lake county real estate. and then some…

selling homes…a family tradition


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Looking to get the best price for your home, at this time of the year? Here are two tips for success…

Selling Your Home? Here’s 2 Ways to Get the Best Price!

Selling Your Home? Here’s 2 Ways to Get the Best Price! | MyKCM

Every homeowner wants to make sure that they maximize their financial reward when selling their home, but how do you guarantee that you receive the maximum value for your house?

Here are two ways to ensure that you get the highest price possible.

1. Price it a Little Low

This may seem counterintuitive, but let’s take a look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation when, in actuality, it just dramatically lessens the demand for their houses (see chart below).

Selling Your Home? Here’s 2 Ways to Get the Best Price! | MyKCM

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so that demand for the home is maximized. By doing so, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive as the seller may think that he or she will make more money by avoiding a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by real estate professionals.

study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs, when compared to MLS sales of similar properties, is about 5.5%. Sales in 2017 suggest the average sales price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.


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Not sure if you should sell NOW? Here are some things to consider…

4 Reasons to Sell This Fall [INFOGRAPHIC]

4 Reasons to Sell This Fall [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Housing inventory is still under the 6-month supply that is needed for a normal housing market.
  • Buyers are often competing with one another for the listings that are available.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.


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Wow! It was a big hole to climb out of, but the housing market has made remarkable strides in over the past 5 years…

Home Prices: The Difference 5 Years Makes

Home Prices: The Difference 5 Years Makes | MyKCM

CoreLogic recently released their Home Price Index ReportOne of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared.

The graph below was created to show the 5-year change in price from July 2013 to July 2018 by price range.

Home Prices: The Difference 5 Years Makes | MyKCM

As you can see in the graph, the highest price appreciation occurred in the lowest price range with 48% growth, while the highest priced homes appreciated by 25%. This has been greatly fueled by the lack of inventory of homes available at the lower price ranges and high demand from first-time buyers looking to enter the market.

Where were prices expected to go?

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

According to the Q3 2014 survey results, national homes prices were projected to increase cumulatively by 19.5% by December 2018. The bulls of the group predicted home prices to rise by 27.8%, while the more cautious bears predicted an appreciation of 11.2%.

Where are prices headed in the next 5 years?

Data from the most recent HPES shows that home prices are expected to increase by 20.0% over the next 5 years. The bulls of the group predict home prices to rise by 31.2%, while the more cautious bears predict an appreciation of 9.3%.

Bottom Line

Every day, thousands of homeowners regain positive equity in their homes. Some homeowners are now experiencing values even greater than those before the Great Recession. If you’re wondering if you have enough equity to sell your house and move on to your dream home, let’s get together to discuss conditions in our neighborhood!


Leave a comment

Not sure if you should sell NOW? Here are some things to consider…

4 Reasons to Sell This Fall [INFOGRAPHIC]

4 Reasons to Sell This Fall [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Housing inventory is still under the 6-month supply that is needed for a normal housing market.
  • Buyers are often competing with one another for the listings that are available.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.