Top 5 Real Estate Mistakes made by Sellers in La Jolla

A homeowner may be listing their home for a number of reasons.  Unfortunately, many sellers make common mistakes that can be costly in the long run and actually discourage buyers from submitting an offer.  When selling real estate in La Jolla, sellers need to be aware of what they should avoid in order to quickly sell their property at a price they are comfortable and satisfied with.

  1. Overpricing Your Home – Many sellers make the mistake of overpricing their home due to emotional attachments or they choose a price point based on what they would like to net from the sale.  Informed buyers will have done their research and be aware of the comps and reasonable prices for the neighborhood.  A high asking price could force potential buyers to immediate eliminate your home as a possibility.
  2. Over Improving Your Home – Many La Jolla sellers see the benefit of remodeling areas of their home prior to putting it on the market.  While this can increase the property value, some homeowners may take it a step too far.  When remodeling includes awkward additions or changes that are highly personal, potential buyers may be turned off.  A buyer wants to add their own personal touches, not spend time covering yours.
  3. Crowding Potential Buyers – Purchasing a home in La Jolla is a large financial and emotional decision, especially for first time homebuyers.  Potential buyers need time to focus in order to evaluate your home and determine if it is a right match for them.  Overeager sellers inadvertently turn off potential buyers by not allowing them a certain level of privacy during the showing.  During an open house or home tour, think about leaving the home or confining yourself to one room if you absolutely need to stay at home.
  4. Wasting Time with Unqualified Buyers – In our current economy, some La Jolla sellers have seen a potential buyer fall through at the last minute due to finance complications.  Before accepting an offer, be sure to confirm the buyer’s funds or ask them to consult with a loan officer. Obtaining La Jolla real estate loans can be a lengthy process and sellers should seek out buyers who are pre-approved, not just pre-qualified for a loan.  Also, don’t compare your offers based solely on price and examine other factors such as percentage of the down payment.  Always have a backup plan in the event a prospect is denied financing so you do not have to put your property back on the market if your buyer is unable to close.
  5. Not Knowing the Terms of Your Contract – It is important sellers in La Jolla are aware of the terms and conditions in their contract. Before accepting an offer, review the contract with your attorney or real estate agent. They will be able to answer any questions you may have and be able to point out stipulations such as making repairs.  Understanding these requirements can save you time and money.

It is also important to hire a professional with a proven track record.  Their experience and knowledge of real estate market provides you with invaluable advice in regards to pricing, marketing tactics, staging recommendations and more.  For local sellers who are looking for quality agents to help sell their homes, view our directory of professional La Jolla real estate agents.

Top 5 Ways to Increase the Value of your Home in the La Jolla Real Estate Market

With a mild year-round climate, stunning beach views and close proximity to downtown, the demand for homes and properties in La Jolla continues to remain steady.  La Jolla homeowners are constantly looking for ways to add value to their homes, so they receive the highest offer possible when the time comes to sell.  Here are some tips, fixes and updates that can help increase the value of your home in the La Jolla real estate market:

  1. Updated Kitchen – The kitchen is the heart of the home and an updated kitchen is on the top of the wish list for many La Jolla buyers.  By replacing cabinets and installing high-quality flooring such as wood, tile or stone, you can easily increase the value of your home.  With the help of a professional La Jolla contractor, these changes can be made at a relatively inexpensive cost.  Other simple updates include purchasing newer appliances including the refrigerator, dishwasher and stove.
  2. Modern Bathrooms – Bathrooms that present elements of a spa are becoming more popular among La Jolla homebuyers.  If you have standard grade fixtures, look to replace them with higher end finishes and materials.  Materials such as brushed nickel, antique copper and brass, offer a sophisticated appearance, increasing the value of your home.  Also, for homes with multiple bathrooms on different levels, use the same updates throughout for a more unified look.
  3. Master Bedroom Retreat – More buyers are in search of a master bedroom that acts as a retreat from the chaos of daily life.  Small updates to the aesthetic qualities increase value and are typically inexpensive.  Think about adding crown moldings, recessed lighting or adding wall scones to help create an ambiance that reflects a relaxing retreat.
  4. Additional Storage – Especially for older homes that normally lack sufficient space, adding additional storage or ensuring existing storage is functional is extremely important.  Installing built-ins or custom units to closets help maximize the space already available.  The more storage you can provide, the more value you can add to the price of your home.
  5. Curb Appeal – The outer appearance of your home is just important as the inside.  Appraisers state that curb appeal can add as much as five to ten percent to the value of your home.  Make sure you have a well-manicured lawn, trimmed landscaping and a clean driveway.  Colorful plants and flowers and a yard free of weeds also contribute to excellent curb appeal.

The unique and charming aspects of the community are a major draw for many buyers looking to purchase real estate in La Jolla.  Therefore, when making updates or renovations, it is important to keep in mind the character of the community.  Sellers need to be sure their updates are consistent with other styles and homes in the area.  Keeping these simple tips in mind, sellers can enjoy modern updates in their homes, while adding value for future buyers.