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JaCi Wallace
Leaving Money on the Table When You Sell Your Home.
How can you know if you’re leaving money on the table when you sell your home? For starters, why not hire a top Sacramento Realtor with hundreds of positive testimonials, so you don’t leave money on the table! When you see a team with more than a thousand sales and hundreds of 5 star reviews, you can take away that it wasn’t luck. Skill is how you continue to grow your business after decades of experience. You update and evolve with the times.
Realtors who have a strong web presence and stay relevant in the use of technology tools and marketing do not simply price a listing low and throw it on MLS, like some might think. When we listed homes for sale, say, in the early 1980s, a For Sale sign was the marketing, on top of door knocking. There was a blue book with property lisings. Buyers often walked into a real estate office and talked to an agent on “floor duty.” Very rarely do buyers walk into real estate offices today to look for property. Buyers look on the internet today and, guess what? No internet available in 1980. We have come a long way baby, LOL.
What sparked my blog today? I was evaluating a property value that the Weintraub & Wallace team is working on. It is in a cookie-cutter neighborhood in Sacramento. These are the same floor plans built one to two years apart with very similar lot size. Easy price comparisons in these type of neighborhoods.
I found 5 sold properties with the same floor plan sold with in the last six months. The lots are almost identical size. Year built 1999 – 2000. All located within 1 / 2 mile of the subject property. Conditions were a bit different. Some had updated kitchens and bath. These are not custom homes.
The sales in 6 months in this neighborhood showed a recent closing at $339,000. MLS data said it needed a little work but was a great value. Our listing needs a little work too. The highest closed sale to date was $391,000 with some updates. A $52,000 price range difference between low to high. All five properties are less than 20 years old with stucco exteriors, tile roofs and slab foundations.
Our listing will go on the market in the high three-hundreds. It also needs a little bit of work but has been cleaned up and painted. Based on demand and an average of 20 days on market, we can obtain a very nice sales price for our client. So leaving money on the table when you sell your home can happen but not for our clients. In this study, even if it was only .25 of the $52,000, that is $13,000 almost my entire brokerage fee! If it was half, it is $26,000, and this savings pays our entire 6% commission!
Would any seller be happy if she left money on the table? No, of course not. Does an average seller know how to read a comparison market analysis? Not in my experience, sellers rely on their agent to explain and interpret. Studying the market means hours of looking over sales data and hundreds of photos. Looking at maps and plot plans, it is not a 5-minute quick search. There are adjustments to be made for amenities or lack thereof. Also, we have to look at price reductions, and properties that failed to sell (called expired listings).
If you want to ensure you’re not leaving money on the table when you sell your home, find out what we do different. Call us today to book an appointment to evaluate your property value. The Weintraub & Wallace team with RE/MAX Gold will always work for your best interests. Call 916-233-6759.
— JaCi Wallace
Is the Midtown Condo Market Ripe for Picking?
If you are shopping for a condo, you might be wondering whether the Midtown condo market is ripe for picking. Is there a particular segment where I could get a great buy? It just so happens I know where to shop, and I should as I’m a Sacramento real estate agent.
When an agents works full-time in real estate, she gets a close-up view of the market. More so than many other agents.
95811 Sacramento Midtown Area Condos For Sale / Trendvision Metrolist
The graph above shows more than 7 months of condos for sale, a high amount of inventory. This is the popular location in Midtown’s happening ZIP Code of 95811. Currently, eight units are for sale and there is approximately only one sale per month, based on Trendvision reports / Metrolist.
Location, location, location, you can walk to restaurants and to the Kings’ Arena. This is a fabulous area to buy real estate. So, when you ask if the Midtown condo market is ripe for picking, what do you think? Now, it is a bit pricey to live in Midtown Sacramento as the sold condos are $438,000, on average.
Are there other areas with a high numbers of condos for sale in Sacramento? Yes, in 95825. However, fewer than two months of inventory are available in this ZIP Code. Currently there are 32 condos for sale but over half sell each month. They are selling like hotcakes and at a very affordable average list price of $282,000 vs the Midtown condo market average list price is $644,000!
In which ZIP Code are surplus condos for sale in Sacramento? In 95811, hands down, an abundance of condos exist in the market. With abundance, demand decreases leaving opportunities to negotiate. For instance, in Midtown, only one condo sells each month. For the last four months only one sale closed each month. Six owners today wait eagerly to sell their condo. Do you think these sellers are getting motivated? Take a look, if a condo takes 210 days to sell in 95811, there is a window open to negotiate a good price.
The Midtown condo market is definitely ripe for the picking. For those of you tired of the suburbs and longing for nightlife, walking to restaurants every night and doing no yard work, this might be the new place to call home.
If you would like to purchase a condo in Midtown, it just so happens we have a beautiful condo for sale 2020 H St # C for $474,950 over 1300 square feet. To view this unit or any other condo in Midtown, please call Weintraub & Wallace Realtors at 916-233-6759.
— JaCi Wallace
How to Make Millennial Home Buyers Love Your Home
In doing research about whether Millennial home buyers will buy more homes than Baby Boomers, I found an interesting article posted by Forbes. These numbers in the referenced paragraph below were a surprise to me, no doubt. I’m a believer in adapt to your circumstances and evolve with the times.
“Millennials will continue to make up the largest segment of buyers next year, accounting for 45% of mortgages, compared to 17% of Boomers and 37% of Gen Xers. While first-time buyers will struggle next year, older Millennial ‘move-up buyers’ will have more options in the mid-to upper-tier price point and will make up the majority of Millennials who close in 2019.
“Looking forward, 2020 is expected to be the peak Millennial home buying year with the largest cohort of Millennials turning 30 years old. Millennials are also likely to make up the largest share of home buyers for the next decade as their housing needs adjust over time.” — Danielle Hale, Chief Economist for Realtor.com.
So let me expand on how this can impact the Sacramento real estate market. In my experience, Millennial home buyers do not crave the big square footage or the monster-size lots. They do not want high maintenance yards or a large property to clean with 4 bathrooms. They value free time and energy-saving features. Since Millennial home buyers are the biggest segment buying homes, then sellers should focus on some energy-saving features and planting low maintenance yards.
These are important key features. When you begin to think about remodeling, think of modern and modest clean lines in design and simple colors, nothing too ornate.
Millennial home buyers carry about 46% debt due to student loans, so costs are a big factor and affordability is key. Definitely, it is important for sellers to understand the types of buyers and what those buyers value in a home. Adding on more footage may not be important to these buyers, as less is more. Before you enlarge your home footprint — unless you are staying for 20 years — perhaps rethink additions.
Adding on may not be a wise investment. Because Millennials have decided they would rather have more time than more house. I see how they live in less space and they collect a lot fewer belongings. To some, owning a car is no longer primary as Uber offers affordable alternatives for transportation.
Weintraub & Wallace’s superior technology and online marketing is well received by Millennials; they embrace technology and we comply. Strong internet service and signal will matter to these buyers. We also use 360-3D tours and high quality photos to reach these discriminating buyers. Sellers, make sure your windows sparkle and your home is kept in excellent condition as this could help deliver windfalls for you.
Today’s buyers value amenities in the neighborhood and efficiency such as public transportation and a sense of community. Further, having fitness centers close by, alongside animal friendly parks and recreation, could be important considerations, especially if you may plan to resell in the future.
Millennial buyers also love upgrades, they pretty much expect granite and crown molding in a home. When you are ready to upgrade, features like this could help you to sell quickly. Better understand Millennials when you are selling. Personally, this Sacramento Realtor is excited as housing trends evolve and builders will begin to adapt and build homes that appeal to this generation.
Will Millennials buy more homes than Baby Boomers? It appears the answer is Yes! Weintraub & Wallace Realtors are happy to help you better prepare your home to sell and appeal to the Millennial buyer generation; call us today and find out how. 916-233-6759
— JaCi Wallace
Reasons to Check for Utilities in Vacant Homes For Sale
Working for decades in selling Sacramento real estate, I learned the hard way early on to check for utilities in vacant homes for sale. I took a new listing in Natomas this week. I sent an agent from our Weintraub & Wallace team to do a security check on the home. I’m scheduling vendors this week, such as a pest inspector, gardener, and the house cleaners. Vendors, of course, need lights working and electricity for the power tools. Power and water in good working order are mission critical on the listing preparation checklist.
Ok, so now it is time to get the red duct tape out of the trunk. Why? Well, to cover the dead bolt inside and the outside so Realtors do not jam the wrong key into the deadbolt and break the key! Yes, that has happened on my listings. The reason we have to tape the inside latch of the deadbolt is if an agent locks the deadbolt and exits out the garage door, we would be locked out of the house, as we do not have a deadbolt key.
Moreover, why do people have different keys on locks on the same front door anyway? Great question! Answer is, I don’t know as I keyed all my doors on my house to use the same key. This multiple-key issue on Sacramento homes for sale often causes complications as Realtors can struggle with keys. As a result, I try to make things as simple as possible for other Realtors, as not all of them are resourceful. Few check for utilities in vacant homes for sale, btw.
Next step, are the lights working? Bingo you guessed it, they don’t work! Our team is always prepared. This is why we check for utilities in vacant homes for sale. We bring new light bulbs to plug in, and make sure the lights are just not burned out.
However, in Natomas, the power was definitely shut off. There was no electricity connected to the property. So, the next step, always check the breakers. They were in the “on position.” Last and final step, many people are not aware of this secret weapon, there is a black button on the glass cover on the SMUD meter. Hit this button, you will hear the affirmative click and the power often resets!
The water is on, thank goodness, but if it wasn’t we would check the water main to make sure it was not turned to the off position. (Owners and or property managers often turn off the water main in a vacant home to ensure toilets don’t accidentally overflow.) The gardener needs the water and power turned on to power wash. Speaking about the gardener, we must also check that the gates are not padlocked. Our gardener has to get into the backyard to clean it up, so she must have access.
Back in my rookie days, this Sacramento Realtor received phone calls from angry vendors as they had no power and or water or access to do the jobs they were hired for. That taught me to not ever assume things work properly on houses. Double-check everything, that’s what successful listing agents do.
My motto always is be prepared for what doesn’t work. Expect the unexpected. Check for utilities in vacant homes for sale. We also each keep a kit in our trunks, containing things like duct tape, light bulbs, paper towels, soap, bottled water, gloves, flashlights and a basic tool kit.
More important, we know we must be resourceful as clients hire us to solve problems for them, and that’s why we always earn our 5 star reviews! We are full service Realtors. If you want listing specialists who are fully prepared to go the extra mile, call the Weintraub & Wallace team today at RE/MAX Gold Real Estate (916)-233-6759
— JaCi Wallace
What Virtual Staging a Home For Sale Looks Like
Virtual staging a home for sale can make a huge difference for sellers in many ways, but did you know it can increase buyer showings, too? As I always say: “if I don’t show it I can’t sell it.” I am about to show you a way to use staging a property with reduced costs of about $40 per photo.
Real staging can cost several thousand dollars. A property may not look as warm and inviting once the furniture is removed and this can make a powerful impression online. Take a look at the photo above. Can you tell that this is a virtual staging? There is not any furniture in this room. There is not a TV above the fireplace. These images are superimposed onto a high resolution photograph! See the original layout below.
The comparisons of virtual staging a home versus non-staged are so remarkable and fun. The next grouping will be of a master bedroom and the results are so obvious.
I use these photos to demonstrate what virtual staging can do. Of course, real furniture is the best choice but, it is not always in the budget. Even if it is affordable, a client may not be able to envision what staging can do. This is an opportunity for me to directly connect the seller’s vision with mine. When clients can view their own photos virtually staged, it is often the tipping point in her marketing choices. This demonstration will often result in the seller agreeing to staging a home for sale and approving the costs as a necessity.
The above and below photographs clearly show the incredible differences between virtual staging a home for sale and a vacant house. A picture is worth a thousand words or perhaps in this case a thousand dollars for furnishing two rooms that will make the largest impact on first impressions. As a top Sacramento Realtor using all available tools such as staging and virtual staging is part of our team’s multi-stage marketing plan.
If you would like to feature your home for sale using virtual photography technology, contact the Weintraub & Wallace team, as we use creative tools every day to successfully market and sell homes. Call 916-233-6759 today!
— JaCi Wallace
