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."
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.
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.
"y"is somewhat easy in today's market. Most 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.
·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
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.
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.
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.
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.
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.
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.
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?
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 you are either a buyer, seller or both, sitting on the sidelines waiting for things to fall makes no sense at all.