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Posts Tagged ‘“Luxury homes for sale”’

creekside-place-homeTiming is important in every aspect of someones life, never more so than the optimum time to sell their home. There’s probably fewer landmines when selling a home in Davis than other areas and timing is not as important here than maybe some other communities. Even now as the inventory increases, well priced homes are selling rapidly and in some cases, above asking price.

Even as the year started, home buyers were out in mass visiting open houses and making offers. As home values continue to increase, up 20% since 2012, there are a few concerns that might reverse the current trend. Mortgage rates are expected to rise between now and the Fall season. This will affect how much home a buyer can purchase and possibly put a dent in the surplus of buyers that are currently on the market.

The other obstacle is the new Cannery Subdivision that is now laying the ground work for a Summer grand opening. The expected price of these new homes will be in the neighborhood of $600,000 and up. They will also have some of the highest taxes in Davis, but families looking for a new home will certainly wait for this opportunity. Beware of the first phase of any new subdivision, they always offer the least desired location.

Enough of the negative. We currently have 85 properties for sale in Davis at an average listed price of $694,685 and a price per square foot of $346. There are 77 homes in pending status that average $593,195 and a price per sq ft of $334. As of May 11th this year, there have been 158 properties sold at an average sales price $556,608 and a price per sq ft of $330.

Through the same period in 2014, there wer 139 Davis homes sold at an average sales price $551,372 and a price per sq ft of $306. In 2013 we had 163 sold properties at an avg. sales price of $483,344 and a price per sq ft of $273. The early signs are obvious that property values are up, but those numbers would also suggest that home values in Davis will continue to rise for the immediate future.

The pending home sales will increase the overall sales price over the next few months. Timing is vital when selling a home in Davis, California and the time is perfect for home sellers in the current housing environment. Please visit my website JohnnyBrooksHomes.com for helpful tips on buying and selling a home or to view any property on the market in Davis or our surrounding communities.

 

 

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imagesWhat does the housing market and weather have in common? They are both cyclical. Almost overnight there seems to be a major shift in the housing market. Some of the shift can be attributed to the time of year, but as we go through the numbers, the change will certainly catch your attention. If we use increments of 60 days, the last 3 cycles are startling.

The most recent cycle would be August 21st through October 21st. There were 90 properties sold during that period at an average sales price of $535,412. The average price per square foot was $308 and those properties averaged 35 days on the market. The second cycle would be June 21st through August 20th. This is considered the heart of the selling season for Davis and every other community in this country. There were 123 homes sold with an average price of $569,297 and a price per square foot of $313.

The last cycle from April 21st through June 20th will only reinforce the drastic changes the Davis housing market has experienced. There were 125 sold properties with an average sales price of $581,317. The price per square foot was $322 and these properties averaged 23 days on the market. That’s a 10.8% drop in home values since the April through June cycle.

The price per square foot also dropped slightly to 4% over that same period.  The average days on the market rose by 35% from the 1st to the 3rd cycle. These numbers are just small windows and not meant to alarm homeowners.  As a matter of fact, home prices are up 10.7% year to date from 2013. The average price per square foot increased from $283 in 2013 to $308 this year. That’s an 8.8% jump.

As the year’s peak selling season comes to a close, the inventory of available homes for sale will continue to decrease and buyers will be able to find good valued properties throughout the last two months of 2014. If you are contemplating buying or selling a home, please contact Johnny Brooks at Coldwell Banker in Davis. We out sell competing agents by a 3 to 1 ratio. Not only does Coldwell Banker in Davis sell more of our own listings than our competition does, we also sell more of Lyon’s and Re/Max’s listings than they do, by a wide margin. Please visit my website http://www.JohnnyBrooksHomes.com for helpful tips on selling and buying a home, scan my informative blogs and easy access to view all local area homes for sale in Davis, California and the surrounding communities.

 

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Kitchen Sept 2013When rating the importance of any particular room from a home buyers perspective, a kitchen ranks right at the top. The kitchen is considered the vocal point for most families. Neglecting a kitchen can be a huge detriment during the sell of a home. Here are a few suggestions that can make a difference.

Cabinet Doors

Damaged or dirty cabinet doors are a big turn-off for buyers. But that’s easy to fix. Most cabinetry can be re-painted after cleaning it and applying a coat of primer. Just check that the materials can take paint or whether you need to give any special preparation to the doors first. Alternatively, you can just replace the doors. There are companies that provide doors to fit existing kitchen cabinets.

Hardware

Another way to fix up cabinets is to replace the hardware, perhaps changing out-of-date fixtures for sleek, modern ones. This is a very cheap and easy way to update your kitchen.

Sinks and faucets

Try trading your faucets for more modern designs and replacing a damaged or very dirty sink.

Appliances

People love modern stainless steel appliances. It could be a good investment to upgrade your appliances to the most modern designs to give your kitchen the ‘wow’ factor.

Backsplash

An easy way to update your kitchen is to replace the backsplash. Subway or mosaic tiles or a sheet of stainless steel are very popular right now, and this quick change can really lift the feel of the room.

Flooring

Dirty, tired linoleum floors will turn off buyers. Try updating with tough laminate flooring or some tiles that tie into the rest of the kitchen.

Paint

Change the décor easily by repainting in fresh, modern, neutral colors. A coat of paint can be a very cheap way to refresh the look of your kitchen.

Clutter

Just by simply removing the clutter that accumulates on your countertops, you can freshen up your kitchen. Throw out things you don’t need; put away others you use only occasionally. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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gorgeous landscaping AugustCreating an inviting landscape not only ensures a positive first impression with buyers but may also increase your home’s value and lead to a quicker sale.

You don’t have to spend a lot to make big improvements in your home’s curb appeal. Keeping your lawn manicured – mowed and edged – and trimming bushes and trees is an inexpensive way to make a positive impression on buyers. You’ll also want to remove any dead or diseased plants and ensure beds are weeded and freshly mulched.

Before beginning any landscape project, make a plan. And if you live in a neighborhood with restrictive covenants requiring approval by a landscape committee, be sure to follow proper procedures to avoid spending money on projects that you may be forced to undo later. A project plan will also help ensure that you make wise choices and stay within your budget.

Use color and depth to create visual interest, and select a variety of plants that bloom or change color throughout the year so your yard will be attractive regardless of the season. If your yard is open to neighbors’ yards, a street or public areas, consider screening to create a more private space. This can be accomplished with evergreen trees and bushes or with an attractive fence.

Sometimes what you remove from a yard can be as important as what you put in. If the front of your home is obscured by overgrown trees or bushes, remove them or trim them back to help buyers get a clear view of your home. Remember that the goal is to create a welcoming first impression that says, “Come in!”

Trends in landscaping

  • Low maintenance vegetation: less lawn to mow, helps keep weeds in check.
  • More trees: enhance beauty and provide shade.
  • Decks, patios and terraces: offer outdoor living space for dining, entertaining and relaxation.
  • Outdoor lighting: provides enticing views of your home and landscaping at night.
  • Irrigation system: costs more but simplifies lawn care and is attractive to buyers.

Beautiful landscaping can make a difference in the way a buyer will view your home. If you neglect the yard, what else have you neglected is the way a buyer approaches a home with poor landscaping. Prepare your home for sale by starting with that all important yard. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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banks mortgage ratesThe more things change, the more they stay the same. That at least seems to be the truth with rising mortgage rates and the sizzling housing market. Each upward adjustment with rates has caused concerns within the housing community that changes are on the horizon. There has been minimum impact on the overall interest among home buyers, even though rates have increased substantially over the last two months.

Existing home sales fell 1.2% in June, in a report that mostly reflected deals that were made before rates began to rise  in late May. Nationwide, there was a 1% increase in applications for mortgages tied to home sales the week of July 12. During mid-June, when rates were surging, purchase related applications rose by 5% from week to week.

Buyer confidence is not waning, even as fixed 30 year mortgage rates have dipped to 4.37%, after rising more than a percentage point between mid-May and late June. Home builders are feeling exuberant about the present and future as confidence rose 6 points this month, to 57 on a 100 point scale. The confidence index dipped below 10 during the housing bust. July’s climb reflected both higher traffic at traditional open houses and new home developments.

From a historical perspective, rates are still relatively low compared to most of the last 4 decades. The other factor contributing to the upsurge in housing are the shortage of available homes to purchase. Recent surveys show the percentage of sellers who think it’s a great time to sell is still, hence the increase in inventory over the last couple of weeks. Seller shortages are actually a much bigger obstacle for most buyers than rates.

Most properly priced homes are being scooped up with multiple offers. A significant number of these homes are being purchased with all cash buyers, there in lies the other barrier facing buyers with loans. Everything else being equal, sellers are naturally attracted to these cash buyers. With every segment of buyers now back in tow and pursuing homes, this makes for some fierce competition that should continue for the forseeable future.

Will continuous increases in rates stall the market? Could a back log of pent-up inventory coming on the market at the same time, slow the housing locomotive? These are questions with no sure-fire answers. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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HousingSelectionLogo2013The local housing market, like the rest of California has had a tremendous growth spurt through the first half of 2013. The first six months of housing in Davis could be defined as a rousing success. The number of sold homes were comparable to 2012 numbers, all other categories were greatly improved. Before we diagnose the pulse for the next six months, let’s take a closer look at the first six months.
                     # sold    Price Avg.   Days on market   Price per sq. ft.
2013 totals-    254      $496,965       42                           $280
2012 totals-    241      $450,550        77                           $253
2013 Central- 34       $533,398        36                           $318     
          North-     56       $476,067        33                           $267
          East-        60       $453,257        32                           $287
          West-       53       $492,036       40                           $278
          South-     51        $552,169        68                           $264
2012 Central- 33       $514,439          60                          $295
          North-     60      $383,440         94                          $230
          East-        63       $416,552          69                          $258
          West-      44       $462,574          61                           $261
          South-    41        $536,672          95                          $236
Home prices were up significantly in each area of Davis, while days on the market decreased in all five locations. Price per square foot improved substantially in 2013 compared to 2012 numbers. When we look at the current properties in pending status, the listed price is above the average
sales price for the first six months, which correlates to prices going higher after these homes close escrow.
The inventory will stay relatively low for the rest of 2013, which is historically normal for the fall and winter months. There will not be a 10% increase in prices for the second half of the year, but a 2% to 3% increase would still be enough to keep prices in the double-digit category for the entire year. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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efficient homeRunning an energy-efficient home this coming summer doesn’t necessarily entail buying expensive solar panels or wind generators. Neither does it mean you have to leave the a/c on 24 hours a day.  Here are 8 useful tips.
Laundry: Wait until you have a full load of laundry and run the machine on cold. Detergents are available to clan clothes at low temperatures.
Dishes: Don’t pre-rinse your dishes as this wastes energy. And wait until the dishwasher is full before turning it on. If you have the time, use the air dry or no-heat dry settings so the dishes dry without using electricity.
Windows: In the winter during the day, open the blinds on south-facing windows to allow the sun to warm your home then close them in the evening to increase insulation. (In the summer, you can do the opposite to keep your home cool.)
Computers and TVs: Turn off your appliances when you are not using them. Even when they’re in standby mode they are still using electricity — it’s estimated 5% of household energy use is from appliances leaking away electricity. So turn them off at the wall.
Showers: While a long, hot shower is nice and relaxing, you can save a lot of money taking shorter showers and by installing energy-efficient shower heads that give you a good shower while reducing water use.
Space heaters: Surprisingly, space heaters are a lot cheaper than a central heat.  And don’t forget to turn them off when you’re out. Installing a programmable thermostat will also keep your heating bill low.
Furnace filter: Change the filter at the start of every season and then every month or two after because a dirty filter makes the furnace work harder and be less efficient.
Floors and drafts: If you’ve got hardwood floors, put down some rugs, particularly if you have wood floors above a cold basement. Make sure also that you’ve installed insulation such as weather-stripping at the bottom of doors. Like all other necessities, energy bills are on the rise. Being aware of the optimum times to run appliances such as heat and air, dishwashers & washer and dryers will increase your chances of keeping that hard-earned dollar in your pocket. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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