Monday, August 30, 2010

That New Listing Feeling

There is all the planning, analyzing the competition, bringing out a staging expert and a professional photographer and trying to fit all the great details of an amazing property into the 500 characters allowed for the property description.

Finally the magical day when all the planning comes to fruition and the new listing goes live!

You’re pretty sure that with all of the work, planning and pricing, that Team Seller & Agent have an amazing offering. On opening day the activity is great and the feedback is all that you were hoping for. It looks like the public agrees with us and we’ve got a hit on our hands.

Since it’s such a good start to the week, I think I’ll try my hand at the Ratatouille recipe I’ve just found in September’s issue of Inside East Sacramento…
The Finished Dish!

Got to love that new listing feeling.

Thursday, August 26, 2010

Listing Price and the First Week

In response to my Pricing Your Home to Sell blog someone sent me an article on the Wall Street Journal about how critical the first week is for a listing. This article detailed out the number of online visits a listing received on their website and how that declined over time. Here is the graph and link to the article.

I keep a book of all the properties for sale in East Sac and update it when there is any change in status. Out of about 100 properties, about 10-15 make it into my short list of “great house, condition and location for its price”. Some houses will only make it onto the list after many price reductions over several months.

I was recommending one such property to someone at a recent open house and she had commented that she saw that house a couple months ago but wasn’t interested in it. She couldn’t remember why she wasn’t interested in it, just that she dismissed it and now it wasn’t worth looking at.

After talking about it we discovered that she liked the house when she first saw it, but thought it was priced too high to put in a reasonable offer on it. The high initial listing price made many buyers dismissed it, and then when its price was reduced enough to be reasonable, most people just remembered that they dismissed it and didn’t give it a second look. Between this phenomenon of remembering the rejection but not the reason and “it’s been listed for 90 days and no one else has bought it, so there must be something wrong with it” syndrome, a high initial listing price can be the greatest detriment to a property selling.

Monday, August 23, 2010

East Sac Eats!

One of the reasons I live in East Sac is that there are so many great places to eat here. I’ll do my little reviews of them as I continue to eat my way through this part of Sacramento. Dinner tonight is the answer to a day that started with showing houses and putting in offers and then went straight into holding an open house.
China CafĂ© delivery! If you blink you would miss them at 3653 J Street tucked between Bonn Lair and the Shabby Shack. Lunch specials here will run you $5-6 and you’ll have leftovers, and dinner is a great price for a huge portion too. Tonight’s delivery was 15 minutes and the food was great, as always. Shrimp Fried Rice and Sweet and Sour Chicken. Life is good!

Friday, August 20, 2010

Open House Sunday

Many of my Sundays are spent holding open houses. This Sunday I’ll be at 1055 57th Street from 2:00 to 4:00 showing a great East Sac house that just needs a bit of paint and refinishing the hard wood floors to make it shine. The price per square foot is amazing for the area with 1,730 square feet for $359,900.

Wednesday, August 18, 2010

Pricing your home to sell

I get regular questions on how to price a home to sell. Location and Condition are very important, but if it’s not priced right, it won’t sell.

This article speaks to many of the points in pricing, but I think it leans a little heavier on the Sold comps than the For Sale competition in the market. Most buyers will look at all the properties for sale and compare your listing to them and only after they have made the decision to purchase your property will it be compared to what has recently sold. If you aren’t competitive, you won’t ever make it to the point of being compared to past sales.

How to Use Comparable Sales to Price Your Home
Before you put your home up for sale, use the right comparable sales to find the perfect price.

Tuesday, August 3, 2010

My first blog

I’ve been told that blogging is good for the soul, so I’m going to give it a try. When I’m not holding open houses or previewing the newest listings in East Sac I’ll take a moment to post relevant (or not so relevant) thoughts that run through this Realtors head. :)