Is This a Good Time to Sell a House in San Diego?

Thinking of making a move and wondering is now a good time to sell my house in San Diego? Well, based on recent data we can confidently say that now’s the best  time to get started! According to experts, the ideal week to list your house is fast approaching. Based on a recent study by Realtor.com analyzing housing market trends (excluding 2020 due to its uniqueness), the prime window to put your house on the market this year falls between April 14th and April 20th.

“Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that is, if sellers want to see lots of interest in their homes, sell quickly, and pocket some extra cash, according to Realtor.com® data.”

And if you’re considering selling your house in San Diego, this timing could be even more advantageous. With its vibrant real estate market and desirable neighborhoods like North Park and South Park, there’s no better time to showcase your property’s potential and attract eager buyers. So don’t wait any longer – seize the opportunity and kickstart your selling journey today!

This is important for sellers because the spring market is always a good time to sell, but right now might be the best time. If you’ve been delaying your plans and waiting for the perfect moment to take action, this could be the push you’ve been waiting for. According to Hannah Jones, a Senior Economic Research Analyst at Realtor.com,

“The third week of April brings the best combination of housing market factors for sellers. The best week offers higher buyer demand, lower competition [from other sellers], and fewer price reductions than the typical week of the year.”

 

Selling Your House with Expert Guidance

Now, If you’re eager to dive into the real estate game and if you keep asking yourself if this is a good time to sell a house, acting swiftly and working with local expert help is key. Your local real estate agent is your ultimate ally in crafting a strategy to ready your home and set it up for success on the market. They’ll provide invaluable guidance on aligning your desired listing date with necessary repairs and renovations. Plus, they’ll outline a clear roadmap for prioritizing tasks, ensuring you tackle the most impactful items first.

For instance, if your home is already in good condition, you can hone in on quick, high-impact fixes. As highlighted in an Investopedia article:

“You won’t have time for any major renovations, so focus on quick repairs to address things that could deter potential buyers.”

 

Check out these examples from the article:

Taking Care of Quick Repairs Infographic
Taking Care of Quick Repairs Infographic

No worries if you’re not quite ready to sell your house in the next few weeks. The opportunity isn’t going anywhere once this week wraps up. Spring is prime time for buying homes, and sellers like you hold all the cards during this season.

If ever you’re ready to take the next step? Let’s connect and discuss your plans further. We’re here to help you navigate the vibrant San Diego real estate market with ease. Whether you’re selling your house in North Park, South Park, or any other neighborhood in this beautiful city, the McT Real Estate Group is your trusted partner. With our proven track record of success, we’ll work tirelessly to exceed your expectations. Don’t wait any longer – reach out to us today, and let’s make your real estate goals a reality!

Buying a Home in San Diego: Is Now the Right Time?

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
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.

Woman Using a Calculator
Woman Using a Calculator

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

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
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

Inflation and San Diego’s Housing Market

Have you ever found yourself sipping on your morning coffee, pondering about the ripple effect of inflation on San Diego’s housing market? It might sound like a deep dive for a casual thought, but believe it or not, these two subjects are tightly woven together. Just like a dance duo per se, when one takes a step, the other is sure to follow—and vice versa. So, grab that coffee, perhaps a comfy blanket, and journey with us. We’re going to untangle and demystify this intricate relationship, breaking it down piece by piece for a clearer picture. Let’s get started, shall we?

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.

Shelter Housing Pulls Back Chart
Shelter Housing Pulls Back Chart

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 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

In response to surging inflation, the Federal Reserve took action by tweaking the Federal Funds Rate. This isn’t just any rate; it’s the heartbeat of our banking system, setting the pace for how much banks charge each other when they lend and borrow funds. As the inflation juggernaut marched on, the Fed stepped up, raising the Federal Funds Rate in a strategic bid to keep our economy on an even keel. Now, if you’re a visual learner like many of us, take a gander at the graph below. The blue line paints a picture of inflation’s trajectory, while the orange line gives you a play-by-play of the Fed Funds rate adjustments.

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’re considering dipping your toes into the investment pool, pondering over buying or selling a cherished home, or merely aiming to stay updated with the latest real estate trends, now couldn’t be a more opportune moment to chat. San Diego’s property landscape is ever-evolving, and a seasoned perspective can make all the difference. Don’t hesitate to connect with the McT Real Estate Group. We’re not just in the business of real estate; we’re passionate about helping our San Diego neighbors make informed decisions. So, whenever you’re ready, give us a shout. We’re here, eager and happy to assist!

Home Price Growth: Resurgence of Seasonal Trends

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 office

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.

A desk at a home office
home office

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

Realtor handing keys over

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 home buyers and sellers about the process and outcomes.

two people shaking hands

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 at 619-736-7003.

 

Which Realtor Should I Work With?

Ways to Increase Your Home Value in San Diego Before Listing It For Sale

When it comes time to sell your home in San Diego, you can take several steps before listing it with a Realtor to increase your property’s value. And, to also leave you with more money in the bank. Below, we’ll discuss a few of our favorite options.

Address its Curb Appeal

We all know that we shouldn’t judge a book by its cover, but when it comes to new home buyers, it’s hard not to! The exterior should encourage prospective buyers to enter the home, so it’s a great idea to address the landscaping, paint coat, and ensure that the front door isn’t chipped. The driveway is also important, as a poorly maintained driveway won’t leave perspectives with a good first impression of the upkeep of the property. 

image of North Park Craftsman House located at 3051 Redwood Street
front of North Park Home for sale

 

Maintain the Roof and Siding

Replacing a roof can cost a pretty penny, but a roof that’s falling apart is going to turn homebuyers off. Thus, before you place your home on the market for sale, it’s important to repair the roof as necessary. Roof maintenance right before you sell your home will not only improve the resale value but will also prevent home inspection issues and avoid a point of negotiation with potential buyers. For the siding, ensure that stucco or rustic siding is also properly maintained to prevent the buyer from seeing it as a future cost.

Remodel the Kitchen or Bathroom

Kitchens and bathrooms can greatly increase the value of the home and are also essential spaces in a buyer’s first impression. You will want to weigh costs, but in most cases, minor renovations will pay off immediately. Especially if you have outdated appliances or old countertops, quick renovations will instantly upgrade the feel of the space and make your home more attractive to prospective buyers. You will also want to address the countertops, as they’re the focal point of the area. Consider quartz countertop colors that’ll complement your wall color nicely. 

Make your Home Low Maintenance

Buyers consider maintenance costs when looking at properties. If you have a roof, furnace, or HVAC unit that is nearing the end of its life, repairing or replacing it before selling can help soothe buyer’s fears about looming repairs. You can also invest in making your home more energy-efficient, as energy conservation features can make a home much more valuable. This investment could look like anything from solar panels to LED lighting or more efficient heating and cooling units. 

Aging in Place Renovations

Aging in place renovations are something to consider if you live in a neighborhood that is conducive to families and older living such as North Park and South Park. Additions such as a lowes handrail, or a shower with a seat can add great value.

Repair the Siding

Repairing damaged or worn siding before selling your home can make a significant difference. Siding protects your home from the elements, and visibly deteriorated siding can deter buyers who want to avoid costly future repairs. When it comes time to repair, a fiber siding, such as rustic siding, will add to the curb appeal as well as the functionality of your property. 

Whether you’re looking to sell your home in North Park, South Park or surrounding areas in the near future or further down the line, these renovations will help you increase your home’s value before it even hits the market!  But, before you do anything else, contact the McT Real Estate Group at 619-736-7003, the local Real Estate Experts. Together, they will come up with a plan of action that will help you receive the highest return on your investment.

Homes for Sale in North Park

Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.

Decisions Seniors Make When Downsizing Their Home in San Diego

3364-66 A Street

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.

 

 

 

 

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Z.McT-Contreras
Mary McTernan
2307 Fenton Pkwy, Ste 107,
San Diego, CA 92108
TXR Homes Inc.

619-736-7003

info@mctrealestategroup.com

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