environment as San Diego demands not just a fundamental grasp of market dynamics but also the right strategies to exploit these dynamics in your favor. The city’s ever-flourishing real estate landscape presents homeowners with golden opportunities to optimize their property’s value.

Grasping the True Worth of Your Property

In the North Park real estate market, several factors influence a home’s value. These include its geographical position within the neighborhood, the physical features and condition of the property, and prevailing market trends. Appropriately pricing your property by considering these factors is critical in drawing potential buyers.

Staging Your Home for Sale

Preparing your North Park property for the market involves more than just a “For Sale” sign. It’s about making significant improvements, effective staging, and investing in professional photography to capture your home at its absolute best. The better your property looks, the more appeal it has to buyers, increasing your chances of receiving superior offers.

before staging a room — Vacant Living Room

The Relevance of an Experienced Real Estate Agent

When selling your home in North Park, especially an older one, selecting a knowledgeable and skilled real estate agent becomes crucial. A seasoned agent with hands-on experience in the North Park, San Diego market will provide critical insights, assist in setting the right price, and execute a robust marketing strategy for your property, along with great negotiating skills.

Why Hiring a Realtor Experienced in Selling Older Homes is Crucial

Older homes often come with unique challenges and distinct features that require special attention and expertise. From understanding the architectural style and unique features to navigating potential issues with older electrical systems or plumbing, a realtor with experience in older homes can better highlight the charm and character of your home while mitigating any drawbacks. They can also tap into a niche market of buyers who appreciate and seek out the charm of older properties.

Promoting Your Property for Maximum Exposure

Effective marketing is pivotal in ensuring your property is noticed by prospective buyers. This can range from online exposure via property listing websites and social media platforms to traditional methods like hosting open houses. The broader your marketing spectrum, the higher the chances of attracting lucrative offers.

Sealing the Deal: Negotiations and Final Steps

When interested buyers come knocking, it’s time for negotiations. At this stage, a seasoned agent proves invaluable. They guide you through the various offers, helping you secure the best deal. Once the price is agreed upon, they’ll also assist you in handling the necessary paperwork to close the sale seamlessly.

Selling Your Home In North Park Wrap-Up

Selling your home in North Park, San Diego, requires a blend of strategic planning, market comprehension, and effective selling strategies. By keeping these guidelines in mind, you’ll be well on your way to securing a top-notch deal for your property.

If you are considering selling your home in North Park, South Park, or surrounding areas of San Diego, contact the McT Real Estate Group. We are here to help you with the selling process so that you can achieve your Real Estate goals.

Is Fall the Right Time to Sell Your San Diego Home?

Between its gorgeous scenery, luxurious lifestyle, beautiful beaches, and many activities, it is no wonder that San Diego is called America’s Finest City. On top of that, San Diego’s warm climate makes the city beautiful every season. It is one of the most populous cities in California, and there are always potential buyers looking to buy a house. However, just as the seasons change, so does the house price market. So, which is the best season to sell your house in? Is fall the best time for you to sell? Of course, this is just one aspect that can influence your house’s price range. On top of helping you choose the best season for selling your house, we will discuss other essential things that can help you get the best price for it.

Prepare your home for selling

Before taking pictures of your house and listing it for sale, there are many things that you can do to beautify your home. This will not only increase your chances of selling it quicker, but it could also help you get a better price for it.

Improve the appearance of your home

Before selling your house, you want it to look as pretty and homely as possible. A fresh coat of paint is a perfect example of a way to do just that. Maybe you want to make your house stand out and use a more vibrant color. Or perhaps you would prefer a more calming color for your home? Whatever you choose, a fresh coat of paint will make your house much more appealing and eye-catching to potential buyers. You should keep your lawn and other foliage trimmed and your walkway tidy. If you really want to invest in raising your house’s value, you can check the state of your roof and floors. A leaky or worn-out roof or a creaky floor can negatively affect your house’s price range and potentially put off potential buyers. Here are some additional ideas on how you can improve your house’s appearance.

Green Bungalow with wood front deck and yellow door — A fresh coat of paint can help sell your San Diego home quicker.

Create a home officeSet featured image

San Diego is a large and prosperous city, and many people are moving there because of work. Many jobs have adapted to the coronavirus pandemic affecting everyone over the past several years. You could make use of this and refurbish one of the rooms in your house into a home office. Dedicated working space in your home would not only increase your chances of selling your home quickly but would also increase its value.

So, should you sell your house in the fall?

In general, the period when the San Diego house market skyrockets the highest and most buyers keep an eye out on listed houses in spring and summer. It is a beginning of a new year. The weather is getting warmer and better for moving, so people’s interest in buying a house is higher. However, this could also work in your favor if you are looking to buy yourself a new house.

First of all, if you plan on selling your San Diego home to relocate to a different location, make sure you know how to make an informed decision about potential moving costs. This will help you plan the budget, especially if you’re unsure how to calculate moving costs. If you plan to find a new home somewhere in San Diego, fall could be the perfect season. Because it is off-season, the house prices will be lower, and it will be much easier to find available moving companies for your moving day.

Additionally, since fewer people are moving at the time, it would also be much easier for you to find available moving companies, choose the best date for your move and reduce the risk of delays.

Don’t forget about relocation

Finding a good moving company is another crucial aspect of your moving process, and many people struggle to find the right movers or simply think every mover is the same. This often leads to people having bad moving experiences because they chose their moving company at random without prior research. For example, mastermovingguide.com is an excellent tool for finding professionals and ensuring you get the best moving services for your needs.

You should also keep an eye out for the weather before choosing your move day. Although San Diego’s weather is quite favorable throughout most of the year, check the weather forecast for rainstorms to ensure your move day will be as smooth as possible.

However you decide to make use of the seasonal shifts in the housing market, it is essential to be well informed and prepared in advance.

If you choose to sell your house in the fall

There are many things that you can do to get the best deal for your house. However, selling a house can be overwhelming, especially if you have little prior experience. This is why you should get a good and reliable real estate agent who will take care of the tedious and stressful aspects of home selling. This is especially the case when trying to sell a house in a place with as high of a demand as San Diego. Having a good agent will help you get the best deal for your house and have your house sold in the shortest possible time.

A good real estate agent will find the right buyer for your home much faster — Working with a Realtor

As a final note

As you can see, when the time comes to sell your San Diego home, it doesn’t have to be an exhausting task, especially if you are house hunting yourself in the meantime. Plan ahead and take your time. Hire professional help to take the load off your shoulders, and don’t be too impatient to wait for a better offer on your house. Good luck!

Buying and Selling a Home at the Same Time | San Diego

Buying and selling a house in San Diego at the same time can be a difficult process to pull off but not impossible. The dreaded property chain may wreak havoc and catch you off guard at any moment. However, buying and selling a home simultaneously isn’t a rare occurrence. Plenty of people do it! Of course, in an ideal world, you’d sell your house, release any built-up equity to utilize for a down payment, and then find your new dream home. In real life, things rarely go in that order. If you attempt to pull this off, there will undoubtedly be some overlap. That’s why, in this article, we will help you navigate buying and selling your home at the same time. So, stick around to find out some of our best tips for dealing with this situation.

Get A Home Valuation

The first step you need to take if you’re considering buying and selling your home at the same time is to have your property valued. Before you begin making arrangements to purchase a new house in San Diego, you must first determine the value of your current residence. To get a good understanding of your property value, you should call the local Realtor in your neighborhood and ask them to give you a home valuation.

Evaluate The Local Housing Market

Moreover, you should also evaluate the local housing market before you start. You’ll need to adjust your timing if you’re selling in one market and purchasing in another. Depending on the local real estate market, the time it takes to buy and sell might vary substantially. For example, according to local some real estate experts, the best time to sell your home in San Diego is in early April. This holds true in some parts of the County. Not as much in the metro neighborhoods of San Diego. On the other hand, the lowest mortgage rates for those looking to buy a house in San Diego are usually in December. However, this doesn’t mean you can’t buy or sell a home in San Diego during other months of the year if you feel like you’re ready to make that change.

Person holding a paint roller on a wall. — Before putting your home on the market, consider making a few cosmetic changes.

Prepare Your Current Home

If you’ve lived in your current home for a long time, you probably have no idea how much excess stuff you’ve accumulated over the years. So, take this opportunity to declutter and toss away everything you don’t want to take with you. Even if you’re weeks or months away from listing your home, it pays off to start getting ready in advance. For example, some people take this preparation phase to the next level by renovating parts of their house before listing it. While it’s debatable whether you should renovate your home before you sell, it’s always a good idea to make at least some minor adjustments.

Make a thorough inspection of the house for any significant flaws. Fix that hole in the wall. Repaint a room that has been painted in a bright hue with a neutral tone. This is part of the staging process and is a very important part of making your home more appealing to potential buyers.

Hire A Real Estate Agent

While you may think you can handle both buying and selling your home at the same time all by yourself, it may not be a good decision to do so. Sure, you may be able to, but you are most likely going to leave a lot of money on the table, you may not make it to closing and your stress level will be through the roof by the end of the transactions. That’s why it’s best to contact a professional who can help you sell your current home AND find your dream home. A real estate agent familiar with the neighborhood and market will price the house correctly so that it does not go unsold for weeks on end. They will also let you know if the home you’re looking at is overpriced based on current and past data. Generally speaking, hiring a real estate agent can help you save a lot of time and effort.

A real estate agent touring buyers around the house. — Hire a real estate agent who will help you sell your current home and buy your dream home at the same time.

Start House Hunting

Think of all the attributes you want your new home to have and write them down. Make a list, and don’t forget to include the things you want to have in the neighborhood. For example, if you have kids, you probably want to have a good school nearby, along with parks and playgrounds where they can play. Or, if you’re a young professional, you might be looking for a neighborhood with a great nightlife that’s also close to your office. In that case, be sure to have your real estate agent schedule viewings in all the best neighborhoods for millennials in San Diego.

Think Of Temporary Living Solutions

If you end up selling your home before you buy a new house in San Diego, you need to figure out a temporary housing situation. Your best option is probably to rent an apartment where you can live until you sign the papers for your new home. The biggest problem with this is that you’ll have to move twice. You will either live out of boxes for some time, or you’ll have to go through the trouble of packing and unpacking and then packing everything again. However, many would still prefer that over picking a home that’s not right for you simply to speed up the process.

When it comes to moving and packing, there are a few ways you can make moving two times in a row more simple. You should start by decluttering before you pack. That means you should get rid of absolutely everything you don’t need. Throw it away, donate it, or sell it; just don’t keep it if you don’t use it. The fewer belongings you own, the less stuff you need to pack and move. Then, you should approach packing strategically. For example, if you plan to move in the summer, you can pack all your winter clothes together so that you don’t have to unpack them until you move to your new home. Finally, by picking out sturdy boxes and labeling all your stuff, you can prevent any potential mishaps or mixups.

A couple carrying boxes — When packing for the move, don’t rush it – take time and make smart choices.

Final Thoughts

If you’re thinking of buying and selling a home in San Diego at the same time, you will first need a lot of patience. You will also need a great real estate agent to help you navigate this process. If you’re staying in the same city, work with one real estate agent. They will help you list your home and price it correctly while also helping you find your dream home.

Contact us at 619-736-7003 and let us help you with the buying and or selling of your home in San Diego.

4 Things to Do Before Hiring a Real Estate Agent

A skilled real estate agent like Mary McTernan from McT Real Estate Group can make or break your buying and selling experience, but it’s up to you to do your due diligence before hiring a pro, let alone making a formal agreement. Keep reading for tips for first-time homebuyers and sellers about the process and outcomes.

Buyers should speak with a lender first to determine their budget, while sellers should get their house clean and clutter-free. But that’s just the tip of the iceberg. Here’s everything you need to put on your to-do list so you can make the buying process as stress-free as possible.

Nail Down Financing

While the topic is somewhat debatable, most real estate professionals won’t even begin to work with you unless you already have a pre-approval letter for a mortgage. Along with determining how much you can afford, this will also indicate your interest rate. Not to mention, sellers will take you more seriously.

Getting a Mortgage — Mortgage application

You’re going to want to speak to several lenders before making a decision. Ask key questions such as:

● What type of loan is best? A good lender will gather enough information on each and explain the pros and cons.
● What are the interest and annual percentage rates?
● What are current Federal Reserve mortgage interest rates?
● What are the discount points and origination fees?
● What is the estimated loan cost and can the rate be locked?
● Is there a repayment penalty?
● How much time is needed to acquire funding?
● Are on-time closings guaranteed?
● What are all of the costs?

Assess the Competition

Not only does visiting other open houses in the area help you determine what you can afford in the area, but it’s also a great way to see other agents in action — you may even decide that one of them is right for you. It’s also a good way to get a feel for the neighborhood.

Know What You Want

You’re going to want to have a solid idea of what type of home you’re looking for before speaking with an agent so there aren’t any crossed signals. Some factors to consider are what type of floor plan will fit your needs (i.e., number of rooms, flow, views, etc.); type of neighborhood, amenities, and conveniences that are of importance to you; the type of home; whether or not you plan on staying for the long-term; and, of course, budget.

Interview Potential Candidates

Don’t be afraid to ask detailed questions as their responses will only help you select the right agent for you. For example:

● How will you market my home?
● What’s your ratio of buyers to sellers?
● How many homes are you currently handling?
● What’s the average number of days your listings are on the market?
● How long have you been in business?
● Are you full-time or part-time?
● May I see your references and business license?
● How do your fees work?
● Will I be working with you or a team?
● What do you believe will sell this home?

As a buyer, completing tasks like getting your finances in order, visiting open houses, and brainstorming what you want in your home before interviewing real estate agents will make the process go so much smoother. If you’re a seller, opt to make your home presentable before interviewing agents. Completing these tasks as either a buyer or seller helps you and your realtor hit the ground running and will get you into a new home or sell your current home in no time! And for the best possible buying and selling results in the San Diego area, work with skilled and experienced real estate professionals from the McT Real Estate Group 619-736-7003.

Which Realtor Should I Work With?

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.

Selling Your House in San Diego the Fall

Selling Your House Fall — Selling Your House in the Fall

The McT Real Estate Group would like to share our Fall Guide to Selling your House in San Diego in the Fall. It is full of great information about the current San Diego Real Estate market that we are in right now. We have all heard about the Real Estate Inventory Nationally being at an all-time low. This news has been everywhere, but here you can get into the nitty-gritty.

In this Sellers Book, we talk about why buyer demand continues to outpace the inventory and what you, the seller, can do with this. We go over “Supply and Demand” and what this means for a seller. We also talk about the benefits of prices still rising.

Typically when inventory is low, interest rates tend to go up, but this is not the case as of today. With this being said, this benefits both the buyer and the seller. It means that the buyers’ purchasing power is still relatively high. Download your “Free Sellers Book” here. Once you read it and have any questions, feel free to email us or call us right away at 619-736-7003..

Download Book Here!

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

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.