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Celebrating the Spring Real Estate Market

8 REASONS TO LIST YOUR SANTA BARBARA HOME NOW!

This backyard has real curb appeal, one of the realtor tips when selling your home.

If you’re considering listing your home in any of the upscale communities in Santa Barbara, take note: the spring real estate market is traditionally the best time to sell your house. Whenever possible, I urge my clients to follow conventional wisdom that says sell in the prime season, which begins in spring and lasts through summer.

READ: Selling a Montecito Home: A Few Things to Consider

The owners of two of my current listings, a beautiful Birnam Wood home, pictured above, and the  Luxury Lock & Go Ocean View Home pictured below are taking advantage of the springtime housing market. There’s a good chance they’ll sell quickly. If you’re interested, I suggest you let me know right away!

Here are 8 reasons to sell in the spring real estate market:

  • Higher sale price
    Prices are highest in the prime season. Buyers like to take advantage of school vacation as the time to make their move. That means more potential buyers competing for the currently limited inventory of listed homes.
  • Better valuations
    When your house is being valued, the appraiser will look into data for comparable homes sold in your neighborhood. With more homes selling in the on-season, the comparable data (or “comps”) are more accurate.
    The balcony of a Montecito home for sale shows the amazing view to the ocean.
  • Homes look better, days are longer
    There’s no doubt that spring is when properties shine, especially here in sunny Santa Barbara. Everything’s in bloom and buyers are out.
  • There Are Plenty of Buyers
    Just a few years ago, millennials were brand-new to home buying, but they’ve since become a staple demographic of the real estate market. With them, the real estate industry has evolved to better utilize technology and data, helping home shoppers begin their search for available homes online. Nowadays, when a real estate agent like me lists a house on the local multiple listing service, it also gets picked up by consumer-facing portals like Zillow and realtor.com, reaching homebuyers directly.

READ: 10 Common Home Selling Mistakes and How to Avoid Them

  • Sellers can be picky
    More buyers means more options for sellers, period.
  • The Market Is in the Right Place
    A combination of today’s low-interest rates and low single-family housing inventory equals a lot of eager homebuyers forced to compete for what’s on the market.
  • Bidding wars
    That competition leads to bidding wars, a headache for buyers but a big plus for sellers. By listing your home when the number of buyers is high, you unlock more chances for bidders and multiple offers.
  • Amazing curb appeal
    The ever-important curb appeal is easier to create this time of year. Think green lawns, flowers, breathtaking landscaping and breathtaking views. If you’re selling in the spring, your house will naturally have lots of that colorful “pop” to attract the right buyer.

Here are four tips to take advantage of the springtime homebuying surge:

  • Prep your home
    It’s a year-round rule that you should be putting your home’s best face forward, from planting flowers along the walkway to updating appliances in the kitchen or bathroom. While an interested buyer may be competitive about bidding on a home, he or she will also be well-informed, and prepping your home is imperative to getting the highest possible return on your investment. Staging is also a key component in showcasing the property at its best.

    READ: 20 Tips for Staging a Home for Sale
    The master bedroom of a luxury home is sparking to sell in the Spring

  • Price it right the first time
    If your house is underpriced, you may be swamped with lookers and perhaps get many offers. But you could lose thousands on one of your family’s largest investments. Meantime, if your house is overpriced, buyers are apt to be few and far between, with little chance of any offers to pay your unrealistic price. You may lower your price later, but by that time you will have missed many of the most interested buyers. Arriving at an asking price involves up-to-the-minute research and experienced judgment. If you are listing a home in Montecito, Hope Ranch or any of Santa Barbara’s upscale communities, then I recommend you enlist my help. As the leading agent in the area, I have the tools to check out the current real estate market conditions and financing trends to price your home right from the start.
  • Aim to list on a Thursday
    Homes listed on Thursday sell the fastest, with the typical Thursday-listed property going under contract 5 days faster than homes listed on Sunday. Wednesday and Friday-listed homes were second-best, with the typical home finding a buyer 4 days faster. Homes listed on Sunday take the longest to find a buyer. Makes sense when you realize that homebuyers have more time over the weekend to tour listings. Homes listed on Thursday are fresh in buyers’ minds when they are planning their weekend tours.
  • Stay competitive
    Even in a seller’s market, there’s no guarantee your home will be scooped up quickly – or even scooped up at all. It’s important to emphasize the particular strengths of your home. And while many markets are heating up or hot already, it’s important to keep in mind that a jump in home values in one area doesn’t promise higher home values anywhere else.

If you’re thinking about listing your property to take advantage of the spring real estate market, I suggest you act now. Just give me a call at (805) 886-9378 or email me at Cristal@montecito-estate.com. I’d be honored to add your home to my portfolio. If you’re looking for a new place to call home in upscale Santa Barbara, I can help with that, too!


 

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