Morgan's Minute - A Blog on All Things El Dorado County
Featured homes, New Home Communities, Tips for Home Buyers & Sellers, "Best Of" posts on local shops, restaurants, hikes, and events. This blog has it all!
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Single Story Luxury Home with Pool just minutes from Historic Main St! Located in one of Placerville's best neighborhoods, this custom home is warm, welcoming and full of details every home owner will enjoy. Full of natural light, the great room is the hub of the home with luxury wood-look flooring, 10' ceilings, views into the private backyard, and a cozy gas fireplace for those upcoming chilly evenings. The kitchen boasts high-end SS appliances, a custom wood hood, walk-in pantry, rich wood cabinets, mesmerizing granite, and extra-long island. Even the most discerning chef will love this kitchen! Covered patio with all-day shade allows you to enjoy the private backyard year round. Sparkling salt water swimming pool is low maintenance and high fun! The Primary Suite is located in its own private wing of the home and includes a spa-like bathroom with dual vanities, spacious shower, soaking tub and 2 walk-in closets. Sizable guest bedrooms with full bathroom in between. Substantial upstairs bonus room could be a bedroom, family room, game room, or more and includes a separate mini-split heating/AC for efficiency. Laundry room / mud room has tons of cabinetry, extra-deep utility closet, and attached office or homework station. Oversized 3-car garage, tankless water heater.
Sprawling Ranch home with Pool awaits its new owner! This country property is meant to enjoy the outdoors! Over 2.5 private acres of garden, nature, and seasonal stream along with a sparkling swimming pool, plenty of shade, and two decks. Inside you'll find a spacious floor plan that makes for comfortable and easy living - 4 bedrooms and 3 large bathrooms, tons of storage, and hardwood floors throughout. Filled with natural light, the Primary Bedroom has its own wing of the home, views over the gardens, an ensuite bathroom and full-length closet. The updated kitchen includes shaker style cabinets, granite countertops, and a view of the pool. Imaginehot afternoons soaking up the sun by the poolchilly evenings cozy next to the fireplaceand ANY season enjoyed in the temperature-controlled Sunroom drinking your morning coffee and listening to the birds.Other bonuses include attached 2-car garage, RV space with hook-ups, and close proximity to Hwy 50.
4 bedrooms | 3 bathrooms | 2439 SF | 2.76 acres
$675,000
Listed with Morgan Larson with Bliss Real Estate Team
I'm asked all the time "When is the best time to buy a home?" or "Should I buy a home in this market? Or should I wait?"
Personally, I'm in the camp that buying a home is about your timing and NOT real estate market timing.
Why? Largely because it's nearly impossible to correctly time the market. Also, for 90%+ of home buyers it isn't about immediate return on investment. A home purchase is more about having a place to call home, long term financial stability, and growing your personal wealth. It isn't a get rich quick scheme!
But, friends, family and the news (especially the news!) love to share chaos, catastrophe and eye-catching headlines. We as a nation aren't that intrigued by "Everything's Going to Be OK" type headlines.
I'm here to tell you, "Everything is going to be ok."
Think about this, if you had had the opportunity to purchase a home 20, 30 or 40 years ago would you? You bet you would've! Almost all of us believe the people who purchased at that time had it easy. In actuality they were faced with exceptionally high inflation in the 70s, sky high interest rates in the 80s (umm 14% anyone?), and a large market dip in the 90s. Yet, all of those people who have held those homes (or made other endeavors post buying their first home) have done really well.
Once you are in the real estate market and own a home you can start reaping the rewards. It also gives the opportunity to refinance down the line if interest rates drop. And if rent prices raise, your mortgage payment doesn't. You become less vulnerable to the market around you. You become in the power position. This is regardless of the market you buy into.
I've met many people (and I'm one of them!) who bought at the "wrong time" and have done just fine - or even exceptional! In fact, I'm even glad we bought at the wrong time because it was the right time for us.
With that being said, how do you know if you are ready to buy a home? After all, I mentioned from the beginning that buying a home is much more about personal readiness over market timing.
The 3 Must-Have factors are...
1. You are ready to commit to a location for 5+ years. 10 is even better. This means that if you know you will be moving for work (or other reasons) in the next couple years, you likely aren't ready to be a home owner. Only owning a home for a couple years is risky. Remember, markets can shift down. Or even if you do make quite a bit of equity in 2-3 years, a lot of that would be wiped out with cost of sales. So please think long and hard about your 5-10 year life intention. Obviously things can change, but intention matters with real estate.
2. You have a down payment and closing costs saved. This one is obvious, but you'll need to save up some money to purchase a home. Reach out and I can get you started on approximate costs for down payment, closing costs, and inspection fees.
3. You have an emergency fund saved. Sadly, this is often overlooked. People are so excited about their new home that they spend everything they have and then when the water heater breaks a couple weeks later they aren't able to replace it. $h!t happens people. Be prepared. Trust me, I want you to have a home so badly! Spend the extra couple months saving an emergency fund so you are well prepared for the inevitable.
There are other factors that make you even more ready for buying a home (like paying off or paying down debts), but these are the necessities.
Circling back, buying a home is about YOU being ready to buy. It's not really about timing the market. If you have questions about getting ready or if you are ready, reach out and we'll start a conversation.
Morgan Larson - Bliss Real Estate Team powered by Keller Williams Realty
Do the Seller’s current expectations meet today’s reality?
Diving right in! Are we in Selling Season yet? A resounding YES! Both from what I’m seeing (multiple offers, homes selling quicker than a couple months ago, and open house attendance) and from the stats, I can firmly tell you we are in Full-On Selling Season.
The graph you see below shows the last 15 months of Homes For Sale (light green) VS Homes Sold (dark green) in the given month. Please note that the Homes Sold generally accepted an offer the month prior (IE An accepted offer in April is a Home Sold in May).
You’ll notice that this February had more homes sell than in January. This is the indicator that the Selling Season has begun. Home Sales rise, and also a higher percentage of homes for sale actually sell (40% of homes sold in February vs 25% of the homes in January). This means things are tougher for Buyers but easier for Sellers.
So when will it end? Though last year had some additional factors (IE mortgage interest rates rising steeply)., you can see that May of 2022 was when the most homes sold. Then from June on the number of Homes Sold began to drop. So since the Homes Sold in May likely accepted an offer in April, the main part of our selling season would be February through April. That’s when the percentage of homes selling is at it’s highest. May and June we still have plenty of home sales, but the percentage of homes sold begins to drop off, so I would consider that “Shoulder Season”. May, June and July are also when we typically see the MOST homes for sale (inventory) and thus the market becomes more negotiable for Buyers and tougher to sell for Sellers.
None of this is “bad” news. It just means that when you decide to buy or sell, you need someone to explain to you exactly what’s going on in the current market in order to make the best decisions for yourself.
Now let’s answer question 2: Do the Seller’s current expectations meet today’s reality?
If you take a peek at the graph below, you can see the Green line represents the Average Active Price (For Sale Price) and the Red line represents the Average Sold Price.
Last month the Average Active Price was the highest it’s ever been at $1,025,000. That’s an increase of 4.6% from last February. And yet, the Average Sold Price was $711,000, a decrease of 3.1% from last February. Interestingly, it appears Sellers remain very optimistic about the sales price of their homes. Thus, Seller’s expectations are not inline with reality.
Reality is we have a slow overall decrease in prices and a more negotiable market than the last couple years and in order to sell efficiently and get the top priceit makes more sense to list at a fair value not an upward trending value. By pricing fair, you have a higher chance of selling and a lower chance of Buyer’s driving a hard bargain with their negotiating tactics.
There are so many factors when it comes to deciding to Sell or Buy a home. And though many people want to Buy or Sell at the BEST time, it may be wiser t contemplate the best time FOR YOU. And then work within the parameters of the market to make great decisions on strategy. I’m always available to help you with that - just reply to this email or give me a call. 530-503-5225.
4019 Pearl Road, Pollock Pines 4 BD | 3 Full Baths | 2,373 SqFt | $565,000
Custom home with an updated cabin vibe nestled among the pines. Views and privacy abound! With a treehouse feel, the main level is flooded with natural light from the wood floors to the vaulted ceilings. Updated kitchen with stainless steel appliances and quartz counters opens to the living room and overlooks the large covered deck. Main floor Primary bedroom features outdoor access, 2 walk-in closets, tub, oversize shower stall, and dual vanity. Downstairs are 3 additional bedrooms, full bathroom and family room. Downstairs also features it's own covered deck. Upgraded features include NEW roof (2021), OWNED SOLAR (2021), steel beam construction (more insulation and no wood rot), tankless water heater, and trailer/RV/boat parking. This home is within Gold Ridge Forest HOA which includes snow plowing and use of a pool, clubhouse, tennis courts and more!
Rare find in El Dorado County! Waterfront lot with direct access to pond. Imagine morning coffee on your back deck watching the geese or Summer afternoons swimming and fishing...right out your backdoor! Gently sloped lot with a few great Oaks to provide shade and landscape.
Wonderful corner lot on a quiet cul-de-sac in convenient Diamond Springs! Spacious open concept first floor is perfect for casual living and entertaining. Fenced in backyard with large patio is private and a blank slate for your dream garden or swing set. Upstairs features an oversized Primary bedroom with large walk-in closet and ensuite bathroom. 2 generous sized spare bedrooms are great for a home office, children, or guests. Extra deep 1-car garage allows for tons of storage and the 2 car driveway is a bonus in this quiet, convenient neighborhood!
Dreaming of a home near a river? One of the best homes on one of the largest lots is available in the lovely community of Outingdale with EXCLUSIVE access to the Cosumnes River. Imagine taking a 2 minute stroll and being at a private beach with multiple swimming holes! Featuring cathedral ceilings, open concept layout, extra deep garage, 2 decks for BBQs and lounging, brand new exterior paint, wood burning stove, and TONS of storage! Kitchen has high quality Kraftmaid cabinets, 2 pantry closets, long peninsula AND island. The Primary Suite has it's own private deck, ensuite bathroom with jetted tub, and oversize walk-in closet. Under the home is an unfinished basement area perfect for a TV/Game room, extra guest sleeping area, or home office. Short drives to Fair Play and Plymouth wine countries, Placerville, Sutter Creek and more! This home is perfect to make everyday feel like a vacation!
I mean, the goal is to get the very best price you can. And the more showings you have the more offers you get.
So here’s how to get your UNFAIR share of attention on your home when it’s listed:
☝️ Focus on the Lifestyle: The description and pictures need to tell a story of WHY someone wants to live in that house. After all, people don’t just buy a home because it has 3 beds, 2 baths and 2,000sf…they buy because they feel emotionally attached! So highlight the best features with staging, description, photos and videos done in an intentional & strategical way.
✌️Apply the Magic of Staging: Have you ever been in a model home? Well, let’s just say I’ve never been in one that didn’t make me wanna live there! There is so much power in having a home professionally staged. A Pro knows how to tell a story through furniture and decor…the story always being a welcoming home that almost anyone can imagine themselves living in. Make sure you have THAT magic!
🤟 Price It Right: Even if your marketing is ON POINT, if your pricing is off your home will get ignored. A strategic list price is 90% of the game - so make sure yours lands you with MORE buyers looking, and not less. I mean, you do want them fighting over the home, right? 😉
Wanna work with someone who understands these strategies and more?? Send me a DM and we can get the conversation started 💙
If you’ve been paying attention, you probably noticed that this is the second time in the last 30 days I’ve had New Homes as the topic. Why? Because with precious little resale inventory for our home buyers to purchase I want to make sure you know there is another option.
We have LOTS of new home subdivisions throughout El Dorado County and the Sacramento Valley Region, and though you will usually need to wait 4-12 months to move into your new home, you won’t have the same complications other home buyers are having getting their offers accepted. So it may seem like more time, but it's actually about the same amount of time. Even better, your equity is growing while you wait for it to be finished. Cool trick, right?
Want to know more? Watch the video and then contact me so we can start working on getting you into your Brand New Home.
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