Seller's Tips

 

 RECIPE FOR A CORONADO SALE:

There are 4 main ingredients that make up the sale of your Coronado home:

1.      PRICE: Price is the number one factor in the sale of a home. A property is worth what another person is willing to pay for it. Price must be in direct relationship to the other three ingredients below.

2.      LOCATION: I cannot move your home! If you have a water view or are close to the beach or town, all other things being equal, your home is worth more.

3.      CONDITION: The upkeep and presentation of your home is crucial to obtaining the highest price. Condition of the home is particularly important to vacation buyers, who will often pay a premium for a Coronado home in turn-key condition.  Click here to see pictures of turn-key homes that received premium pricing.

4.      THE MARKET: Interest rates, competition and the economy all impact the sale of your home. The pricing of your property must reflect the current status of the market. Click here to see Coronado sales statistics.

When all of the above ingredients are in agreement, we have a sale! If just one ingredient is out of line, it will take a longer time to sell.  The more ingredients that are out of line, the longer your sale will take.

PRICING IS CRUCIAL

The definition of “MARKET VALUE” is what a ready, willing and able buyer will pay, and the seller will accept, at any given time.

• Coronado buyers tend to be educated, wealthy and sophisticated, and in tune with appropriate pricing.
• Coronado buyers buy by comparison.  How does your home compare to other homes similarly priced?  Click here to see all homes available for sale in Coronado.
• Exposure to qualified buyers is what sells houses.
• An overpriced house gets no exposure to qualified buyers.
• An overpriced house only helps to sell the reasonably priced houses available around it.  An overpriced house makes the competition look good by comparison.
• Fair market value is dictated by buyer demand. You will have a greater pool of buyers looking in Coronado in May, June, July and August (our peak season) then you will the remainder of the year.  If you can, wait until the late spring to sell.
• Houses which remain on the market a long time become “shopworn,” as buyers and agents begin to wonder, “What is wrong with that house?”
• The longer a house remains on the market, the less chance that it will get the highest price.  This is particularly true in Coronado when a seller misses the peak sales season, the summer, and slides into the fall and winter.  
• The very first offer received is often the best offer because it comes from a backlog of buyers who have been looking and need to buy, and will offer the best price. These buyers have been waiting for your house and are eager to purchase.
• “Waiting for your price” can only be accomplished by waiting for general appreciation, and the sale price will then be in cheaper dollars because of principles of time value of money and inflation.
• Price cures all defects for the intelligent buyer.  You would never invest in a house on 4^th Street?  What if the price was $400,000?  Of course you would buy it!  Any house, no matter what the condition, location, or problem, will sell at the right price.
• A house priced right in the beginning is half sold and will bring more money to the seller than a house at first overpriced and then reduced.
• REMEMBER:

If a house is priced right, it sells!

 PREPARATION FOR SHOW AND SALE:

• Have your property looking its best at all times.
• Keep the yard neat and clean: Lawn mowed, shrubs trimmed. Make the prospect want to come inside.  First impressions are key.
• Dress up the windows, the eyes of the house.
• Have the garage clean and neat. Broken window panes and loose door knobs make a bad impression.
• Keep the house tidy.
• Make all minor repairs such as sticking doors, leaky plumbing, and broken light switches.  
• If you have a dog, keep him out of the house and under control.
• Shut off or tune down the radio or television.
• Let plenty of light into your rooms. Nothing dispels gloom more than light.  Open the curtains and blinds.
• If redecorating is needed, do it.  Properly done, it creates appeal.
• If a potential buyer asks questions about the house and neighborhood, answer directly and truthfully.  Coronado buyers do not expect perfection because Coronado is not a brand new housing development.  Coronado buyers do, however, expect honesty.
• Questions about the transaction should be referred to the salesperson.
• Be prepared at all times to show your home because the prospect you turn away may be the future buyer. 

WHEN I LIST YOUR HOME FOR SALE, I PROMISE TO PERFORM THE FOLLOWING:

• Have conducted a prelisting inspection so that I can have fixed problems prior to selling the home, or adjust the price of your home to reflect the fixes need.  You do not want problems left undiscovered until escrow because surprise problems blow sales, and houses that fall out of escrow get stigmatized.
• Provide you with and help you complete all disclosure paperwork prior to listing.  I will ask that buyers read the disclosures prior to submitting an offer.  This step reduces the buyer’s ability to walk during the escrow period.  When we get your house into escrow, we will close it.
• Understand your zoning.  As an experienced attorney with my own real estate development company, I am particularly well-suited in this regard.
• Understand all aspects of your property.  Most homes in Coronado will benefit by improvement.  Accordingly, to attain the highest price for your home, you are not just selling your home but also the possibilities that come with it.  As a developer in Coronado, I know the zoning associated with your property and its development possibilities, such as square footage that may be added, required setbacks, the ability to fence in the front yard, and the possibility of a second story addition. 
• Install an easily identifiable Owen Properties yard sign.
• Install a coded lockbox for easy agent access at hours convenient for you. Remember: The easier your house is to show, the more buyers and agents who will see it, and the quicker your home will sell.  When I sell my own properties, I always install a lockbox to maximize exposure.
• Entry in “Multiple Listing Service” with custom updating.
• Provide color photos of your home.
• Provide customized in-home brochures or fliers.
• Post your listing at www.SearchCoronado.com and on over 50 other high-traffic websites.
• Provide you with weekly updates on your listing and the status of competitive listings in area.
• Follow-up with each agent who tours your home and share agent feedback with you.
• Arrange a broker tour by Coronado agents.  Broker tours, in my opinion, are more important than all other advertising combined because most sales in Coronado occur through a Coronado real estate agent.  It is essential that all top agents in Coronado know of your listing and understand the value associated with your property.  Broker tour is the key. 
• Negotiate contracts on the sale of your home and provide full service getting the contract to settlement.  As an attorney, I have negotiated transactions with a value in excess of $300 million.  I can negotiate the sale of your home.