San Diego Real Estate and Community News

Aug. 7, 2018

5 Reasons to Hire a Real Estate Professional Before Entering the Market!

 

5 Reasons to Hire a Real Estate Professional Before Entering the Market! | MyKCM

Whether you are buying or selling a home, it can be quite the adventure. In this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO,’ but it’s not as easy as it may seem. That’s why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal!

The 5 reasons you need a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates and home prices as the market continues to pick up steam.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. So you found your dream house, now what?

There are over 230 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you achieve your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyers (who want the best deals possible), to the home inspection companies, all the way to the appraisers, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start in order to attract the right buyers and shorten the amount of time that it’s on the market. You need someone who is not emotionally connected to your home to give you its true value. According to a recent article by the National Association of Realtors, FSBOs achieve prices significantly lower than the prices of similar properties sold by real estate agents:

FSBOs earn an average of $60,000 to $90,000 less on the sale of their homethan sellers who work with a real estate agent.”

Get the most out of your transaction by hiring a professional!

5. Do you know what’s really going on in the market?

There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

You wouldn’t replace the engine in your car without a trusted mechanic, so why would you make one of the most important financial decisions of your life without hiring a real estate professional?

July 20, 2018

Luxury Auction Success Story

 

Oceanside Victorian Was On Market for 500+ Days Until Michael and Harcourts Auctions Team Came to Town

With its historical charm and modern build specifications this Victorian jewel sat on the market for over 500 days with another sales agent. They were only able to produce a handful of showings and no offers before Michael Chaconas offered his services and made it an auction property.

Immediately the viewings jumped to over 100 and the offers came in and with the navigation of Michael Chaconas the property sold 2 days before auction above the prior listings asking price.

 

"Our accelerated marketing platform also known as Harcourts Auctions has a success rate of over 92%" Michael says. " Most of our listings sell 56% of the time prior to the Auction day."

"We give our Sellers complete control over the multiple offers our process brings to the table. There is no room for negotiating over any reports, be it home inspections, termite or appraisal reports. This allows our escrows to have a much more higher success rate than other brokerages can provide for. Simply put, there is no deal unless our Sellers say so."

 

Posted in Selling Your Home
July 6, 2018

Rare Discovery Hills Single Story

OPEN HOUSE Discovery Hills Sunday July 8th 12-2

 

Completely redone and ready to move in! Fantastic family oriented neighborhood!

Open floorplan living area is full of natural light from a wall of windows and a large slider, the kitchen has brand new subway backsplash, granite counters, recessed lights and a great view of the yard.

3 bedrooms and 2 baths, wide open living area with reclaimed barnwood accent walls. High end laminate wood floors throughout are 5 months new!

The newly landscaped front is lush and inviting, the backyard perfect for celebrations of every kind. You even have your own little getaway in a finished shed, great for office/she-shed or the man-cave!

The neighborhood is blocks away from Discovery Lake great for kids or an evening stroll. Single level living at it's best!! Kaiser close, easy access to 78 freeway, close to Cal State San Marcos!

Posted in Real Estate News
June 14, 2018

SAN DIEGO REALTOR CURRENT MID YEAR MARKET FEEDBACK

SAN DIEGO REALTOR CURRENT MID YEAR MARKET FEEDBACK
WHAT DO RECENT SAN DIEGO REALTOR CARAVAN/UPDATES REVEAL?
The underlying general trend is in line with our 2nd Quarter Forecast and Analysis. And that is; 
  • With rising rates we see more properties coming on to the market. This is causing more competition for less buyers struggling to afford buying at higher interests rates.
  • Higher end listings are lowering their asking price. Properties in the millions are now seeing other listings join the market, causing a longer marketing experience ending up in reduction of sales price or expiration/cancellation of the listing with No Sale.
WHAT CAN BE DONE? CHANGE YOUR STRATEGY
With more competition and less buyers we recommend that potential Sellers differentiate the offering to the Marketplace. Simply put, think out of the box and rethink real estate in general. 
The definition of insanity is doing the same thing over and over again and expecting a different result.
IS YOUR PROPERTY GOING TO BE SEEN BY POTENTIAL BUYERS? IF SO, HOW MANY?
We see that most potential Sellers may not be advised as to where the market is and some agents are so weary of losing a listing they fail to advise of current Market Trends properly.
The proof is in the graph below.
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The Impact of Price Visibility cannot be denied. Even if a Property were priced at Market Value the National Association of Realtors report that the Property would only attract about 60% of potential buyers.
Just think this through a bit. With more competition and even IF priced at Market Value you may get 60% of ALL the Potential buyers out to your residence.
Sellers Should Ask Themselves;
  • Will my Realtor be able to make my property standout in a competitive crowd?
  • Will my Realtor market my property in a way that it has the best chance to receive Market Value offers?
With our 92% Accelerated Marketing Plan we guarantee you will maximize your properties viewing ability.
And at the end of our process you will have a market value indicator of what your property is worth. Either in the form of offers that you accept or do not accept.
At the end of the day our process puts you in control.
Call me today at 760-571-9090 to discuss.
Posted in Selling Your Home
May 22, 2018

If You Need to Sell Before You Buy READ THIS

So what does a Seller need to do to successfully navigate selling their home and purchasing another?
1. Resist just looking for the home you desire as your starting point.
 
Why? Looking for a new home is challenging enough without adding to the level of frustration you may encounter when you finally find the home you want and are not able to convince the seller of that property that you are able to sell yours in time. Simply put, you WILL NOT be a strong contender in a very competitive market to secure an accepted offer. Not many people can afford to buy a second home but they will do the following.
2. Choose an agent with knowledge of the Seller's neighborhood and their desired new location. 
Why? Any agent can send over what has happened in any neighborhood but a skillful agent can tell you what should happen for YOUR home and the desired home, based on trend analysis and market desire. Things like Days on Market,  Motivation to Sell and List Price are all significant factors that will position you and your needs competitively in order to attain your specific outcome.
?3. List it right. Don't wait!
So now you know which action you need to take in order to get the ball rolling. Listing your home 
"
traditionally
"
 is somewhat easy in today's marketMost agents will promise you an initial higher than market list price that may not be realistic and then spend days and weeks lowering that list price until a Buyer may notice. This causes tension and tells the market your price is coming down. Just wait. Right?
 
Listing it right means at a price point that will attract potential buyers. This causes an interest level that puts your property on the radar of over 90% of all buyers. My last non-distressed auction property had an initial MLS list/bid price of $700,000. With over 100 parties through the door and 6 offers on the table we sold it at $875,000. The prior agent had it listed "traditionally" for over 500 days at $860,000 with only a handful of viewings and no offers. Trust the process as it will deliver to you either a market value at its conclusion or that and a sale.


4. Harcourts Exclusive Accelerated Marketing Platform of Non-Distressed Auctions Puts YOU in Control of Your Selling and Buying Process. He are some key points to our success;
 
·Our  process  has  a  92% success  rate  in  an  average  of  30  days  on  the  market.
·This  globally  recognized  Auction  platform  has  been  developed  successfully  over  130  years  and  is  taking  Southern  California  by  storm.
·A  shift  in  marketing  strategy  drives  buyer  motivation  and  increased  showings  through  your  home.
·70%  of  our  homes  listed  through  this  platform  have  been  previously  listed  or  expired  listings.
·All  reports  and  disclosures  are  handled  up  front  to  ensure  smooth  escrow.
·A  full  Auction  management  team  to  assist  the  agents,  buyers  and  sellers  through  the  process.
·There  may  be  a  chance  that  your  property  has  LIVE  BIDDING  in  a  live  auction  setting-  how  exciting  would  that  be! We have a Live Event once a month in Del Mar. Interested?
·Our  aim  to  achieve  market  value  or  above!    Our  success  rate  says  it  all.
 
Definition  of  Insanity-  Doing  the  same  thing  and  expecting  a  different  result.
 
I  am  looking  forward  to  sharing  more  information  with  you!   
Don’t  waste  anymore  time.    
 
Give  me  a  call 760.571.9090 

Posted in Selling Your Home
March 29, 2018

Why Sell At Action?

 

REASON #1

ENSURING THE HIGHEST VALUE

At Harcourts Auctions, we are dedicated to ensuring you achieve the highest value possible. Our auction process means potential buyers don’t have a list price; all they know is your beautiful property is for sale and will be sold on a particular date.

 

REASON #2

VALUE OVER PRICE

Auctions shift the buyers’ focus from price to value. Without knowing the price, potential buyers can focus on what the property itself has to offer. We don’t get paid until we sell your property, and we don’t sell your property until we reach a figure you like.

 

REASON #3

YOUR TIMELINE, OUR PROCESS

The auction process allows you to set your own date and a timeline. No waiting around, guessing when your property will sell—or not sell.

 

REASON #4

YOU CALL THE SHOTS

We conduct auctions with a reserve price. We don’t believe in underselling, and we believe the sale of your property is your decision. We allow you to accept any offer prior to auction day and let you set a reserve price. In other words, you choose the minimum price. If bidding doesn’t reach your minimum, you’re under no obligation to sell.

 

REASON #5

PAPERWORK COMPLETED PRIOR TO AUCTION

An auction sale is a clean, simple, and non-contingent contract. The buyer must complete all due diligence before auction day. When auction day comes, you know who is bidding and for how much.

 

REASON #6

ALWAYS IN THE LOOP

When selling your property via traditional means, you are often removed from negotiation and kept in the dark about offers. At auction, you can see everyone interested; they are standing in your front yard. No secrets. No surprises. No stress.

 

REASON #7

LEARN WHAT BUYERS WILL PAY

Sometimes auctions don’t result in a sale before auction or on auction day. This doesn’t mean your property or the process has failed. Instead, it means you know exactly how much buyers are willing to pay. Your property’s reputation remains intact because you haven’t advertised your list price. It’s a win-win situation. We don’t stop working until your property is sold. We’re with you every step of the way.

 

FIRST THINGS FIRST.

PRICING YOUR PROPERTY.

Pricing a property can sometimes feel like a guessing game. How do you know the right price? What if your list price is too high? What if no one is interested? What if your list price is too low?

 

Typically, your agent will suggest you lower the list price, hoping this will encourage more potential buyers. Do you want buyers to simply look at your home based on price? Do you want them to look at your home because they think they can get a bargain or because they see the true value in your home?

 

See the Video Why Sell at Auction 

Posted in Selling Your Home
March 22, 2018

Freddie Mac Says Rising Mortgage Rates DO NOT Lead to Falling Home Values

Just recently, Freddie Mac released a report titled Nowhere to go but up? Nowhere to go but up?How increasing mortgage rates could affect housing. This article really dealt with the impact that rising mortgage rates will have on real estate for this year.

So-called experts think that an increase in rates will cause a slow down in buying homes which would lead to a fallen house values. However prices are calculated almost exclusively by supply and demand and while rising rates may slow demand, they ultimately affect supply.

And I quote from the report:

"For current homeowners, the decision to buy a new home is typically link to their decision to sell their current home... Because of this link, the financing cost of the existing mortgage are part of the homeowners decision of whether and when to move.

Once financing cost for a new mortgage rise above the rate borrowers are paying for their current mortgage, borrowers would have to give up below-market financing to sell their home. Instead, they may choose to delay both the sale of their existing home and the purchase of a new home to maintain the advantages financing."

The report goes on to talk about this occurrence, it concluded that prices are not adversely impacted by the higher mortgage rates. It goes on:

"While there is a drop in the demand for homes, there is an associated drop in the supply of homes from the link between the selling and buying decisions. As both supply and demand move together in this way they have offsetting effects on price... lower Demand increases price and lower Supply increases price. They went on to reveal that the Freddie Mac National house price index is...

"... unresponsive to movement in interest rates in the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constraints apply and continue to put up with pressure on home prices."

If we look at the chart below based on data from the report, it shows what happens to home prices the last six times mortgage rates rose by at least 1%.
Impact on Home Prices last 6 times Rates Increased by 1% or More
The Wrap Up

If you are either a buyer, seller or both, sitting on the sidelines waiting for things to fall makes no sense at all.