Most San Diego Homeowners Don't Realize This Until They Try to Sell

George Lorimer | 619-846-1244
Your Home Sold Guaranteed, or I'll Buy It!*
*Conditions apply, ProWest Properties, DRE# 01146839

A kitchen remodeled 10 years ago may no longer add much value in today's market.

I know that sounds harsh.

After helping over 1,000 San Diego families buy and sell homes, this is one of the biggest surprises I'm seeing right now.

We're in the middle of our busy late spring and early summer market. In many ways it looks similar to what I've seen over the years, but there are a few trends that are catching homeowners off guard.

Here are four things I'm seeing from the front lines of the San Diego housing market.

1. Your "Updated" Home May Not Be Considered Updated

Many homeowners spent good money on improvements 5, 10, or even 15 years ago.

The challenge is that today's buyers often view homes in only two categories:

There isn't much middle ground.

A kitchen remodeled in 2015 may still look great and function perfectly, but many buyers see it as something they'll eventually replace.

The result is that some home owners believe should command top dollar are competing against homes buyers consider fixers.

The good news?

You don't necessarily need a complete remodel.

There are a few simple improvements that can dramatically improve buyer perception and help a home avoid the "needs work" category.

2. Selling One Home and Buying Another Is More Complicated Than Most People Think

Many people assume they can simply sell their current home and buy their next one at the same time.

It can be done.

But it requires planning.

What I'm seeing right now is that concurrent closings are difficult and often stressful unless flexibility is built into the transaction from the beginning.

The homeowners having the smoothest moves are typically using:

• Buy Before You Sell programs
• Seller rent-backs after closing
• Extended possession periods
• Flexible escrow timelines

A few simple contract terms negotiated upfront can make a huge difference later.

3. Sellers Love Cash Offers — But They Don't Love Lowball Offers

Cash offers remain very popular.

Many sellers like the convenience of avoiding showings, repairs, open houses, and uncertainty.

However, sellers are not willing to give away tens of thousands of dollars simply because an offer is cash.

What I'm seeing is that many homeowners will accept a reasonable discount in exchange for convenience and certainty.

They just don't want to be taken advantage of.

That's why it's important to compare all of your options before accepting an offer.

4. Buyers Don't Care Whose Fault The Problem Is

This one surprises sellers all the time.

You don't have to fix every issue before selling.

But you do need to disclose known problems.

And buyers generally don't care whether the issue was your fault, the previous owner's fault, or simply normal wear and tear.

What buyers care about is what it will cost them.

If the roof is nearing the end of its life, the HVAC system is failing, or there are drainage issues, those costs usually get reflected somewhere in the transaction.

The market almost always accounts for deferred maintenance one way or another.

The Opportunity

The good news is that buyers are still buying.

Thousands of San Diego families are purchasing homes every month.

Well-prepared homes are still selling quickly.

The homeowners who do the best are usually the ones who understand how today's buyers think before they put their home on the market.

No obligation.

Just practical ideas that can help you maximize your home's value and attract stronger offers.

George Lorimer
619-846-1244
ProWest Properties
DRE# 01146839

Your Home Sold Guaranteed, or I'll Buy It!*
*Conditions Apply