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Sellers: It’s Risky Pricing too High – Market Value Strategies

Every seller wants to get the best deal for their house—especially when you consider that as much as $500,000 in profit can be earned tax-free. So why not just price your house to the moon? After all, you can just bring it down later, right?

Well, there are a few problems with that. If you price high and then slowly start bringing it down…and down…and down…buyers are going to notice. It makes that home start to seem like it’s in a bargain bin. You want your home to appear like a deal, not cheapened goods. When it sits on the market for an extended time because of overpricing, buyers are going to wonder why. Would you feel urgency as a buyer if you read that a property was listed 180 days ago? Probably not.

To set a realistic price, consider these tips:

  • Do your due diligence. What have houses like yours sold for when the deal was made in a reasonable time? And what were the original prices of those homes?
  • Have an honest discussion with your real estate agent. He or she knows the area, and wants to sell your home as quickly as possible for the most competitive price. What does he or she think is reasonable?
  • Be an assertive seller, but don’t overplay your hand. Remember, the little extra money you hold out for may not be worth the six months or year of mortgage payments you’re stuck paying in the meantime!

Timing is equally important in the real estate marketplace. Home prices are constantly fluctuating with the dynamic forces of the local, national, and global economy. No real estate associate can control these forces. However, your RE/MAX associate will research and prepare a detailed “Market Analysis” of your property. Your market analysis will compare all other sold and currently listed properties in similar locations, characteristics, amenities, and condition  to your home. Together, your RE/MAX associate will help you interpret the data and make an informed decision as to where your home should be priced.

FAIR MARKET VALUE PRICING will enable you to reach 95% of the buyers searching for your home’s criteria.  JUST 15% above fair market value will decrease your buyer pool to 20%.

When you’re ready to start the process of buying a home, RemaxAllPro.com will be ready to help.

December Housing Report

November became the sixth month of 2017 to post an increase in year-over-year home sales, bucking prolonged trends of home price increases and inventory declines, according to the December RE/MAX National Housing Report.

The sales increase of 1.1% came on the strength of increased transaction closings in 36 of the report’s 54 markets. At the same time, buyers felt increasing headwinds as the Median Sales Price rose to $227,500 and marked the 20th consecutive month of year-over-year home price increases. In fact, the Median Sales Price has increased year-over-year in 69 of the last 70 months dating back to February 2012.

November’s inventory decline of 14.5% extended the streak of consecutive months of fewer homes on the market to 108. The current streak started nine years ago, in November 2008, shortly after the RE/MAX National Housing Report was introduced.

Find the complete report here

Happy Holidays!

On behalf of everyone at RE/MAX All-Pro, we want to wish our community a joyful holiday season and a prosperous New Year!  We are eternally grateful for the bountiful blessings bestowed upon us in 2017, and we hope you are all able to take the time to reflect on the things you are thankful for, as well as your dreams and goals for 2018. The holiday season reminds us that our relationships—whether it be with family, friends, coworkers, or even people we interact with for only a short time—are what truly make life meaningful. Wishing you all a happy, peaceful, and successful New Year.

– Keny and Cheyanne Terracciano

9 Ways to Make Guests Feel at Home for the Holidays

The holiday seasons means a flurry of activities and family time. Here are some easy ways to make sure you and your guests are comfortable through it all.

1. Sticky-roll the furniture. Have your pets been sneaking a nap on the couch when you’re not looking? Make sure to de-fur the furniture before anyone has to sleep on it.

2. Test your air mattresses for holes. There’s nothing worse than falling asleep on an air mattress and waking up on a deflated tarp on the floor.

3. Pile kids into one room. They’ll love feeling like they’re at a sleepover.

4. Gather all of your old phone chargers. It’s one of the easiest things for travelers to forget to pack. Have your old chargers on hand, and you may save a guest a trip to the store.

5. Make the Wi-Fi password readily accessible. An easy way to do this is to print out the internet information on a notecard for each guest room.

6. Designate a snack and beverage hub. To avoid people tripping over each other at the fridge and during crucial food-prep times, set up a station away from the kitchen – maybe in the study – where guests can grab coffee and a bagel (or the like!) at their leisure.

7. Stock all the bathrooms. Everyone will feel better having all the bathroom essentials on-hand, including towels and washcloths, common toiletries, toilet paper, and, of course, a toilet brush and plunger. No one wants to announce they need a plunger!

8. Let them pitch in. Most guests want to help out somehow. Have everyone pick a regular task they’re willing to be responsible for, like walking the dogs, taking out the trash, making breakfast or doing the dinner dishes.

9. Relax and enjoy yourself! Set the tone for your guests. Do your best to look past the chaos and make the most of the time with family and friends.

An extra bedroom, closet or bathroom can go a long way around the holidays. Is it time you had more space? Find a local RE/MAX agent here who can help you find the right place for you.

November Housing Report

Despite record low inventory for the month, October home sales increased 2.5% year-over-year and kept 2017 prices ahead of 2016, according to this month’s RE/MAX National Housing Report.

Thirty-seven of the 53 metro markets in the November RE/MAX National Housing Report posted sales increases over October 2016. Meanwhile, inventory gauges were at their lowest point for an October in the report’s nine year history. The Months Supply of Inventory dropped to 3.3 – the lowest for any October in this housing report. It was mirrored by the Days on Market average of 51 days, also a new low for October for the report and a full week faster than the selling rate of homes in October of last year.

The Median Sales Price of $224,000 increased 3.3% over last October and was $19,000 higher than the same month in 2015. The median price remained on a par with the prices of last spring that kicked off the peak summer selling season.

Find the complete report here

Open House Showcase – Nov 5

Sunday, November 5th, 11AM – 3PM :
Join us for AV Home Tours  |  RSVP on Facebook >

RE/MAX All-Pro invites you to come FALL IN LOVE with our featured homes for sale in the Antelope Valley! With so many listings to view at our company-wide OPEN HOUSE SHOWCASE, you’ll be sure to find the home of your dreams with a RE/MAX agents’ guidance.

View Now! tours.remaxallpro.com

Living Lagom: Three Steps to Creating your ‘Just Right’ Home

Just as hygge becomes mainstream, a new Scandinavian trend is hitting lifestyle blogs, websites and even the world’s largest furniture retailer. Have you heard? 2017 is the year of lagom.

It seems Goldilocks had it right all along — loosely translated from Swedish, lagom means “not too little, not too much, just right.” This applies to finding balance in all aspects of your life, including your dwellings.

Are you looking to achieve a “just right” home in 2017? Here are three easy steps.

The Right Amount of Space

The first step in creating a lagom home is finding the right amount of space. Whether it’s a single family home, condo or a home with a much smaller footprint, more American homebuyers are choosing to live in less square feet. In fact, the lagom lifestyle is in line with many of the amenities that millennial home buyers are looking for. Gone is the desire for a formal dining room that may only be used on holidays and large outdoor spaces that take time and money to maintain. When looking foryour lagom home, make sure you look for a space that fits your needs and nothing more.

The Right Amount of Furniture

Now that you have found your “just right” space, it’s time to furnish it. Take a note from professional home stagers on this one, the size of the furniture is just as important as the amount of furniture in a lagom home. While shopping, look for pieces that don’t overpower your space, that are just as useful as they are comfortable.

The Right Amount of Décor

Millennials seeking out minimalism will gravitate to lagom home décor. The focus is clearing clutter and keeping only items that you need. That doesn’t mean going in full Marie Kondo mode, but it does mean spending time on determining what items are important to you and what items fit in your space.

When searching for your “just right” home, it helps to work with a real estate professional. Find your local RE/MAX agent here.

October Housing Report

September became the fifth month this year to post a decline in home sales compared to a record-setting 2016, while marking the 71st consecutive month of rising sale prices year-over-year, according to the October RE/MAX National Housing Report.

Find the complete report here.

5 Things to Think About When Buying Your First Place

As a renter, you have the luxury of choosing a place that meets your needs at the moment.​ Buying a home is a much bigger commitment, both in terms of finances and the length of time you’ll likely live there. When seeking out your first place – whether a house or condominium or anything in between – it’s important to do your homework.

Here are 5 things to consider as you begin the process of purchasing your first place.

1. The growth possibilities. Shop for a place that meets your current spaces needs, but also consider one that can adjust to a changing household. A five-year plan may not pan out as you expect, so think about possible life changes that could impact your need for bedrooms, bathrooms and square footage.

2. What’s under the hood. Your first place may not come with many frills or luxury features – but all the basics should be in good condition. Thoroughly inspect prospective properties. And before any purchase is made, hiring a professional inspector is a must. Your real estate agent can guide you through this key step.

3. Know that no home will be perfect. Your first home may likely not be the perfect place. But make it the right one. Finding the right home is often a matter of prioritizing. Make a list of “must haves,” along with “nice to haves” and “not necessary to haves.” A three-car garage is nice, but would you rather have a larger kitchen or live in a good neighborhood? Only you can measure the importance of the amenities you are looking for.

4. Consider ALL the costs of ownership. When you buy a home​, you take on recurring costs you don’t have to worry about as a renter. Look for a home that meets your budget in terms of full living costs – mortgage, utilities, trash pick-up, sewage fees, homeowner’s association dues and other fees. Your lender doesn’t take into account these costs when approving your home loan. A good real estate agent can help you calculate estimated monthly costs to determine the most appropriate price range for you.

5. The lifespan of things. In addition to identifying cosmetic and structural flaws before you buy, know what to expect from the home’s components. How long until you need to replace the roof, appliances, furnace or carpet? Everything may be in working order now, but all homes need these types of repairs at some point. Researching the expected remaining life on large-ticket items can help you plan for the future.

When you’re ready to start the process of buying a home, RemaxAllPro.com will be ready to help.

September Housing Report

U.S. home sales in August extended a summer of strong demand and weak inventory that once again resulted in listings with short shelf lives. In addition to the normal late summer real estate trends, a primary focus during the next month will be on housing in specific markets affected by natural disasters like devastating wildfires and hurricanes Harvey and Irma.

The RE/MAX National Housing Report shows August sales topping July by 2.8%, but finishing 0.84% below August 2016 which remains the best August in the report’s 9-year history. Houston, where Hurricane Harvey made landfall on August 25, already experienced a 21.3% drop in sales from July and a 27.5% decline year-over-year.

Inventory in the report’s 54 markets declined 3.9% from July and 13.7% from a year ago, driving Days on Market to drop to 47 – the fastest listing-to-sale average for any August. The Months Supply of Inventory, while continuing to rebound from a May low of 2.6, settled at 3.1 months and set another report record for August.

Find the complete report here.