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Another study that suggests staging your home could bring a higher price. If that is the case, then the small investment to stage is well worth the cost.

Fifty-nine percent of real estate professionals say staging a listing contributes to receiving higher offers from buyers, according to the National Association of REALTORS®’ 2017 Profile of Home Staging. Sixty-two percent of agents also say staging “slightly” or “greatly” decreases the time a listing spends on the market.

The amount of money sellers stand to gain from staging their home is significant. Thirty-one percent of practitioners surveyed say that staging a home before listing could lead to a jump in the sale price of five to 10 percent. In other words, a $300,000 home could potentially see a $15,000 to $30,000 price increase. That would easily pay for the cost of the staging, according to NAR’s report.

The majority of buyer’s agents say that staging makes it easier for their clients to visualize the property as their future home. The most important rooms to stage are the living room, master bedroom, and kitchen, according to the study. Thirty-eight percent of listing agents say they suggest all their clients stage their homes.

Source: ReatorMag.com

How’s The Market Linda

“How’s the real estate market?” I get asked this question quite often, because everyone is interested in real estate. My answer “depends on which market you are talking about.”  There are different markets. There is a buyer’s market, seller’s market, investor market and rental market.

Many of the real estate gurus are touting that now is the best real estate market ever. Why? Low interest rates good for buyers. Lots of buyers in the market place and low inventory, good for sellers. Scarcity of good rental properties, good for investors. So perhaps when we look back at this time, we will remember how great it was and that all markets were on the upswing.

For Sale By Owners Losing Money

For sale by owners, did you know you are losing out on more money in your pocket by going it alone. While you might be saving the real estate commission, you are not netting what you could if you used a real estate agent. And at the end of the day, the net is what counts. The following article explains in more detail.

For-sale-by-owners tend to sell their homes for lower prices than homes sold through traditional agents via the MLS, and in many cases below the average differential represented by the prevailing commission rate, according to a new study by Collateral Analytics

The study examined the price differences between homes sold through traditional agents versus those sold by FSBOs from 2016 to the first half of 2017.

Some homeowners may be tempted to try to avoid commission costs to a broker and try to sell the home on their own. But that can backfire and turn into a much lower sales price, the study found.

Even successful FSBO sellers achieve prices “significantly below” those from similar properties sold more traditionally via REALTORS®, the study found.

The authors found that the differential in selling prices for FSBOs when compared to MLS sales is “remarkably close to average commission rates.” A FSBO sale, on average, nets nearly a 6 percent lower price than an MLS sale for a similar property. 

Assuming that both buyers and sellers pay the commission, one might have expected something less than this average, the researchers note. It appears that many sellers are avoiding commissions while netting home prices less than they would with an agent-represented MLS sale. They are avoiding commissions at any price, even one that exceeds a commission rate.”

If more money in your pocket is what you are looking for, then you might consider hiring a professional.

Source: “Saving Real Estate Commissions at Any Price,” Collateral Analytics Research (Aug. 16, 2017)

What Can I Do To Increase My Home’s Value

Some the features that increase property values are obvious-like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. But here are a few features and circumstances you have not have realized can affect property values.

  1. The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbors can potentially be undervalued.
  2. Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores like Whole Foods or coffee chains like Starbucks, it can actually appreciate faster than the national average.
  3. Mature trees: A big beautiful tree in the front yard is enviable, and it’s not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.
  4. Parking: This isn’t too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That’s why having guaranteed parking in urban areas will raise property values.
  5. The front entrance: First impressions matter to buyers-many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.

San Ramon Home Sales 2nd Qtr 2017

San Ramon home sales for the second quarter of 2017. These numbers are for single family detached homes:

  • 261 Units Sold
  • Average Sales Price $1,169,633
  • Median Sales Price $1,120,000
  • Highest Price $2,375,000
  • Lowest Price $619,000
  • Average Days on Market 18

Average sales price is down 1% over first quarter of 2017, yet more than double the units, 261 vs 121

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