Advice for Russian River Real Estate Sellers

Homes in the Russian River Area have the charm and character people come here to experience. We are so privileged to own property in what has become known as "The Wine Country", a very sought after location which commands higher and higher prices as each year passes. Our redwoods and famous park, Armstrong Woods, bring us reknown as a fabulous destination for nature lovers.

If you're reading this column, you're probably thinking of putting your dearly beloved, house, that is, on the market! Let's help you get organized to make this happen as favorably for you as we possibly can!

Your first task is to select a local agent who you feel can be a serious source of advice and represent you from the preparation stages of getting your house on the market, through the escrow to the day you close. It is imperative that this agent know the Russian River Area first hand and in depth and that you feel convinced that she/he will do their best to get you the best price possible in the market you are listing your house in.

Essentials to consider in choosing an Agent:

Know how much business the agents you are contemplating using, actually do. If they live and work full time in the Russian River Area, they will have a handle on the value of properties vis-à-vis location, condition and amenities. You want top dollar for what you have to offer and want an agent who can step up to the plate to help you achieve this goal. There are also important disclosures for buyers that a good Russian River Area Agent will not overlook to protect you from the litigious environment in which we live.
Talk to them, do they sound like they can negotiate well for you?
A large percentage of buyers now seem to come through internet sources. Will your property be advertised loud and clear through a good internet site when potential buyers search the Russian River Area.
Is there local "old fashioned" exposure in window presentations to "walk-by" traffic, still a very big source of buyers who come to enjoy the Russian River and the Wineries our area offers.

We are top producing agents who work for Prudential California Realty, the real estate agency with the highest sales results in the Russian River Area every year since 1994. We are known for our sensitivity to our clients - big or small, local or long distance. We are great listeners and excellent negotiators on our clients' behalf.

We make the time to take care of the smallest issues you might have and back it up with Blue ribbon technical credentials, an accomplished track record and... more important to you - Action!

The first tool you'll need is a notebook adequate enough to follow you from the preparation stage through the close of escrow stage. This little book will make your life easier in a multitude of ways if you keep it close by and refer to it. Makes notes of repairs, replacements, upgrades you have done to the property, all of which you will need to pass on to your buyers, questions to pose to agents you are considering hiring, bits of advice from your agent, the escrow calendar, once you get your home into contract and a myriad of other notes as reminders.

When you wake up tomorrow, you will now start looking at your own home as if you were a potential buyer. Buyers, as a general rule, like to see a property that shows pride of ownership. They feel reassured when the house sends this message to them and this reassurance encourages them to seriously consider purchasing it. Since most of our homes are of older stock, we do have to be extra vigilant with regard to maintenance and upgrading as the years move on. A house is a living organism and like anything that is alive, needs nourishment and care to stay healthy.

We have known sellers who do not want to find themselves confronted with a buyer coming to them after doing their inspections and saying, "Look, Mr. & Mrs. Seller, at all the problems my inspector found with your house !" If it is a sellers' market, you, as a seller, will very likely have to make very few, if any concessions. If, however, it is a buyers' market, you could end up with substantially less in your closing check than you had anticipated. So, in order to learn what problems your home has, if you have sufficient time before putting your house on the market, consider having your own home inspection and pest inspection done. These inspectors will give you a "punch list" of repairs to be made, or suggestions to improve what is there. That way, you avoid most surprises which buyers' inspectors will uncover during escrow. Make sure, however, if you are going to go this route that you don't wait until the selling and buying season in the Russian River are close at hand because you could miss the rush of buyers while you're tending to repairs you could have done in November, December, January and February.

Accompanied by your new best friend, your notebook, walk through each room of the house and write down what you see this room needs to have done so not to raise the eyebrow of a visiting buyer.

Sparkle Plenty

Particularly bathrooms and kitchens. Make them shine. Buy that tube of caulking and run it around your tub or shower. Make your tub, shower, sink & toilet sparkle. Toilets often "rock" because they need a new wax ring. Sometimes the sub-flooring around the toilet, tub and or shower have taken water over time and need replacing. This may be a bigger job than you want to tackle prior to putting the house on the market. Just know that a buyer's pest inspector will pick up on these items and you may very well be asked by the buyer for some compensation to repair these.

Lose the Leaks

Repair leaks under sinks and at faucets. Because of the extensive damage it can cause, water is one of a house's worst enemies.

Clean 'n Paint

Wipe off doors, doorknobs, marks on walls & floors. Deodorize carpeting and rugs if you have pets. Paint the room if it needs brightening & cleaning up. Keep the colors neutral; don't forget, you won't be living in this house and strong colors can be more difficult to adapt to.

Nip 'n Tuck

Oil squeaky doors, secure loose cabinet pulls and doorknobs and steps, make sure windows open & close properly.

Fluff & Stuff

Make sure beds have nice clean linen and pillows on couches are fluffed. The smell of "clean" beats perfumy smells and is more reassuring for a buyer.

Less Is More

Put everything you can in storage, or at least out of sight and out of the path of a visiting buyer. Clutter shrinks the dimensions of your house.

Meet 'n Greet

Stand out in front of your house & assess what a buyer will observe about the exterior of the house. Clean-up is the priority. Piles of wood, random yard debris, children's scattered toys, animal droppings can be easily disposed of with a little bit of motivation. Replace these with flowers, stepping stones, wood chips in the flower beds, yard art and swept steps and porch. These inexpensive improvements will put a smile and a nod on a buyer's face.

Add these to your notebook under "While On The Market":

Shine The Light

Budget in a few dollars more for your PG&E bill while showings are in progress: You be in charge of making you home show well. Don't count on the buyer's agent to have to fumble around looking for the light switches at the time of showing. You've just lost a buyer if that's the case. Leave a note that lights should not be touched. That way, you're "show ready" all day while you're at work. Even bright homes show better during the day with lights in strategic places. Keep blinds and curtains open for maximum natural light.

Disappearing Act

There is no upside to you or your family being there while the property is being shown. On the contrary. First off, buyers can't "snuggle up" to a home and imagine themselves living in it if you are there either, indoors or out. Agents and buyers asking you questions can only put you in a position of representing information you have hired your agent to provide. You may offer information on the property you perceive as positive that may be received in a negative way by the buyer. Don't put yourself in this situation. When you know a showing is scheduled, leave before the buyer and agent arrive and return after their vehicles have left your property. The process is designed to function optimally for all parties this way.

Sure the Commission Matters.

According to California law, real estate commission rates are negotiable and not set by law. It is local custom in the Russian River Area for sellers to pay the real estate commission. We have noticed the addage, "You get what you pay for" has its' place in real estate. Professional representation in real estate is a cultivated skill requiring years of experience and ongoing study. You will always find agents who will represent you for less than the going rate in local practice. Choose an agent who wants to be paid for their research, advertising, local knowledge and guidance during the disclosure process insuring that you have been protected with the thorough job your agent has done for you; you'll get your money's worth. They will be ahead of the pack and will know how to market your property for its' highest price.

Pricing Your Property

When we sit down with potential sellers to discuss what range their property falls into, we feel it has value to point out properties which have elements in common with theirs, in all the following categories: "active (not yet in conract)", "contingent (in escrow)", "pending (ready to close)" and recent "solds". Our experience pricing Russian River Real Estate falls more into the "art" than "science" realm. Each property here is unique and requires a lot of consideration and thought before being able assign a price range to it. Besides, real estate markets are always moving. We could recommend a price during a sellers' market and 2 weeks later, a buyers' market may have imposed a new price.

Keep in mind that if you price your property beyond what similar properties have sold for, in the end, chances are you will sell it for less than you would have if you had priced it right in the first place.

Since the marvelous Russian River is our neighbor, depending on the location, your property may have taken water during the flood years. FEMA maps determine if your property is in the flood zone and this fact could impact the value of your property. River front properties command high prices it seems even if flood waters have visited their interiors. We can discuss these price levels with you relative to the location and condition of your property.

We have extensive experience in pricing Russian River homes. We can put this experience to work for you. We're the best allies you can have from the pricing stage to the closing stage. We've proven this over and over for our clients which explains why most of our business is repeat business. Send us your property details for free valuation of your Russian River Property.

You've Got An Offer!

All your hard preparation work has paid off and you just got the call that an offer has been submitted! We will review every clause of the purchase contract with you and explain your obligations and liabilities. Nothing will be guesswork on your part. If it's a "sellers' market" you may have set a date to review offers, if not, well, a bird in the hand is worth 2 in the bush. We carefully review any offers with you, discussing in detail the implications of what the buyer has asked for in the offer:

Who are the buyers?
Will this be full time, a second home or income property? This will have an impact on the interest rate they have written into
the contract.
What purchase price is being offered?
How long will the escrow period be?
What is the earnest money deposit and which Title Company is
holding it?
Will there be an increased deposit?
Will there be a loan and what will the loan amount be?
How much will the downpayment be?
How long will the loan and inspection contingencies be?
Who is the mortgage broker/lender and do they have experience lending on Russian River Area homes?
Do the buyers need to sell another property in order to
purchase yours?
Have the buyers opted for arbitration or not?
Any other particular requests on the buyers' part, such as personal property they would like included in the purchase?

Depending on the answers to the above questions, and any other buyer requests, we work together to formulate a counter offer to the offer. The counter offers can continue until both sellers and buyers have come to an agreement, or not. Once all sellers and buyers have signed the last counter offer, the escrow begins. You are now in, what we like to call, Phase I of the escrow. This phase typically lasts around 2 weeks. It's the information flow period; the buyers' exploratory period.

We then provide you with the necessary Transfer Disclosure Statements to complete as thoroughly as you possibly can. We are there to guide you through this important and delicate task. The Transfer Disclosure Statements (TDS) are then turned over to the buyers to process. Your home will be open to the buyers to do their inspections. Don't perceive the buyers' inspections as invasive but rather an opportunity for them to collect information from professionals about your property. You may have forgotten to disclose a problem with a feature of the house and chances are, the inspectors will find it. The more information the buyers collect from all kinds of sources, the lower your liability will be.

You'll be sufficiently busy during this time making plans for your new destination; however, if your plan is to buy another home, we caution our sellers to make what is called a "contingency offer" on that property. If the buyers on your home make a discovery during their inspection period and choose not to purchase your home, you will at least be able to have your deposits returned for the property you are trying to buy.

Your buyers may have discovered problems with the property during their inspections and upon the removal of their physical inspection contingency may ask you to credit them some money to be able to cure these unexpected findings. Again, depending on the market and your motivation, you may choose to concede to the buyers' request, or at least to meet them part way. We are there to assist you in making a decision which won't jeopardize you keeping your buyers on track to close on the property but also for you to realize the highest gain possible on the sale. Once you and the buyers have reached an agreement, the escrow goes into Phase II, usually a 2 to 3 week duration.

In Phase II, the buyers are working closely with their lenders, getting utilities ready to be put in their names and finalizing homeowners' insurance. When the buyers remove their loan contingency, you will be pretty much assured that the property is on track to close. Start packing!

A sales process is usually a complicated and an emotional one because the financial stakes are so high. Important decisions have to be made constantly. We have the reputation for guiding our clients into a successful close where they have reached the highest financial reward from the sale of their property, supported by top professionals' advice during the disclosure process keeping them safe in our highly litigious climate, as they move forward into their new lives.

Call: 707.529.6617

| | | | |
| | | | | |
| | | |

Site by Webhelper.