5 Reasons to Try an Off-Market Listing

If an open-market sale doesn’t appeal to you, why not list privately? There are five reasons sellers should consider doing an off-market listing.

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Today I’ll be listing the top five reasons to do a private, or off-market, sale when putting your home on the market.

1. Privacy. If you’re doing a private sale, you won’t have to deal with random strangers coming through your home in broker tours or buyer showings. A private sale also prevents your listing from appearing online. If you don’t want photos and information about your home floating around the internet, a private sale can be a great option.
2. Pricing confidentiality. When you list your home privately, you don’t have to worry about everyone knowing how much you’re asking for. An off-market sale allows the details of the transaction to be kept between you and the buyer. 
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An off-market sale allows the details of the transaction to be kept between you and the buyer.

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3. Private sales can be just as profitable. Off-market listings can often net just as much as their open-market counterparts. Yes, you may not get multiple offers because not as many people know about your listing, but there could be a buyer out there who really loves your property and would be willing to pay a premium. 
4. Private sales can make for an easier transition. If you need to purchase a new home as you sell your current one, a private listing can remove some hassle. 
5. Fewer listing expenses. Putting your home on the open market costs you money. An off-market sale allows you to sell your home as-is. 

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Why Zillow Shouldn't Be the Place to Get Your Home's Value

Are you looking to determine the true value of your home? Don’t trust Zillow to do that for you. 

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Everyone knows what Zillow is; it gets millions of clicks every day. Everyone goes there to figure out how much their property is worth or to look for houses, but there’s a problem with that. Those home values aren’t always good. Their estimates are based on tax records or recent properties that have sold, and that information could already be dated and therefore inaccurate.

One of the things that Zillow will never know is the exact condition of a home. Zillow doesn’t know if you’ve updated the kitchen or the bathroom, or if the inside has been remodeled, and won’t be able to count for that value. They only base the value on the tax records and square footage.

So let’s say both you and your neighbor’s houses are 2,000 square feet, but your house has been updated on the inside and your neighbor’s has not. Since Zillow hasn’t seen the inside, you may see the same value for both houses, even though yours should be valued at a higher price.

Additionally, the estimates are inaccurate because Zillow uses old data that may be lagging behind by three to six months. The estimate tool on Zillow is more of a starting point. It gives you an idea of what your home might be worth but ultimately, you have to talk to your Realtor to get your home’s true value.

The estimate tool on Zillow is more of a starting point.

Have your Realtor go out and compare properties that are on the market now, not look at stuff that was sold three months ago. Have your agent talk to you about what’s selling right now. Zillow will never know what the price is in this current market.

If you don’t believe me, do a little bit of a research. In fact, there’s a woman in Illinois suing Zillow over their estimate feature, and people are jumping on this thing. It’s turning into a class action lawsuit because of how inaccurate this estimate feature really is. Sit down and talk with your Realtor so that you can be sure that the value you get for your home is correct.

If you have any other questions about this topic or you’re looking to buy or sell a home, give me a call. I’d be happy to help!

To Remodel or Not to Remodel Your Home Before Selling It

Ideally, you should only remodel your home before listing it if you have the budget and time frame. However, there are also certain situations where you’re better off not updating it.

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Should you remodel your home before selling it?

Unfortunately, there is no hard and fast rule to answer that question. If you have the time and the budget, though, I say go for it. Typically, the more money you put into a remodel project, the more money you get back when you sell your house.

Bathrooms and kitchens are the two most important rooms to focus on for remodeling because they only take a month or so to upgrade and they generate the biggest return on investment. In San Francisco especially, they can generate a return of almost 200%. That means if you invested $10,000 in either area, you would get back $20,000 or $30,000 easily.

You should also consider investing in an outdoor living space. If you have a backyard, you could add a deck or build some decking material. I’ve seen this addition generate a return as high as 300% and even 400%.

Make sure you have the budget and time frame before remodeling your home.

Lastly, consider painting as part of your remodeling. You can improve your curb appeal by painting the exterior of your home. On the inside, people love colors that are warm and neutral. It will likely cost you a couple thousand dollars, but you get so much more in return. We’re already into the selling season, so if you could remodel your home now and put it on the market in May, that would be fantastic.

Is there ever a situation where you shouldn’t remodel your home, even if you have the budget? Yes.

If your home is in terrible shape or it’s a fixer-upper and you’re in the type of market where people are looking for fixer-uppers to buy, don’t bother. If you were to try to renovate the place on your own, it may take as long as an entire year. By that time, the market might shift on you. Like I said, we’re in a seller’s market, so you want to put your home on the market now instead of waiting a year and seeing what happens.

If you have any questions about this topic or are looking to buy or sell a home in our market, don’t hesitate to send me an email or give me a call. I’d be happy to assist you.

What Should You Look for in a Multiple Offer Situation?

What does a good offer look like? There are three things you should look out for if you’re receiving multiple offers.

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There are three things that sellers should keep an eye out for when deciding between offers in a multiple offer situation:
 

1. Terms. Look at what kinds of terms are on the contract offer. Are they doing an inspection? If so, how long is the inspection contingency period? Anywhere from seven to 14 days is normal. Any longer than that is unnecessary.
 

2. Disclosures. When you sell a property, you will have to fill out disclosures to present to the buyer to know if there are any issues within the house. The buyer should sign off on these disclosures when they make an offer. It minimizes the chances of them coming back with a problem with the home that they didn’t know about before.

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These items will give you a better idea of what to look for.

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3. How strong the buyer is. To find that out, have your agent contact the buyer’s lender and talk to them directly to discuss things like their down payment, credit history and score, and more.
 

All of these items will give you a better idea of what to look for when selling your home. If you have any other questions for us or are looking to buy or sell a home, give us a call or send us an email. We look forward to hearing from you.
 

5 Staging Tips to Increase Your Home’s Sale Value

Today we’re discussing the top tips for staging your home. Homes that are staged and show well almost always sell faster and for more money.
 

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Today we wanted to talk about a special topic when it comes to getting your home ready for the market: Staging.

To start, remember to think about creating a great first impression. When a potential buyer sees your house for the first time from the outside, you want to make sure it’s freshly painted, is clean, and looks welcoming. You’ll never get another chance to make a first impression, so make sure everything looks clean and fresh.

Secondly, make sure your home is always show-ready. Buyers might want to see your home at any point throughout the day, so make sure the blinds are open to let light in. At night, make sure all your lights are turned on as well. Get rid of clutter, because nothing is worse than your home looking smaller because there’s clutter everywhere.

Thirdly, be sure to focus on your kitchen and bathrooms. These two rooms are very important, so much so that many times, you’ll get more money back than what you invest in them. Statistics show focusing on the right updates can return 200% on your investment with things like painting the cabinet doors and replacing the fixtures and hardware with more modern steel or chrome.

Upgrading your kitchen and bathrooms can net you a 200% return on your money.

For example, I recently had a client who sold her condo that was built in the 90s. The fixtures were outdated and the cabinets were worn out, so all she had to do was paint the cabinets and add some new chrome fixtures. She also replaced the backsplash. Thanks to these simple items, we sold her condo for top dollar and even set the new high comp in the building.

Next, make sure your house is free of personal and family photos. When buyers come in, you want them to focus on the space, not your photos.

Finally, keep your home free of pet accessories. Dogs and cats are wonderful and cute, and most people love them. However, some buyers are very picky or they might be allergic to animals. Get rid of these things so buyers don’t have to worry about them or focus on a smell or dander that could trigger their allergies.

If you have any other questions about staging your home or anything else related to preparing your home to sell in San Francisco, give me a call or send me an email soon. I’d be happy to help.