March Home Sales Quicken The Pace - Why Now May Be A Great Time To Make A Move!

 Last year at this time, home sales throughout the Greater Sacramento region started off on a red-hot pace that never eased up until year-end. That extraordinary market momentum ultimately produced record-setting sales figures and price appreciation in spite of conservative mortgage loan programs and financing guidelines.

“This year could very well be off to the same start,” says Pat Shea, President and CEO of Lyon Real Estate.

Specifically, 5,345 homes closed escrow in the first quarter, which was only 4 percent fewer than in 2021. New open escrows for the quarter fell within 2 percent of last year’s reported numbers. Despite news of persistent buyer demand, year-to-date new listings entering the market are still somewhat subdued and tracking 3 percent lower than 2021. These combined sales metrics have once again left a paltry 15 days of inventory currently available on the open market.

The average sales price for homes that closed in the first quarter rested at $661,000. This metric was up more than 16 percent year over year and naturally, set another market high. Sellers received approximately 102 percent of original list price and were on the market an average of only 20 days.

“These numbers are extreme for Greater Sacramento and are due to the endless number of buyers ready, willing and able to compete in an environment where multiple offers remain pervasive,” says Shea.

“The vital signs for continued market momentum are clear and undeniable if you look at March alone,” adds Shea. “Closed sales were up 28 percent and new open escrows up 32 percent for the month when compared to February. New listings entering the market however, jumped only 16 percent, and there lies the challenge.”

Shea offers that: “Most market analysts expect that home sales will remain very strong this year throughout Greater Sacramento with typical seasonality likely to surface again at year-end. Many prospective sellers have been reluctant to take action until they find a way to purchase prior to listing their home.  A reputable real estate professional can present both equity bridge solutions and financing bridge solutions to help solve that problem. It would be a very good path to explore before rates climb too much higher."

"My team is ready to assist both buyers and sellers navigate through this current market!"                        Rob Baxley- 916-208-3896 - Rob@RobBaxley.com - RobBaxley.com

Renovate Now, Pay When You Sell: Lyon Home Improvement Concierge

 There’s a lot that goes into selling a home, but Lyon Real Estate and your agent Rob Baxley wants to make the process a bit easier for homeowners. A new service helps sellers get their home in move-in ready condition before it hits the market.

The Lyon Home Improvement Concierge is a service for sellers that fronts the costs for all repairs, renovations and staging. Whether it’s a coat of fresh paint, new flooring or a full kitchen remodel, it allows sellers to defer the costs of the project until their home sells, transforming their home into move-in ready condition buyers want, thus maximizing value.

The Lyon Home Improvement Concierge combines pre-sale expertise and local market knowledge to determine which renovations will maximize the home’s value. Best of all, a project manager will oversee the work from beginning to end, thus eliminating some of the stress for sellers.

“Buyers want move-in-ready homes and are willing to pay more for them,” says Pat Shea, President and CEO of Lyon Real Estate. “We are launching this service so that our clients feel at ease from start to finish throughout the listing process and maximize their value when they sell.”

 

An easy-to-use app updates agents and homeowners 24/7 with photos, schedules, and messages from beginning to end. An expert team of design professionals continually curates a catalog of the most popular and current home improvement materials, from flooring and cabinetry to appliances and lighting fixtures, all made of high-quality materials that home buyers love.

Some competitor programs provide interest-free loans, but agents and sellers have to do all the work to get the home prepped. This turnkey program, powered by pre-listing home improvement company Curbio, gets your home in market condition with a hassle-free process. These renovations attract more buyers, reduce the number of days on the market, and increase seller proceeds.

Features of the Lyon Home Improvement Concierge include the following:

• A project manager who oversees the entire renovation, so owners don’t need to make design choices or do the work themselves.
• Deferral of 100 percent of all project costs — no upfront deposits, no loans, no progress payments, no fees, no interest charges and no credit checks.
• An easy-to-use app that gives agents and homeowners full visibility into their project 24/7, including photos, timelines, and messages.
• A wide variety of designer-curated style options from which to choose.
• No minimums or maximums.
• A project budget that can equal up to 80 percent of sellers’ net equity, which is the list price after renovations, less money owed.

Contact Rob to find out more about this new program!   916-208-3896 or email: Rob@RobBaxley.com