Luck of the Market

4785 Songbird Avenue | @BarrosoRealEstateTeam

Real Estate
March 2022

With the spring weather and the new season comes new opportunities…especially when it comes to real estate. While the market is ever changing, there is no time like the present. Whatever your buying and selling needs may be, we have an agent that’s right for you… No luck involved.
In this edition of the Parkway Post, we are sharing a bit of our insight on the real estate transaction process. Providing tips for sellers and buyers, sharing the benefits of staging a home, highlighting market trends that our agents have noticed, emphasizing the importance of lending and getting pre-approved, and finally steps for an overall successful real estate transaction.

Sellers Steps to Closing

Before Listing:

• Schedule an appointment
• Meet with Interior Staging Consultant
• Discuss the best strategy for selling
• Formal listing presentation
• Executed sales agreement
• Property evaluation
• Complete market analysis
• Establish sales price

Listed and Active:

• Marketing campaign started
• Professional photography taken
• Signs installed
• Submitted to multiple listing service
• Showing times selected
• Property brochure delivered
• Open house scheduled

Under Contract

• Offer(s) received
• Offer(s) negotiated
• Offer accepted
• Back-up offer(s) accepted
• Inspections & disclosures completed
• Appraisal completed
• Contingencies removed
• Property closes
• Refer a friends to your Parkway agent!

1367 Woodland Avenue | @BarrosoRealEstateTeam

235 Estates Drive | @therealsufu

Staging

CREATE A POWERFUL FIRST IMPRESSION. A house, when properly staged, showcases its best features and adds a warm, inviting touch that resonates with buyers. Update your colors with what today’s buyer has in mind. Capitalize on the positive aspects of your home to define the spaces and make an emotional connection with prospective buyers. Whether vacant or occupied, make sure that your home stands out from the competition! The investment in staging is always less than a price reduction. Try staging. It Works!
The goal of staging is to make a home appealing to the highest number of potential buyers and generate the highest price in the least amount of time on the market. Staging your home creates a powerful first impression and gives you a competitive edge in the market. Staging sells homes as buyers can more easily visualize themselves in the space.

Why You Should Stage Your Home

Picture Credit: IG @DogWoodStagingAndDesignCo

Buyers Steps to Closing

• Find the right agent
• Prepare finances
• Get pre-approved
• Start home shopping
• Make and offer
• Order an inspection
• Negotiate final offer
• Appraisal Ordered
• Schedule the move
• Closing day!

Parkway Oroville | Coming Soon

Market Trends From Parkway

Trends in our local market that our team has noticed…

Inventory is staying low, but consistent and the clean/updated homes that are priced properly are still getting multiple offers and going way over asking.
-Hobie Jensen DRE#01990048
The average sales price in Chico seems to be leveling out. No crazy spikes in the last several weeks and is hovering right around $500k. Much higher than a couple years ago, but not too wild considering the low inventory.
-Stephanie Jensen DRE#01990102
I am noticing my buyers asking and looking for potential Airbnbs. The idea to have generating income from short term rentals seem to be hotter than ever. Maybe because parent weekends or prospects for the college, visit throughout the year? Maybe the increase of traveling nurses or construction workers stay and need short term housing? Either way more and more individuals are exploring growing their portfolios with Airbnbs more than ever.
-Tatjana Zina DRE#02031870
Overbidding and multiple bids on listings. With limited inventory at each price point, this is a trend that is seemingly becoming more consistent on each new listing.
-Jana Humplik-Osborn DRE#02086442

Researching Lenders and Getting Pre-Approved

Credit score and financial documents in hand, you’re ready to start researching options for your home loan.
Getting Pre-Approved is arguably the most crucial step. It is during this consultation we figure out what loan works best for you and fits your needs. Most importantly, it is our guide to what price range we can begin looking into.
We have an amazing company local to Chico who we work closely with and trust referring our clients to. If you are in need of or looking for a lender who will go above and beyond for you, please let us know.
Make sure you get that mortgage pre-approval letter — it’ll make you a more competitive buyer.

Note: Being pre-approved, unlike being pre-qualified, means you’ve actually been approved by a lender for a specific loan amount. You will need to provide documented financial information (income, statements, assets, debt & credit reports etc.) to be reviewed & verified by the lender.

8 Steps to Successful Real Estate Transactions

Photography
Market Preparation
Staging
Online Placement
Extended Market Reach
Response time
Social Media
Open Houses

1090 Sierra Vista Way | @ChicoCaRealtor

Tips for Buyers and Sellers in Today’s Competitive Market

Buyers and Sellers: Hire a professional real estate agent who knows your market and fits your style of communication.
Buyers: Be prepared. Get pre-approved and have your finances in order so you are ready to jump and make a clean, presentable offer. Listen to your gut and your agent.
Sellers: Let an agent provide you a value of your home. The online estimates, dare I say Zillow, are a great place to start, but don’t stop there. Have your agent work up a full comparative market analysis and price your home competitively. Also, don’t cut corners, you still should present your home in the best light! Finish your projects and make your home shine!
Buyers: Get all your ducks in a row before starting your house hunt and making offers. You are able to focus and be a more competitive buyer when everything is ready to go, instead of trying to rush through it all when you’re ready to make an offer.
Sellers: Stage your home! It will sell for more money and help you stand out!