Although home prices have adjusted slightly from the 2021-2022 highs, sellers who purchased their properties before, or even during the height of the pandemic, should generally come out ahead if they are looking to sell over the next year or so.
On the Monterey Peninsula, move-in-ready homes with curb appeal, desirable locations and competitive pricing are still garnering multiple offers and the final sales price will often go over asking price. Many buyers want immediate use of their new home. They don't want to tackle big projects that could take both time and money.
On the flip side, fixer-uppers, properties with unusual floor plans, those needing updates, and houses with inconvenient locations are taking longer to sell. Average days on market is ticking up and multiple price reductions may occur before a listing finds it's "sweet spot".
With that said, sellers need to make sure their homes are in sale-ready condition so they can attract buyers and maximize sales price. Here are a few suggestions to get started:
Make needed repairs especially health and safety concerns
Paint the exterior and interior if needed
Update old light fixtures and update cabinet fixtures if it will help "freshen" the look
Deep clean your entire house. Carpet cleaning, tile cleaning, window cleaning are essential
Spend some money on landscaping. Prune overgrown trees and brush, get rid of weeds, plant some new bushes and flowers and add bark where needed
Consider staging your home.
If a seller is short on funds, my brokerage offers a program that covers the upfront costs associated with listing preparation and home improvements. When the house sells, the costs are paid back at close of escrow. There are limits on total expenditures but it's a great way to maximize your sales price and put your best foot forward during the listing.