After 16 months of year-over-year declines, median home prices in California posted a gain, according to the California Association of Realtors.

The median price of a single-family home in California for March 2012 was a 1.6 percent increase compared to March 2011, and a 9.2 percent increase compared to February. The month-over-month increase was the largest since March 2004.  As I mentioned in previous articles, the resort situation of Mammoth Lakes is unique but data does support sellers receiving a higher price for their property than this same time last year but it taking more time to get there (longer days on the market).

If you decide now is the time to sell, the first important action step is to bring in a qualified expert to help. Finding a good agent to guide you through the real estate transaction can make a huge difference.

Make your home stand out. You must highlight and promote what makes your home stand out. Make a list of the “Top 10 Things You Love About Your Home” and share these with your agent.

I have said it before but is bears repeating – be realistic about pricing. Let your agent guide you to the right pricing. Your home will sit on the market and, in many cases, not get any traffic if it’s not properly priced. A qualified agent researches the market and understands realistic pricing. The agent isn’t emotionally vested in the price and can help you compare your home to others that have sold or are currently on the market so that you can see how your home should be properly priced.

If the home is priced right, you will see offers come in and you must be ready to take action.

 

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