When Is the Right Time to Make Upgrades?




Pretty much every time I meet with a homeowner that wants to sell their property, they want to know what they can upgrade to increase their sale price. I always recommend making small repairs and sprucing up your property before you sell. However, I don’t really encourage my clients to make big upgrades right before selling.

Big upgrades should be reserved for those homeowners who live in their home and are not thinking about selling. If you’re going to make upgrades to your property, you want to be able to enjoy them yourself. Making upgrades right before selling is counterproductive because not only do you not get to enjoy the upgrades, you likely won’t be able to recover 100% of the money you spent, and you definitely won’t get more back than what you put in. It just doesn’t make any sense.
“
Don’t make upgrades you won’t be
able to enjoy.
”


The best time to make upgrades is when you can afford them, of course, but also when you have time to enjoy them. If you’ve always wanted stainless steel appliances or a granite countertop, get it so you can enjoy it. When you do decide to sell, at least your home will be upgraded and you will get to enjoy it. You won’t get what you spend on upgrades back if you make them right before you sell.

If you have any questions for me or any suggestions for future video topics, give me a call or send me an email. You can also comment below. Either way, we would love to hear from you soon. Until then, happy selling!
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Location: Orange County, CA, USA

The 3 Reasons Why Most Escrows Cancel



Escrow is canceled for a number of different reasons. The biggest one is the most avoidable- emotion.

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There are many different reasons why an escrow may cancel, on both the buyer and seller sides. However, in my experience, there are three primary reasons escrow is canceled:

1. The appraisal. Every time I work with a client, I let them know we have to sell to the buyer, to the agent, and to the appraiser. It’s important for you to know that buyers who obtain financing will have an appraisal. The bank or lender that loans them money needs to make sure they have collateral for their money. If they think you paid too much, they will let you know. When that happens, the deal may fall apart.

2. The inspection. A lot of times, buyers don’t realize how much work a home might need until their offer has already been accepted and the inspection has been completed. If a seller and a buyer can’t come to an agreement on what repairs the seller will make, the transaction will fall apart and escrow will be canceled.

“
Emotion is the biggest reason escrow
is canceled.
”


3. Emotion. This is the biggest reason that escrow is canceled. I have seen so many buyers get emotional, scared, or nervous, and simply cancel the transaction.

The message today is to understand the different reasons why escrow may cancel and how important it is to work with a good agent who understands the buying and selling processes in greater detail.

A lot of buyers have regret about canceling escrow. Working with a professional is so important because they will guide you through the transaction and any hiccups that might happen along the road. We are always here to help.

If you have any questions for us, comment below, give us a call or send us an email. We would love to hear from you. Until then, happy selling!
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Location: Orange County, CA, USA

What Can the Power of Demand Do?




I wanted to share a little story with you today that happened about a month and a half ago. I took a new listing in an area with very little inventory. In fact, this property was only one of two in the entire community for sale. I knew the listing would go quickly and I knew it would go for a great price because there weren’t a lot of other options, and because the law of supply and demand dictated it.

The last time this property sold was for $850,000. I priced the property for $880,000 because it had some upgrades, and features that the other home for sale in the community didn’t. We thought that it was a very reasonable price, and we expected to get the full asking price. We got five offers in two days and much to our surprise, one of them was a cash offer of $900,000.

“
We got five offers in two days.
”

We were not expecting that.

The fact that this was a cash buyer was great too because we didn’t have to worry about any hiccups down the line. Many sellers focus on what the home has sold for in the past. I wanted to bring this example to you because it shows that sometimes it doesn’t matter what a home has sold for in the past. A home is worth what a buyer is willing to pay for it. In an area with high demand and low supply, your expectations might just be exceeded as a seller.

 If you are working with a property or thinking about selling a home in an area with high demand and a low supply, give us a call or send us an email. We would also love to hear from you if you have any questions or suggestions for future video topics. Until then, happy selling!
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Location: Orange County, CA, USA

Why Consider All Offers When Selling?



When people are encouraged to submit an offer, they will. Especially if you write in that you are considering all of them.


I’ve been experimenting with some verbiage lately when listing a property on the MLS, and I’ve seen some pretty positive results. I write on the listing that the seller is, “Extremely motivated and considering all offers.” A lot of people are hesitant to say something like this because they don’t want to get flooded with lowball offers and buyers just looking for a good deal. However, I am finding that this technique helps generate more offers overall.
“
Having more offers is a good thing.
”


More offers equal a higher chance at a bidding war. I would say that 35% to 45% of the multiple offers I receive are good to great offers, and the rest aren’t. As a listing agent, I can leverage the lower offers to get the better offers to either come up in price or improve their terms so you aren’t leaving any money on the table.

Many people out there that will submit a bad or low offer sometimes don’t because they don’t want to offend the seller. When you encourage them to submit it, that means you are encouraging more offers. Listing agents and sellers like options. Have your agent write in the exact passage I mentioned above and I think you’ll see an increase in activity, offers, and the final sale price.

 If you have any questions for us, we would love to hear from you. Share this video with anyone you know that is selling, too. We look forward to continuing to bring you helpful information in the future. Until next time, happy selling!
Labels:
Location: Orange County, CA, USA
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