There are three ways to price your home when you are selling it: low, high and just right. The just right price is the one that brings in the buyers, generate excitement about the home and may lead to multiple offers which may drive the price up above that “high” price point.
Here’s your 1st quarter real estate market update for the Conejo Valley and it’s looking great out there! Home values are up from 4th quarter and things are selling more quickly too, about 1-2 weeks better on average. The Spring market is here!
Average price of sold homes
Westlake Village – up 15%
Thousand Oaks East – 12%
Thousand Oaks West – 10%
Agoura/Oak Park – 1%
Newbury Park – 1%
When we look at the data, the sweet spot for activity is definitely homes priced $500,000-$999,999, but overall 558 homes sold this quarter in all price points so our inventory is selling.
Days on Market tends to increase with price point (so the more expensive the home, the longer it takes to sell), but homes that are in great condition and staged properly are the most appealing to buyers and often have multiple offers within days of going on the market. Buyer are being picky and swoop up the good ones as they come onto the market.
It’s a great time to sell if you are thinking of doing so. Give me a call – I’d love to help: 818-383-4335.
It’s a HOT Real Estate market right now in the Conejo Valley. Are you ready to be a part of it? Are you thinking of selling or buying? Watch this for some helpful insight and then be sure to watch our other Tuesday Tip video about getting pre-qualified on a loan before shopping for real estate. Selling doesn’t have to be overwhelming. Let’s chat for 15 minutes because you may not need to do as much as you think.
It’s so important for your Realtor to get to know you and vice versa. Take a few minutes before you begin looking at homes to chat with your Realtor. Tell them your dream home wants and needs. Tell them about yourself and your family. The more your Realtor knows about you, the better able she/he will be able to find you that home you have always wanted.
It’s that time of year when people start looking for a new home. It’s exciting. It’s fun. It’s also a competitive market out there right now with multiple offers on homes that are updated and move-in ready. So how do you make sure you put forth a successful offer on the home of your dreams? Here are a few tips:
Use a Realtor with a proven track record
Not all real estate agents are the same. If you should be in a multiple bid situation, a good Realtor will present your offer in the best possible light and really sell your offer to the Seller. Some transactions fall out of escrow – in fact, more than you realize – so make sure you have a Realtor that will drive the transaction to close and protect your interests all along the transaction. How do you know if they have a good track record in closing transactions? Ask them. You can check their references too. But also do your homework and check out their ratings on Zillow and other real estate sites.
Use a reputable Lender
There are so many mortgage lenders out there. You probably know a few personally. But just because they are your relative or friend, doesn’t mean they are the best place to get your mortgage. You can shop rates and points, but please use a lender who will meet the transaction deadlines so your home closing doesn’t have to be postponed due to delays in processing or underwriting. Ask your Realtor for their trusted business lending partners or family and friends for ones they like and have used successfully.
Get a Pre-Approval Letter
Home buyers are often so excited to start looking at houses that they tend to leave the more bureaucratic aspects of home buying until last. In this competitive market, a serious buyer should get a pre-approval letter from their lender in advance of beginning a home search. It’s written statement from a lender stating that you qualify for a particular loan amount under that lender’s guidelines based on their review of actual bank statements, W-2 forms and other asset documents. This way you are shopping for a home you know you can afford and it lets the seller know you are a serious buyer.
A pre-qualified letter is not the same as a pre-approval letter and doesn’t carry as much credibility because it’s only based on what you verbally tell the lender rather than the lender reviewing your actual documents. I realize some people don’t want to share their personal information but you will have to at some point to get a mortgage so just get it over with at the start so you can truly enjoy the home shopping process.
I’ve dealt with a few multiple offers already this year. My advice to my clients who are selling is to choose the strongest offer. Please understand that a strong offer is not only the dollar amount offered but also whether the Realtor and Lender are ones that can get the transaction closed on time and work together as issues arise. I have trusted lenders in this business for a reason. I can rely on them for great customer service to my clients and because they do whatever it takes to meet the closing deadlines so a dream home doesn’t slip away to another buyer waiting in line. I have seen deals fall through because a real estate agent or the lender let deadlines pass without obtaining the necessary information or paperwork. So protect yourself as you go out there to get that house you really want. Good luck and happy home buying (with your pre-approval letter in hand)!
The real estate market is heating up here in the Conejo Valley. Let’s take a look at activity for the first two months of 2017.
The days of market actually represents the homes that were for sale in the last quarter of 2016 so we should start to see an improvement in these numbers as we head into the busy real estate season.
The Real Estate Market is starting to heat up here in sunny SoCal. Great homes are typically receiving multiple offers. So how do you make sure you are submitting the BEST offer you can in a competitive real estate market? Watch for my tips. There is an important difference between Preapproved and Prequalified mortgage letters.
We cannot thank the community enough for coming out to our 7th Annual Coats for Casa Pacifica Drive on Saturday, January 14, 2017 at Three Springs Park in Westlake Village. Over 450 people donated 2,500 coats to local kids in need. You rock! It was a beautiful, sunny winter day in Southern California – kids and adults alike enjoyed the 30 tons of snow we brought in for sledding and play, plus free smoothies and coffee for all! We had The Hideout Playground here with fun crafts for the kids along with everyone’s favorite Ice Princess saying hello.
We want to thank our sponsors: Zwaag Termite Control, Skinny Wimp Moving, Cheryl Meyers Insurance Agency, Healthy Pet, Michael Lang Design and the City of Westlake Village for a community service grant. We could not do this event without you!
Thank you to local area businesses for their support in donating raffle prizes and having collection boxes in their storefronts. Amazing community we live in here!
- BJ’s Restaurant & Brewhouse
- Brent’s Deli
- Fresh Brother’s Pizza
- Harley’s Bowl
- Hideout Playground
- Sky High Sports
- The Stadium
- Thrive Dance Center
Donation Collection Boxes:
- B&B Insurance
- BJ’s Restaurant & Brewhouse
- My Health Studio
- Keller Williams
- Orange Theory
- Thrive Dance Center
- Temple Adat Elohim