Condominiums: 96 (Prices from $107,000 to $409,900)
Average condo price:  $210,764 ($201/sq ft)

Houses: 111 (Prices from $349,900 to $1,550,000)
Average house price:   $565,345 ($280/sq ft)

Short Sales and REOs:  93

Available properties by price range:

Under $300,000: 85

$300,000 – $499,999: 61

$500,000 – $699,999 : 48

$700,000 & Up:  16

Properties put into escrow last week: 19

Least expensive house: The least expensive home that went into escrow last week was listed at $389,900. It was a short sale, so there is no guarantee that it will be approved by the lender at that price.

Least expensive condo: The least expensive condo that went into escrow last week was $120,000.  It was also a short sale.

Most expensive home new escrow : The most expensive home that sold last week was listed at $649,999 and was on the market for only 36 days.  It was 4 bedrooms, 3 baths, with a 3-car garage and over 2700 square feet on an 8000 foot lot.  It appeared to be in upgraded condition and was not a short sale.

Most expensive closed escrow : The most expensive closed sale was a lake front home that was sold as a short sale.  When the price was reduced from $849,000 to $699,000 it sold in 8 days, then closed at $725,000.

Call me if I can help!

“Gee – why don’t you ask your Realtor?”  I asked.  “She is from out of the area and doesn’t know.” was her answer.

OK, I get it.  She wants to save money, so she listed the house with a relative or friend who is probably not charging her much, if anything, to put the house in the MLS.  Maybe she is a part-time agent who sells one house per year, or less, for friends.  Maybe she is a brand new agent who just got her license and has never sold any houses, but this person wants to help her get started.

Maybe there are a lot of good reasons to list with someone who doesn’t know how to find some basic information about the property, but I can’t think of any worth taking that risk if I were the seller!

Other things she may not know:

• Is that neighborhood considered more desirable than the one 2 blocks away where you got all of the comps?
• Is the school for that neighborhood on the list of potential school closings for next year?
• Are there any neighborhood problems that will require a special assessment to fix?
• Is the city going to put in a new traffic signal, or widen a street that will affect the value of this house, or neighborhood?
• Have many of the homes in that neighborhood had recent slab leaks or other physical problems that should be addressed before marketing?
• Is there an environmental issue that the City, County or HOA is currently fighting?  (We had an invasion of bugs many years ago that killed a lot of trees in a particular neighborhood!)

I gave her the answer to her question, she thanked me and told me that I was the 3rd agent she had called, and the others had just told her to look up the City Building Department in the phone book.  (Of course, she didn’t have a phone book for this area.)

I will just keep an eye out for a listing with an out-of-area agent who will probably either over-price it, or under price it substantially, and not be able to answer any questions that the buyers or buyer’s agents call about.  I wonder if I should help one of my buyers “steal” this house!

3 beds, 2 full baths
Home size: 1,808 sq ft
Lot Size: 5,520 sq ft
Added: , Last Updated: 03/06/11
Property Type: Single Family, Residential
MLS Number: S650333
Community: Lake Forest South
Tract: Influential Homes (IH)

Listed with Divina Buehlman (w/ ), First Team Real Estate

This is a good one – located on cul de sac in great neighborhood!  (It really won’t last long)  Sun & Sail Neighborhood with low dues and no Mello-Roos Tax.  Call me today to go see this one!  Vicki – 949-457-0281

Today, it’s different!  REALLY different!

Not only does the house need to be priced correctly, it needs to offer something special that will set it apart from the others.  I call this the “WOW Factor.”  Without the WOW, your house is just ordinary!  Ordinary homes are not what the buyers are looking for today.  They did not buy during the price run up a few years ago, they are conservative and patient, and they will not buy now unless they feel that they are getting something special.

What will make it special?  What are some of the “Wow Factors”?  (Almost anything that makes you smile!)

• Staging – This may include fresh paint, new carpet, furniture, art & accessory placement.   The home needs to delight the buyers and keep them nodding their heads and saying “Wow – this is nice!”  while they are walking through.  Other simple staging hints include new bedding and pillows, bathroom towels, framed bathroom mirrors and updated light fixtures.
• Upgrades – I don’t recommend adding expensive upgrades as you are moving out, but recognize that recently remodeled kitchens, baths and replaced windows will add value in most buyers’ minds.
• Outstanding Curb Appeal – When you look at the house from across the street, it needs to be attractive and inviting.  A healthy green lawn, neatly trimmed trees and bushes, colorful flowers, and a clean empty driveway go a long way to making a good first impression.  If the paint on the house is starting to fade or peel, get it painted!  Make sure the front door is clean, the door bell works, and put a new “welcome mat” on the porch.
• Locational Features – If your home has a panoramic view, huge backyard, or extra-desirable location, you probably bought it for that reason and your buyer will too!

If you are thinking about selling your home, I can help you create the “Wow Factors” that will make your home sell sooner and for a higher price.  Give me a call and I would be happy to meet with you and go over a plan to add or emphasize the “Wows” for your home!

Thanks for reading!