What Can You Expect from 2014?

Over the past year we've seen some great opportunities for both buyers and sellers. Interest rates were great, homes sold fast and there were tons of buyers in the market. The average sales price is up by $10,000!

We don't expect that great market to go away. The market has remained stable. For buyers, now is the time to get pre-approved. Interest rates are still phenomenally low and it's important to take advantage of that now.

Sellers - the inventory is still incredibly low and buyers need your home! Put your home on the market before the spring; beat your competition.

If you have any questions about what you can expect in 2014 or are ready to buy or sell, please give me a call today! Thanks for watching and happy new year!

What Should You Look for in an Agent?

What should you look for when hiring a real estate agent?

Most people want to work with an agent they can trust. Ask your friends and family if they have any referrals. Then look for experience. How long have they been a full time agent? Do they know the area?

I also wanted to address a common misconception. If you see an agent's name on a flyer to a home, you do not have to work with them. You can choose your own agent for no extra cost. Find somebody you are comfortable with.

What do you do to help a client buy or sell?

One of the most important steps when preparing a home for the market is making it available on the MLS. That way agents everywhere and buyers looking online can see the property.

We also do a lot of prospecting, calling neighbors to create a buzz. Word of mouth is a very effective marketing tool that is forgot about.

Even a simple yard sign can get a lot of attention. Buyers like to cruise through neighborhoods they would like to live in and see what is available.

Bishop CA Real Estate Market Update Fall 2013

Welcome back! The holiday season is upon us and I’ve had a lot of people ask me lately about what’s been happening in the market.

At the end of August we saw a slow in activity because of the increased interest rates. Inventory also began to increase causing a more balanced market.

Now is a great time to buy and sell. As we’ve seen even the slightest increase in interest rates can cause dramatic changes to the market. Take advantage of the great rates.

If you have any questions, please give me a call. Thanks for watching!

How Long Will it Take to Sell My Home?

A lot of sellers ask me how long it will take to sell their home. Well, there are a lot of factors that determine how long. One of the most important of those is price. In today’s market, buyers want a home that is in good condition, with a good location and a reasonable price tag to match. If your home has all three of those components, it will sell quickly.

Right now, the average-days-on-market is 79 days. This is relatively long, though, for a fairly priced property. An accurately priced home should sell within the first three weeks on the market.

If you have any questions about how your home should be priced, please give me a call at 760.873.4161

Thanks for watching!

Eastern Sierra Realty – Bishop, CA Market Update August 2013

What’s happening in our current Bishop real estate market?

The Bishop market has a lot going on depending on the price range you are looking at!

We are seeing quite a bit of activity in the $150,000-$250,000 range. There are a lot of investors and a lot of cash offers. Because of this, though, first time homebuyers are having a bit of a difficult time competing.

In the middle market range, homes around $350,000, there is a lack of inventory. We expect homes to sell very quickly when listed because there is such a pent up demand. So, if you are considering selling your home, now is the time!

In the higher price range homes, $450,000 and above, we are seeing a slower market. There is a smaller buyers pool and fewer who can afford the higher priced properties.

Home Show Gift Basket Winner!

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At Eastern Sierra Realty, we love to get back to those who make our business possible. That’s why, at our recent home show, we registered everyone who came out to win a free gift basket. The gift basket was filled with gift-cards from local establishments, including Barbeque Bills, Spellbinder Books, Black Sheep, Sandra Paulis Housekeeping Services, High Country Lumber, McDonald’s, Chevron, Village Café, Subway, Reagan Sporting Goods, Brown Supply and Bishop Nursery. Before we get to a winner, we would like to thank all of the companies involved and everyone who attended our home show and made it a great event.

Now, without further ado, we would like to congratulate Pat Stanley on winning our gift-card basket!

Congratulations Pat!

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Everyone else can keep an eye out for our next drawing and remember, if you or someone you know has any real estate needs, feel free to contact us at (760) 873-4161 or email us at randi@mysierrahomes.com or dawong1@telis.org. Thanks!

Comparing Year to Year Reveals Positive Changes

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The market nationwide is improving and Bishop is no exception. To be able to tell if the market is improving, we look not just at what happened month to month but year over year. Comparing the first quarter of 2013 with the first quarter last year shows some similarities and differences.  

Both quarters were the same with 26 homes, town-homes and condos sold within 20 miles of Bishop. So how come the market is improving but the sales are the same? In 2012 the sales of distressed properties—short sales or bank-owned—made up 38.5% of the sales, but it dropped in 2013 to 23%, so that was a big improvement. Decreased sales of distressed properties are a great sign the market is turning around. In addition, the days on market—number of days it took to sell a home—was 4.5 months. This year it took about 2.5 months to sell a home, which is a definite improvement. Another good sign is the average price of homes. Last year, the average sales price was $248,000 and the average price this year was $288,000, which is a big increase. While it’s tempting to think it’s due to prices increasing, it’s partly due to fewer distressed property sales.

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Another green shoot in the market is interest rates which are hovering at record-low rates. Buyers certainly have more buying power thanks to the rates.     

If you’d like to know where to be positioned in this market, please call us at (760) 873-4161 or email us at randi@mysierrahomes.com or dawong1@tellis.org so we can build a strategy to get you results.  We’d be happy to assist you. 

Free Services from Your Real Estate Pro

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What do you think of when you think “real estate agent”? You probably imagine a professional that is there to assist you with buying, selling or investing in property. For the most part that is exactly what real estate professionals do. However, in our work within the industry a number of additional services come into play that are often overlooked by most consumers. Here is a list of just a few of the additional services we provide to our clients, colleagues, friends and neighbors.

Home Value Analysis

Regardless of whether you are ready to sell a home, it is a good idea to know where your property falls in terms of fair market value. Property values fluctuate based on market activity and for homeowners that may not have had much exposure to the market for some time, getting a home value analysis done could be eye-opening.

If you are on the fence about buying or selling, a Comparative Market Analysis (or CMA) is a tool used by real estate professionals to gauge what other similar properties in the local marketplace have been selling for in the recent months. This is a carefully considered report that involves researching more than just recently sold homes but also looking at listings that may have expired as well as properties recently under contract.

A CMA will assist in the process of estate planning, property tax appeals, deciding whether to upgrade or downsize a home and determining if an investment is worth it. It’s also just a good idea to remain on top of where your property value is.

Industry Recommendations

Another very valuable service we provide our clients and friends is a complex network of referrals that come from years of working with vendors, suppliers, contractors, and other service providers. Whether looking for a roofer, someone to manage your lawn and garden or a lender – we have a long list of proven successes that stem from quality service providers.

Insight Into Alternatives

Many consumers are faced with situations where they may be limited in their options. When it comes to housing, we pride ourselves in being able to share useful alternatives  to help those that need it. This could be anything from assistance with moving to another state and finding an excellent agent to provide the same level of service as we do, to helping you find a rental home while you work out your long-term plans. Our goal is to help you – and we are in the business of building relationships not just selling homes.

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If you would like to engage us in any of these or other services – we invite you to contact us today. We look forward to helping you!