How to Maximize Your Home Sale Value in Bakersfield

How to Maximize Your Home Sale Value in Bakersfield

Expert tips for getting the most out of your home sale in Bakersfield. From pricing to staging to negotiation and everything in between!

Making a move and selling a home can be overwhelming, especially since the Bakersfield, CA real estate market is already demanding without the intricacies of wanting to buy or sell your current property. It's critical to understand how to maximize your sale home value if you're looking to get a good price for your home and get an even better deal on your next place. Fortunately, there's a way to appeal to buyers, investors, and other sellers; as a current homeowner, buyer or investor, there are a million options on how to make the best choice for your next venture. Here are expert tips on maximizing your home sale value in Bakersfield.

1- Become Familiar with the Bakersfield Real Estate Market

Understand it before buying or selling.

The Bakersfield real estate market fluctuates with interest rates, economic conditions, and overall demand. Did you know the average home in Delano, Bakersfield, sells for 10-15% less than a home in the Olive Drive area of Bakersfield even if they’re the same construction age, quality, and square footage?

Remember to review the Bakersfield Board of Realtors monthly reports for those trends. You can always follow up with neighborhood metrics online through Realtor and Zillow to become familiar before making your investment.

2. Price It to Sell

   
   

You need to know how to price your home, or it will never sell or sell in a timely fashion.

Competitive Market Analysis

While selling a house and a competitive market analysis might sound like a bad thing, it's not! A CMA will give you averages of what similar homes in your neighborhood sold for recently.

For example, if three homes sold last month in your neighborhood sold for $350,000, $360,000 and $370,000, selling yours for at least $350,000 makes sense if they’re all the same age, construction quality, and square footage.

Contact your local Bakersfield Realtor (Skyler Realty) to gauge how best to price yours competitively.

Avoid Overpricing

While pricing to sell is one thing, overpricing is something else.

A common mistake among sellers is to sell their homes for more than 10% above value because they think time on the market will allow them to make money eventually. However, studies show that homes sit for months if they’re over 10% of the cost and need to readjust months later.

You want to price reasonably based on your competition's price but also show the value of your home's best features.

3- Staging Your Home and Photography

They say first impressions matter, and in real estate, that's certainly true.

Why Staging Matters

According to the National Association of Realtors, homes that are staged sell 73% faster than homes that are not staged. Some ways you can stage your home include decluttering your personal space, positioning your furniture to create a solid flow to your home, and adding welcoming touches like fresh flowers. Even the smallest upgrades go a long way toward creating a welcoming atmosphere that buyers can easily picture themselves in.

Professional Photography

If you're selling your home, it's likely marketed online to get the most eyes possible. According to the National Association of Realtors, listings with professional photography are viewed 40% more than those without. Investing in a photographer to showcase your home's best features will be worth it!

4. Negotiation

   
   

Real estate relies heavily on negotiation.

Be Confident in Your Value

You should always be able to justify your price with facts from your comparative market analysis, including amenities that might set your home apart—like an inground pool or a massive backyard. For example, if your home is a 3-bedroom home with a pool, remind buyers that homes with pools typically sell for an additional 5-10%.

Be Willing to Compromise

While you have a bottom line at which you'd be willing to walk away from the deal, you should also remain flexible. For example, be willing to work with reasonable counteroffers—as long as they make sense. In addition, be willing to compromise on certain items—you may need to pay for closing costs to help facilitate a win-win situation for you and the buyer.

5. Mortgage Rates

   
   

Mortgage rates matter. Be Aware

Understanding prevailing mortgage rates can play a large factor in how interested potential buyers are in your home. For example, when mortgage rates shift down 0.5%, nearly 20% more buyers enter the market for home purchases each year.

Therefore, you should stay up to date with financial news. Now is not the time to bury your head in the sand when it comes to economic trends, especially where your home is concerned.

When mortgage rates fall, more buyers enter the market, contributing to demand, which can work in your favor.

6. Opportunities in the Local Market

   
   

There are many opportunities for first time buyers and investors.

Familiarize Yourself with Neighborhoods

Certain neighborhoods in Bakersfield (and surrounding areas—check out Delano and Tehachapi) have different price points and offerings. For example, Tehachapi is highly sought after due to its natural beauty; it boasts beautiful mountain views and low crime rates, making it ideal for families seeking affordable housing with good schools.

Therefore, it's critical to do your homework on neighborhoods that appeal to you now and down the line to ensure your final buy works for your lifestyle or investor goal.

Investment Possibilities

Recognizing how the local market works can reveal some unbeatable investment opportunities! For example, homes that need minor repairs but are in transitional neighborhoods are expected to grow about 30% in value within three years because they're anticipated to mature as other neighboring houses mature.

7. How Skyler Realty Can Help

   
   

Feeling overwhelmed is completely normal.

Turn to Expert Guidance

Skyler Realty can help bridge the gap between confusion and success when navigating Bakersfield real estate transactions! Our agents are experts at understanding areas relative to your needs and finding solutions!

Comprehensive Offerings

From competitive market analyses to what staging options would work best—and all negotiations in between—Skyler Realty is here to help! Contact us today for a free home consultation so we can help you get the most out of Bakersfield’s finicky market!

Final Thoughts

You've put a lot of love into your home; now it’s time to love it enough to sell it for its highest possible value!

Learn How To Get The Most Out Of Your Home Sale In Bakersfield With These Tips!

By better understanding the local area, how pricing works relative to supply vs. demand, staging efforts, photography options, effective negotiation strategies and mortgage developments on an ongoing basis, you'll be amazed at how easily you can execute your Bakersfield sale.

Skyler Realty is always here for you if you feel confused!

Contact Skyler Realty today for a free home consultation!

We've got actionable steps up our sleeves that will ensure you get the best deal when buying or selling your house in Bakersfield and surrounding areas!