Fresno and Clovis Housing Market Information

 

Dec. 16, 2015

Preparing to sell your home in 2016

Get ready to sell in 2016

With 2015 coming to a close, home buyers and sellers in Fresno and Clovis are looking to 2016 with anticipation as interest rates are on the rise.  As inventory grows and pressure on house prices increase with the rise in interest rates, it is important for home sellers to pay close attention to presentation when marketing their home. With that in mind I am going to give you my top 5 recommendations for getting the most money when selling your home. 

1. Hire a Realtor

I know that some of you are thinking that you can save some money by selling your home by yourself, and there are plenty of arguments about why or why not you should hire a professional Realtor to help you with the process. I am going to point out two overwhelming facts that should compel you to hire a professional. First, people don't like conflict. Second, home buyers don't pay for the services of a Realtor all commissions are paid by the seller. That fact alone means that almost all buyers have a relationship with a Realtor when looking to purchase a home. Realtors utilize the local Multiple Listing service you want to have your house listed there to get the most visibility and in turn money for your home.

2. Price

With the digital age we live in, anyone can spend a few minutes on one of the many websites (including this one) and gather information to come up with some reasonable idea of what any home is worth. Too often we see outrageous pricing on homes for people who say that they just want to "test the market". The testing has already been done for you and is backed by hard numbers, you need to get your home priced at a point where buyers want to take a look and entertain the idea of buying it. If you price it too high its overlooked and sits there. Another unknown fact by many is that there is a 24 hour market watch for realtors on the Fresno MlS which highlights new listing, pending sales, expired listing and sold properties. In other words when your house first hits the market it is sitting there with blinking neon lights screaming "look at me". Don't you want your house to look as attractive as possible during this time so all the buyers want to come and take a look?

3. Pictures can be your best friend or your worst enemy.

In the past 10 years I have listed many homes for sale and I understand the importance of great photographs when it comes to marketing. Sometimes less is more, while it is important to get great pictures of a house, no one needs to see all toilets and cluttered closets. I want to highlight the great parts of your home and while you may like the yellow and purple zebra striped office, my job is to get as many qualified buyers through your front door to get you the most money for your house. Leaving a few photos out of marketing package to get someone to make a personal visit and possibly realize that its just a matter of a little paint.  

4. Remember the 3 D's - De clutter, Deodorize and Disappear.

A few simple steps can mean the difference between thousands of dollars. I know it may feel as if I am just saying this but I have experienced it personally and professionally. When I sold my first home in Fresno my wife and I had only been married for a few years. We had both previously lived on our own and when we got married we combined all or kitchen utensils, appliances etc. We got rid of several items but we still had more that most people and the kitchen drawers/cabinets showed it. Prior to putting our house up for sale we rented a storage and emptied about half of the kitchen and linen closets.

After showing hundreds of homes to potential buyers I can say as a matter of fact, nothing can cut a showing short like household odors or having the seller of the house hang around during the showing. If you take nothing more from this entire blog entry please remember this, I cant stress how important it is for you to leave when there is a showing at your home. Buyers cant get out of your house fast enough when you are lurking in the back bedroom, or there are foreign odors around the house. Remember that buying a home is a highly emotional process for people and if they can stand in your living room and bond with the idea that this may be their home soon, there is probably little chance you are going to get a offer from them.

5. Be prepared to Negotiate.

Always keep in mind why you are selling your home. There has to be a compelling reason that has gotten you to the point of putting your house on the market. If you don't get a full price offer, don't get offended. People want to win and almost everyone wants a deal. Negotiating is important, many people would be surprised that to find out that even a small gesture often is enough to get buyers and sellers to come together. The willingness to work together seems to change the overall paradigm in many transactions.   

We have been selling homes in Fresno, Clovis and all over the Central California for over a decade. We are here to inform and help save you thousands of dollars when you sell your home. Give me a call at (559)355-6295; we would love to earn your business!  To find out more about us visit us at Fresnoclovishouses.com

 

Posted in Fresno Real Estate
Sept. 10, 2015

How much should consumers rely on automated values such as Zillow

Are Consumers Putting Too Much Faith In Zillow?

Many people thinking about buying or selling a home in today's real estate market rely on online automated values to determine real estate prices. Websites like Zillow and Realtor.com have proprietary automated valuation models that use raw data such as location, size, square footage and property tax information along with previous sales data to arrive at a valuation. While online websites offering valuations have shown to be a valuable tool for consumers we continue to see that they are just that, a tool. Home buyers and sellers should realize that like any tool its only useful to a certain point. While most information such as tax data is reliable it's not always accurate. Previous home sale prices are an indication of value they don't always reveal the true circumstances of the sale (short sale or other matters affecting the home's value). In the past we have seen huge discrepancies in tax data which is heavily relied upon by many of the online valuation companies. These subtle discrepancies can turn the true value of neighborhoods upside down and I have seen thousands of dollars lost by homeowners because of their blind faith in these online valuations. I know many of you were thinking why is he telling us this. My point of this blog entry is to let you know that there's no service or automated tool that can replace the value of an active real estate professional when you're thinking about selling or buying a home. It appears to me that too many people are relying upon automated computers and algorithms to help them determine what the house is worth. I love technology as much as the next person but a computer can't tell you about the neighbors or the neighborhood. While I would like to think that you would call me I think it is more important for you to understand that you need to call a trusted real estate professional.

We offer a free automated valuation tool here at our website and we would like you to use it as a talking point and reference tool. We feel that in order to give you an accurate estimate of your homes value, nothing can replace a personal visit at your home. We can then suggest options to consider as we work with you to get the most money for you investment. 

Give us a call or visit us at Fresnoclovishouses.com we love to talk real estate!

Posted in Fresno Real Estate
June 16, 2015

Selling My Fresno/Clovis Home

Is It Time To Sell My Central Valley Home?

I often receive phone calls from friends, family and clients asking if 2015 is it a good time to sell. While there is not a perfect one size fits all answer to this question, there are some definite facts available for those considering selling their Fresno or Clovis home. Since 2001 interest rates have been kept in check by the Federal Reserve in order to keep the cost of money low so that home buyer could afford to buy homes, and in turn stimulate growth in the economy. With interest rates low and the implementation of Federal Reserves fiscal policy of "Quantitative Easing" (in effect the Federal Reserve printing money and buying mortgages from Fannie Mae and Freddie Mac) in 2009 and 2010, buying power has been super charged for the past 5 years. Home equity has been robust for the past three years in the Central Valley, with almost all owner seeing double digit gains. Demand for single family homes in the first quarter of 2015 has remained healthy with the number of sold single family homes in the Fresno/Clovis area increasing month over month. At the end of 2014 the Federal Reserve quietly announced the end of Quantitative Easing (in order to keep inflation in check) and many in the financial industries say that it is impossible for interest rates to remain at today's low levels.

You are probably asking what does all of this mean to me? In my opinion we have seen the biggest portion of the housing rebound in the Central Valley. I believe we will continue to see modest equity gains in the next five years but if you are waiting to sell until we get back to the 2004-2005 prices, settle in; that may take a while. If you are looking to move up, down size or you just need a change of scenery now may be one of the best times to sell your home. Everyone has different reasons for selling, and as I said in the beginning there is no one size fits all answer to the question "should I sell my home now"? We are more than willing to share what we know about the Fresno Real Estate market and help you come up with your own answer to the question. You can instantly find what homes in your neighborhood are selling for with our home valuation tool. 

Posted in Fresno Real Estate
May 18, 2015

Realtor Brent Spitler Blog

Clovis And Fresno Housing Markets Remains Strong

With single family homes in limited supply and demand remaining steady, the Fresno Real Estate market is showing signs of a healthy growth for 2015. According to data in the Fresno MLS the number of single family residences sold in the first four months of 2015 have grown month over month in Fresno and Clovis. With economist predicting single digit gains in the Fresno area housing market and national publication naming Fresno as a "Market to Watch in 2015". There area no signs that the rest of spring and summer should be anything but robust.Fresno Housing Market

 For more information visit us at Fresnoclovishouses.com or give us a call at (559)355-6295.

Posted in Fresno Real Estate