San Diego Seller’s New Year’s Resolution

Is your New Year’s Resolution to sell your home and to finally live the way you really want to? I can help make sure you accomplish your goal!

Hi, I’m Cristobal Jimenez with Coldwell Banker.

Every January, the same thing happens; millions of people decide to pursue a goal – like losing weight – but statistically, they give up by the 3rd week of January.

Maybe your goal is about selling your home – do you want to upgrade to a bigger place, or do you need to downsize? Maybe you want to move into a specific neighborhood, or get that backyard pool you’ve been dreaming of!

Don’t let your resolution fall by the wayside this year – you deserve to love where you live! Even if you’re feeling overwhelmed by the idea of selling, or you just don’t know where to start, you can still achieve your goal!

I can step in and guide you through the process easily, and using my unique digital marketing strategies,  I can help you sell your home quickly and for more money. Then, I can even help you find your next home!

For a free home valuation and to answer any questions you may have, give me a call today! Don’t procrastinate on your resolutions – this is YOUR year!

I’m Cristobal Jimenez with Coldwell Banker, let’s Buy and Sell Strategically.

San Diego Local Real Estate Year-End Market Update

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Hey everyone I’m sure if you’re like most people you’re wondering about the Real Estate Market in 2019 right here in San Diego County.  Even more importantly how the market conditions may affect you. 

I thought it would be great to recap what happened and make comparisons to the previous year, 2018.

Let’s start with University City.  We had 124 homes that were sold in 2019 and 143 in 2018. The average days on market in was 21 down by just one day from 2018 (20 days).  Average selling price was $963,000 which is up by  $28,000 from 2018 as the average selling price was $935,000.

University City — Photo from: Wikipedia

Let’s look at Clairemont.  In 2019 there were 398 homes that sold in Clairemont and 409 sold in 2018, this is 3% decrease in the number of homes selling in Clairemont.  The average days on market was 16 which was down by 6 days from 2018.  The average selling price was $764,000 in 2019 and $734,000 in 2018 so we saw an average sales price increase of  $30,000 from 2018 which is roughly a 4% increase.

Lastly let’s take a look at homes selling in La Jolla.  In 2019 there were 284 homes that sold in La Jolla  which a 18% decrease from 2018 where  349 homes were sold.  Average days on market was 43 which is a decrease of 18 days in comparison to 2018, and the average selling price was $2,468,000 in 2019 and $2,690,000 in 2018 which is a decrease of $222,000. 

La Jolla — Photo from: Redfin.com

Let’s do a quick recap. University City’s home prices increased from 2018 to 2019 by only 3% percent.

We had an increase of 4% in Clairemont and decrease in home prices in La Jolla of 9%.  Here’s what we need to look at,  and what is interesting.  The inventory is significantly lower in all cities.  Typically when we see the number of homes selling decreasing, that means that this could be a sign that the housing market here in our local University City, Clairemont and La Jolla is slowing down.

Read: Why Should You Sell Your Home In The Winter

This does not mean we need to panic.  We had many years where home prices were going up at staggering prices, quite frankly at alarming increases.  It means that we need to understand that the market climate is changing.

Adjustments may need to be made, expectations may need to be more realistic, and lastly if you are selling want to consider doing more to your home to get in ready to sell so that you’ll attract more buyers. It also means that it’s now more important than ever to hire a Realtor who knows how to properly market your home and expose it to as many potential buyers as possible.

And as you know, I’m here to do that better than anyone else. I’m here to take care of all of your home selling and buying needs.  Please reach out to me for anything community or real estate related. 

I’m Cristobal Jimenez. Revolutionizing Real Estate!

Real Estate Questions? #CallCristobal now!

Why Should You Sell Your Home in the Winter?

Spring is usually the most popular time of year to sell a house, with hordes of buyers looking to move into a new home before the school year begins.

You may  think spring is the best time to put their homes on the market because there are usually more buyers out at that time of year. What they don’t often consider is that every other homeowner is thinking the same thing, which means they’ll have the most competition. During the winter there is low inventory which means less competition for you.

Hi, I’m Cristobal Jimenez with Coldwell Banker. The #1 reason to list your home in the winter is there’s less competition. Inventory usually is at its lowest point in the winter, so the options buyers have are limited.

The ‘sweet spot’ for listing your house to get the most exposure happens at the start of the New Year. When spring rolls around, temperatures aren’t the only thing that rises. So do the number of listings. Don’t wait for all of the competition to show up before you decide to put your home on the market.

Not everyone looking at houses intends to make a purchase, have you noticed that? Some people are contemplating moving and may just want to see what’s on the market. Since more homes tend to go on the market in spring and fall, this is also when window shoppers are likely to be out looking.

You also have the opportunity to see the place at it’s best time, every once in a while we get rain in San Diego and it happens to are during the winter, you want to know that there won’t be leaks in the roof, the gutters do their job and if you have a back yard that the water drains properly.

There is an added bonus to selling during the winter: the buyers who are out looking in the cold and snow tend to be very engaged and serious. You will be much less likely to be inconvenienced by those casually looking or just wanting to get decorating ideas for their own home. You might be surprised how often that happens during more active markets.

In the winter, the “lookers” are staying warm at home, online!One of the biggest months for corporate relocation is January/February, so those buyers, who need to move quickly, are out in full force looking for new homes.

If you’ve been thinking about whether or not to sell your home or are curious about the market conditions in your area, contact me today. I’m Cristobal Jimenez with Coldwell Banker, let’s Buy and Sell Strategically.

Questions? #CallCristobal now!

January 2020 – National Market Update

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Buyer’s purchasing power is increasing across the nation. That’s great for buyers because it means it’s easier to purchase a home and it’s also great for sellers because it means buyers can qualify for more money. Hi I’m Cristobal Jimenez, with Coldwell Banker. Helping buyers and sellers right here in San Diego County buy and sell their perfect home.

Recently,  First American did a report showing that home prices are up by +5.7 percent which would have a negative effect on buyers purchasing power, roughly $21,300, however, Mortgage rates are down .85% which actually means a buyer purchasing power would go up by $40,200. Also, wages are up by 1.5%.  So if you take all of these numbers into consideration that means that a buyer’s purchasing power is  actually up by $24,500.  

This is great news, but some people are still feeling a little nervous about buying or selling because of all of the talk of the recession.  While we know that a recession is coming, check out the study from Porch.com which shows that Americans choose Real Estate as the safest investment even over a savings account, gold or stocks and bonds.  And don’t forget rental prices continue to go up and owning a home has substantial tax benefits,  so reach out to me and I’ll help you buy your dream home or sell and get you a new one.

Let’s Buy and Sell Strategically! #CallCristobal now!

What Are Contingencies?

YouTube channel: Callcristobal

It is where a buyer has made an offer on a home, and the seller has accepted it, but the finalized sale is contingent upon specific criteria being met. These criteria, or contingencies, typically fall under four major categories: appraisal, loan approval, inspections and, reports and disclosures. The buyer has the time to do their due diligence in all of these areas.

Photo: article cube

In regards to inspections, in our area, the typical inspections are home inspection, roof and chimney inspection, termite inspection, and if your home has septic or well expect for inspections to be done on those as well. Depending on where you live, the buyer may want to have other inspections like mold, HVAC, soil, etc. It depends on what is customary due to problems or issues that typically arise in the area.

In regards to reports, those encompass full disclosure on both inside and outside of anything and everything to do with the home. Watch the disclosure video to see what you should disclose. In regards to reports, there are also title and escrow reports, State and local reports, and disclosures that the buyer has time to review during the contingency time frames. The contingency time frames are agreed upon in the initial contract and, in most cases, are around 7-17 days.

Read: Recession

Still, in some cases, you can have a “no contingencies” if the buyer wrote an aggressive offer. In California, once you remove your contingencies, your deposit is at risk, so be sure not to remove them until you know you’re o.k. With all of the aspects of the home. You can ask for an extension if you need more time, and the seller would have to agree. The good news is that once all contingencies are removed, you have much more assurance that the home will close. 

Questions? #CallCristobal now!

Curb Appeal

You wouldn’t believe that there are a few hacks when you’re selling your home to ensure that you get maximum exposure.

Hi, I’m Cristobal Jimenez, with Coldwell Banker. In this video, I will talk about the outside of your home.  Curb appeal.

Now, I’m sure you’ve heard of this before, but you have to understand the importance of it. Many times buyers won’t even walk through a home that doesn’t look cleaned up from the outside.   

There are a few simple tricks that can save you money and maximize your return on investment at the same time. Here’s an example, utilizing black bark and adding a few flowers or plants that pop can take an old ugly yard and turn it from frumpy to fabulous.

Maybe you’re wondering if the entire outside needs a new paint job. Have you considered just painting the front door and trim, many times that alone can spruce up the outer appearance and look as though the entire home had a new paint job?

Read: Three Essentials When Selling

Right before pictures, be sure to water down the concrete or pavement as it will enhance the photos and make the home pop.

Also, be sure to trim up the trees, landscape, and roses. If you’ve got so many trees that it hides the home, well, you’re losing buyers.

Lastly, Be sure that all of your exterior lights are working, and the house is well lit up at night.

We’ve got many more tips to ensure that once we get a buyer to see your home, they are more likely to write on it. Be sure to call me, and  I will make it happen.

#CallCristobal now!

The Three Essentials When Selling

You decided to sell your house, know what?

There are Three Essentials for Selling Your Home Faster & for the Most Amount of Money.

  1. Offer Home Warranty to the Buyers (typically one year) Gives buyer assurance that if any issues come up, they will get fixed for a nominal fee. A Licensed professional will take care of the problem. The buyers aren’t worried about having to come up with additional money later on that they don’t have. Home Warranties typically cover appliances, like microwave, stove, range, dishwasher, garbage disposal, refrigerator. Water Heater, AC/Heat. If the house has a pool for an additional cost, the home warranty could cover the pool equipment.
Photo: adorable-home.com

2. Have all Disclosures In-Hand Before Going on MLS (TDS, SPQ, Natural Hazard) Saves you time and money. Less chance of buyer’s remorse or fallout. It keeps buyers away who may have problems with any disclosed items. Over-disclosing is the best thing you could do; it protects you if any issues were to come up after the sale of the property. Don’t be afraid of disclosing because it may scare buyers away. You want the right buyer for your house.

Photo: istockphoto

3. Be as Flexible as Possible With Showings and Have the Home SHOW Ready. You want your home sold, so make it as available as possible. Don’t allow a buyer to fall in love with another home when they could have fallen in love with yours first. Many buyers stop after they found “the one”; Be sure your home smells nice and is clean. If a buyer sees a home that is dirty and un-kept, they will assume you have not properly maintained your home. The first impression counts if the house smells, it will cause the buyers to want to leave, even if the floor plan is ideal for them. Especially when you have pets, have a strategy in place with your agent(partner) to make sure you have the window that you need to make sure the house is show-ready.

Read: Sell Strategically!

Being Transparent and Taking Care of Any Issues or Problems Before Listing. Buyers and their agents welcome the transparency in purchasing a home from a seller who has taken the time to be as diligent as possible in fixing any issues, as well as fully disclosing any previous issues. Also, it ensures that any problems, issues, or concerns are dealt with prior to going into escrow so that you don’t waste your precious time, resources, and money. Consider Getting Seller’s Coverage: Helps Pay for Most Issues That Arise After You Put Your Home on the Market and the Cost is Nominal.

Any Questions? #CallCristobal now!

December 2019 Market Update

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Hey San Diego, are you ready for our National Market Update?

We are seeing lower interest rates right now than we’ve seen since the beginning of 2018. Interest rates are also expected to remain low through 2021 according to the big dogs like Fannie Mae and Freddie Mac. This means it’s an excellent time to purchase a home.

Lower interest rates means that more buyers are also able to qualify for a home and also more buyers can qualify for higher loan amounts,  if you’re selling an upper-end home, now may be a good time to think about selling, because this means that there are more buyers who can actually qualify for a higher priced home.

Now, let’s look at rents. If you track rents from 1988, rents continue to increase significantly. Rents are not going down, but they’re actually going up in small increments up to 3% due to Rent Control Regulations.

I just recently heard the story of a young woman who had been renting in Concord for 20 years, and she had paid $1,800 a month in rents, which is $432,000 in rent. Imagine, that’s the cost of a home. She could have owned that home outright as well as gotten the mortgage write-off, which equates to thousands and thousands of dollars every single year.

Lastly, let’s end with this, all the talk about the recession. Some people are on the fence as whether they should buy now or they should wait to sell. I’ve said this before, and I’m going to say it again until it sinks in. Recession does not mean housing crisis.

Housing prices actually went up in three out of the last five recessions, so don’t let all that worry you. With interest rates expected to stay low and rents going up, now is a great time to buy and sell or buy an investment property, and remember, please reach out to me anytime.

I am always here to help, Let’s Buy and Sell Strategically. My name is Cristobal Jimenez with Coldwell Banker.

#CallCristobal at 619-500-2899 or email me anytime at cristobal@integrity.realestate

Sell Strategically!

The more you find yourself considering a move, the more you’ll discover how complicated the whole transition can be.  The internet could simplify it or make it worse, extremely overwhelming.

Most of the time, that’s when fear of the unknown kicks in and prevents us from taking action.  I want to serve you and take that fear away and make it an exciting process.

With me, you will have a clear strategy to make this as easy as possible. My business philosophy is built around education, communication, and responsiveness. I get my real sense of worth by showing you how best to optimize this transition by leveraging resources, technology, and a team of professionals to make sure you have peace of mind during this process.

My mentor, Krista Mashore.

I have been on your shoes multiple times, and selling can be an overwhelming process, especially when you have an emotional attachment to the property, I have been on very stressful transactions, I have been on smooth transactions, and I have been on OKAY transactions. The main difference was on the strategy if any shared with us at the beginning of the process. Let me serve YOU.

This is Cristobal Jimenez with Coldwell Banker, Let’s Buy and Sell Strategically.

Don’t hesitate to #CallCristobal at 619-500-2899 or email me at cristobal@integrity.realestate .

Follow us on Instagram and DM us there! – https://www.instagram.com/callcristobal/ Like us on Facebook and send us a PM! – https://www.facebook.com/callcristobal/ We are also on Twitter! – https://twitter.com/callcristobalRE

Should you wait until Spring to list?

YouTube Channel: https://www.youtube.com/channel/UCeJ-f3AK3rnK5xRRp_FRJcA

Should you wait until the spring to list your home, or list right after the holidays? 

That is an excellent question. I always advise sellers that one of the best times to list is right after the holidays. I like to have their home ready to go on the market right after the first of the year when all the fluff and hype is done.

Why you may ask? During the winter most of the buyers that are indeed looking are ready to buy and won’t kick tires. Most listings come on the market the second quarter of each year. So if you wait for the spring, there’s going to be a dramatic increase in the number of other homes coming on the market that you’re actually competing with. As a matter of fact, the number of homes for sale actually goes down about 40 to 60% in January and February as compared to the springtime.

I often have people say to me and ask me, well, Cristobal; there are more buyers during the springtime. This is true. However, if a seller waits until April, May, and June, the number of buyers goes up.

So the higher the number of properties listed, the more competition. And also, fewer buyers are actually buying, so it’s actually worse for a seller to wait until springtime. If you’re selling, you want more money, right? Well, of course, you do, which means that right after the holidays is an excellent time to sell.

So please reach out to me at any time, as I am always here to help. Let’s buy and sell strategically. #CallCristobal at 619-500-2899 or email me at cristobal@integrity.realestate