Sell in a cooling marketDo you need to sell today, in a cooling market? Many people know that in Silicon Valley, often the best time to sell your home is anywhere from January to May – and after that, the sales begin to slow and sometimes prices fall. This year, that seems to be happening, and more. We are now in early August and it’s definitely a shifting market.

How are you going to sell your home in a cooling real estate market?

Sometimes you have to sell when you don’t really want to. Maybe it’s a divorce, a job transfer, death of a spouse, loss of a job, or maybe even something good – the type of home you’ve been waiting years to buy is now available. But you have to sell first, before you can buy. For better or worse, you need to sell now, when the market is cooling.   What to do?

Understand the pattern. Jump the line.

Information is power.  Learn the market stats and figure out the trajectory. If homes are losing value at the rate of 1% a month and your house isn’t selling, you may need to JUMP the line to get ahead of the curve.  Translation: let’s say it looks like prices are going down .25% per week for a house like yours. If you “hold out” and don’t reduce your price to sell, the gap between what you think your home is worth and what capable buyers will think it is worth may widen. But instead, if you cut your price 1.5%, you may be able to be the first home sold. Wait a few more weeks, and it could be much worse.  The quick way of saying it is to “cut your losses”. In a declining market, the longer it takes to sell, the more you lose. It’s that simple.

 

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
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Mary’s other sites & blogs
Valley Of Hearts Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling

Silicon Valley Real Estate Report
Silicon Valley real estate
market trends & statistics
Mary’s Blog Awards
Top 25 real estate blogs 2016
2016: Personal Income's list of top 25 real estate blogs.


Best Realtor blog award
2016: Coastal Group OC's list of best Realtor blogs


The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

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