+ Q: How much needs to be done to my house before putting it on the market?
There are some basics that must be done, but it should not a be a stressful process. My advice to home sellers is to start with a massive spring cleaning, declutter, get rid of all of things you have been meaning to get rid of. Repairs will come up after the Buyer does a formal inspection so you might as well have them done too, or they will want a credit. Paint over scratches, and potentially paint any rooms that are a bold color to a neutral soft color. Make sure all windows have screens, install smoke detectors, tighten anything loose etc. A good agent will guide you.
Making larger decisions like remodeling bathrooms and kitchens will come down to return on investment. Some home improvements have positive yields, some are break even and some are losses. See our article on Home Improvement ROI for a list.
+ Q: How much is my house worth?
While the median house price for sold homes in Linda Vista during the summer of 2017 came out to $1,485,782.00, your exact price will depend on a myriad of things including items that a Zillow Zestimate can never know (improvements made, repairs needed). Our emotional connection to our homes generally inflate the value in our minds, but when it comes down to it, what the market will pay is the true value. Agents can put together a Comparative Market Analysis (CMA) on your specific property. Click here to request one. A sound pricing strategy would be to set the list price below the true market value to encourage multiple offers.
+ Q: How is the housing market right now?
The answer to this is based on data so it is less subjective. We know there is a low inventory on the market, thus a high demand. Home values in Linda Vista are at a high Price Per Square foot, at $676.00 (PPSF). At Podley we have access to published Altos reports that take local and national data to make market predictions. If you are thinking about selling, now is the time. There is no crash on the near horizon and it is very unlikely that we will see the crash in home values like we did in 2007.
+ Q: How long will it take to sell my home?
A quick review of all Linda Vista Real Estate sales in the summer of 2017 showed that there was an average Days on Market (DOM) of 75 days. One property sold in as little as 7 days and one stayed on market for 164 days (incredibly long and an indication of a property not ready for market). Pasadena Real Estate moves quick due to a lack of inventory and desirability of our area, so it’s rare for Linda Vista homes to stay unsold for too long. Getting the most eyeballs on the property as soon as possible not only betters the odds of receiving an offer quickly but also increases the odds of getting the highest price for the home. An agent with a good marketing plan is key.
+ Q: Is staging really important?
On average, a staged home sells 88% faster—and for 20% more money—than a home that's left as is. The reason it works, of course, is it gives buyers a "stage" onto which they can play out their home-owning fantasies and envision themselves living in your home. If you are painting to prep the house’s interior, you should choose neutral paint colors and remove any family photos. Give would-be homeowners a blank canvass that they can easily see their loved ones and themselves living in.
+ Q: Should I be present when buyers view my house?
No, never, ever. Having the homeowners present makes would-be buyers uncomfortable. They want to dish about the house and not have to worry about offending. Again, your emotional attachment works against you. A good agent will not only be there for Open Houses but will also escort any other agents and prospective buyers. Placing a lockbox on a home and letting any agent have access at any time is not recommended in my opinion. Linda Vista has a prestige not typical in a home and neighborhood, that is why your list agent should be present for showings to represent the Linda Vista home in the manner it deserves.
+ Q: What is the agent's commission?
While the commission can vary, it is typically between 5% & 6% of a home's sale price—and that is split with the buyer's agent. But what's implied by this question is "What are Realtors doing to earn that fat check?" It varies from agent to agent, but like any other industry, there is mediocrity and those that raise the bar. Good agents add value to a listing. That value appears in the marketing of their listing, the level of engagement with buyers and buyers agents, the negotiation of a contract, the close of escrow, and the plentiful questions, concerns, and emotions that deserve answers, address, and empathy. List agents represent both you the sellers and the property. Sellers should interview three agents prior to selecting one to represent them. You want to be sure that you trust that person and are comfortable with them.
