Buyers are Craving Quality Inventory

Last week I reviewed offers with three sellers on properties. Each was in a different Oakland neighborhood. The properties are now in escrow, two with accepted offers at more than 20% over the asking price. The third property also did well, but is selling at just 5% above the listed price. Each property received the same treatment: careful pricing to generate maximum interest, meticulous preparation, professional photography, and custom web sites that tracked and verified similar levels of consumer interest. Why did two homes go so high while the third did well, but not as well? The fact is buyers are craving quality inventory. They will pay high prices, but they carefully analyze the suitability and appeal of the home they are buying. Here are some features that add value:

  1. Natural light
  2. Flow to the outdoor spaces; people love kitchens with French doors out to the backyard
  3. Parking and access from the car to the house
  4. Real hardwood floors and original details

Here are some factors that do not add value:

  1. What you want to yield from your sale
  2. What you paid for the home
  3. What your neighbor's house sold for a few months prior
  4. Newer finishes that are dated; buyers will not pay extra for something new if they don't love it

And then there are location details that typically reduce buyer interest: a busy street, a corner lot, or close to a freeway and its noise. Those external issues affect value and need to be considered when pricing your property and setting your expectations for results.

My job is to get your home sold for the highest price that the market will bring. That begins with helping you benefit from my experience so that you can see your home from the market viewpoint. With this understanding we can work together through any sale confident that, in the end, we attained the best result possible for that house, at that time, in those market conditions..

If you are considering selling your home, let's talk!