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 to Prepare Your House for the Market

Welcome back! When you put your home on the market, you want it to appeal to a wide range of buyers. You want it to sell quickly and for a great price. Here are four tips to help get your home ready to list.

1. Curb appeal - The outside of your home is the first impression a buyer has. Mow the lawn, trim the hedges, and plant new flowers.
2. ‘Declutter’ - Since you have to pack anyway, remove clutter and personal items. Don’t store them in the closet, though. Buyers will want to see how spacious the closets are.
3. Repair - Buyers want a home in good condition. If you have a leaky faucet or burnt out light bulb, fix it. Don’t give the buyer any reason to doubt the condition and worth of your home.
4. Ask a professional - It can be hard to look at your own home in the eyes of a buyer. Call us at 760.873.4161 and we can help you review what needs to be done to the property.

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!

What can a seller do to get their home ready for sale?

A lot of people ask me how they should prepare their home for the market. I have a few main elements to keep in mind when you are getting ready to list your home. 

Curb Appeal - The first thing a seller should think about is the curb appeal of their home. What’s curb appeal? It’s how your home looks on the outside; it’s the very first impression your home makes on a potential buyer.

Mow your lawn, trim the hedges, put a fresh coat of paint on your front door. These simple things can make a huge difference.

Declutter and Clean - Once inside the home, take down all the knickknacks. Your goal is for the buyer to envision living in the home. Put away the collectibles and religious items. Make your home look spacious. Also, have the kitchen and bathrooms sparkling clean! A buyer responds so much more positively to a clean home.

Right Price - Another important part of selling your home is choosing the right price. You can either price your home to sell or price it to sit. Listen to your real estate agent; look at comparables. There is a fine line between getting the most amount of money for your home and overpricing it.

These are just a few tips on how to get your home ready for the market. If you have any other questions, or are ready to buy or sell your home, please give me a call.

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!

Watch on your mobile device >>

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!

~
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!

How to Gain a Competitive Edge

Watch on your mobile device >>

Buyers are entering a competitive market with multiple offers being common. To help you win in this market, we want to share some tips on how to land the home of your dreams. By taking these steps, your offer will stand out from the crowd.

Time is of the essence so be aggressive. When a home that you’re interested in hits the market, plan to see it as soon as possible.  Make seeing homes your priority, which may mean you have to take time off from work or go on your lunch hour.  Once you find a home you like, you’ll need to make up your mind quickly. If you hesitate, the property could be gone because others will be making offers.

Once you decide to write an offer, make it the best possible offer that’s at an appropriate price point for the seller. Make it a strong offer! Basically, you’re going to want to put as much down as you can and don’t ask for a lot from the seller, such as requesting the seller to pay for fees. Keep in mind the seller will look at their bottom line, and anything you ask for takes away from their bottom line.

To make your offer even stronger, consider how you will handle contingencies, which have to be removed before the offer moves forward. For example, there may be a contingency based on the inspection or a contingency on getting your loan. The shorter time you have for contingencies the stronger your offer.

We highly recommend being preapproved—not just prequalified—for a loan.  Being preapproved means you have submitted information to the lender, the bank has reviewed it and probably sent it off to the underwriter, which means you can make an offer with a preapproval letter. The seller will then take your offer more seriously.

Find a knowledgeable real estate agent by interviewing them. You want to find an agent who has your best interest at heart. By hiring an expert, you’ll avoid home-buyer mistakes. The agent will guide you through a series of questions so you get what you want from your biggest investment. Based on all the information you provide, a knowledgeable agent will help you land your dream home no matter how competitive the market is for homes.

Your agent will not only help you find the home of your dreams, but connect you to the right people to make the entire buying process as smooth as possible. In addition to a real estate agent to represent you, you’ll also need a home inspector, a lender and a real estate attorney. Thanks to an expert agent, you can rest assured that you’re working with the best in the business. Remember, you wouldn’t climb Mount Everest without a guide, so you don’t buy a house without a rock star real estate agent.

If you are interested in succeeding in this market, contact us today at (760) 873-4161 or randi@mysierrahomes.com or dawong1@tellis.org so we can build a strategy to get you the results you want.  We’d be happy to assist you.