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Trizia Magagnini

REALTOR®
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Intero Real Estate
5960 Stoneridge Dr
Suite 101
Pleasanton, CA 94588

Real Estate Perspectives in 2020

This new decade began with a real estate market that was overwhelmed by buyer demand and underwhelmed by new listings. The economic forecast was sunny and bright. Then the dark cloud of COVID-19 cast its gloomy shadow across America, resulting in a stock market crash, a skyrocketing number of layoffs and urgent orders to stay at home. The nationwide financial crisis resulted in the already serious housing shortage becoming even more severe, reports the National Association of Realtors®.

As our country begins to rebound, prospects for the future are getting brighter. We've learned to get by with the help of video conferencing, paperless transactions, food delivery services, and social distancing. The real estate market is ready to pick up where it left off thanks to low interest rates and the growing need for more starter homes, move-up properties and retirement condos.

For specific information about our local market, let's talk soon about your housing needs.

Also in this issue...
Prepare Your Home Now to Sell Later
Builders Report the Most Popular Home Features
What's on the Horizon for Buyers and Sellers?

 

Prepare Your Home Now to Sell Later

While working from home, take some time to work on your home too. A little upfront effort ensures your home will be "listing ready" as soon as the timing is right for you.

  • Potential buyers expect to see tidy landscaping, so make sure bushes and trees are trimmed up, and replace mulch if appropriate. Perhaps a "weed and feed" treatment or new sod is needed for your yard. Consider planting small, ornamental trees that don't require years to mature, and rent a power washer to help your deck and fence look like new.
  • Install solar lighting along walkways to increase safety and add an attractive element to your landscaping.
  • You can also increase your home's curb appeal by adding shutters or painting your front door a contrasting color.
  • Inside your home, tackle projects one room at a time. First, repaint bold walls with light neutrals. This will help buyers be able to picture themselves in their new home. Next, take inventory of the rest of the room: Does the carpet need cleaning? Do the baseboards or window trim need touching up? Are new blinds or ceiling fans needed?
  • To refresh a bathroom, consider replacing the mirror and light fixture for an instant transformation. In the kitchen, a new backsplash is a great update. Changing out cabinet hardware can also make a difference.
  • Replace any items that you plan to take with you, such as chandeliers, attached mirrors or window treatments. Lastly, consider adding shelving and organizational units to the garage or basement to make those spaces more attractive to buyers.

If you're not sure how to spend your time and money, let's schedule a video chat. Together, we'll tour your home and prioritize the most important updates. If you're not a DIYer, we can also discuss trusted service providers to help you with projects of all sizes.

Builders Report the Most Popular Home Features

Although COVID-19 has led to self-quarantines, prospective home buyers are still eager to make their move this summer. Here are some of the features most desired in newly constructed homes, according to data compiled by the National Association of Home Builders (NAHB).

A walk-in closet in the master bedroom is the top priority for the majority of this year's home buyers. Energy efficiency is also highly anticipated in new construction of single-family homes. Buyers are most interested in programmable thermostats and energy-saving lighting, as well as ENERGY STAR-certified appliances, windows, and heating and cooling units.

At the top of home buyers' wishlists for the kitchen are features such as a central island, walk-in pantry and granite countertops. Having a laundry room as opposed to washer-dryer hookups in an alcove, basement or closet is also preferred.

What's on the Horizon for Buyers and Sellers?

Some prospective buyers may think they have the advantage over sellers due to the possibility of people putting their home-buying dreams on hold until later in the year.

However, the competition might be even tougher for buyers because some sellers have temporarily taken their properties off the market. Sellers may be just as wary of letting strangers tour the inside of their home as buyers are about viewing the inside of a stranger's house.

The truth is real estate agents are putting preventive procedures in place for the protection of their buyers and sellers alike. According to Inman.com, virtual tours are becoming immensely popular, followed up with in-person showings (oftentimes restricted to 20 minutes or less) for serious buyers. Gloves, masks, booties, hand sanitizer, and disinfecting wipes are provided by the agents for everyone's peace of mind.

 

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