Choosing a Realtor Different needs for buyers and sellers
We’re built differently at Shea Homes. As a family-owned company, we always strive to do the right thing. With a legacy of exceptional design, quality, and care, we thoughtfully build homes for the way you live. Tour our models and discover the Shea difference. SheaHomes.com/BayArea
55+ gated community with amenities
THE MEADOWS IN BRENTWOOD
ORCHARD GROVE IN BRENTWOOD
ABIGAIL PLACE IN WALNUT CREEK
Townhome style residences with rooftop decks
SERENITY IN LIVERMORE
Sales: Shea Homes Marketing Company (CalDRE #01378646), Construction: SHNC GC, Inc. (CA CSLB #1060327)
Before you sell your house, should you fix it up or just leave it as is?
Sprucing up your home before putting it on the market or not?
Is it better to perform minor home improvements before selling your house, or leave it as-is? Brentwood real estate broker Patrick McCarran gave some tips on the matter. He said it’s possible to sell a home without sprucing it up beforehand, but it’s also risky. A house that doesn’t look new will often go for a lower price than one that was worked on, and may only interest those who want a fixer-upper.
“People today, if it’s ugly, they just won’t buy it,” McCarran said. “That’s why there’s a whole genre of webuyuglyhomes. com for [house] flippers.”
McCarran estimated that a home with even simple repairs, such as new flooring, new paint (which he said “is always going to get you your money back, plus”), new faucets, and new lighting will get you a 2-1 return on your investments.
For example, if you spend $5,000 painting the house, that improvement will add $10,000 to the price, he said. Recessed lighting like that which McCarran recommends can cost $3,000 to $5,000 for whole-home projects, according to modernize.com, while NerdWallet says that painting both the interior and exterior of a house costs an average of $5,100 and hardwood flooring can cost $6 to $25 per square foot, with carpet costing $0.50 to $1.50 per square foot according to Carpet Exchange. The Home Depot says that faucet installation can cost from $97 to $369 per faucet, averaging $195.
If a home is especially good looking,
Bathroom and kitchen remodel? We can handle it from start to finish!
Faucet, sink, toilet or drain problems? No problem!
Need additional outlets, ceiling fans, sconces or recessed lighting? We do that, too!
Interior, exterior, fence or other structure that needs painting? We’ve got you covered!
Home renovations that provide a significant return on investment can make homeowners happy once a project is completed and even happier when the day comes to put a home up for sale.
How to determine how much house you need
Potential home buyers typically have lists of requirements they would like to find in a new home. Although there are many features that are universally appreciated, certain elements may appeal to particular buyers more than others. For example, a swimming pool may be coveted by active families, but may not be as desirable to retirees looking for less upkeep.
Size is consideration that merits significant attention. The mantra “bigger is better” is well known, but homes with significant square footage may not be ideal for all buyers. “How much home do I really need?” is an important question for buyers to ask themselves before they embark on their home-buying journeys. Here’s how buyers can identify how much house they need. How many occupants will be living in the home?
The first consideration in home size is the number of residents. Rocket Mortgage says a good rule of thumb is to give each person 600 square feet of space. So that means a family of four would ideally live in a home that
Housing size is a personal preference that potential buyers should consider when they are shopping around.
is 2,400 square feet, while a couple may be fine in a 1,200 square foot home.
Number of rooms
Generally speaking, the more rooms in a home, the larger the house. Potential buyers should identify rooms they feel are essential. While formal dining rooms once were de rigueur, they largely fell out of
favor in recent years in lieu of open floor plans. The more rooms you need, the larger a home should be.
Potential life changes
It’s important to consider life changes on the horizon, and buyers should decide if they want to move as a result of those changes or if they want to set down strong
roots and stay in one home. For example, a starter home may be perfect for newlyweds, but the space may be too tight when kids come along. Also, those who anticipate caring for a parent in the future may want a home that will accommodate an extra resident in the years ahead.
Tiny house movement
The trend to live in very small houses has gained popularity in recent years. Many people have chosen to live with less and downsize to diminutive homes. Most “tiny” homes are less than 400 square feet and are not much bigger than some owner’s suites in larger homes. There are merits to small homes, and that includes a small environmental impact, less clutter, financial advantages, and other perks like spending more time outdoors.
Housing budget
Sometimes how much house a person needs comes down to how much he or she can afford. Small homes tend to be less expensive than large ones. However, even small homes in urban areas or those close to the water or other attractive amenities could still cost quite a bit. –
Metro Creative
Photo by Metro Creative
3 tips to help first-time home buyers
Real estate has garnered considerable attention since 2020, and for good reason. Though speculators and real estate professionals may point to a number of variables that have affected the market for homes in recent years, the pandemic certainly was among those factors. Real estate prices and mortgage interest rates increased significantly during the pandemic and have remained well above pre-COVID levels ever since.
The spike in home prices and interest rates has had a significant impact on young home buyers, some of whom feel as though their dream of home ownership may never be realized. And data from the National Association of Realtors indicates the median age of home buyers is now significantly higher than it was two decades ago. In 2023, the median age of buyers was 49, which marked an increase of 10 years compared to the average buyer age 20 years ago.
First-time home buyers may face a more challenging real estate market than they would have encountered just a half decade
buyers means it’s in their best interests to arrange financing prior to beginning their home search. A mortgage pre-approval can be a competitive advantage, as it indicates to sellers that buyers won’t be denied a mortgage or lack financing after making an offer. The financial specialists at NerdWallet note that buyers will be asked to provide details about their employment, income, debt, and financial accounts when applying for mortgage preapproval. Gather this information and clear up any problems, such as credit disputes or delinquent accounts, prior to applying for preapproval.
ago. The following three tips can help such buyers successfully navigate the market as they look to purchase their first home.
1. Expect to move quickly. Inventory remains low, which means buyers are in heated competition for the few homes that are on the market. In late 2023, NAR data indicated the rate of home sales were the lowest they had been in 13 years, so
BRING YOUR
buyers will likely need to move quickly and make an offer if they see a home they like, as chances are the property won’t be on the market too long before it’s sold. In fact, the NAR noted that homes spent an average of just 23 days on the market in October 2023.
2. Apply for mortgage pre-approval. The competitive nature of the market for
3. Set a realistic budget and expect to offer over asking price. A financial planner and/or real estate professional can help first-time buyers determine how much they should be spending on a home. In the current market, buyers should know that they will likely need to pay more than asking price for a home. For example, the NAR reports that 28 percent of homes sold for above list price in October 2023. With that in mind, first-time buyers may do well to look for homes that are under budget in anticipation of offering more than list price after seeing a property.
– Metro Creative
Photo from Metro Creative
The real estate market remains competitive for buyers. First-time buyers can use three strategies to increase their chances of realizing their dream of home ownership.
How
orking with a real estate agent can give both buyers and sellers an edge in what continues to be a challenging real estate market. Agents, brokers and Realtors have expertise and knowledge of the process of buying and selling homes. That expertise is evidenced by how many people rely on real estate professionals each year. A 2022 Zillow Group Consumer Housing Trends report found 88 percent of homeowners chose to list
their homes with a real estate agent when it comes time to sell.
People understand that it can be in their best interests to work with real estate professionals, but they may not know where to look as they seek to work with one. Here are some tips for finding the right real estate professional for you.
♦ Know the difference in real estate professionals. Real estate agents are required by the state in which they operate to pass a real estate license exam. Real estate brokers take it a step further and undergo additional training, which could bring additional experience to the table.
Realtors are members of the National Association of Realtors and beholden to its strict code of ethics. These people also may
have undergone additional training that qualifies them to work with certain types of clients, such as seniors.
♦ Seek referrals. Friends or family members, or even others can put people in touch with real estate professionals. When asking for referrals, individuals can inquire about certain professionals and how they handled buying and/or selling a home.
♦ Work with the right type of agent. Generally speaking, real estate agents either work with buyers or sellers in the transaction. Many will do both, but some specialize in buying or selling. Find a professional who either does both or specializes in your position.
♦ Research an agent’s online presence. Use the internet to see if the agent has a website, a particular philosophy or a specialty. This also may be a place to check online
reviews. Don’t be dissuaded by one or two poor reviews. However, if there are many, it may be best to look elsewhere.
♦ Meet and interview potential agents. Individuals should speak with a couple of real estate professionals to see what they offer. This is a good way to determine if there is a connection there, and whether the agent will get the results you want. A well-prepared agent will come with data. Professionals typically have information about the current market trends and a portfolio of the homes they have brokered recently.
♦ Go with gut instincts. If it’s between two people of equal qualification, select the person with whom you have a stronger rapport. This person will be guiding you through a sizable financial transaction, so comfort level is important.
– Metro Creative
Photo by Metro Creative
Finding the right real estate professional can take some time. But the right professional will guide clients through the often complex and occasionally frustrating process of buying or selling property.
it may receive multiple offers from prospective buyers, which will drive up the price even higher.
“We had one owner who had a bunch of cats and animals, the whole place was horrible,” McCarran said. “We stripped the carpet out, painted everything in white, and we got multiple offers. It’s amazing what a little paint will do. It gives [the house] that fresh look.”
McCarran recommended decluttering the house and removing personal effects first, while leaving more generic fixtures and decorations. After that would come
the basic updates like flooring, lighting, faucets, and paint, as well as exterior yard work, such as watering and fertilizing the lawn to make it greener. This will make your house look fresh, clean, and maintained, according to McCarran.
Despite the benefits of repairing and updating a house, McCarran said that only about half of the people selling a house actually do so, with the other half simply putting the house up on the market without doing anything to it. This could be for any number of reasons, he said, from not having enough money to do so to simply not wanting to change anything.
Decluttering the house and removing personal effects will make your house look fresh,
