James Bobbett

James Bobbett

Using the most extensive and industry-leading marketing tools, James makes sure each client’s home receives maximum exposure.

Fullerton Realtor explains 'range pricing' benefits, disadvantages

If you’ve toured any open houses lately, perhaps you’ve noticed some of the houses for sale list a price range as opposed to a firm number. This is a fairly common practice in the North Orange County real estate market.

Sometimes Realtors and real estate agents will “range” their listings by as much as $100,000 depending on the property’s price point.

Here at Redux Realtors we’ve found that for home sellers there are many advantages to range pricing, particularly when a home’s value falls in the high $500,000 to low $600,000 range. Primarily, range listing ensures your property will receive more online exposure than it would if the property was listed at a firm number.

For example, let’s say we had a listing with a price point around $629,000. If someone were to do an online search for real estate and set a filter for properties up to $600,000, then our listing firmly priced at $629,000 would not appear in the search results. On the other hand, if we give that listing a price range of $599,000 to $629,000, the property will appear in that real estate search for homes up to $600,000.

Increased web exposure for your property is not the only advantage a range pricing strategy offers. This pricing strategy often helps home sellers feel more comfortable with the process of assessing their home’s value and placing it on the market. The higher end of the range might represent what the seller hopes to sell for while the lower end of the range might be more in line with fair market value.

Listing a home at a price range also opens a door for home sellers to receive multiple offers at varying price points, which brings us to one possible disadvantage to the range pricing strategy. Some potential homebuyers might see the price range and attempt to low ball their offer.

While we certainly wouldn’t discourage any would-be buyer from submitting an offer, even if it’s on the lower end of the price range, we always tell homebuyers that if the market demands a higher price, this fact will come to light and they may lose out on a prime property by not submitting a more competitive offer. A seller may also choose to counter a homebuyer’s low ball offer to a higher number.

We used a range pricing strategy in our latest Realtor Redux project in Fullerton, with fantastic results. Market comparables indicated to us that the home was worth about $700,000, but our sellers felt the home might have been worth a bit more. We chose to list the house for a price range of $699,000 to $719,000 and within days the house was sold at $705,000. The sellers felt they received a fair price, and we squeezed out more proceeds from the sale. A win-win!

Range pricing is a relatively common practice in North Orange County and can be an effective strategy for maximizing your return from a home sale. We’ve found that range pricing increases online exposure for each property we list. Home sellers feel comfortable with range pricing because it helps to reconcile what one might hope to get from a home sale versus what might be considered fair market value, and it opens a door to multiple offers. While some potential homebuyers might submit low-ball offers, ultimately the market will dictate the appropriate sale price.

At Redux Realtors we’ve helped countless homeowners prep their homes for the market and list them using effective marketing strategies like range pricing. Feel free to contact us if you’re interested in learning how we can help you sell your home for top dollar.

Realtor Redux: An amenity-rich home needs a little freshening up

Realtor Redux: An amenity-rich home needs a little freshening up

Our job as Redux Realtors is to make every home we sell look extraordinary. We offer our home sellers advice on how to make their homes show their best to prospective buyers.

In our latest Realtor Redux project, we are working with a long time homeowner who now wants to move to the beach to be closer to family. Having lived in the home for 38 years, the move will be exciting but bittersweet.

We want to help this owner freshen up the home by giving it a more modern feeling. We will be working with of a budget of around $3,000 and must choose wisely on which features to update to ensure costs don’t grow too high while achieving maximum impact.

The home sits on a cul-de-sac in an HOA community that features a swimming pool, greenbelts and nearby walking trails. With award-winning schools also in near proximity, this property offers lots in terms of amenities.

Situated on an elevated lot, the new owners will enjoy peek-a-boo views of trees and city lights. Inside the house boasts impressive vaulted ceilings.

But the carpeting is worn and in need of replacement. The wall paper makes the interior look a bit tired. These will be the main areas we focus on in this Realtor Redux project.

As-is we estimate the house could list at no more than $680,000. But with a budget of less than $3,000 and our few choice improvements, we expect to be able to list this home for $699,000. If all goes according to budget the up-front investment will return an extra $16,000 on the sale.

Check back soon for an update on our progress!

Home staging, real estate photography effective marketing tools for homeowners

Home staging, real estate photography effective marketing tools for homeowners

Selling a home in Orange County, or anywhere, you probably have a primary goal in mind. Sell the home for as much as you can in as little time possible.

Professional home staging and strong photography are two real estate marketing strategies that can help you achieve this goal.

Homeowners can go one of several routes in selling their home. For example, they can hire a real estate agent to guide them through the process. Or they can hire someone like Redux Realtors who does all that AND can advise on home staging, design and marketing.

Home staging expertise

Homes that are full of clutter or personal effects don’t show very well to prospective homebuyers. Neither do … let’s say “unique” color palettes or interior design styles.

The Los Angeles Times recently had a story about a high-end home in Beverly Hills that sat on the market for months. Finally, the homeowner brought in an expert who removed the clutter and personal effects, repainted in neutral colors and added some modern furnishings to complement the funkier pieces. The house went on to sell for $300,000 above list price, or $5.5 million.

Home staging is more than just arranging furniture. It requires an attention to detail and fashionable taste. And let’s face it, not everyone who’s selling their house possesses these two qualities. Even for those who do have a knack for home design, it still takes a lot of time. And time is a luxury for most people in Orange County.

That’s where someone like Redux Realtors comes in. We take average homes and make them extraordinary. By advising on things like color palette, the selection and arrangement of furniture as well as landscaping and curb appeal, we’ve helped dozens of clients sell their homes faster and often times for more money.

Strong real estate photography

In a separate article the Los Angeles Times wrote about a real estate photography study that Redfin did a few years back. Did you know a house priced in the $400,000 to $499,999 can fetch as much as $11,200 more just because the pictures included in the online listing are professionally done?

A beautifully decorated and landscaped home may show great in person, but keep in mind an increasing number of people search for homes online before they ever tour them in person. And when they see a listing with great pictures online, they get excited to tour the house because it looks really cool.

That opens them up more to the prospect of buying the home, especially if the person feels the house has all the right features.

We have relationships with excellent real estate photographers who capture your home in the best possible light. The right lighting and composition really makes a photo pop and make a strong first impression on a would-be homebuyer.

Realtor Redux: New carpets and interior paint create amazing transformation back at the California ranch house

One of the advantages of choosing Redux Realtors when it’s time to sell your Orange County house or condo is that we maintain our own growing collection of on-trend furniture and accessories that we’re able to use to stage your home at no extra cost – it’s included in our listing fee.

We encourage homeowners to take advantage of our literal warehouse of resources because studies show homes sell faster and often times for more money when they are professionally staged and marketed. We expect our latest Realtor Redux will be no exception.

We’ve returned to our California ranch home in Fullerton, which underwent a Realtor Redux before we brought the house to market earlier this week. The homeowner is a long-time resident who plans to move out of state to be closer to family, and we wanted to help make that move as easy as possible.

The house itself is in fabulous shape, and it’s also in a great location in North Orange County with distinguished schools and plenty of quality restaurants nearby. It has hardwood floors in its galley kitchen, which includes a breakfast nook, and it has a spacious covered patio and lots of yard. The house sits on a lot that’s more than 8,000 square feet.

With four bedrooms, one bathroom and two three-quarter bathrooms, this house could be the ideal home for a young family. We felt the house had a few aesthetic issues, though, that might cause pause with today’s homebuyers.

For example, when we first toured the house we noticed the dated wall paper in the bedrooms and bold red and blue paints on the walls. The carpets appeared fairly worn, and the oversized drapes were making the home feel smaller that its 2,056 square feet.

While there is absolutely nothing wrong with choosing a color palette for your home that reflects your unique tastes and style, when it comes time to put your house on the market, it really needs to appeal to a broad audience.

Therefore, we painted the interior walls in a neutral beige and installed a contrasting neutral carpet throughout the bedrooms and living room. We also brightened the space by removing the drapes and valances. Initially we hoped to paint the kitchen cabinets but due to budget constraints opted to give the space a deep cleaning instead.

Initially we estimated this Realtor Redux to run between $9,000 and $11,000 out of the seller’s pocket. In the end, the cost came in at $10,300. Before our work here, the house could have been listed at around $600,000. We estimated a few weeks ago that our key improvements would allow us to place this Fullerton home for sale at $639,000. However, based on the final results and comparable properties in the area, we decided put it on the market for $649,800.

If the home sells at our list price, then that means a gross profit of $39,500 to the seller from an investment of $10,300. Not a bad return on the investment if you ask us!

Even more important than the potential financial gain we’ve reported is the feedback we received from our client upon seeing our final product. We are very pleased to say the homeowner and family were ecstatic to see their long-time home so nicely and professionally presented. We look forward to providing another update when the home sells.

Realtor Redux: Cosmetic improvements will help long-time homeowner appeal to younger generation of buyers

At Redux Realtors, we specialize in advising homeowners on which home improvements will return the most money when it comes time to sell. Many times our clients are move-up buyers or homeowners who are looking to cash out some of their home equity and move toward a downsized lifestyle.

On our latest project we’ll be working with a long-time homeowner who plans to downsize and move out of state to be closer to family. We want to help this homeowner earn top dollar when the home goes to market, which will help make that move a little easier.

As-is the house could list for $600,000. With a few key improvements, we expect to list at $639,000.

The house is a classic California ranch home in Fullerton that’s districted for Troy High School. Once we work our Redux Realtors magic, the property will be ideal for a young family looking to send their kids to a top performing school like Troy, known for its Troy Tech magnet and International Baccalaureate programs.

With that in mind, our aim is to freshen up this great house by removing some of the more dated elements that might deter homebuyers who are in their late 20s to early 30s. On top of our list is rejuvenating the interior walls. For starters, the existing wall paper has got to go. A fresh coat of neutral paint will replace the dated wall paper and will give the house a bright, clean look when it’s time to show it to prospective buyers.

The existing sea foam green carpets are also likely to give younger buyers pause, so we plan to install fresh carpets of a neutral color. And to brighten up the home even more, we’ll remove the existing drapes. If we have money left in our budget, we will also examine the cost of painting the kitchen cabinets to brighten that space as well.

All together we are working with a budget between $9,000 and $11,000. With this kind of money we can make several cosmetic home improvements that may otherwise create roadblocks in the minds of potential buyers. Thoughtful touches to a home’s aesthetic can help decrease the time a house sits on the market, increase the competition among homebuyers for a particular property and drive up the sales price.

Our suggested improvements will allow us to add nearly $40,000 to our asking price, an added gross profit to the seller of about $30,000. Not a bad investment if you ask us! Stay tuned for “after” photos and an update when the house hits the market.

VIEW OUR BEFORE-AND-AFTER PHOTO GALLERY >>

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Realtor / Equal Housing