2019 State Streets Home Sales & My Outlook for 2020
I am proud to have sold three State Street homes in 2019: 3202 Iowa, 3209 Michigan, and 3216 New York. These sales represent the highest 3 prices per sq. foot for the year, and 3 of the 4 highest ever in the State Streets. Looking back, I appreciate my clients' trust in my pre-marketing preparations, home pricing, and negotiation strategies for each sale. Each home received multiple offers with 10 total offers received over the three homes. I look forward to the opportunity to meet with you to show you how I can help you achieve the same with your home sale. The top sale in the neighborhood according to sales price in 2019 goes to the expanded 1722 Missouri St. at $1,049,900. Congratulations to listing agent, buyers and sellers.
Working with buyers and sellers in 2019, I had one clear take away when assessing a home’s value and appeal in the marketplace: Consistency. A home that has one glaring “need" pulls down the home's collective appeal and value. It confuses buyers and it doesn’t inspire a sense of ownership in them. As Realtors, we want a prospective buyer to imagine the home as their own with as few distractions as possible. Thanks to the influence of Marie Kondo and the de-clutter movement, 2019 was the year of organizing. Statistics show that homes that have been de-cluttered and professionally staged sell more quickly and for more money than their cluttered equivalents. Professional staging became almost a necessity in 2019, especially in vacant homes. My sellers on New York Ave. heeded my recommendations and spent over $10,000 updating their front and rear landscaping and hardscaping. We also staged the home to leave nothing lacking (there’s that consistency I spoke about), and the investment more than paid off as their home sold over list price after one weekend, for more than $20,000 than my estimate before the work. Not every seller has a budget for work up front, but there are many options to make even a small investment pay off. If you are considering selling, let’s review your home’s features (and needs, if any) and find the best way to maximize your home’s appeal and value.
In the State Streets and beyond, I worked with many owners in 2019 who decided to cash in on their equity and move out of state. Recently, I've helped clients sell in Costa Mesa and move to Texas, Oregon, and Idaho. Are you considering a move out of state? I’d love to hear where you're looking, and I have some tips and recommendations I’d be happy to share before you make the big move. Here’s one tip: consider renting out your home here for the first year to be sure you've made the right move, then sell once you're sure you’ve chosen the correct state, city, and even street. Don’t forget to factor in a new neighborhood’s proximity to transportation, health care, and shopping.
My overall prediction for 2020 is a continued steady increase in buyer demand. This demand, coupled with low interest rates (they’re back around 4% again), and low inventory, will prop up sales through 2020. Buyers waiting for a drop in prices will likely have to wait. Local economist Steven Thomas is forecasting that, “Buyers will be willing to stretch slightly in price compared to the most recent sale; so, expect appreciation around 3 to 4% for the year. Demand will be strongest, and most appreciation will occur, from March through July, and then will downshift during the Autumn and Holiday Markets”. Sellers looking to cash out during a peak in our sale cycle might be looking at that peak sometime this year? If you would like a market valuation of your home, or are considering any other Real Estate moves, call or email me anytime.
949 677 3618
This is my third time working with Matthew and his level of local real estate knowledge is unmatched! He fully understands the intricacies of each west side neighborhood that we were buying & selling in which really helped smooth out the stressful process of buying / selling a home. Matthew is thorough and very easy to work with, and I would recommend him to any friends or family that are looking for a realtor in the area".
Seller, 3209 Michigan Ave., Costa Mesa
We were so lucky to have Matthew as our agent, for both as a buyer’s and seller’s side. He is everything you dream for your agent: He is very kind, smart, thorough, attentive, responsive, and experienced. I’d recommend Matthew to anyone who wants to make the stressful process of selling/buying a real estate into a breeze. We are very grateful for his professionalism and kindness".
Seller, 3216 New York Ave., Costa Mesa