The Luxury Panel is a rotating group of San Diego’s top Real Estate professionals who specialize in the luxury market sharing their expertise on hot topics and home buyer & seller questions.
QUESTION: What advice would you give homeowners who are on the fence right now about when to list their home?
Jason Barry, Barry Estates, email@example.com
“The best time to list a luxury property is when inventory is low. Don’t believe the rumors about selling in the Spring. Moreover, look at the data. Some of our busiest months over the last decades have been October and December. The reality is luxury sales do not fit into the perception. Luxury buyers have the luxury of looking when they desire. The economic principle of supply and demand holds true. You will get the highest price for your home typically when inventory is at its lowest.”
Pete Bilicki, Pacific Sotheby’s International Realty, Pete.firstname.lastname@example.org
“2015 was a year of low interest rates, low inventory of new homes and resales. Both Buyers and Sellers had challenges in 2015. List and sell and can’t find a new home to purchase? Buyers looking and not finding that dream home? Construction of new homes is still predicted to be off in 2016 creating pent up demand in the marketplace. Resales that come into the marketplace that are priced right, sell right away. In most cases ALL CASH! Fewer choices in the market place will drive pricing in 2016.”
Chaco Clotfelter, MBA, Willis Allen Real Estate, Chaco@willisallen.com
“Your agent should help you define who the Buyers of your home will be well before your home is listed. Each community caters to Buyers with a very specific lifestyle and ambiance in mind and it is critical to determine when these Buyers intend to use their homes whether it be part time, as second homes, or full time as new residents. Beyond those basics, understanding the seasonal lifestyle rhythms of those that live in specific developments will largely determine when these prospective owners will want to be moving in.”
Rande Turner, Rande Turner Properties, email@example.com
“There is currently a lack of inventory in many areas and at many price points in San Diego, including North County. The best time to sell your home is when you are ready and your home is properly prepared. With a dynamic marketing strategy and appropriate pricing, your home should be well received given the current market conditions.”
Joan Schultz, Berkshire Hathaway HomeServices, firstname.lastname@example.org
“A homeowner debating whether or not to list their home would be wise to cease the debate. The threat of increased interest rates will stop being a threat and soon become a reality. When that happens, the buyer’s purchasing power changes. What was saved for a down payment will, in part, go towards increased mortgage payments. Sellers should, in lieu of debate, look around their homes and decide how it can become more buyer friendly. Preparing a home for quick sale is just one of my areas of expertise.”