Grass Valley, CA Real Estate Video Blog with Kurt Congdon

What Do Recent Trends Say About Our Market?

There are many great Grass Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (530) 273-0073 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we answer the question: What's the state of the market here in Nevada County?

First, let's take a look at the numbers:

Sales are down 17%
Prices are up 9%
Distressed home sales have fallen significantly
An appreciation rate of about 6% is expected for 2015

What does all of this mean for you? Well, if you're looking to sell your home in the next year or so, you'll be doing business in an incredibly healthy market. The fact that sales have fallen is, in a sense, a good thing; it's indicative of a drop off in distressed property sales, which means our market is returning to normalcy.

Since homes are appreciating at a more sustainable rate than they were in 2013, first-time home buyers will have more opportunities to find an affordable home down the road. If you're looking to sell, people are still getting high values for their homes, so now is a great time to put your home on the market.

If you have any questions about market conditions in your area, or have a topic you would like us to address in a later video, feel free to call or email us at any time. We hope to talk to you soon!

The Fall Selling Season Is as Strong as Any

It is commonly thought that the Spring and Summer months are the best time to sell your home. While this is true to an extent, people often write the Fall off as a bad time to sell. This simply isn't true. In fact, the Fall may be the best time to sell your home in Nevada County.

All you need to do is look at the numbers. In May, June, and July of last year, 380 homes were sold; in September, October, and November, 340 were sold. It's pretty incredible that only 40 fewer homes were sold in the later months, especially when you consider the fact that there are a lot fewer homes on the market during that time.

The Fall is an ideal time to sell because there is less competition in the market. Sellers often buy the myth that they will get a better return in the Spring and Summer months. Because of this, perhaps as much as 25% of homes for sale in September will be taken off the market by the end of the month. Looking at the numbers, October may be the single best month to sell a home in our area!

If you have any questions about market conditions in your area, or are interested in buying or selling a home, don't hesitate to reach out to us. We would love to help you in any way possible!

Why Are Online Home Evaluations so Inaccurate?

Almost everyone uses online home evaluations when they want to know how much their home is worth. You should use these sites with caution - in rural areas like Nevada County, Zillow's algorithm can be extremely inaccurate. We have two real world examples to demonstrate this:

Two homes are built in the same year, by the same builder, and in the same area. One spends $150,000 on renovations while the other does nothing -- it hasn't been upgraded since it was built. Does Zillow have a way to account for the differences in value? It does not - "Zestimates" are based on the sales values of similar homes. So, if the untouched home sells first, it is likely the estimate of the refurbished one will be hundreds of thousands of dollars too low.
It is not uncommon for a home in escrow, which had received multiple offers, to have a "Zestimate" $75,000 less than we have it under contract for. For instance, a home with panoramic views and a flat lot may be valued at the same price as a nearby home located on a steep hill with no view and no usable land. Again, if one of these homes sells, the other's value will be based on the previous home sale.

As you can see, Zillow and other online home evaluation sites fail to take important factors into account when determining value. To avoid misleading information, it is best to work with a trusted real estate professional. We have access to the relevant data so we can give you an accurate estimate. Want to know how much your home is worth? Give us a call or shoot us an email for the service you deserve.

Nevada County Real Estate Market Update for Summer 2014

We have made it to the midpoint of the year in 2014, making now a perfect time for another market update. Here are some important numbers to pay attention to:

In the first 6 months of 2014, the average sales price has increased 5.5% to $325,000. This is equal to the average sales price from before the crash in 2008. We are still well off the all-time high in terms of average. It's unlikely we will see an average sales price of $474,000 again, at least in this particular market appreciation cycle.
Sales remain strong with a virtually identical number of sales in 2014 as compared to 2013.
Overall, the market is strong. Appreciation rates are at a healthy and sustainable level, and interest rates are quite low.

If you have any questions about the market, or if you are interested in getting a free valuation for your home, please give us a call. We would be more than happy to assist you with whatever you need.

6 common pitfalls for home sellers

Everyone’s main objective when putting their home on the market is to sell it as quickly as possible and for the highest possible amount. It doesn’t always work out this way because homeowners make simple mistakes that hinder their home’s market value. I want to share with you today a list that I have come up with of 6 common home selling mistakes that sellers make. All of these mistakes are totally avoidable and fixing them could be the key to your home selling quickly.

1. Overpricing

Trying to maximize the profits on your home sale is not always the answer. There is a very fine line between what is determined as overpricing for your home’s listing and what is deemed a fair price. Overpricing can take a home and immediately ruin its chances of being sold.

2. Inability to Show the Home

It is of utmost importance to make your home as accessible as possible to both your agent and prospective buyers. Each showing of your house greatly increases the chances of your home being sold.

3. Decluttering and Depersonalizing

Organizing your house into a neutral setting is also key for getting prospective buyers interested. It is important for the prospective buyer to see themselves living in the home and can visualize adding their own flair to the living space.

4. Unpleasant Odors

Each home has its own distinct scent. If you have been living in your home for more than a few months, you probably don’t smell it, but others do. Having a pleasant, inviting aroma in your home will make potential buyers more comfortable in any setting and put them in a better mood.

5. Negotiability

You most likely will not be selling your home for your initial asking price. Buyers want to feel like they got a deal on a home, so the ability to negotiate a price comes into play.

6.Unwillingness to Make Repairs

While it is not expected of you to make every single thing in your house perfect, fixing things like plumbing leaks, electrical hazards, and broken windows will put potential buyers more at ease with purchasing your home.

If you would like to learn about some more common mistakes, or are in the market for buying or selling a home in Nevada County, please contact me at kurt@kurtcongdon.com or at (530) 273-0073.

Beautiful Craftsman Estate Available in Nevada City

Beautiful Craftsman Estate Available in Nevada City
If you're looking to find a great home at a fabulous price, then look no further. This home is Craftsman-style built in 2000 with 3 bedrooms and 4 bathrooms, and has over 3,700 sq. feet. It is also situated on a 7-acre lot. Every aspect of its build was highly considered and it is an absolutely gorgeous home. This property features high ceilings, heated wood floors, and lots of natural light. There is a large fireplace with a spot to store extra wood, and this makes the living room all the more inviting and cozy.

The kitchen features cherry cabinets and a large granite island to accommodate all of your cooking and entertaining needs. There is also a cozy breakfast nook attached to the kitchen that makes the perfect place for a family meal or a romantic dinner.

The sublime master suite, with a private seating area, leads into the resort-style bathroom. The bathroom features marble flooring and a marble double vanity, and there is also a steam shower and soaker tub under a moon window looking into a private garden.

The upstairs family room and office lead into a guest bedroom with a pullout bed for added storage.

The beautifully manicured 7-acre lot showcases ponds, multiple patios, and outdoor lighting. There is also an oversized 3-car garage that houses a workshop with a bathroom that could easily be converted into a guest room.

This home is nestled into the Sierra Nevada Mountains and will delight any buyer looking for a beautiful home in a pristine natural setting.

If you are interested in this property or other Nevada City properties, then please do not hesitate to contact me. I am always willing to sit down with you and discuss your needs.

It's a Great Time to Sell in Nevada City, Grass Valley, and Penn Valley

Spring 2014 Real Estate Market Update for Nevada County

I'm going to take this opportunity to give you an update for the 1st quarter of 2014. I'll be focusing my review on Nevada City, Grass Valley, and Penn Valley.

There were 248 sales in the first quarter compared to 285 sales in the first quarter of 2013, so sales are down.

The silver lining here is that the average sales price has risen.
Average sales price for this quarter is $345,000, which is a 12% increase from last year.

We have an inventory of 455 homes, and an additional 146 homes in Escrow today.

Bottom line is that inventory is very low, and is sitting right around 2.5 months' worth of homes.

If you're thinking of selling, there absolutely could not be a better time to do so.

With inventory so low, you will sell fast and for top dollar.
If you're unsure about selling, you'll probably be surprised at how much your home is worth, so contact me or utilize our free home value tool.

If you would like to sell, I would urge you to contact me and we can plan some ways to maximize the value of your home, as well as come up with a road map for getting it sold in a timely fashion.

Feel free to call me at (530) 273-0073 or email me at kurt@kurtcongdon.com

11 Expert Real Estate Predictions that Point to a Fantastic 2014

This past weekend I went to a real estate retreat where the top real estate expert in North America shared with me some things he expected to see in 2014. In total, he gave me eleven points in his forecast and I'm going to share them with you now:

Home prices will continue to rise, bringing a certain amount of normalcy back into the market.
Interest rates will remain low, so buyers will see both great prices and great rates.
Inventory will also remain low, which will bring better prices because of increased demand.
New Home starts will go up 15-20% in the United States.
The real estate market will stabilize for the first time in 6-7 years as supply & demand balance out.
Realistic pricing will generate multiple offers on appropriately priced properties.
This new-found confidence in real estate will motivate buyers and sellers.
Home sales are expected to rise by 3-5% throughout the nation.
New Lending Policies will be put in place to help prevent the relapse seen in 2006.
Homeowners will continue to build equity.
Fewer 'under water' properties will translate to more equity for homeowners. This will create a move-up and a move-down market.

There you have it. The eleven expert predictions for real estate in North America for 2014. The great thing about all of these predictions is that they're all good news!

Contact me if you're ready to take advantage of the best market that we've seen in eight years. I can be reached at (530) 273-0073 or you can reach me by email at kurt@kurtcongdon.com

How Will the Trends of 2013 Affect You in the New Year?

Happy New Year! It's 2014: are you wondering where the real estate market is headed? Where will interest rates go? Will the average housing price change? Before we launch head first into a forecast of the future, let's take a look back at 2013, and see how those trends will affect us going forward.

As you may know, we had historically low inventory numbers in 2013, and this led to a big 24% rise in appreciation. Nevada County also had 1,500 sales which is comparable to our peak in 2006. So what does this have to do with 2014? There are buyers on the market now and we have low inventory. In fact, right now inventory is at 363 homes. Take advantage of a seller’s market and sell now. There may be more buyers in the spring, but the buyers looking right now have a lot less options. And less competition will give you a higher return.

If you or anyone you know is thinking about selling, give me call at 530.273.0073 or send me an email at kurt@kurtcongdon.com Let’s talk about what your home is worth and how we can get it on the market now!

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Why work with us?

Kurt Congdon and his team are focused on providing you with the best results and service in the industry. They not only listen carefully to understand your real estate goals, they work hard to create solutions that make sense for you. Whether you are new to the market or an experienced investor, we have the expertise and resources to help you achieve your real estate goals.

Real estate is all about location, location, location. We have extensive knowledge of the Grass Valley, CA area and can help you find the right home for you or the right buyer for your home.

Kurt Congdon
Coldwell Banker
855 Sutton Way
Grass Valley, CA 95945
Toll Free: 800-471-4570
Office: 530-273-0073
Fax: 530-274-3300
Kurt@KurtCongdon.com

What our happy Grass Valley clients have to say

"Kurt is very professional and took such good care of us both in listing our home and helping me find our new home. He always kept me advised in the different stages of the selling/buying procedures. I would not hesitate to refer someone to him."

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"I have known Kurt for approximately 14 years and have purchased four homes and sold three through Kurt. He is the best. He is extremely thorough in his business dealings and you never need worry that you are getting the best deal possible.either in the sale or the purchase of a home. Prior to coming to Grass Valley I have lived in numerous Cities across the U.S totaling some 20 homes in my life. I would rate Kurt at the top of those Real Estate folks that I have dealt with."

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