San Diego Archives - KYLE STANLEY

How to Sell Your House and Buy another at the Same Time!

02/09/2016 by admin Leave a Comment

Is the house you’re in now too small for your growing family? Perhaps the kids are finally in college and you’re ready to downsize.

Are you thinking of moving, but want to sell your house first, and use the proceeds to buy the next one?

Most every homeowner has substantial equity now – transferring it to the new home is best accomplished by selling and buying concurrently.

But when potential sellers casually look around at the standing (unsold) inventory, they don’t see anything worth the bother. If a good listing does pop up, the listing agent doesn’t want to consider your offer that is contingent upon selling your home that isn’t on the market yet.

Due to the lack of inventory for San Diego coastal real estate along with historically low interest rates, now is an excellent time to sell your home.

So how can you sell your home, buy another and not get stuck making 2 mortgage payments?

The short answer is to list your home and accept an offer contingent on you finding another home. A contingency under normal circumstances can weaken your position with the buyer. In other words, you might not get as much for your home as you wanted because you’re making them wait to take possession. But in today’s San Diego coastal real estate market inventory is very low. Buyers are lining up to purchase good San Diego homes that are priced fairly. Every day we’re seeing multiple offers. They really don’t have any other choice but to accept your contingency!

If it is easier selling than buying, how can we pull off both?

1. Trust that there will be new and better choices coming to market.
2. List your home with us, subject to finding a suitable replacement.
3. We’ll find a buyer for your home who is willing to wait 30-60 days.
4. Be as flexible as possible on the criteria of the next home.

OK but If I sell my home on contingency then don’t I become one of the buyers trying to find a home with limited inventory?

Yep! You can’t have it both ways! We’ll need to discuss where you want to move to and whether you’re moving up or down in purchase price.

Remember….your home is in escrow contingent on finding another. Your “ace in the hole” is the fact that you don’t have to sell your home.

Recently, we have done a couple of these successfully. With the tight inventory, buyers are being more flexible about timing. They are already starting their search well before their lease is up, and a slightly-longer process (1-2 months) can suit their situation too.

It helps to see houses in person. Let’s take a tour of the latest listings that might suit your needs, just to get a good feel of what to expect for the money. The personal tour will help get you familiar with the process too.

•It helps to have your house ready to sell. Have us over for a consultation of what tune-ups you might needs to maximize your selling price.
•It helps to have an agent who represents buyers and sellers. If you have different people on each end, the comfort level isn’t the same – and you don’t get a package deal on the commission.

Of course neither you nor I want to waste each other’s time with you having to keep your property in model home condition every day while we continually market it for sale only to end up not finding another home and having to cancel our listing!

Contact us and let’s see if this makes sense with your specific situation. We need to determine how much cash you’ll have with the sale of your home and ultimately….how strong of a buyer you’re going to be!

Carmel Valley Inventory is Tightening

02/02/2016 by admin Leave a Comment

THIS WEEK

This week the medium list price for San Diego, Carmel Valley 92130 is $1,299,000.

Inventory is tightening and days- on-market is falling. The Market Action Index (MAI) shows demand heating up. These are relatively bullish signs for the Carmel Valley real estate market.

SUPPLY AND DEMAND

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in a Seller’s zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

PRICE

Carmel Valley home prices seem to have settled around a plateau. Look for a persistent down-shift in the MAI before we see prices deviate from these levels.

MAI (Market Action Index)

The Market Action Index answers the question “how’s the market?” by measuring the current rate of sale versus the amount of Carmel Valley homes for sale. Index above 30 implies seller market conditions. Below 30, conditions favor the buyer.

For additional information please call Chris & Kyle at (858) 213-9999. Thank you!

Buyers are Strong in Rancho Santa Fe!

11/09/2015 by admin Leave a Comment

THIS WEEK
The median list price in Rancho Santa Fe, CA 92067 is $3,236,500.

Even though the days-on-market is trending higher, so is the Market Action Index (MAI) at these inventory levels, providing a neutral outlook for the Rancho Santa Fe real estate market.

SUPPLY AND DEMAND
The MAI has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see a downward pressure on pricing. If you’re considering purchasing property in Rancho Santa Fe now may be an excellent time!

PRICE
Rancho Santa Fe real estate prices seem to have settled around a plateau. Look for a persistent down-shift in the MAI before we see prices move from these levels.

MAI (Market Action Index)
The Market Action Index answers the question “how’s the market?” by measuring the current rate of Rancho Santa Fe home sales versus the amount of inventory. Index above 30 implies seller market conditions. Below 30, conditions favor the buyer.

San Diego Coastal Real Estate Trends

10/06/2015 by admin Leave a Comment

Kyle and I were doing a bit of market research recently and found some information you might find helpful.

The expert analysts over at Keeping Current Matters have filed their report for the Fall of 2015, and it confirms things are looking up in real estate.

According to numbers gathered by the Federal Housing Finance Agency (FHFA), home prices have risen in every region since this time last year.

The FHFA report shows that every state is appreciating at a different rate. While some states are experiencing more rapid appreciation than others, there is a very good chance your home has gone up in value regardless of where you live.

The above map is just a general overview of home appreciation by state. To get a more specific idea of how much your home has appreciated, we recommend using our free home evaluation tool.

You might be surprised by how much your home is really worth. Simply follow the link: Free Home Value Report

This broad home appreciation is indicative of a recovering market. As home prices recover, and even rise above their pre-recession levels, the market will begin to normalize.

According to the Home Price Expectation Survey, by the end of this year, values will have appreciated by 4.1%. Next year, prices are expected to rise 3.7% before flattening to just over 3% from 2017 to 2019.

This expected slowdown in home appreciation is the result of a normal, healthy market.

As a homeowner, now is a great time to cash in on the equity you’ve built in recent years. With interest rates as low as they are, there is no better time to sell your current home for top dollar and lock in an incredibly low rate on your new one.

Obviously, whether you’re ready to sell is ultimately up to you. We just wanted to let you know how favorable the market is for sellers right now.

If you’ve been waiting for ideal market conditions to sell, it won’t get much better than this.

Again, if you’re simply curious about how much your home’s value has increased in recent years, don’t hesitate to use our free home evaluation tool: Free Home Value Report

If you’re really serious about taking advantage of these great market conditions, and want to begin the home search now, we’ve got you covered as well: Free Home Search

Or, if you’re unsure about what to do and would like more information about the San Diego market, give us a call or send an email! It’s our job to keep you in the loop with what’s going on in our area, and we would love to hear from you!

Are Home Prices at Their Peak?

08/17/2015 by admin Leave a Comment

Over the last couple of years we’ve been in a rapidly-appreciating real estate market. Sellers were simply waiting for prices to catch up. But now that prices have been fairly flat, the wait could last a long time. It is a real possibility that this will be the peak for the foreseeable future.

Almost half of the active listings between La Jolla and Carlsbad have been on the market for more than two months. Their unreasonable pricing have caused them to miss the “selling season” and the sellers are now left wondering when/if that serious buyer will come along.

If you are patiently waiting for the “right buyer” to come along, no problem. But for those sellers who want some real guidance about what it will take to get your home sold in the next few weeks, consider these;

Common-Sense Pricing:

A. If you are getting offers, then your list price is probably about right.
B. If you are getting lookers, but no offers, then your list price is about 5% to 10% too high.
C. If you don’t have any buyers looking at the home, your price is more than 10% off.

Buyers love to look at the days-on-market statistic. For every week your house is on the market, buyers are mentally subtracting about 1% from your original list price.

As a result, sellers should lower their price by 5% every 2-4 weeks until they start getting offers.
An exciting price creates urgency and enthusiasm among both buyers and agents. Without it, your listing goes stale quickly, usually after two weeks – and after that, many of the showings are for comparison to help agents sell the better-priced house down the street.

In addition, concern is growing over pending interest rate increases. What will that do to pricing? Will buyers jump off the fence while rates are still historically low?

Make sure you get good help!

It’s a Seller’s Market in Carmel Valley!

06/05/2015 by admin Leave a Comment

THIS WEEK
This week the medium list price for San Diego, Carmel Valley 92130 is $1,462,500.

Demand measured by the Market Action Index (MAI) is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the Carmel Valley Real Estate market.

SUPPLY AND DEMAND
Carmel Valley home sales continue to outstrip supply and the MAI has been moving higher for several weeks. This is a seller’s market so watch for upward pricing pressure in the near future if the trend continues.

PRICE
We continue to see the price for Homes for Sale in Carmel Valley bounce around this plateau. Look for a persistent change in the MAI before we see prices deviate from these levels.

MARKET ACTION INDEX (MAI)
The Market Action Index answers the question “how’s the market?” by measuring the current rate of sale versus the amount of Carmel Valley homes for sale. Index above 30 implies seller market conditions. Below 30, conditions favor the buyer.