Do you want content like this delivered to your inbox?
Share
Share

Santa Cruz County Real Estate Spring 2019 vs Spring 2018

Michael Lavigne | CA DRE# 01782392

Michael Lavigne has been a resident of Capitola and Aptos for more than 20 years and is  recognized locally for his specific expertise in the marketi...

Michael Lavigne has been a resident of Capitola and Aptos for more than 20 years and is  recognized locally for his specific expertise in the marketi...

Dec 19 11 minutes read

The Santa Cruz County Real Estate Market Is Shifting:

Home sales, both in numbers of units Sold and Total $ Volume Sold started subtly shifting in late 2018. 

That trend has continued into the Spring of 2019. In Santa Cruz County, the trend is noticeable among several key indicators, including lengthened Days on Market and the number of homes that offer price reductions to entice wary Buyers. 

We prepared this infographic comparing  Feb/Mar/April 2018 with Feb/Mar/April 2019  to provide a quick snapshot of changes in local market conditions ➡➡➡

The Santa Cruz County Real Estate Market Is Shifting:

Home sales, both in numbers of units Sold and Total $ Volume Sold started subtly shifting in late 2018. 

That trend has continued into the Spring of 2019. In Santa Cruz County, the trend is noticeable among several key indicators, including lengthened Days on Market and the number of homes that offer price reductions to entice wary Buyers. 

We prepared this infographic comparing  Feb/Mar/April 2018 with Feb/Mar/April 2019  to provide a quick snapshot of changes in local market conditions ➡➡➡


Thinking about Selling in a Changing Market? 

Spring 2019 is Prime-Time For Listing Your Home in Santa Cruz County!

Below are five tips from Michael Lavigne to help sell your home in a timely manner in an adjusting Santa Cruz County Real Estate Market.


1. Establish a Realistic Asking Price From The Get-Go

In real estate, more showings are an inescapable prerequisite to more offers, and realistic pricing is an essential component for a successful outcome.

Pick a realistic starting price.

If comparable sales based on location, amenities and pricing illustrate that you are priced too high, or you wish to price a bit high to 'leave some room for negotiating' your home will take longer to sell.

If  you are tied to that strategy, you will nearly always chase the market and sell for less than if you had started closer to fair market value from the beginning. 

To sell for the best price, you must be dispassionate, step back with a Buyer's lens instead of a Seller's, and  view your 'home' as a 'product'.  

This is a difficult leap for many Sellers to make, but if you want to sell your 'product', you first need to move your price to a point where Buyers perceive value---then they will pounce.

2. Staging Your Home Is A Key to Success

 It used to be that staging was offered with only higher-end luxury homes, or new construction homes that lacked any furniture.  

However, staging is now commonplace at all price-points, and almost a prerequisite to success in an adjusting marketplace. 

The key to good staging is simplicity---you want staging to bring prospective Buyers to an emotional space where they can picture themselves in the home.  

We've listed some basic principles to follow below:

Vis-a-vis the competition, your home should 'shine' with light, neutral and fresh paint colors, and appropriate sized furnishings.  

Well-furnished rooms with correctly sized pieces will actually make a room feel larger than if it were either empty of furniture, or contains too many oversized items. 

Color choicess across the lighter spectrum of Grays, Beiges and Creamy Whites will make rooms look brighter and feel larger. 

They also produce a calming effect, and are adaptable to many different decorating styles. 

A professional stager can then use well-chosen accessories to add some visual punch, both in online photos and when prospective Buyers visit in-person. 

De-Clutter:  Remove "you" from the home (put personal items and photos away), and replace them with local scenery, framed postcards or prints, or feature the work of local artists.  

A good rule of thumb is to have no more than 3 items on any surface.

3. Curb Appeal Is Paramount

  • Curb Appeal is one of the single most important factors when getting your home ready for market.  Studies have shown that Buyers form first impressions within 90 seconds of pulling into your driveway, and every detail counts.  
  • - A basket or pedestal of fresh flowers at the entry provide a pop of color and can also offer pleasing scents at the entry
  • Updated  entry door hardware, and a high quality entry door, make a statement to potential Buyers before they ever enter the house. 
  • Even the mail slot and doorbell should be new, clean and functional.  
  • Garage Doors, which are a dominant element on the front of many homes should be new, or at least freshly painted, to give the front of the house added curb appeal
  • Siding and trim should also be freshly painted, and all windows washed inside and out.  
  • Exterior light fixtures should be replaced to reflect current styles, or existing fixtures should be  polished to make them appear like new, rather than faded and worn
  • Walkways and Driveways should be clean, sealed or resurfaced as needed, and free of stains and residue from winter storms.
  • Mulch your garden areas and flowerbeds with finely ground fir, cedar or redwood.  These areas should look abundant and freshened up, with weeds pulled and shrubs and trees pruned. 
  • Lawns should be mowed weekly, and sprinkler and drip systems need to be functioning on a regular schedule to keep the appearance of your property in prime condition.

4. Make It Beautiful Inside, Too.

Really, really beautiful. The homes that get strong and timely offers are those with look, feel and function that can be described in one word: covetable. 

You're not trying to create a situation in which your home barely edges out the listing down the street in the hearts and minds of your target buyer. 

If you want strong offers, you need multiple buyers to fall deeply in love with your home – enough to bid at (or even above) the listing price, and enough to compete with others for it.

If your home does not have high quality finishes, or the right set of amenities, or lacks a floorplan configuration that is in step with current trends, and your pricing is not adjusted to reflect those issues, it will not draw offers.  

 And that is doubly true if it is overpriced from the start.

Even with realistic pricing and attractive features, your home must be immaculately cleaned from the inside out – closets, basements, garages and crawl spaces included. 

All rooms, including the garage, should de-cluttered and staged to the nines – this includes fresh paint, updated flooring, good quality appliances, high quality furnishings and/or professional staging. 

Other things that need replacing must be in perfect working order – make sure things like doors, windows and systems buyers test (e.g., stoves, faucets, heating and air conditioning) are not creaky, wonky, leaky or otherwise dysfunctional.

If you've done any major home improvements or replaced any appliances or systems lately, market that!   

Show off how immaculate, adorable and move-in ready your home is right now – and be sure to tout its great working condition for the long run.

5. Adjusting Markets Are Unforgiving Markets. 

(Be Ready to Course-Correct)

Is your home one of the properties that has been sitting on the market for months without any action? 

Do not fret – course-corrections will have an impact. Don't let yourself get caught up, however, in a Sticky Pricing wicket, and end up chasing the market.

What is Sticky Pricing?

Sticky Pricing is the tendency of Sellers to relate the value of their home to what homes were selling for a year or more ago, when the market was red hot, rather than setting the price relative to what is happening in real-time, right-now.

Your Realtor should be following comparable sales and pricing trends, as do appraisers, loan underwriters, and most importantly, Buyers.  

Don't get caught up in a Sticky Pricing wicket---what your home may have been worth last year is not relevant in a market is adjusting.

And appraisers, underwriters and Buyers will not likely be fooled by it.


What's The Bottom Line?

The market is shifting, and your selling strategy should reflect that reality. 

You will ⬆increase⬆ the net gain from the sale of your home if you:

  • Get it ready to sell by putting it in superb overall condition 
  • Have well-maintained exteriors: freshly painted, up to date windows, a stylish entry.
  • Offer interiors that are immaculately clean and up-to-date--make it covetable! 
  • Opt for professional staging of interiors, and professional updates to landscaping to enhance curb appeal. Creating a strong first impression is critical.
  • Make certain your home is well-priced compared to neighborhood comparable sales.  

Pricing correctly is not complicated.  However, as a Seller you must check your emotions at the door, take a step back, and view your home from a Buyer's perspective.   

In an adjusting marketplace, setting a realistic starting price,  offering a covetable product, and staying comparable to pricing of other recently sold homes in the area are essential ingredients which will lead to a successful sale.

Thinking About Selling in 2019?

We make the best homes show even better!  

We are well-known in the local market for our differentiated approach to marketing and selling your home. 

Our services include subcontractor recommendations and in-house expertise for:

  • Staging Consultations 
  • Landscaping Updates 
  • Interior Design and Color Expertise 
  • Remodeling and Updates of Interiors and Exteriors

And we have a portfolio of showcase homes that we've sold, often with multiple offers, to prove it. 

We were the first local brokerage to offer the following services on all our luxury listings:

  • Video and virtual tours in both 2D and 3D
  • Professional High Dynamic Resolution photography
  • Twilight photograpy 
  • Drone tours of interiors and exteriors
  • Aerial photos that capture proximity to Monterey Bay 
  • Top quality brochures and graphic design presentations of your home  

And we combine all of that marketing expertise with a robust online presence via Facebook, Zillow, Trulia, Instagram, Google, Realtor.com and multiple other online real estate portals to showcase your home and attract more online visits, open house visits, and offers to purchase.

We live here, we love it here, and we stay up to date on the market trends here. We also follow neighboring trends in Silicon Valley, which has a direct impact on trends in our local market.

 We will keep you apprised of the best information available, whether you are planning to sell or buy property.

For a no-obligation consultation, contact Michael Lavigne directly at [email protected]  831-689-9784

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info