Price Comparisons and Market Analysis

We take the business of selling our home as seriously as we do any other major investment ~ in fact, probably even more so because it is our most major investment. So the question comes up from a buyer (or possibly a realtor), ‘How did they arrive at their price?’. It is a valid question. We did hire several market analysts, and have continued to follow the market prices for homes that are comparable to ours.

We think you as the buyer would have the same questions before purchasing a home as we have. Most people have a list of their ‘must haves’ followed by their ‘wants’, and it likely includes items they do not want. These are good questions. Therefore, in order to do a market analysis of our property, you must ask yourself these questions. If you wish to live on a lot approaching a zero-lot line, that is great! This would not be the home for you, however. It also would not be a comparable comparison for pricing. For examples of homes that have similar sized lots that are also well-built homes, a neighborhood near our home you might look at for good comparison of pricing would be Quail Run. It is within a few miles of our home. No two homes are equal, but this is a neighborhood that will offer you a good analysis of pricing. We have done a lot of homework, and we know you want to do so also.

Foreigners are buying into the California dream

As Southern California sales have stalled and home prices have slumped, realty agents here have geared up to help sellers tap into this market of buyers who come with pockets full of cash. Some local agents have adapted their websites for foreign buyers by adding multiple language translation options. Others have joined professional organizations to give themselves an international reach. One local agent has even offered to reimburse buyer travel expenses should a sale close.

Foreigners purchase all types and sizes of properties; however, high-end estates, larger homes and condominiums in upscale areas are especially prized. These buyers also prefer properties that are bright, clean, ready to occupy and on large lots, experts say.

About one-quarter of agents surveyed in a National Assn. of Realtors study last year said their business with buyers who principally reside in another country had increased in the previous five years. California was second in popularity, accounting for 16% of international purchases in the U.S. Florida was tops.

Locally, real estate brokers report an influx of buyers from Europe, the Middle East, Asia and Latin America. Specific countries include Brazil, China, France, Germany, Italy, the Netherlands, the Philippines, Russia and Spain, as well as Canada and Mexico.

Desert and beachfront areas are both seeing their share of international shoppers seeking sunny vacation getaways.

The strength of foreign currencies against the U.S. dollar has been the “icing on the cake” of California’s appeal, said Greg Moesser, estates director at Prudential California Realty in Beverly Hills.

George Colombotos, a real estate investor and partner in Casa Grande Enterprises, a luxury home design-build firm in Cathedral City, wasn’t surprised when a Canadian couple made an all-cash offer to buy a Rancho Mirage property he’d listed with a local broker. Another Canadian couple had bought a similar home, also for cash, that Colombotos had listed with the same broker several months earlier.

FSBO How-To (For Sale by owner Listings)

Clear and comprehensive listing is the first introduction your prospective buyer will have for the property. The real estate listing should be complete and the facts contained in the listing should be accurate. The prospective buyer should find the listing easy to understand and tempting enough to make them motivated to learn more and come out to view the property. As technology moves forward with advances in print and the internet getting the attention of buyers can be an easier assignment.

Your real estate listing should not only be factual but honest. Many prospective buyers invest a lot of time and energy to get out and view properties. They are therefore not likely to appreciate finding that the home they see listed as lakefront property is actually overlooking the lake from a block away and has lake access. There really is a difference. The more inflated the claims, the less likely buyers will be willing to work with a property owner. Since buyers ultimately want to feel good about their purchase, it is better to be honest and show credibility than to be dishonest and run the risk of having no one to sell to. Plus in many areas it’s against the law not to disclose all the facts about the property.

How many times have you read a real estate listing with vital information left out? Basic things like number of bedrooms or the amount of property tax paid. On the other hand others put in such an excessive amount of information, or with nothing by abbreviations that the prospective buyer will just move on to the next listing. You can’t go wrong starting with the basics. Numbers of bedrooms, if raw land the zoning, size of the lot and so forth. Detail the properties most attractive selling points like large lot, or remodeled master suite or location. Color pictures always support the written real estate listing.

It’s widely known that you’ll make the sale sooner and closer to the asking price if a larger number of prospective buyers are motivated to take the next step and view the property. So with a proper balance of facts, technology and good old fashioned sales savvy will go a long way toward selling your property.

Online real estate listings are a great option to marketing a home. Visualization plays an extremely vital role when it comes to marketing a property and the internet is a perfect venue for creating stunning visual portfolios. The number of technological advances, such as the 360 degree camera shot, allows prospective buyers to pan around and see a property from every angle without ever having to leave the comfort of their home. This is a bonus for those who find themselves in need of a residence in an entirely different city or state. Properties with these types of listings are also likely to get a higher number of views as compared to the conventional real estate listing.