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Easy Property Fixes to Prompt a Quick Sale

Easy Property Fixes to Prompt a Quick Sale

Easy Property Fixes to Prompt a Quick Sale

 

Small upgrades and aesthetic swaps can make all the difference in drawing buyers to a home.

by Danielle Braff

Key takeaways:

  • Instead of replacing outdated furnishings, consider paring down decorative distractions to show off the natural attributes of a well-structured space.
  • Focus on flourishes in common, small hardware such as doorknobs and handles on kitchen cabinetry.
  • If there are significant property defects, play up the home’s backstory to redirect attention to a positive talking point.

Despite the thought and preparation that goes into listing a home, the two biggest hurdles to the sale are property photos, which should motivate buyers to request an in-person tour, and the showing, which needs to justify the photos, says Kenny Dahill, CEO and co-founder of Burbz Co., an à la carte property manager platform. Your sellers could do expensive home improvements like a kitchen renovation or a room addition. But how can they complete a project of similar impact without spending thousands? And after the work is done, how do you promote your listing’s new look?

The National Association of REALTORS®’ Remodeling Impact report shows the following are the projects with the highest ROI:

  • New roofing: 107%
  • New hardwood floors: 106%
  • Refinished hardwood floors: 100%

But there are even easier tricks to get houses looking snazzy without spending too much time or money.

Focus on Spaces and Fixtures

Sometimes less is more, says Tamika Todd, a Bermuda-based broker with Platinum Realty.

Todd had a rental listing laden with outdated finish work and furnishings, including 1960s wall tiles and heavy drapery. She suggested that her client open up the space by removing the furnishings so the room contained only a bed, a small desk, and a chair. This helped highlight the depth of the 17-by-17-foot room and the ceiling height of the 750-square-foot loft-style unit. Todd showed the space with sheer curtains, neutral-colored walls, and open windows.

“The transformation definitely made the owner say ‘wow,’ along with every person who viewed it thereafter. It allowed prospects to see the size of the unit and to visualize living in the space without being distracted by the owner’s personal preferences,” Todd says. The owner of the rental originally wanted $1,500 per month in rent, but Todd listed it for $1,700 after the refresh of the unit and received five lease requests.

If your listing has other apparent physical issues that can’t be staged and must be disclosed, amplify the story behind the property to redirect buyers’ attention, Todd suggests.

Talk about the family whose children climbed the trees in the backyard, who witnessed a surprise proposal while hosting a family dinner by candlelight, or who welcomed aging parents to join the household. Ideally, you’ll capture these stories on video from the people who lived them and share with potential buyers ahead of their visit to the home, Todd says. “You will find that the people who view the property in person start to feel the story come alive and envision themselves in the space with their own dreams.”

One small, more tangible fix Todd often makes is replacing doorknobs, which are often overlooked.

But when chosen correctly, they can attract the eye of a buyer. “Imagine an entry door with a new coat of paint that already catches the eye but stands out even more with a just-as-eye-catching doorknob feature,” she says. For these, she selects ornate, modern doorknobs, or those that are traditional with a hint of flair, to spark intrigue and beckon buyers to wonder what’s inside. Todd instructs her listing photographer to get detail shots of the doorknob so house hunters searching online can see the thoughtfulness put into the welcoming feature of the home.

Swapping out light fixtures and other hardware, such as cabinet handles, is the first step Erik Wright, owner of New Horizon Home Buyers, a real estate investment company in Chattanooga, Tenn., takes before flipping a home.

The replacement fixtures and hardware you choose depends on trends in your market. Wright prefers simple, quality light fixtures throughout the home, with just one or two standouts, like a chandelier in an entryway or above the dining table. “Homes in my area usually do well with farmhouse chic or industrial-style fixtures,” Wright says. “Darker metal fixtures that use Edison-style bulbs are some of my favorites.”

If the floors need work, Wright selects an easy-to-install flooring option.

His favorite is luxury vinyl plank. “It looks like beautiful hardwood floors while also being much more durable and resistant to water,” Wright says. Once the floor is replaced, Wright makes sure to add “brand-new flooring” to the listing description.

Upgrades and No-Nos

Christina McCaffrey, CRS, broker-owner of Triangle Trusted Realty in Willow Springs, N.C., suggests a surprising property upgrade to her clients: She encourages adding a fence. “It’s a major expense, even if you’re doing the work yourself, but it will be a great asset when you go to sell,” she says. “Homes that have fenced yards tend to sell quickly, and the look is appealing because it makes the yard look bigger.”

In the kitchen, painting the cabinets can do wonders.

And if you have older appliances, it’s worth it to swap them out for stainless steel, McCaffrey says. White cabinetry is the preferred look in her area, so she aims for clean and sleek in her kitchens. Swapping out the faucets and adding in solid-surface countertops will also help if clients don’t have the latest look. “An older appliance will make a house look shabby,” McCaffrey says. “You only have one opportunity to ‘wow’ the buyer, so you should think about replacing the worn-out dishwasher with a new stainless one.”

In her market, she says, demand for these items is high, so most sellers recoup the cost of the replacements. However, some fixes shouldn’t be advertised, says Ricardo Mello, co-founder and managing partner at Manhattan Miami, a luxury residential real estate agency with offices in New York and Miami. The first thing buyers see when viewing a listing is the outside of the home, so curb appeal is a big deal. You don’t need to hire a landscaper to make your listing’s outdoor areas shine; small things, such as refreshing mulch, planting seasonal flowers, keeping on top of lawn maintenance, and adding a new doormat, can make an excellent first impression, Mello says.

“I find that making sure these are taken care of definitely results in a better overall impression in photos, which translates to more people opting to view the home in person,” Mello says.

“These small changes aren’t something I’d advertise in a listing. I want potential buyers to have the impression that this home has been well cared for versus quickly updated to be on the market.”

 

Easy Property Fixes to Prompt a Quick Sale

Support Small Businesses

 

What a year it has been and especially for small businesses in Grass Valley and Nevada City.

 

🎄As you start your holiday shopping think about supporting local businesses.  As a business owner in the area I know this year has hit small businesses and restaurants the hardest.
So take a trip to a local store and find Christmas presents or purchase gift cards to local restaurants as this too will help them during this “Purple tier shutdown”.

 

So shop local and support those small businesses.

 

Christmas Lights in Alta Sierra

Christmas Lights in Alta Sierra

I wanted to spread a little extra Christmas Cheer this year 🎄

Here is a list of roads in Alta Sierra with one or more homes decorated for Christmas.  So pack up your family and make an evening event of enjoying the lights.

If you want a PDF sent to your email send me an email that says Alta Sierra Lights to alisare2012@gmail.com and I will send it right out.  Or if you want a printed copy come by my office at 10015 Alta Sierra Dr suite 5B or text me at 530-559-4871 and we can arrange a place to meet up to get you the list.

Wishing you all a Happy Healthy Holiday Season!

 

-Updated list 12/15/2020

 

Cheesy Hasselback Potato Gratin

Cheesy Hasselback Potato Gratin

Cheesy Hasselback Potato Gratin

Recipe from J. Kenji López-Alt
Adapted by Emily Weinstein
  • YIELD 6 servings
  • TIME About 2 hours

 

Melina Hammer for The New York Times

This golden and glorious mash-up of potato gratin and Hasselback potatoes, from the acclaimed food science writer J. Kenji López-Alt, has been engineered to give you both creamy potato and singed edge in each bite. The principal innovation here is placing the sliced potatoes in the casserole dish vertically, on their edges, rather than laying them flat as in a standard gratin, in order to get those crisp ridges on top. Allow extra time for the task of slicing the potatoes, for which it’s helpful to have a mandoline or food processor (though not necessary, strictly speaking). And do buy extra potatoes, just in case; you want to pack the potatoes tightly and keep them standing up straight. —Emily Weinstein

Featured in: In ‘The Food Lab,’ The Science Of Home Cooking

INGREDIENTS

  • 3 ounces finely grated Gruyère or comté cheese
  • 2 ounces finely grated Parmigiano-Reggiano
  • 2 cups heavy cream
  • 2 medium cloves garlic, minced
  • 1 tablespoon fresh thyme leaves, roughly chopped
  •  Kosher salt and black pepper
  • 4 to 4 ½ pounds russet potatoes, peeled and sliced 1/8-inch thick on a mandoline slicer (7 to 8 medium, see note)
  • 2 tablespoons unsalted butter

PREPARATION

  1. Adjust oven rack to middle position and heat oven to 400 degrees. Combine cheeses in a large bowl. Transfer 1/3 of cheese mixture to a separate bowl and set aside. Add cream, garlic and thyme to cheese mixture. Season generously with salt and pepper. Add potato slices and toss with your hands until every slice is coated with cream mixture, making sure to separate any slices that are sticking together to get the cream mixture in between them.
  2. Grease a 2-quart casserole dish with butter. Pick up a handful of potatoes, organizing them into a neat stack, and lay them in the casserole dish with their edges aligned vertically. Continue placing potatoes in the dish, working around the perimeter and into the center until all the potatoes have been added. The potatoes should be very tightly packed. If necessary, slice an additional potato, coat with cream mixture, and add to casserole. Pour the excess cream/cheese mixture evenly over the potatoes until the mixture comes halfway up the sides of the casserole. You may not need all the excess liquid.
  3. Cover dish tightly with foil and transfer to the oven. Bake for 30 minutes. Remove foil and continue baking until the top is pale golden brown, about 30 minutes longer. Carefully remove from oven, sprinkle with remaining cheese, and return to oven. Bake until deep golden brown and crisp on top, about 30 minutes longer. Remove from oven, let rest for a few minutes, and serve.

Tip

  • Because of variation in the shape of potatoes, the amount of potato that will fit into a single casserole dish varies. Longer, thinner potatoes will fill a dish more than shorter, rounder potatoes. When purchasing potatoes, buy a few extra in order to fill the dish if necessary. Depending on exact shape and size of potatoes and casserole dish, you may not need all of the cream mixture. 

Kris 3 years ago

A couple of things…
1. Since Hasselback is called out here, acknowledgement to our friends in Sweden @ the Hasselback Hotel are in order. Legend has it this dish was invented there.
2. A lot of time can be saved arranging potatoes on their ends by taking a nice Yukon Gold, placing it in a wooden spoon (the spoony-end) and slicing till your knife hits the spoon. The tater stays together nicely at the bottom and it’s very easy to handle. You can google this.

 

As 2020 comes closer to blessedly ending, Thanksgiving is near. While this year has had unusual challenges, we are thankful that we and our families are weathering the storm in pretty good shape. And we give thanks that we live in Nevada County, with all the blessings that life and friends here bestow. However you, friends and family will celebrate, ENJOY THIS POTATO RECIPE FOR YOUR THANKSGIVING TABLE!

 

HAPPY THANKSGIVING FROM ALL OF US AT JOHNSON’S SIERRA LIFESTYLE TEAM!

 

 

Nevada County Market Observations, November 2020

Nevada County Market Observations, November 2020

Nevada County Housing Market Observations

November 2020

Lack of inventory in Nevada County continues.

Numbers are consistent with previous months, 520 houses for sale October 2019 vs 286 houses for sale October 2020, 45% lower year to year. Houses sold are up 25%, 157 Oct last year, 157 houses sold this October. 

Inventory reduction is from 4.2 months of inventory last October to 1.8 months of inventory this October.

A very strong SELLER’S MARKET continues, especially considering Nevada County’s attractiveness as one of the premier work-from-home communities, and media outlets have taken notice.

Average SOLD price per square foot is up 13.7% year to year ($234 vs $266. Average price sold is up 14.6%, from $435,000 to $570,000. Higher list prices are prevailing.

Nevada County continues to be strongly attractive to buyers looking for safer havens.

Especially coupled with the myriad lifestyle opportunities and community connections the foothills offer. Days on market has fallen 48%, from 75 days last year in October to 39 days in October this year. Buyers are energized to jump on good, well-priced houses especially given our current low inventory environment.

We continue to see a slight slowing of the market in our own area, likely due to national elections coupled with the coming holidays. That said, good houses are still commanding significant attention from buyers and garnering strong offers. While prices are climbing, appraisals tend to lag the market a bit, so some circumspection in pricing is smart.

Don’t hesitate to call us for evaluations of your home’s value or to tour homes on the market you have an interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871.

Johnson’s Sierra Lifestyle Team Adds Instagram expertise to support client listings!

Social Media has many benefits, especially for businesses.

It is a tool that many people tend to overlook. Having a good social media presence is especially important as we move further and further into a world dependent on technology. Perhaps the best way to get business is by word of mouth and advertising, social media combines those. When a business posts something on social media, not only is it being spread to more people than you can reach with typical advertising, but it also creates a personal connection between the business and the consumer making them more likely to pick that business over any other. Social media can help businesses grow immensely in size, and reach new younger customers that are essential to keeping a business alive. Overall, Social Media is only a positive for businesses looking to grow, reach more customers, and to create more personal connections with customers.

The Sierra Lifestyle Team utilizes our robust Social Media skills to benefit the sale of your home, reaching thousands of qualified buyers on Facebook.

We don’t rest on our laurels…and are pleased to announce a new INSTAGRAM manager, Karissa Johnson. Karissa will head up our new Instagram program to highlight your properties to thousands of interested buyers, giving you significant new exposure to interested real estate buyers.   

Brought to you by Johnson’s Sierra Lifestyle Team! 

 

Social Media Marketing

Social Media Marketing

Johnson’s Sierra Lifestyle Team Adds Instagram Expertise to Support Client Listings!

ON SOCIAL MEDIA – Karissa Johnson

Social Media has many benefits, especially for businesses.

It is a tool that many people tend to overlook. Having a good social media presence is especially important as we move further and further into a world dependent on technology. Perhaps the best way to get business is by word of mouth and advertising, social media combines those. When a business posts something on social media, not only is it being spread to more people than you can reach with typical advertising, but it also creates a personal connection between the business and the consumer making them more likely to pick that business over any other. Social media can help businesses grow immensely in size, and reach new younger customers that are essential to keeping a business alive.

Overall, Social Media is only a positive for businesses looking to grow, reach more customers, and to create more personal connections with customers.

The Sierra Lifestyle Team utilizes our robust Social Media skills to benefit the sale of your home, reaching thousands of qualified buyers on Facebook. We don’t rest on our laurels…and are pleased to announce a new INSTAGRAM manager, Karissa Johnson.

Karissa will head up our new Instagram program to highlight your properties to thousands of interested buyers, giving you significant new exposure to interested real estate buyers.   

Brought to you by Johnson’s Sierra Lifestyle Team!

 

Younger Americans Lead Desire for Bigger Homes, Outdoor Space

October 13, 2020

Young Americans are having their housing preferences shaped by the pandemic.

They’re seeking larger homes and outdoor space, yet in walkable areas, according to findings from the 2020 Community and Transportation Preference Surveys recently conducted by the National Association of REALTORS®.

Young adults who live in walkable areas tend to report a higher quality of life than those who live in less walkable areas, the survey shows.

And young Americans may need a boost: Americans under the age of 40—millennials and Generation Z—are the most likely to say their overall quality of life has been negatively affected by the pandemic.

“Although COVID has dramatically changed people’s lives, this study shows that a substantial demand for walkability persists for Americans of all ages,” says Vince Malta, NAR’s president.

The survey also showed that families with children in school tended to show a stronger desire for detached homes and larger yards.

Before the pandemic, a majority of Americans preferred smaller yards in a walkable community, the survey says.

Americans 55 and older and those with higher incomes also tended to show an increased desire for walkability in their neighborhood.

Overall, survey respondents who strongly agreed with the statement that there are “lots of places to walk nearby” showed an 8% increase in quality of life, the NAR survey shows.

Source: 

NAR Community and Transportation Preferences Surveys,” National Association of REALTORS® (2020)

 

Walkable areas? Nevada County got ’em!!

 

Social Media Marketing

Market Observations

Market Observations, October 2020

October 2020

The lack of inventory in Nevada County continues.

The numbers are consistent with previous months. 548 houses for sale September 2019 vs 148 houses for sale September 2020. That’s a reduction from 4.4 months of inventory to 1.5 months of inventory. A very strong SELLER’S MARKET continues, especially considering Nevada County’s attractiveness as one of the premier work-from-home communities.

Average SOLD price per square foot is up 17% year to year ($224 vs $264). Average price sold is up 16%, from $434,000 to $569,000. Higher list prices are prevailing.

Nevada County continues to be strongly attractive to buyers looking for safer havens, especially coupled with the myriad lifestyle opportunities and community connections the foothills offer.

We are seeing a slight slowing of the market in our own area, likely due to national elections looming coupled with the coming holidays. That said, good houses are still commanding significant attention from buyers and garnering strong offers. While prices are climbing, appraisals tend to lag the market a bit, so some circumspection in pricing is smart.

Don’t hesitate to call us for evaluations of your home’s value or to tour homes on the market you have interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871.

A MARKET perspective from CA Association of Realtors – Covid 19 colors a strong housing recovery.

October 13, 2020

C.A.R. releases its 2021 California Housing Market Forecast

California housing market recovery hinges on widespread availability and usage of effective coronavirus vaccine in early 2021. 

 

LOS ANGELES (Oct. 13) –

Low mortgage interest rates and pent-up demand from a desire for homeownership will bolster California home sales in 2021, but economic uncertainty caused by the coronavirus pandemic and continued supply shortage will limit sales growth, according to a housing and economic forecast released today by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

The baseline scenario of C.A.R.’s “2021 California Housing Market Forecast” sees a modest increase in existing single-family home sales of 3.3 percent next year to reach 392,510 units, up from the projected 2020 sales figure of 380,060. The 2020 figure is 4.5 percent lower compared with the pace of 397,960 homes sold in 2019.

The California median home price is forecast to edge up 1.3 percent to $648,760 in 2021, following a projected 8.1 percent increase to $640,330 in 2020 from $592,450 in 2019.

“An extremely favorable lending environment and a strong interest in homeownership will continue to motivate financially eligible buyers to enter the market,” said C.A.R. President Jeanne Radsick, a second-generation REALTOR® from Bakersfield, Calif. “While the economy is expected to improve and interest rates will stay near historical lows, housing supply constraints will continue to be an issue next year and may put a cap on sales growth in 2021.”

C.A.R.’s forecast projects growth in the U.S. gross domestic product of 4.2 percent in 2021, after a projected loss of 5.0 percent in 2020. With California’s 2021 nonfarm job growth rate at 0.5 percent, up from a projected loss of 12.7 percent in 2020, the state’s unemployment rate will dip to 9.0 percent in 2021 from 2020’s projected rate of 10.8 percent.

The average for 30-year, fixed mortgage interest rates will dip to 3.1 percent in 2021, down negligibly from 3.2 percent in 2020 and down from 3.9 percent in 2019, remaining low by historical standards.

“While home prices rose sharply in 2020, driven by strong sales of higher-priced properties and a limited inventory of homes for sale, the pace of price growth will be more moderate in the coming year,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “The uncertainty about the pandemic, sluggish economic growth, a rise in foreclosures, and the volatility of the stock market are all unknown factors that could keep prices in check and prevent the statewide median price from rising too fast in the upcoming year,” Appleton-Young continued.

2021 CALIFORNIA HOUSING FORECAST

 

2015 2016 2017 2018 2019 2020p 2021f
SFH Resales (000s) 409.4 417.7 424.9 402.6 398.0 380.1 392.5
% Change 7.0% 2.0% 1.7% -5.2% -1.2% -4.5% 3.3%
Median Price ($000s) $476.3  $502.3  $537.9  $569.5  $592.4  $640.3  $648.8 
% Change 6.6% 5.4% 7.1% 5.9% 4.0% 8.1% 1.3%
Housing Affordability Index 31% 31% 29% 28% 31% 32% 31%
30-Yr FRM 3.9% 3.6% 4.0% 4.5% 3.9% 3.2% 3.1%

p = projected
f = forecast

* = % of households who can afford median-priced home

 

 

Cinnamon-Swirl Pumpkin Rolls

Cinnamon-Swirl Pumpkin Rolls

Cinnamon-Swirl Pumpkin Rolls

Halloween is a-comin’. We are a little sad that Covid has changed the trick or treat fun this year, but that doesn’t mean we can’t have fun in the kitchen!…here’s a good pumpkin recipe from our friends at King Arthur Baking. (We’re suddenly hungry ☺)

 

Ingredients

Dough
  • 1 cup (227g) pumpkin or squash purée
  • 2 large eggs
  • 2 tablespoons to 1/4 cup (28g to 57g) lukewarm water*
  • 4 tablespoons (57g) butter, softened
  • 2 1/2 cups (300g) King Arthur Unbleached All-Purpose Flour
  • 1 3/4 cups (198g) King Arthur White Whole Wheat Flour
  • 1/4 cup (28g) Baker’s Special Dry Milk or nonfat dry milk
  • 1 teaspoon cinnamon
  • 1/2 teaspoon ginger
  • 1/4 teaspoon cloves, optional
  • 3 tablespoons (43g) brown sugar, packed
  • 1 1/2 teaspoons salt
  • 2 teaspoons instant yeast

*See “tips,” below.

Filling
  • 3/4 cup (113g) Baker’s Cinnamon Filling*
  • 3 tablespoons (43g) water
  • 1/2 cup (57g) mini diced ginger, raisins, or dried cranberries, optional

*See “tips,” below.

Glaze
  • 1 cup (113g) confectioners’ sugar
  • 1 tablespoon (14g) butter, room temperature
  • 1 1/2 tablespoons (21g) milk, or enough to make a pourable glaze

NUTRITION INFORMATION

Instructions

  1. To make the dough: Mix and knead all of the dough ingredients together — by hand, mixer, or bread machine — until you’ve made a soft, fairly smooth dough.
  2. Place the dough in a lightly greased bowl, cover the bowl, and allow the dough to rise for 1 1/2 hours, until it’s almost doubled in bulk.
  3. Turn the dough out onto a lightly greased surface. Roll it into a 14″ x 22″ rectangle; the dough will be thin.
  4. To make the filling: Mix the cinnamon filling and water. Spread a thin layer over the dough, leaving one short edge free of filling.

 

Pumpkin cinnamon rolls

BY PJ HAMEL

  1. Sprinkle with crystallized ginger or dried fruit (or both), if desired.
  2. Starting with the short end that’s covered with filling, roll the dough into a log.
  3. Cut the log into 9 rolls (1 1/2″ slices).
  4. Place the rolls into a lightly greased 9″ x 9″ square pan that’s at least 2″ deep (or equivalent). Set aside, covered, to rise for 1 hour, or until the rolls look puffy.
  5. Bake the rolls in a preheated 375°F oven for 25 to 30 minutes, until they’re lightly browned and feel set. Remove the pan from the oven, turn the rolls out of the pan, and allow them to cool for about 15 minutes. Toward the end of the cooling time, make the glaze.
  6. To make the glaze: Heat the butter and milk together until the butter melts. Whisk into the sugar.
  7. Drizzle the warm rolls with the warm glaze. Sprinkle with chopped nuts, if desired.
  8. Store any leftovers, well wrapped, at room temperature for a couple of days; freeze for longer storage.

Tips from our Bakers

  • Adjust the amount of water by the time of year or your climate. For summer, or in a humid environment, use the lesser amount of water. In winter, or in a dry climate, use the greater amount. It’s always best to start with the lesser amount; you can always add more, but once it’s in you can’t add less!
  • Substitute 3/4 cup granulated sugar + 1 tablespoon ground cinnamon for the Baker’s Cinnamon Filling and water, if desired. If you use sugar and cinnamon, DO NOT ADD THE WATER called for in the recipe.
  • For a topping that stays white and remains on top of the rolls rather than partially melting in, allow the rolls to cool completely before glazing.

 

Have a great October! 

Easy Property Fixes to Prompt a Quick Sale

Buying, Selling at the Same Time

Nearly a Third of Home Sellers’ Top Stressor is Buying, Selling at the Same Time

Written by CRISSINDA PONDER 

Edited by DEBORAH KEARNS

Published on: July 27th, 2020 

For many home sellers, the most anxiety-inducing part of the home-selling process is trying to simultaneously sell their current place while buying their next dream home.

That’s according to findings from a new survey commissioned by LendingTree, which also found that sellers are planning to spend an average of more than $10,000 on repairs and upgrades to sell their home.

Key findings

The No. 1 stressor for nearly one-third (29%) of home sellers is buying and selling a home at the same time.

Another 16% of sellers report that costly repairs and upgrades are the most stressful part of selling a home, and 15% stress most about failing to sell their home.

More than 1 in 5 (22%) of home sellers have felt pressure from their agent to accept a lower-priced offer.

Another 22% felt their real estate agent pressured them to spend a significant amount of money on repairs and upgrades before selling their home. Still, 31% of sellers reported not feeling any pressure at all.

When broken down by age group, millennials (70%) were more likely to feel some sort of selling-related pressure than older generations such as Gen X (49%) or baby boomers (14%).

More than 4 in 10 (43%) strongly agree that the home-selling process is more expensive than they anticipated.

Another 43% of home sellers somewhat agree that they’re spending more than expected on their home sale. Meanwhile, more than half (51%) of millennials strongly agree with that sentiment, compared with just 28% of baby boomers.

Other takeaways

Nearly 1 in 5 (18%) millennials said the top stressor of selling a home is deciding on an asking price, compared to just 10% of Gen Xers and 6% of baby boomers.

More than 1 in 5 (21%) baby boomers are most stressed about making costly home repairs and upgrades to sell their home. Another 22% of baby boomers fear that their home won’t sell, compared with 15% of Gen Xers and 10% of millennials.

When asked how long they think their home will stay on the market before it’s sold, more than 4 in 10 (44%) sellers said one to three months. More than 1 in 4 (27%) think it will take four to five months to sell their home.

Home sellers expect to spend more than $10,000 on average for repairs and upgrades in order to sell their home. Millennial sellers anticipate spending $13,727 on average, which is the highest amount of all age groups.

After removing decorations and decluttering, the top three repairs and upgrades home sellers have made are:

  • Fresh interior paint (48%)
  • Bathroom upgrades (45%)
  • New kitchen appliances (45%)

4 factors to consider when selling your home

The cost to sell a home can reach more than $20,000, depending on your home’s sales price. Keep the following factors in mind as you prep for a home sale:

  1. Be mindful of your timeline. If you’re buying a home while selling your current one, it’s important to bake in enough time to find your new home. The average time close on a home purchase is 47 days, according to Ellie Mae’s June Origination Insight Report.
  2. Get a home inspection. Before you list your home for sale, pay for a home inspection to identify issues with your home’s condition that may need to be addressed right away. If the buyers discover the issue during their inspection, negotiating repairs could postpone or derail the sale.
  3. Negotiate your selling costs. You’ll have to pay several closing costs, including commissions for both your and the buyer’s real estate agent. It’s in your best interest to negotiate these fees, as they can cost several thousand dollars.
  4. Reduce your mortgage debt. Your mortgage will need to be paid off first before you receive any sales proceeds. In the months before you begin the home-selling process, consider dedicating any bonuses, refunds or windfalls to paying down your outstanding loan balance.

Methodology

For this survey, LendingTree commissioned Qualtrics, an experience management firm, to gather responses from 964 home sellers, with the sample base proportioned to represent the overall population. The survey was conducted April 24-30, 2020.

Generations were defined by the following age ranges:

  • Millennials are ages 24-39
  • Generation X are ages 40-54
  • Baby boomers are ages 55-74

Our survey also included responses from members of Generation Z (ages 18-23) and the silent generation (ages 75 and older). Their responses were factored into the overall percentages but excluded from the generational breakdowns, due to the low sample size among both age groups.

Sierra Lifestyle Team Note: A good Real Estate Team on your side is essential to reducing your stressors as you prepare to sell your house and go through the process. Your agent(s) should be prepared to discuss their value proposition to assist you in selling your home, maximize your offer price, and minimize the time frame for selling.

Nevada County Market Observations

Nevada County Market Observations

Market Observations 

September 2020

 Lack of inventory in Nevada County continues to be a feature of the current real estate market.

The numbers are nearly identical to previous months. 641 houses for sale August 2019 vs 265 houses for sale August 2020. That’s a reduction from 4.6 months of inventory to 1.3 months of inventory. A very strong SELLER’S MARKET continues, especially considering Nevada County’s attractiveness as one of the premier work-from-home communities.

The average SOLD price per square foot is up 6% year to year ($233 vs $239). Average price sold is up 13.4%, from $463,000 to $524,000. Higher list prices are prevailing.

Nevada County continues to be strongly attractive to buyers looking for safer havens, especially coupled with the myriad lifestyle opportunities and community connections the foothills offer.

We are seeing multiple offers for good listings here, with a number of houses going for over asking prices. If you are contemplating selling a property, we have rarely seen a better time!

 

Don’t hesitate to call us for evaluations of your home’s value or to tour homes on the market you have interest in. We are here for you, and Alisa always answers her cell phone, 530-559-4871.

ON SOCIAL MEDIA

by Karissa Johnson

Social Media has many benefits, especially for businesses.

It is a tool that many people tend to overlook. Having a good social media presence is especially important as we move further and further into a world dependent on technology. Perhaps the best way to get business is by word of mouth and advertising, social media combines those. When a business posts something on social media, not only is it being spread to more people than you can reach with typical advertising, but it also creates a personal connection between the business and the consumer making them more likely to pick that business over any other. Social media can help businesses grow immensely in size, and reach new younger customers that are essential to keeping a business alive.

Overall, Social Media is only a positive for businesses looking to grow, reach more customers, and to create more personal connections with customers.

The Sierra Lifestyle Team utilizes our robust Social Media skills to benefit the sale of your home, reaching thousands of qualified buyers on Facebook. We don’t rest on our laurels…and are pleased to announce a new INSTAGRAM manager, Karissa Johnson.

Karissa will head up our new Instagram program to highlight your properties to thousands of interested buyers, giving you significant new exposure to interested real estate buyers.   

Brought to you by Johnson’s Sierra Lifestyle Team!

Sellers Are Calling the Shots, But for How Much Longer?

September 11, 2020

The housing market continues to outperform historical standards as prices accelerate to new highs and homes sell faster, according to realtor.com®’s latest Weekly Recovery Report.

“Sellers are calling the shots in today’s market,” says Danielle Hale, realtor.com®’s chief economist. “Prices are rising and housing inventory is vanishing almost as fast as it appears.”

However, Hale points to two housing indicators that may hint at a turn in the market.

Housing demand from buyers has cooled slightly, while new listings showed a smaller decline than previous weeks, Hale says. “This could be a hiccup in weekly activity, or, if these trends continue, they could signal a shift in market dynamics leading into the fall when political, economic, and health-related uncertainties abound,” she says.

Realtor.com®’s Housing Market Index reached a reading of 107.7 for the week ending Sept. 5. That’s 7.7 points higher than its pre-COVID-19 baseline in January. Buyer demand dropped 3.3 points since last week, and inventory showed improvement, rising 3.2 points higher—though it still remains below its pre-COVID-19 baseline.

Meanwhile, home prices continue to escalate.

Median listing prices are up 10.8% annually, which is the fastest pace of growth in more than two years, realtor.com® reports. Time on the market is now 12 fewer days than a year ago. “Buyers are moving much faster than this time last year to beat out competition and lock in low mortgage rates,” realtor.com® reports. “This means homes are sitting on the market for much less time, despite notably higher price tags.”