Data Says…

April is the Best Month to List Your Home for Sale

Data Says April is the Best Month to List Your Home for Sale | MyKCM

The spring housing market is off to the races! The inventory of homes for sale is increasing, buyers are out in force, and interest rates have remained low, piquing the interest of buyers and sellers previously on the fence about making a move.

New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.

Listing your home in the first week of April contributes 14x more property views, 5% less competition from other home sellers, and results in the home being sold 6 days faster!

Below is a graph indicating the average score for each month of the year. 

Data Says April is the Best Month to List Your Home for Sale | MyKCM

It should come as no surprise that April and May dominate as the top months to sell. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, often leading to bidding wars.

However, there is one caveat worth mentioning. When broken down by metro, realtor.com noticed that while warmer climates share an overall trend, they have different top sales months. The best month to get the most exposure in Miami, FL, for instance, is August, while in Phoenix, AZ, June leads the charge.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, 41% of homes sold last month were on the market for less than 30 days! If you list now, you’ll have a really good chance to sell in April or May, setting yourself up for the most exposure!

Bottom Line

Let’s get together to discuss the market conditions in our area to get you the most exposure to the buyers ready and willing to make a move!

Is Your House Priced To Sell Immediately (PTSI)?

Is Your House Priced To Sell Immediately (PTSI)? | MyKCM

In today’s real estate market, with more houses coming to market every day and eager buyers searching for their dream home, setting the right price for your house is one of the most important things you can do.

According to CoreLogic’s latest Home Price Indexhome values have risen at over 6% a year over the past two years, but have started to slow to 4.4% over the last 12 months. By this time next year, CoreLogic predicts that home values will be 4.6% higher.

Is Your House Priced To Sell Immediately (PTSI)? | MyKCM

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little OVER market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing! (see the chart below)Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so that demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.

The key to selling your house in 2019 is making sure your house is Priced To Sell Immediately (PTSI)! That way, your home will be seen by the most buyers and will sell at a great price before more competition comes to market!

Bottom Line

If you are debating listing your house for sale, let’s get together to discuss how to price your home appropriately for our area and maximize your exposure this Spring Market!

Exciting News

I have some exciting news to share with you! As you may have heard, Alain Pinel is joining forces with Compass, a national real estate brokerage focused on empowering agents to better serve you.
Alain Pinel’s commitment to the Bay Area community, legacy knowledge of the local market, and decades of experience, combined with Compass’ financial backing, technology infrastructure, and scale, provide important resources, support, and brand reach that we’ll be able to leverage moving forward.
In addition, Compass provides me direct access to a strong network of buyers, sellers, and agents throughout the Bay Area and nationally. The agent network is 10,000 people strong across the top 20 markets in the United States, as well as a global network via Compass’ digital platform, allowing us to reach prospective buyers wherever they live.
Finally, Compass’ agent support is unparalleled. They offer me tools and programs to help me grow my business and better serve my clients, as well as an in-house marketing and creative studio, comprised of designers, strategists, and producers from acclaimed brands and agencies.


2019 IPOs Affecting Real Estate In Silicon Valley

Uber, Lyft, Slack, Pinterest, and Airbnb are predicted to IPO this year which could result in new wealth.

“When tech Unicorn startups, like Uber, finally go public, they will likely be worth over $100 billion, putting at least $10 million in stock for every early employee, advisor, and investor. In addition to the startup ecosystem, the real estate landscape will also be affected.” Read full article in Forbes

2019 Economic & Market Forecast

A glimpse into the data collected by CALIFORNIA ASSOCIATION OF REALTORS®  shows the real estate market is shifting.

Slide1

While area housing supply surged, Los Altos actually decreased in supply.
Slide2

 

Days on market jumped in Los Altos.

Slide3

7 of the top 10 most expensive US zip codes in 2018 are in the SF Bay Area!

These are the most expensive zip codes in the US this year

10. 95030

• Location: Los Gatos, California
• Metro area: San Jose-Sunnyvale-Santa Clara
• Median sales price: $2,650,000
• Median household income: $180,222
• Households making $200,000+: 45.7%

9. 95070

• Location: Saratoga, California
• Metro area: San Jose-Sunnyvale-Santa Clara
• Median sales price: $2,720,000
• Median household income: $173,739
• Households making $200,000+: 43.8%

8. 94306

• Location: Palo Alto, California
• Metro area: San Jose-Sunnyvale-Santa Clara
• Median sales price: $2,755,500
• Median household income: $125,553
• Households making $200,000+: 33.9%

7. 94010

• Location: Burlingame, California
• Metro area: San Francisco-Oakland-Hayward
• Median sales price: $2,762,500
• Median household income: $135,283
• Households making $200,000+: 35.4%

6. 90272

• Location: Pacific Palisades, California
• Metro area: Los Angeles-Long Beach-Anaheim
• Median sales price: $2,883,750
• Median household income: $180,962
• Households making $200,000+: 46.3%

5. 90210

• Location: Beverly Hills, California
• Metro area: Los Angeles-Long Beach-Anaheim
• Median sales price: $3,148,000
• Median household income: $149,732
• Households making $200,000+: 39.9%

4. 94024

• Location: Los Altos, California
• Metro area: San Jose-Sunnyvale-Santa Clara
• Median sales price: $3,250,000
• Median household income: $220,970
• Households making $200,000+: 55.4%

3. 94022

• Location: Los Altos, California
• Metro area: San Jose-Sunnyvale-Santa Clara
• Median sales price: $3,587,500
• Median household income: $208,984
• Households making $200,000+: 51.8%

2. 10013

• Location: New York, New York
• Metro area: New York-Newark-Jersey City
• Median sales price: $3,612,500
• Median household income: $106,056
• Households making $200,000+: 33.4%

1. 94301

• Location: Palo Alto, California
• Metro area: San Jose-Sunnyvale-Santa Clara
• Median sales price: $3,750,000
• Median household income: $146,488
• Households making $200,000+: 39.2%

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The ripple effect of a long term shutdown

Unpaid government workers owe $438M in mortgage and rent this month

Government workers not collecting a paycheck as a result of the shutdown will impact the housing market

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