Morgan's Minute - A Blog on All Things El Dorado County

Let’s answer 2 important questions today…

1. Are we in Selling Season and when will it end?
2. Do the Seller’s current expectations meet today’s reality?

Diving right in! Are we in Selling Season yet? A resounding YES! Both from what I’m seeing (multiple offers, homes selling quicker than a couple months ago, and open house attendance) and from the stats, I can firmly tell you we are in Full-On Selling Season. 

The graph you see below shows the last 15 months of Homes For Sale (light green) VS Homes Sold (dark green) in the given month. Please note that the Homes Sold generally accepted an offer the month prior (IE An accepted offer in April is a Home Sold in May). 

You’ll notice that this February had more homes sell than in January. This is the indicator that the Selling Season has begun. Home Sales rise, and also a higher percentage of homes for sale actually sell (40% of homes sold in February vs 25% of the homes in January). This means things are tougher for Buyers but easier for Sellers.

So when will it end? Though last year had some additional factors (IE mortgage interest rates rising steeply)., you can see that May of 2022 was when the most homes sold. Then from June on the number of Homes Sold began to drop. So since the Homes Sold in May likely accepted an offer in April, the main part of our selling season would be February through April. That’s when the percentage of homes selling is at it’s highest. May and June we still have plenty of home sales, but the percentage of homes sold begins to drop off, so I would consider that “Shoulder Season”. May, June and July are also when we typically see the MOST homes for sale (inventory) and thus the market becomes more negotiable for Buyers and tougher to sell for Sellers.

None of this is “bad” news. It just means that when you decide to buy or sell, you need someone to explain to you exactly what’s going on in the current market in order to make the best decisions for yourself. 

Now let’s answer question 2: Do the Seller’s current expectations meet today’s reality?

If you take a peek at the graph below, you can see the Green line represents the Average Active Price (For Sale Price) and the Red line represents the Average Sold Price. 

Last month the Average Active Price was the highest it’s ever been at $1,025,000. That’s an increase of 4.6% from last February. And yet, the Average Sold Price was $711,000, a decrease of 3.1% from last February. Interestingly, it appears Sellers remain very optimistic about the sales price of their homes. Thus, Seller’s expectations are not inline with reality. 

Reality is we have a slow overall decrease in prices and a more negotiable market than the last couple years and in order to sell efficiently and get the top price  it makes more sense to list at a fair value not an upward trending value. By pricing fair, you have a higher chance of selling and a lower chance of Buyer’s driving a hard bargain with their negotiating tactics.

There are so many factors when it comes to deciding to Sell or Buy a home. And though many people want to Buy or Sell at the BEST time, it may be wiser t contemplate the best time FOR YOU. And then work within the parameters of the market to make great decisions on strategy. I’m always available to help you with that - just reply to this email or give me a call. 530-503-5225.

CLICK HERE WATCH VIDEO FOR MORE INFO:

4019 Pearl Road, Pollock Pines
4 BD  |  3 Full Baths  |  2,373 SqFt  |  $565,000

Custom home with an updated cabin vibe nestled among the pines. Views and privacy abound! With a treehouse feel, the main level is flooded with natural light from the wood floors to the vaulted ceilings. Updated kitchen with stainless steel appliances and quartz counters opens to the living room and overlooks the large covered deck. Main floor Primary bedroom features outdoor access, 2 walk-in closets, tub, oversize shower stall, and dual vanity. Downstairs are 3 additional bedrooms, full bathroom and family room. Downstairs also features it's own covered deck. Upgraded features include NEW roof (2021), OWNED SOLAR (2021), steel beam construction (more insulation and no wood rot), tankless water heater, and trailer/RV/boat parking. This home is within Gold Ridge Forest HOA which includes snow plowing and use of a pool, clubhouse, tennis courts and more!

For more property information CLICK HERE

Rare find in El Dorado County! Waterfront lot with direct access to pond. Imagine morning coffee on your back deck watching the geese or Summer afternoons swimming and fishing...right out your backdoor! Gently sloped lot with a few great Oaks to provide shade and landscape.

CLICK HERE FOR MORE INFORMATION

3 Beds  |  2.5 Baths  |  1,247 Sq Ft  |  0.08 Acre

OFFERED AT $345,000

Wonderful corner lot on a quiet cul-de-sac in convenient Diamond Springs! Spacious open concept first floor is perfect for casual living and entertaining. Fenced in backyard with large patio is private and a blank slate for your dream garden or swing set. Upstairs features an oversized Primary bedroom with large walk-in closet and ensuite bathroom. 2 generous sized spare bedrooms are great for a home office, children, or guests. Extra deep 1-car garage allows for tons of storage and the 2 car driveway is a bonus in this quiet, convenient neighborhood!

 

3 Bedrooms  |  2 Bathrooms  |  1796 SQFT  |  0.68 Acres

Offered at $380,000

Dreaming of a home near a river? One of the best homes on one of the largest lots is available in the lovely community of Outingdale with EXCLUSIVE access to the Cosumnes River. Imagine taking a 2 minute stroll and being at a private beach with multiple swimming holes! Featuring cathedral ceilings, open concept layout, extra deep garage, 2 decks for BBQs and lounging, brand new exterior paint, wood burning stove, and TONS of storage! Kitchen has high quality Kraftmaid cabinets, 2 pantry closets, long peninsula AND island. The Primary Suite has it's own private deck, ensuite bathroom with jetted tub, and oversize walk-in closet. Under the home is an unfinished basement area perfect for a TV/Game room, extra guest sleeping area, or home office. Short drives to Fair Play and Plymouth wine countries, Placerville, Sutter Creek and more! This home is perfect to make everyday feel like a vacation!

CLICK HERE FOR MORE INFORMATION

CLICK HERE for Video Tour

Who doesn’t want more 👀 on their home, right? 

I mean, the goal is to get the very best price you can. And the more showings you have the more offers you get. 

So here’s how to get your UNFAIR share of attention on your home when it’s listed:

☝️ Focus on the Lifestyle: The description and pictures need to tell a story of WHY someone wants to live in that house. After all, people don’t just buy a home because it has 3 beds, 2 baths and 2,000sf…they buy because they feel emotionally attached! So highlight the best features with staging, description, photos and videos done in an intentional & strategical way.

✌️Apply the Magic of Staging: Have you ever been in a model home? Well, let’s just say I’ve never been in one that didn’t make me wanna live there! There is so much power in having a home professionally staged. A Pro knows how to tell a story through furniture and decor…the story always being a welcoming home that almost anyone can imagine themselves living in. Make sure you have THAT magic!

🤟 Price It Right: Even if your marketing is ON POINT, if your pricing is off your home will get ignored. A strategic list price is 90% of the game - so make sure yours lands you with MORE buyers looking, and not less. I mean, you do want them fighting over the home, right? 😉

Wanna work with someone who understands these strategies and more?? Send me a DM and we can get the conversation started 💙

I've had more than one home buyer come to me completely surprised that there were more costs to buying a home than a down payment. 
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So here's the skinny on what it REALLY costs to buy a home.
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⓵ Down payment: VA and USDA loans have a 0% down payment - but most loans require between 3 and 20% of the purchase price as a down payment. 
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② Loan and escrow closing costs: These costs include what the mortgage lender is paid upfront, prepaid property taxes, homeowners insurance, title insurance, and other fees. Typically these fees add up to 1-3% of sales price. 
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⓷ Home Inspections: In our area, it's commonplace for the home buyer to pay for most of the inspections. The 2 most common inspections are a Whole Home ($450-700) and Pest/Termite ($100-200). In rural areas it's normal to also have a Septic inspection ($150-600) and a Well inspection ($500-700). 
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④ Moving Costs: If you are doing a local move and using a Uhaul, it could be as little as a couple hundred dollars. But if you are using professional movers and moving long-distance the cost could be anywhere from $3-10k. 
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What other questions do you have about buying or selling a home? Send me a DM or give me a call - I'm always looking to answer YOUR questions and get you educated. After all, education is power. 💪

Ready to begin your real estate investment journey?