I showed four Rolling Hills homes last weekend. Yes, it was hot, but my out of the area buyer was in town, and we had to seize the opportunity to view a few homes in the buyer’s location of choice. I was delighted to have four houses to show in the buyer’s price range. The inventory in Rolling Hills has crept upward during the past several months.
There are now 36 Rolling Hills properties listed for sale. At the time I pulled the July statistics only three Rolling Hills residences were in escrow with accepted offers. 12 Rolling Hills homes have sold year-to-date.
My “Little Yellow Dot” slider for Rolling Hills reveals the area is in a strong buyer’s market and presents buying opportunities for buyers. Supply and demand are out of balance. Why? Inventory is up, and absorption remains slow. Prices are up, and buyers are becoming more selective in a market that gives them more choices and more negotiating chips at the bargaining table.
What can a seller do to counteract unfavorable marketing conditions? Now is not the time to “test” the market with a wildly overpriced property. If you’re serious about selling, prepare the property for sale by removing as many future buyer objections as possible. Show off the view in its best light. If that means trimming a few shrubs and trees, the result will be worth the cost. Declutter the interior and never underestimate the added value of a fresh coat of paint, clean windows, and sparkling light fixtures. Speaking of light, make sure to maximize both natural and artificial light for all showings. No buyer ever requested a dark and dim home.
The exterior will offer the all so important first impression. Use a discerning eye (yours or better yet a professional’s) and style the outside to perfection. When the home is prepared to go on the market, pricing it is the crucial next step. If you don’t know the market value of your property, make sure your agent does. Next comes marketing. The way property is brought to market can impact buyers’ interest and offers received. Most buyers see a seasoned listing as an opportunity to make a below-asking price offer–sometimes far below.
Don’t be fooled by an agent who offers to take the listing at an unrealistic price. The agent may secure the listing, but it’s a successful sale you’re interested in achieving, and that should be your mutual goal.
Other Palos Verdes real estate market snapshots:
For more information about selling or buying a Rolling Hills property contact Norma Toering 310.493.8333 or email Norma@CharlemagneProperties.com.
Selling Palos Verdes Properties Since 1992