Arcadia

Sold for Over-Asking Price!Beautiful Home on Quiet Cul-De-Sac

This Beautiful Home is Located in the Prestigious Arcadia School District on a Quiet Cul-De-Sac…Completely Remodeled in 2007… Wood Floors, Crown Moulding, and Newer Fixtures Throughout the house…Intelligent, Bright Floor Plan Offers 4 Bedrooms, 3 Upstairs and 1 Downstairs, and 2 Baths in 2,475 Square Feet on a 7,680 Square Foot Lot…Built in 1965…Huge Living Room with Large Windows and Backyard Access…Upgraded Kitchen Features Granite Countertops, Newer Cabinets, Stainless Steel Appliances, and a Cozy Breakfast Nook…Dining Room with Large Windows and Beautiful Chandelier…Master Bedroom includes Powder Area, Carpeted Floors, and Huge Wall-Length Mirrored Closet…Each Bedroom Offers Large Closets and Plenty of Windows…Spacious Backyard With Covered Outdoor Patio…Spacious 2 Car Attached Garage with Direct Entry into the Home…A True Arcadia Beauty in a Quiet Neighborhood!

Arcadia

Selling in Today’s Market: Numbers, Numbers, Numbers

In today’s market, it’s essential to know not only your numbers but the numbers of the neighborhood homes that have just sold. Make sure you hire a local agent who’s been in these homes and understands why the comparable properties sold for the prices they sold for. If you or your agent don’t have this information, you’ll be at a disadvantage because the buyers will.

Pricing Strategy Makes a Difference
Pricing your home correctly in today’s market is more essential than ever. If you price off a dream number, you may end up spending a lot of time on the market, hurting your chances of selling now, hurting your chances of selling later, and you’ll base your move off something that may not really work financially or logistically. No one wants to spend 6 months on the market only to realize at the end that the realistic market price means no down payment for the next home.

A real estate professional who will tell you the truth about your price, chances of selling, and possible hurdles of selling under current market conditions is doing his job. I see situations all the time where an agent will list a home too high for fear of disappointing the owner and after months and months, the home fails to sell and the owners give up on their dream. Hire a true professional who will be honest from the start so you can make the appropriate adjustments right from the beginning.

Knowing the Reasons Behind the Numbers
As you may know, appraisers, real estate professionals, and especially buyers often use price per square foot to determine the value of a home. This number is one of the most important numbers that will show up on internet sites, flyer print outs, and on the multiple listing service. BUT it’s not everything.

This is where the local expert comes in. Hiring a local expert who is fully involved in the business every single day means that he has probably seen most of the homes on the market. He would know that the Smith house down the street only sold for $310 per square foot because the living room was only 8 feet wide, and that yours might be worth $350 per square foot because you have a brighter, more open floor plan. Buyers will come in and try to mention properties that aren’t comparable to try to negotiate your price down, but the professional will be able to handle those situations because they simply know the market.

Your Bottom Line: What are the Costs to Sell
Typical closing costs for sellers include real estate commissions, escrow fees, title fees, termite work, transfer taxes, and a 1 year home warranty for the buyers. A good way to estimate it is to budget 7% of your projected selling price towards closings costs. Lastly, deduct the loans and estimated capital gains taxes to get your proceeds from the sale that you can save or put towards your new home.

How can you make sure to maximize your sales price and increase your bottom line?

Next: Maximize Your Price: It starts before you even get an offer
Previous: Deciding to Sell: What should I consider? What are my options?
Table of Contents: Mark’s Selling Guide

Arcadia

Deciding to Sell: What should I consider? What are my options?

I would like to move because…
Most of the time a decision to sell or move is a result of a significant life event or a changing need like having a new baby, getting married, needing a yard, downsizing after the kids leave home, or just downsizing to reduce expenses. In these situations, it’s not only important to review financial implications of selling but to also consider the intrinsic value of selling and moving on to the next phase of your life.

Many of my personal clients who waited years to move tell me afterwards that they wish they had moved sooner, especially if the move is to be closer to family, to enjoy their retirement, or even just to downsize to help pay for traveling adventures.

When to Sell and When to Lease:
If you’ve decided that now is the time to move, should you lease your home to a renter or should you sell it? The easiest ways to maximize your real estate investment is proper planning.

Why you should sell:
One of the biggest factors to consider for owners who have seen their values go up is tax-free gains. If you’ve lived in your home 2 out of the past 5 years, you can claim $250,000.00 as an individual or $500,000.00 as a couple in gains absolutely tax-free. Of course, always consult with your CPA as every situation is different. If you move out of your home and lease the home out for more than 3 years you lose the homeowner’s tax exemption gains mentioned above. If you have some gains or you’ve reached the limit, it may be a good idea to sell and re-invest the money into another property where you can hopefully do that again in a few years.

Other factors to consider include the ability to afford multiple mortgages or homes, a backup plan for setbacks such as loss of income, your desire to become a landlord, and needing the money to purchase the next home.

When it makes sense to convert your home into a rental:
If you can afford to purchase the next home without selling and you’re planning on keeping your current home as a rental, interest rates are so good these days that you might be able to refinance to a great rate, rent out the home, have someone pay your mortgage for you, and if you’re lucky or have owned the home for awhile, you may even have a little cash coming in each month.

If you’re still confused about what you’d like to do, feel free to contact me or your local Realtor and one of us will be happy to walk you through your options. Otherwise, if everything you’ve thought about still points to selling, the next step is to find out if makes sense to sell in today’s market.

Next: Listing Your Home: How do I get started? What are the costs involved?
Table of Contents: Mark’s Selling Guide

Arcadia

Mark’s Guide to Selling Your Home

Welcome to my Selling Guide! I wrote this guide in hopes of assisting homeowner’s looking to sell answers some of the common questions about the selling process, how to maximize their bottom line, and to make you aware of potential issues to look out for during the sale. Hopefully, you’ll find it useful and if there’s any additional information I can provide, please feel to contact me.

In this guide, I’ll share both a basic overview of how the process goes for selling your home and also share a couple of strategies to get the most out of your home when you decide to sell. I have divided this guide into 5 different sections:

Getting Started: – Deciding to Sell: What should I consider? What are my options?

Arcadia

Just Sold! Multiple Offers! Charming Arcadia Pool Home on Quiet Tree-Lined Street

This Beautiful Home is Located in the Prestigious Arcadia School District on a Quiet Tree-Lined Street…The Bright and Open Floor Plan Features a Huge Living Room, Complete with Brick Fireplace, Wood Mantel, Large Windows to the Backyard and Opens to the Dining Area…The Large Kitchen Features Ample Storage Cabinets, Plenty of Counter Space, and even Offers a Buffet Area for Entertaining…All 4 Bedrooms Offer Large Windows for Plenty of Light…The Large Master Bedroom Offers 2 Separate Closets, a Vanity Area, and Leads to the Full Bath…All but the Master Feature Gleaming Hardwood Floors…Separate Laundry Area…Separate Three-Quarter Bath Services Guests…A Wide Breezeway Connects the House to the Spacious 2 Car Garage…A True Arcadia Beauty in a Quiet Neighborhood!

Arcadia

JUST SOLD! 627 Fairview Ave #B, Arcadia, CA

Just Sold! This beautiful Arcadia townhouse with attached garage is located in a convenient location in the heart of Arcadia close to markets, restaurants, banks, and shopping. It features 3 bedrooms, 2.5 bathrooms, 1,909 square feet and a very intelligent floorplan.

I represented the buyer on the property and was competing against multiple offers. Luckily, I was able to secure the property for my wonderful clients as this was their favorite townhouse they had seen in Arcadia. I do my very best to both find the right house and purchase it at the right price for my clients. If you’re looking to purchase, I would very much appreciate an opportunity to interview with you. To schedule, please call me on my direct line at (626) 203-1396 or email me at mark@markcheng.net.

I do specialize in the San Gabriel Valley, particularly Arcadia, San Gabriel, South Pasadena, Pasadena, San Marino, and Temple City real estate. For outside of the San Gabriel Valley, I can also refer you a great agent.

Arcadia

JUST SOLD! SHORT SALE! 325 E Duarte Rd #A, Arcadia

This home is located in the beautiful city of Arcadia and is part of the Award-Winning Arcadia Unified School District. The sale has been approved as a short sale by the bank and is ready for a new buyer. The home is a large detached townhouse with 3 bedrooms and 2.5 baths totalling 2,128 square feet of living space with an attached garage and small patio. It’s located within walking distance of markets, restaurants, and schools. It features a high ceiling entry, large kitchen, breakfast nook, plenty of light, a large master bedroom with a large walk-in closet, and a master bath with a spa tub. For more information please call Mark or visit my website.

Arcadia

The Increasing Importance of Marketing Your Home Online

In today’s technology driven world, more and more buyers are turning to the internet to look for a home. In a 2006 survey, the National Association of Realtors found that over 75% of buyers start their search online. With so many homes on the market today, it is now essential that these buyers see your home first.

And in the real estate market’s current state, it’s now more important than ever to have a solid internet marketing plan as part of your overall marketing plan. With so many homes for sale, buyers simply don’t have the time to see the hundreds of homes on the market.

What are some ways a technology savvy real estate agent can use to help market your home?

1. Preparing the Home to be Showcased
Even though this isn’t high-tech, preparing your home for showings and pictures is essential for producing showings and eventually offers for your home. In today’s market, buyers are pickier than ever and expecting homes in the like-new condition. If you look at the closed sales, the ones that sell are the ones that are turn-key or in move-in condition. So before you even take a picture, talk with your agent about cleaning, painting, and staging your home to sell.

Below is an example of two very similar homes unstaged (home 1, top left), staged (home 1, top right), staged with a good photograph (home 2, bottom).

2. Photographs, Descriptions, and Virtual Tours
After your home is properly staged or prepared for showing, photographs should be taken, either by a professional photographer or by a realtor with a good, panoramic camera. A panoramic camera will be able to showcase entire rooms and will make the house bigger. So many times, there are beautiful homes on the market with poor photos. And no matter how spectacular your home is, if you have poor quality pictures or a lackluster description, a buyer might eliminate your home without ever stepping onto your property. Also work with your agent to describe the features you love about your house into a description that makes your home stand out. Lastly, virtual tours may also be a good option for showcasing your home but in some instances not having a virtual tour encourages buyers to visit the property instead of just see the virtual tour.

Below is an example of the staircases of the same two homes as above. Left is home 1 and right is home 2.

Below is a picture of the dining room of the two houses. Home 1′s dining room is actually staged better and looks better in real life.

3. Maximizing Exposure for your Home
Now that your home is featured in its absolute best light, it’s essential to get as many people to see it as possible. A technology savvy real estate agent should have a standard way of distributing information about your property online. First, I allow my listings to be sent through the MLS to hundreds of websites, including Coldwell Banker’s, Century 21′s, and Re/Max’s websites. My goal is to showcase my seller’s property to everyone I can, even to agents from other companies because they might just have a buyer for my client’s home. Second, I also have a constantly growing number of sites I submit to, in addition to those above, all to put your property in front of as many buyers as possible.

Although the tools above will help you gain more exposure for your home, internet marketing is not a comprehensive solution but should be used as a part of an overall marketing plan that includes traditional marketing ideas as well. Open houses, broker caravans, signs, and the real estate brokerage network are still vital to selling a home for the most money in this market.

Arcadia

Sold in 1 Day! 409 E Wistaria, Arcadia

409 E Wistaria in Arcadia is a 3 bedroom, 1 bath, 1,029 square foot home in a peaceful area of Arcadia. My clients originally purchased it for themselves and obtained the property at a great price. During escrow, they changed their minds and decided to re-list the home immediately after the purchase.

I immediately contacted another past client who would be interested in the property and sold the property for $30,000 more than my clients had purchased it for. This covered all costs involved in the two sales including escrow fees for both buying and selling the property, title fees, and transfer fees.

I am committed to doing everything I can to help my clients meet their goals, especially when circumstances change and I’m able to help. If you are interested in working with an agent with that type of dedication, please call me on my direct line or visit my website.

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