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Articles tagged with: Orange-County
We specialize in advising homeowners on strategic home improvements they can make to increase their net proceeds when they go to sell, so when a previous client reach out to us for help getting his home ready for market, we were ready for the task.
Our client acknowledged his property was in need of inspired improvement. We immediately got to work on the exterior, removing overgrown shrubbery and making wood repairs prior to a full exterior re-paint.
We took a paint brush to the interior walls and installed new carpets, select lighting, mirror and faucet replacements. To cap it off, we took on a deep cleaning of the home and windows.
We listed the freshly prepared home on a Thursday at noon time. COVID-19 restrictions mean we still cannot host public open houses are allowed, but in the next few days scheduled 25 private buyer showings.
We ended up with three inspired homebuyers who made offers. After careful review and consideration of multiple factors, our client selected a buyer escrow for $10,000 above our increased asking price (we raised the price $10,000 the day prior to going on the market).
In the end, the seller spent approximately $18,000 on improvements to prepare the home for the market. By our estimates, his investment easily resulted in 3x cash return on the sales price of the home.
The Redux method has been proven time and again to result in both a faster sale and a higher sales price. We are believers in putting in the effort up front to have a positive and more favorable outcome for the seller.
When a past client from nearly 10 years ago contacted us to assist with the sale of his home in Tustin, we were thrilled to be trusted and for his loyalty.
He acknowledged that the home could stand for a bit of inspired improvement, and Martina was just the person to coordinate our efforts and oversee those improvements.
Due to the seller’s out of state moving schedule, we started the redux on the exterior of the home beginning with major growth and shrub removal from the backyard.
This was an impactful change as the yard had become overgrown and neglected, the owner liked the way the prior growth provided privacy for him but we knew it needed to be cleaned up to best show the size of the yard, and to allow more light into the home.
The client was entirely open to our ideas and suggestions and the work proceeded. The entire exterior of the home was repainted as well, but prior to the paint termite and wood rot repairs were completed.
Once the client moved out of the home, we were able to finish the interior improvements within three weeks’ time, which included: interior paint, new carpet, select lighting, mirror and faucet replacements and a deep cleaning of the home and windows.
Once ready for customized staging, Martina completed that task beautifully and made the home both feel more welcoming and feel much more modern than its 1968 age would normally show.
We completed the Redux by hiring our professional photographer to take beautiful photo and to complete a Matterport virtual tour.
Will our inspired improvements be enough to inspire a buyer to make an offer? Check back with us for the outcome of this significant Redux.
We wanted to share an update with homeowners like you on the current market conditions in your neighborhood.
Despite the challenges of coronavirus, and perhaps because of them, we've witnessed an unprecedented year for real estate 2020 driven by strong buyer demand. We've had multiple offers on many of our listings.
We endeavor to be experts in the presentation aspects of a home because it has been demonstrated time and again that key investments can trigger the attention of home buyers and produce higher returns in fewer days on market.
COVID-19 has impacted the economy across the board.
The economic data prior to the Coronavirus was pumping on all cylinders. Consumer confidence, consumption, unemployment, housing, stocks, leading economic indicators, everything was pointing to a phenomenal 2020. After the virus broke, every chart was impacted severely. Housing was no exception.
Experts have been debating what the economic recovery will look like. Initially some experts were calling for a quick rebound, a “V-Shaped” bounce. That is when the economy rises nearly as fast as it falls.
Yet, with more time to reflect on all the data, most experts now agree that it will be a “U-Shaped” recovery, one that after hitting a bottom will slowly but surely turn upward.
The best analogy is a dimmer switch. As the dial is slowly turned, the economy will continue to accelerate until one day it is pumping on all cylinders again.
Housing is proving that it is an exception and is currently experiencing that “V-Shaped” recovery with demand soaring 38% in the past two weeks. How can that be?
The sleeping giant has awakened. Even though life as everybody knows it has ben turned upside-down and California has only moved to “Phase 2,” record-low interest rates are instigating demand. Donning masks and gloves, buyers are viewing homes again and making offers.
Prior to the “stay at home” order in mid-March, housing was a sizzling hot Seller’s Market with extraordinarily little inventory and unbelievable demand.
It was the hottest start to a Spring Market since 2013, a Spring to remember for Orange County housing. Low mortgage rates, average 3.75%, was stoking the fire of demand. When the virus hit, demand plunged, and the market slowed.
Now that it has been a couple of months, flattening the Coronavirus curve has been successful so far. Slowly but surely more of the economy is coming back online. As a result, eager buyers who had been sitting on the fence waiting to purchase are jumping back in and ready to take advantage of record low mortgage rates at 3.25%.
In the past couple of weeks, demand (the last 30-days of pending sales) jumping from 1,172 pending sales to 1,622, a 38% rise. It was last at this level in mid-January.
Typically, during this time of year demand has already peaked and it does not change much at all. Not this year. Demand is in recovery mode and the sharp increase indicates that it is “V-Shaped.”