California Real Estate Home Buying & Selling Tips
June 3rd, 2008 by Petaluma Homeowner
Having been through both buying a new home and trying to sell our old home in the California real estate market of 2007, here are some tips to help you as you begin your home buying or home selling journey:
CALIFORNIA REAL ESTATE - SELLING A HOME
- Find a reliable realtor you can work with who understands what you want when selling your home.
- Make sure your realtor has pricing for all similar homes in your area then price your home competitively. Do not over price your home to get back what you added to it, be reasonable and listen to your realtor when it comes to price. Whenever possible price your home lower in comparison to your competitors.
- Have a home inspection completed prior to putting your home on the market. This shows you mean business when selling your home. Have copies of the home inspection available for potential home buyers. The home inspection report will show you the cost of repairs you need to complete prior to selling your home to a buyer. You also will have this step out of the way when a buyer is eager to buy your home.
- If you have moved out of the area provide your realtor with contact information for the contractors making repairs prior to putting your home on the market. It is in the best interest of the realtor to have the repairs completed before showing the home.
- If you are selling your home and have already moved out of the area, ask your realtor to take digital photos to email to you showing the progress of the contractor repairs.
- If you are selling your home and have already moved out of the area, have a phone meeting set once a week with the main contractor to touch base on the status of home repairs.
- Use one contractor as your main person who coordinates repairs for the home, this way they will know what has and has not been completed.
- If you are still living in the home while showing it make sure to pack up as many items as possible and store them offsite. Think in terms of a buyer; personal photos and excess knicknacks divert the eye of the buyer. Make sure the paint colors inside and out are neutral. Always give the buyer the opportunity to see themselves living in your home.
- Paint the home inside and out. A fresh coat of paint always makes the home look better. You want to give the impression of clean and tidy. Make sure your home is spotless when showing.
- Stage your home prior to putting it on the market. This is especially helpful if you have moved out of the home already. Some basic staging will help buyers see the potential of the empty spaces in your home.
- If you are selling your home then buying a new home, renting may be a way to cope with the current market. If the home market looks bleak consider renting out your home for a year or two. Hire a property management service to oversee the rental of your home, the pricing is generally reasonable and it will take the stress out of renting your home. Some money to pay the mortgage on your home is better than no money while your home sits on the market. Waiting for the market to upswing may give you the opportunity to make the amount of money you deserve when selling your home.
CALIFORNIA REAL ESTATE - BUYING A HOME
- Find a reliable realtor you can work with who understands what you want in a new home.
- Make a list of items you want in your home before looking at new homes. Realize there may be a few items you have to compromise on; you may or may not find everything you want within the budget you have for a new home.
- Do not set your heart on one home during home tours; always have three to four homes at the top of your list you can choose from. Often there are problems either with escrow, realtors communicating, pricing, etc.
- Be aware of the negotiation involved with buying a new home and the possible problems that may arise from a home inspection. Some home inspection report findings can be a deal breaker when it comes to the final sale.
- If your realtor is having problems stemming from the home seller’s realtor, start looking at your other home options. Letting the other realtor know you are actively looking at other homes may help to solve these types of problems.
- If you are in escrow and realtor problems arise as above, home inspection problems are always a reason to choose to leave escrow. Ask your realtor about this and do not put yourself through the ringer. Buying a home is hard enough to do without extra problems from the home sellers. This is a buyers market and you should be able to obtain good opportunities from home sellers.
- Find reliable contractors to complete home repairs needed to be completed from the home inspection report.
- Make sure you go through the home you want to buy at least two or three times. Once in escrow, take a measuring tape with you to see if specific items will fit in your new home.
- Take a tour of the home without the home seller present since they will talk too much and distract you from your purpose. Bring a digital camera with you on your second tour to photograph areas of the home so you can revisit it later on.