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HOW TO GUIDE - Saturday, September 24, 2022 4 How to Maximize the Value of Your Home when Selling Market Awareness The Santa Cruz County real estate market is ever changing. It is key to be in the know about current trends, market conditions and influences to stay ahead of the curve. During COVID many employees of tech and other industries were told they could work from home indefinitely. This increased the buyer pool for our county significantly and lead to record breaking COVID sales prices and market conditions. Since then, many companies have changed their stance requiring employees to com- mute. There are a multitude of variables changing the market daily: inflation, interest rate increases, war, divided nations, supply chain issues, inventory supply, etc. These and other variables lead to un- certainty which is causing some buyers to tempo- rarily sit on the sidelines. While some homes which were overpriced are having price decreases, that does not mean that values are decreasing. Econo- mists predict that values will continue to increase but at a much lower rate than recent years. The bottom line in Santa Cruz County is that inventory is still low, demand is still high and values are still some of the highest we have seen in our lifetimes. The result is that this is one of the best times in Santa Cruz history to sell a home if your goal is to maximize the value. Proper Preparation for Market To capitalize on these prime conditions, home sellers still need to consider important factors. With the evolution of the market happening on a daily basis, it's important to have a time-tested strategy and an effective plan for presenting your home to the market. Despite low inventory, it is critical to properly prepare a property prior to going on the market. This includes having your real estate team schedule the appropriate inspections. Preparing a disclosure package PRIOR to a buyer making an offer is key to avoid any further negotiations during the due diligence time period as well as to pro- viding full disclosure. It is wise to address certain repairs and, in some cases, some updates in order to maximize the value. Professional staging, by only the best home stagers, is also key to attracting the largest pool of buyers, which results in the highest and best offers for any given market. Another key to success is for your real estate team to employ only the best professional photography team to showcase your special property. This enables you to stand out amongst the competition. Effective Marketing is Critical In a changing market, it is even more important for all buyer eyes, worldwide, to be on your listing and that the story being told about your unique property (marketing) is not just a laundry list of features but is focused on the lifestyle that your home offers. After all, the Santa Cruz lifestyle is what buyers want and what is essentially being sold. Effectively spinning the tale of the wonderful Santa Cruz Coun- ty lifestyle will attract the largest pool of buyers to your home. Buyers today have a short attention span. As a result, the manner in which the property is presented must be strategic to capture the audi- ence. Proper advertising, descriptions and media content is a prime element in selling in a changing market. In this day and age, an impactful internet presence is key. Our team employs various forms of technology where buyers can walk through the property and the floorplan before physically arriving at the property. This is key since the buyers with the most money seem to have the least amount of time to spend sorting through which properties to view. Having the most comprehensive marketing can ensure your property will make it on the list for home buyers. Strategy Strategy starts with the home preparation and doesn't stop until escrow closes. Pricing is key when putting your home on the market, you need to be properly priced to ensure that you are presented well against the competition and that your home re- ceives the most exposure. Pricing too low can leave money on the table. Pricing too high can result in buyers not wanting to even view the home and can result in buyers who do view the home waiting for a price decrease before making an offer. Pricing strategically can have a huge effect on the offers received and on the end sale price. Another im- portant aspect in regards to strategy is employing a real estate team with much experience in knowing how to handle multiple offers in order to most bene- fit you. When negotiating, the smallest nuances can make the biggest difference. Once in escrow, the need for strategy doesn't go away. There are several milestones within an escrow. Knowing these milestones, what they mean and how to navigate through these waters is key, especially in a chang- ing market. Choosing your real estate team Working with a top producing team with a proven track record is even more important in a changing market. Having a highly experienced team to guide you through a shifting market, can make all the dif- ference in your sale. Another benefit of working with a team ensures you have the greatest expertise to call upon plus the best customer service since all team members each have different skills and superpowers. ;-) Teamwork also means there will always be someone available to answer questions in a timely manner. A team with time tested sys- tems for a seamless process allows you to rest with ease knowing you are ensured of the best possible outcome. Call Melody Russell or Kaelin Wagnermarsh of the Melody Russell Team today to discuss current market conditions, how to properly prepare your property for sale and your personal goals so that we can help you to determine if now is the right time for you to sell. Contributed photo Contributed photo

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