Who’s Winning in the San Diego Real Estate Market Right Now?
With low inventory, high interest rates, how can a buyer or seller achieve an advantage in this competitive market? Below are my top 3 tips for byers and sellers.
Sellers
You're priced slightly below market value
Your home is available for showings all weekend
Your home is clean and shows no signs of deferred maintenance
Pricing is key in this market. Listing just below market value will bring in the largest pool of buyers, creating the best possibility for multiple offers (giving you the highest price and best terms possible); the goal is to get as many qualified buyers in to see your home... which also means it has to be available! Make plans to go out of town, or spend the day with family/friends to allow for as many showings as possible. And don't forget how important your home's first impression is; there shouldn't be any smells, the home should be tidy, and should show as well-maintained. At current market prices, buyer's don't want to do the work. They want a turnkey, move-in ready home.
Buyers
You're pre-approved and actively working with a lender
You've cleared your calendar and are ready to see homes when they first hit the market
You're familiar with a purchase contract and the average timeline of an escrow
When the right home comes on the market you need to be able to move quickly, especially if you're looking for move-in ready, turnkey homes. You should also be familiar with the purchase contract and general timeline; in this market contingency periods are usually shortened, often requiring inspections to be completed within the first week.
