Check out 👀 this Picture Perfect Flip in San Diego. What stood out to us right away on this listing were the great pictures and staging. The renovation was simple and clean, and the townhome/condo was modest. However, the staging & photos really made this listing stand out from other listing in the area. Inventory is expected to increase in 2024, compared to 2023, and standing out from the competition will become increasingly important.
We gathered up the top five tips from local real estate agents:
🏠Staging – You don’t need to pay a fortune for it, but we recommend staging at least 3 to 4 rooms
📸 Get Awesome Professional Photos 📸 👨💼- there’s no such thing as too many photos as long as they look good.
🔑 Hire the right agent that is responsive and professional. A bad agent can cost you a lot of profit!
💰 Price your property right , inventory is expected to increase in 2024, and price drops/stale listings will make your buyers start asking the wrong questions.
💻 Include a floor-plan and virtual walkthrough – a great online presentation will drive buyers to your property and create demand/competition.
Not only did they do a nice job, but the finished flip in 90 days. Also, and most importantly, they made a good profit.
🏡 Market Update for San Diego🏡
The San Diego market experienced a bit of winter lull as the median home price dropped from $850k in August of 2023 to $805k at the end of the year. That was a 5% drop in home values in a short time. However, the market bounced back in January of 2024 with an increase back up to $820k. Will February bring an early spring market to San Diego and continue the recovery from a slow winter? Inventory has dropped down to about 3000 homes on the market, which is near the low point for the past 24 months, but sales volume has also dropped along with it. With right around 2 months of inventory, we are expecting the median price to continue it’s upward trajectory in the short term…
Let’s talk about you next investment (858)720-0229