May Flowers – bring out the home sellers
May is wedding season, moving season and graduating season. My youngest daughter is graduating high school at the end of May. We’ve spent so much time planning to tour colleges, actually touring them, discussing the campuses and programs, looking at financial options and stressing over the pros and cons. Is this school too big? Is this one too small? Is it too close to home? What will I do nearby? How big are the classrooms? How big are the dorms? How’s the food? Are the people nice? Will I fit in? Do they have a club for me? Can I change majors? Will our offer get chosen? Did we get the financing loan paperwork together? Did we do inspections? Will the heater need replacing soon? Does the roof leak? Oh. Wait a minute. Those last few questions are home-buying issues. Wait a minute again. This project of picking a college is very similar, overwhelming and stressful as buying a home. It’s an exhausting process.
I’ve been a homebuyer. I am a homebuyer. I work with homebuyers. I work with home sellers. I am a home seller. Buying and selling a home seems very simple. But it ends up being very complicated. The details are never-ending. You build a plan just to see it get changed the next day. Life doesn’t stop just because you’re buying or selling or buying AND selling your home. Kids graduate. Job issues arise. Health care happens. Cars need repair. Travel opportunities appear. Weddings, anniversaries, vacations…. They all happen along with arranging for the pool inspection, request for repairs, getting painter quotes, fixing dry rot, repairing a window, cleaning gutter. It’s no wonder that homes get bought and sold at all.
This is the time of year for real estate. People do buy homes now. They want to move while the kids are out of school and get settled in their new location before the school year starts. Sellers want to sell now because there are so many buyers out there. What sells in Folsom & El Dorado Hills area? Clean sells. Nice appearance – or “curb appeal” sells. And in Folsom, there’s a shortage of homes on the market. All of you that read my column regularly know that.
This is the time of year when nature is our best friend for home selling. All those April showers, well they brought the May flowers as promised. Everything is in bloom and bursting with colors; grass, trees, azaleas, cherry blossoms, shrubs of all varieties, daffodils… you name it. They look great. I suggest to sellers to take advantage of this time. Whether it’s your hobby or you need to have your landscaper to do it, plant some color. Even if you’re not moving. The colors in those flowers may make you feel great and inspired.
If you do want to sell your home, then hit the market! Last month’s column focused on the “fast” market in Folsom. I wrote about the high percentage of homes that receive multiple offers and how that impacts sales price. It’s still happening. In the past week, I’ve represented clients that made offers where there were as many as seven offers on a property. I’ve hurried to bring clients to homes that just hit the market because they won’t last long. Days on the Market (DOM) is the “other” key indicator to speed of the market.
The numbers are startling. At press time, Folsom had 99 homes on the market and 112 pending (buyer accepted an offer so home in process of being sold). More homes were pending than active on the market. 30% of those homes for sale came on the market in last 10 days. But let’s see how fast they sell. Of the pending homes, 33 went pending in the last 10 days, and 19 of the pending sales were on the market for less than 10 days. Of the 97 homes that sold since 3/1/17, 46 – almost ½ -- sold within 10 days. That’s a lot of homes selling very quickly.
I talk with sellers and buyers about these topics and more all the time. With proper planning and a good Realtor (Luckily, I know a really good one….), you can smoothly get to your next stage in life. For more tips on how to successfully navigate the real estate purchase or sale, or suggestions on Folsom topics, please contact me.