No Comments

It’s November in Palm Springs: Election, Covid, Home Prices – Oh My!

Home Prices, Election, Covid-19, Oh My!

It’s been quite a November and we’re only 13 days into it.

Many of us thought after November 3rd the Democrats and Republicans would stop their constant fighting and we’d know who the Presidential candidate would be sworn into office in January. To add to our worries, Covid-19 high positivity rates smacked us again.

But there is a bright light in our housing market.

People from around the country are buying homes where they’ve been vacationing. They’re buying homes in leisure destinations as permanent residences and as secondary homes. Our Palm Springs area is one of those destination hotspots.  And we locals know why; weather, beautiful scenery, lifestyle, and fabulous homes at fantastic prices.

2020 has proven to be a very big year in the real estate market in the Coachella Valley. Buyers who had been waiting for “the right time” to purchase a home found this year to be that right time.

Our residential inventory is still very low in all prices points, with the exception of the uber high-end properties. If a property is priced correctly, based on its location, sun exposure, floor plan and other factors in its community, it will sell – and sell quickly. But even in this hot market, sellers must remember that buyers set market prices, not sellers. It is a sellers’ peril if they disregard this reality. If they do, they won’t sell their homes.

As we approach the holidays, realtors would generally see a slight slowdown before our January to April active season. However, since Covid-19 people keep streaming into the desert searching for their ‘desert dream home’.

There’s been a huge surge of sales in the detached home market.  In the past 1-1/2 months, home sales experienced a 39.3% increase year-over-year. The average home sale is a tick over $600,000.  In the $700,000 to $800,000 price bracket, sales increased 96%. In the million-dollar and over price bracket, sales went from an average of 45 units to over 110 units a month, an increase of 144%.

Entry level homes priced between $250,000 to $350,000 are very hard to find. If a single-family home comes on to the market in this price range, it won’t list for long. In this price range it’s easier to find a condo.

With the start of our selling season, we anticipate seeing more homes hit the market, which may ease some of the upward pressure on home sales.  However, as with everything else this year, nothing is running its usual course.

Stay tuned.  Stay connected.

No Comments

Promoting Your Home to Sell in the Palm Springs area

Have you ever wondered what it takes to market and sell a home? In the “olden days” of real estate, the home would get listed in the classified section of the newspaper, and flyers and postcards would be mailed out. These days, however, require significantly more sophisticated ways of marketing homes for sale. In this video, Darlene Harwick, Realtor in the Palm Springs area, give tips about successful home marketing.

No Comments

5 tips to consider if you’ve been thinking about buying a home in a golf course community

Tip 1:

While living across the street from the fairways offers a homeowner additional privacy (no neighbor in front), it also provides a bird’s-eye-view to golfers – especially those wandering through your yard to retrieve balls. Choose your location within the golf community carefully. Homes along the right side, nearest to the tee box, are statistically at higher risk for wandering golfers searching for errant balls and the damage those balls can cause. You may want to play the course to help determine if the home you have your eye on is ideally located.

Tip 2:

I stress the importance to all homeowners interested in purchasing a home in a managed community to read the HOA documents thoroughly, it’s even more critical when considering a home on a golf course. Is netting prohibited? Are there rules against entering the course from your property?

Tips 3:

While golf participation throughout the country is stabilizing, and fewer courses are closing, keep in mind that it’s still a buyers’ market in many communities in this real estate niche. You are in the drivers’ seat, by and large, in negotiations.

Tip 4:

You don’t have to be a golfer to enjoy golf course living. In fact, it’s estimated that only about a quarter of residents who live on or near courses play the game. They purchased the home to enjoy the scenic view, the enjoyment of not having a neighbor’s home facing theirs and the peaceful evenings.

Tip 5:

If you do play, you may want to restrict your search for a golf course home for sale to communities that offer other amenities as well, such as tennis courts, walking trails, swimming pools.

Thinking of selling your golf course home?

Realtor.com analyzed listings of homes for sale in 273  U.S. counties. They found that those listings that included the word “golf” took, on average, 75 days to sell. These homes eventually sold for 14 percent more than the median sale price for the area and nearly 30 percent more than the nationwide median home price.

Of course, all real estate is local and markets change so the “mileage” here in our area may vary.  Feel free to reach out to me for a complimentary, no-obligation determination of your home’s likely market value.

 

No Comments

What Do I Do if My Home Doesn’t Sell?

There are a number of factors why a home doesn’t sell after it’s listed for sale.

The main factors that determine whether a home sells are its LOCATION, and PRICE compared to other similar homes on the market, and the MARKETING used to promote the home to prospective buyers.

If you want to know why your home didn’t sell, you should get feedback from previous agents who showed your home to their buyer clients to find out why they chose not to make an offer on the home.

You can use this feedback to make the necessary adjustments. For example, a home may not be in as good condition as other homes on the market for the same price. In this case, making some cosmetic updates and repairs can help get the desired price. In another case, the home may not have been represented well online in its marketing. For example, if professional photography wasn’t used in the marketing, prospective buyers may have gotten the impression the home was in poor condition.

I use the “3P Formula” for getting your home sold:

  1. Preparation – getting the right things ready so buyers will value your homes features.
  2. Price – pricing your home to avoid Limbo Land, a place where homes sit on the market indefinitely.
  3. Promotion – marketing your home to get your home found online and generate buyer interest.

I work with my clients to implement the 3 Ps and sell homes for higher, on average, than the typical real estate agent.

http://www.palmspringsvalleyhomes.com

 

No Comments

Serious About Selling? 5 Steps to Make Your Home the Best on the Block

We all want to be good neighbors.  But when it comes to selling your home, it’s not just about “keeping up with the Joneses.” It’s about outshining them at every opportunity!

If you’re looking to sell your home fast and for the most money possible, you’ll need a strategy to set it apart from all the other listings competing for buyers in your area. That’s why I’ve outlined a proven, five-step plan for serious sellers.

Use these five tactics to help your listing get noticed, win over buyers, and net a higher sales price than your neighbors!

STEP 1: Stage Your Home to Show Its Full Potential

The average seller will do the minimum to prepare their home for market: clean and declutter, fix anything that’s broken, mow the lawn.  And while those tasks are essential, today’s buyers want more than just a clean house and tidy yard. When they dream of buying a new home, they envision a designer house with modern finishes. Help them see your property’s full potential.

Home staging is one of the hottest trends in real estate – because it works! According to the Real Estate Staging Association, homes that are professionally staged spend 73% less time on the market.

So what exactly is staging? In a broad sense, staging is the act of preparing your home for market. The goal is to highlight your homes’ strengths, minimize any deficiencies, and help buyers envision themselves living in the space. When staging a home, you might rearrange the furniture to make a room feel larger or remove heavy draperies to make it appear brighter.

Some sellers choose to hire a professional home stager, who has specialized training and experience to maximize the appeal of their home to the largest number of potential buyers. Others may opt to do it themselves, using guidance from their agent.

I can help you determine the appropriate budget and effort required to push your home ahead of the competition in your neighborhood. The good news is, an investment in staging pays off. A 2018 survey found that 85% of staged homes sold for 6-25% more than their un-staged neighborhood homes.

STEP 2: Draw Buyers in with High-Quality Photos

You only have one chance to make a first impression with potential buyers. And many buyers will view photos of a listing before they decide whether or not to visit in person. In fact, 87% of buyers find photos “very useful” in their home search. Poor quality or amateur-looking listing photos could keep buyers from ever stepping through the door.

Since good photography plays such an important role in getting your property noticed, I  only work with top local professionals to photograph my listings. But I don’t just rely on their photography skills when it comes to showcasing your home.

I  go the extra mile to ensure your listing photos showcase the true essence of your home. I’m always on site during the photo shoot to help the photographer capture the best angles and lighting, and to let them know about unique or compelling selling features that they should photograph. The extra effort pays off in the end. In fact, listings with high-quality photography sell 32% faster than the competition… and often for more money.

STEP 3: Price it Properly From the Start

Even in a strong real estate market, there are homes that will sit unsold for months on end. This can be the “kiss of death” in real estate, as buyers tend to imagine that there must be something wrong with the property, even if it’s not true.

But why are those houses still on the market in the first place? It’s because they are often priced too high.

Every buyer has a budget.  And most will be viewing listings within a particular price range. If your property is overpriced, it can’t properly compete with the other houses they’re viewing that are priced correctly. Which means it’ll sit on the market until you’re eventually forced to drop the price.

Alternatively, if you price your home aggressively, it can be among the nicest homes that buyers have seen within their budget. This can lead to emotionally attached buyers, who are often willing to pay a premium or settle for few seller concessions. In certain markets, it can lead to multiple offer situation, or bidding war. The end result? More money in your pocket.

I can help you determine the ideal listing price for your home in the current market.  Pricing it properly in the beginning is the best way to ensure a fast and profitable sale.

STEP 4: Put on A Good Show at Each Showing

Once buyers are interested enough to schedule a visit, it’s critical that you put on a good show at each showing.

The first step is to make your home readily available – and often on short notice – for buyers to see it. A missed showing is a missed opportunity to sell your home. If you set too many restrictions on when it’s available to view,  busy buyers will simply skip over your listing and move on to the next one.

Part of making your home available means keeping it relatively show-ready as long as it’s on the market.  Most of us don’t live picture-perfect lives, and our homes reflect the day-to-day reality of our busy (and sometimes messy) families. But a little effort spent keeping your home clean, fresh-smelling, and ready for buyers will help it sell faster… which means you can get back to your regular routine as quickly as possible!

STEP 5: Use a Proven Promotion Plan

Most agents are still marketing their listings like what was used 20 years ago… put a sign in the front yard, put the listing in the MLS, and pray that it sells. Yet, we know that 93% of buyers search for real estate listings online.

That’s why I invest in the latest training and technology – to ensure your listing appears in the places where buyers are most likely to look.  My dual-level promotion strategy includes both pre-launch activities designed to seed the marketplace and post-listing activities to ensure your home stay top-of-mind with potential buyers.

By utilizing online and social marketing platforms to connect with consumer and offline channels to connect with local real estate agents, your property gets maximum exposure to prospective buyers.

LET’S GET MOVING

Are you thinking about listing your home? Get a head start on your competition! Contact me for a copy of my Home Seller Guide, which offers a complete guide to the home selling process. Or call me to schedule a free no-commitment consultation. I’d love to put together a custom platform to maximize the sales potential of your property!