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Reali Roundup: California Buying Season Starts…NOW 🏁

March 26, 2021

3 MINUTE READ

Welcome back, California! As the spring buying and selling season draws ever nearer, we’re giving you a quick rundown of crucial to-dos to help you smoke the competition. On top of that, we’ve got the latest on Southern California’s home price outlook, which might require an oven mitt to handle. Check it out below!

SoCal’s Feb Home Prices Sure Ain’t Afraid of Heights

We don’t mean to go all broken-record here, but new heights continue to be reached: median sales prices for Southern California’s six counties jumped nearly 15% from a year earlier to $619,750, while sales surged 17.6% from February 2020. Let’s face it, current conditions are a spicy mix: low borrowing rates, increased demand for space, and first-time Millennial buyers have all turned up the heat.

But! As mortgage rates fluctuate, the calculus may be beginning to change. Here at the home office, the feeling is that there are a lot of winter itches about to get a good scratch.

Spring Buying Season Checklist

Spring is here! And with vaccinations ramping up, homeowners are sure to start feeling better about letting strangers poke around their homes. So buyers, get ready. Being prepared means the experience doesn’t have to be the ordeal you’re imagining. Taking these steps will jump start your success and keep your stress levels from spiking into Coronary Country.

  • Check your credit: This is an obvious one, but if you’re not constantly monitoring your credit score, sorry, you’re doing it wrong.
  • Know what you can afford: With the market as hot as it is, you should shop for houses 10 to 15% below your max budget.
  • Pay more, or pay cash: Because sellers don’t normally accept baseball cards, things like a bigger down payment, or better yet, a cash offer, are game changers.
  • Research the market: Familiarizing yourself with the lay of the land and defining your priorities early saves everyone time and headaches.
  • Get a buyer’s agent: Obvs, we’ve got you covered, baby.
  • Be ready to pounce: Have your financials in order so when it comes time to move, you’re not fumbling with your shoelaces, as it were.

Make these six moves, and you’ll come away with a useful game plan to buy the home for you. From there, it’s just a matter of remembering to bring a pen.

 

Spring Seller Season To-Dos

If you’re keen to sell and have been keeping your powder dry, making these smart moves now will go far toward ensuring you get the most out of all you’ve invested.

  • Get your home inspected: It’s never too early. And depending how far you’re willing to go to maximize sales price, the sooner you know about any hidden issues with your home, the better.
  • Prep your home for listing: Nothing beats a great first impression, so be sure you put your best foot forward. Spring is the perfect time for a deep cleaning. Paint the walls. Kondo everything.
  • Move out: Vacant homes make the most money, so if that’s not quite doable, get as close as you can. If you’re buying a new home, Reali Trade-In makes it happen, getting you in a new home before your old home sells. But, if moving out before the sale isn’t an option, Reali Concierge can provide you with all the cleaning and staging bells and whistles.
  • Select a well-qualified buyer: Price is important, but it isn’t everything. First time sellers are always surprised when a buyer “falls out.” It can happen for many reasons, but they’re usually financial. The fewer contingencies a buyer comes with (read: cold hard cash), the likelier the sale is to close.

Following this route is sure to make for an easier journey, and with luck, a successful sale at a price that you’re happy with.

Featured Homes

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Corona 4 Bed, 2 Bath

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Boom, you’ve been rounded up! Wishing you a safe weekend!