3 Things that San Diego Homes Sellers Forget that Costs Them Big

George Lorimer
Tuesday, May 28, 2024
3 Things that San Diego Homes Sellers Forget that Costs Them Big
 Here are the top 3 that I've noticed that have impacted my 1000+ San Diego clients. 

#1. You never know the market peaked until after. Homeowners say things like this after the fact.
#2. Homeowners often forget that they can use their equity to get a better return or buy a more suitable home that might appreciate more.
#3. The third mistake is waiting for circumstances to predict when you will sell.
BONUS ITEM: All agents are the same, and you'll get the same results from any agent. We have more programs like flexible commissions starting at 1% and multiple cash offers without listing your home.
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If you're considering selling and you haven't done so, realize we are approaching the end of the selling season. There's still time, but we have to get a plan going now. Call/text George Lorimer at 619-846-1244.

George Lorimer
Your home is guaranteed, or I'll buy it!*
DRE# 01146839, ProWest Properties, *Conditions apply
3 Things that San Diego Homes Sellers Forget that Costs Them Big
#1. You only know the market peaked after. Homeowners say things like this after the fact.
"I wish we would have sold a few months ago."
"Mortgage rates are up."
"Buyer demand is down."
"More competing homes are on the market."
Did you know that home prices are near all-time highs? Prices have been hovering around 2022 levels, went down in 2023, and are back to 2022 levels.
What's Your Home Value Today?
If you SELL NOW, you're winning! Timing the market is difficult, if not impossible. Likely, your home has appreciated more in the last few years than it will in the next 5-7 years.
You may think home prices will continue to rise forever, but remember that affordability is an issue, and only about 15% of San Diegans can afford the median-priced home.
#2. Homeowners must remember they have other options for their equity, and if they invest it somewhere else, they will receive a return on that money. In economics, this is called an opportunity cost.

If you have $500,000 in a property, you could use that money elsewhere to invest in a better-performing property, a new home that's suited to your lifestyle, newer, could appreciate more, a better area, or whatever.
Once you profit from selling the current property, you have the money and will invest it elsewhere.
#3. The third mistake is waiting for life circumstances to determine when you will sell. For example, the tenant gives notice in the Fall or Winter, not as an optional time to sell.
Why not be proactive and pick the plan to sell to optimize the price and your life, maybe now?
If you have considered selling your San Diego County home, now is the time to do it. We're in the HOT SUMMER MARKET, but that window is closing.
On average, it takes 54 days to sell a home and another 30 days for an escrow. From beginning to end, it takes 90 days. That would put any home listed today in late May to close escrow in August.
Call or text me today to discuss your home sale. George Lorimer at 619-846-1244

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