Montecito is a gorgeous, upscale neighborhood in Santa Barbara known for its luxurious community and scenic beauty. The residents of this coastal community enjoy access to pristine beaches and scenic hiking trails, along with high-quality schools. It is no wonder many home-buyers are interested in living in Montecito.
Determining the timeline
The first step in selling your home is figuring out the overall timeline of the process. The ultimate goal is to get the best price for the house while getting it off the market as soon as possible. Even then, there are instances where the need to sell is even more urgent. Understanding the overall timeline considers what can and cannot be done, such as there might not be enough time to upgrade the kitchen.
Researching the real estate market
Once the timeline is set for the selling process, your agent will perform a local market analysis. This analysis includes researching the market trends to assess whether it is currently a buyer's or a seller's market or simply determining who the market is favoring. Part of this assessment is seeing how long homes remained on the market and what the closing price was on the house. Other key factors in performing a market analysis include researching historical data, looking at the quality of the neighborhood, the home's proximity to amenities, and evaluating the property value for other houses in the area (especially comparable listings to your property).
Considering Making Repairs and Upgrading to the house
As your real estate agent completes a market analysis, this is an opportunity to look into any repairs or upgrades. Getting these upgrades and repairs done to your home can increase its value when your agent calculates the overall prices of your home. Making these upgrades also makes it more attractive to potential buyers by improving the overall condition of the house.
Pricing the home
When an agent completes the market analysis, they will then price the home, essentially determining what it is worth. A combination of factors is utilized in pricing a home aside from the market analysis. The first factor is comparable sales, where the agent analyzes recently sold properties similar to your property in terms of location, size, and features. Specifically, agents focus on the size of the property and features such as the number of rooms, square footage, lot size, and unique features, like a pool or a view, or accessory structures.
After necessary repairs and upgrades are made to the house, it is time to stage it for maximum buyer appeal. Home staging aims to make it easier and more appealing for buyers to imagine their future lives living in this house.
Posting a listing
Once the house is staged and ready for sale, the agent will list the house on the market. There are many methods for marketing homes, but one of the most crucial platforms a real estate agent will use is the Local Multiple Listing Service (MLS). This service puts your home listing out to all the agents in the area, so if they have buyers interested in a house in your area, they have the opportunity to show their clients who are interested in buying a home in Montecito.
Working with Calcagno & Hamilton to sell your home
Are you beginning your journey of selling your home on the Montecito real estate market? Then contact Calcagno & Hamilton Real Estate Group today. Whether you are planning on selling immediately or down the line, it’s always best to get the ball rolling and to speak with a professional who can guide you every step of the way. From referring Trust Attorneys to contractors, Calcagno & Hamilton is here as your local concierge and community resource for all things Real Estate. We pride ourselves on building solid relationships with our clients throughout the selling process to ensure everything goes as smoothly as possible.
*Header photo courtesy of Calcagno & Hamilton