The city of Cupertino, California has seen a 8.3% increase in home prices over the past year according to the Zillow real estate website. This puts the average price of a Cupertino home at just over $1.9M. Prices are beginning to settle down and the economists at Zillow expect that prices next year will only increase a modest 2.7%. This calm in the market should allow buyers who have been dealing with competitive bidding situations a chance at getting into a home.
Home prices in Cupertino have skyrocketed over the past six years. In 2012 prices were around $900k. The market is generally considered healthy with a little more than 1% of home owners sitting on property with negative equity.
Of course, making smart home improvement/remodeling choices is one of the best ways to increase your home equity. Make bad choices and you will actually decrease your equity. By investing more in a project that you are likely to be able to recoup when you sell, you are losing money/equity in your home. Working with a real estate expert in Cupertino is the best way to make these decisions. A local realtor will be able to advise you on where you money will be well spent and where it will be wasted.
One amazing statistic we discovered while reviewing the data on Zillow is that currently 0% of home owners in Cupertino are in default.
Homes in Cupertino are usually remodeled before they’re marketed and sold by a local real estate agent. Home owners who want to maximize the resale value of their house will take the time to educate themselves on the latest design trends in order to appeal to the most buyers. One of the hottest trends currently is the use of reclaimed material, in particular lumber. It’s difficult to replicate the look and feel of old wood that has stood the test of time, punished by the elements to create a beautiful patina. Some companies try using new lumber and using a variety of technique they will try to age the wood to look the real thing. The result typically looks cheap and tacky.
There is no substitute for using a reclaimed beam for your fireplace mantel, paneling, kitchen cabinets, shelving or even your hardwood floors. Open any design magazine and you will see the uses for reclaimed lumber are endless. There is a company called Reusable Lumber Company (http://www.reusablelumber.com/) that specializes in recovery, resale and reuse of old growth lumber located in Woodside, California. Another option is Global Wood Source (https://www.globalwoodsource.com/). They bring in wood from all over the world including may exotic woods that are hard to find. Lastly, there is a company based in Minneapolis, MN that ships across the country called The Old Grain Co, (https://getreclaimed.com/).
We suggest that home owners discuss their ideas with their realtor if they are hoping to increase the resale value of their house. Your agent will help you to budget for the project and should be able to connect you with local contractors who can handle the design and installation for your project. If your realtor doesn’t have any contractors who specialize in working with reclaimed lumber, contact any of the companies referenced in the post. They will likely have a number of installers they can suggest for your project.
#1- When possible it is always best to take pictures of the house during the spring. These pictures will have more color and make the house and yard look more appealing to potential buyers. Since the most succesfull marketing is done online, quality pictures will play a big role in brining buyers through your house. They don’t want to see brown grass and shrubs when they are looking for a home. If you have some personal home pictures that you have taken, feel free to share these with your San Jose or Cupertino area real estate agent to use for the listing.
#2 – Don’t decorate your house with religious decorations that may turn off buyers who are not the same religion that you are. You can make the house look seasonal and well decorated by including holiday decorations such as greenery, flowers, pillows, blankets, candles, etc. This will give the house the ambience home buyers are looking for and will set your house apart from the competition.
#3 There isn’t as much light during the winter, so you might want to add extra lamps or use higher wattage bulbs to make sure that your house is nice and bright.
#4 Make the house look festive and fun as potential buyers approach with garlands or boughs and containers of greenery. You can even place fresh greens in pots near the front door to welcome bueyer to your home.
#5 – Don’t get discouraged if your house doesn’t sell right away. It is typical for homes to sit on the market longer during this time of year. One potential benefit is that there are fewer homes on the market for your house to compete with
#6 Know the local football schedules and other big sports schedules. In many real estate markets around the Bay Area, having an Open House during a “big game” is asking for a slow open house. Be flexible with timelines and ask your agent to open early or stay open late to avoid competing with a popular local game.
#7 – People like to party and hang out with friends during the winter. So stage your house in a way that buyers can envision entertaining their friends in the house. You can set out dieshes, flowers or even cake stands with holiday cookies or other treats. Another benefit of setting out baked goods is that you will add nice smells to the house which is very welcoming to buyers.
Keep our suggestions in mind if you are thinking about trying to sell your house this winter season. By spending a small amount of money to get your hosue ready to sell, you will appeal to more buyer and you will be more likely to sell your house. Your real estate agent will also be able to make additional suggestions on getting your house ready to sell. Some of the local real estate agents in Cupertino are doing a great job of preparing their clients homes for sale. Check out some of the Cupertino homes for sale.
Here are a few staging tips to get your house ready to sell from Realtor.com. They have tons of great resources for home sellers.