Originally posted here
A long-time residential real estate professional and Certified Divorce Real Estate Expert, Shannon Rose of Silicon Valley’s Rose Group has roots in San Diego: A former Miss La Mesa, Shannon lived in East County for more than a decade and still visits family several times per year. Watching the San Diego market for some time, when Proposition 19 went into effect, she noticed a sudden uptick in buyer interest—and inquiries from people she knows—and realized her expertise would provide incredible value to sellers in Southern California’s exploding real estate market.
Shannon has already closed her first San Diego sale: an immaculate solar home in El Cajon. She and her client immediately received 13 offers, including an over-asking offer that was accepted on the home’s third day on the market.
Shannon’s best advice for her San Diego sellers: “Don't wait for the market to keep going up just so you can grab an extra $10-20K. The market is up now, but you never know when it will turn the other way,” she says. “And if you’re nervous about selling because you don't know where you’re going to live next, don't worry! We have programs that will ease your concerns.”
Building a successful career while navigating Silicon Valley’s tumultuous market history, Shannon knows what to expect from a fast-growing market. Her career began in 2004, just as the US housing bubble was reaching its peak—and she watched the bubble burst from the front lines just three years later. Those back-to-back market extremes gave her a deep understanding of how to navigate dramatic changes in the residential real estate market.
One of the keys to being successful in a competitive market is knowing which tasks need to be done early in order to attract strong offers. “Getting inspections done and writing disclosures in advance will reduce the need for further negotiating after a seller is in contract with a buyer,” says Shannon. “We still want the buyer to have their full rights to investigations, but it certainly can ease their minds knowing that we already have reports from certified inspectors who were hired to thoroughly evaluate the property before we even put it on the market.”
Shannon recommends that buyers leverage Proposition 19 to port their tax basis to a new San Diego home, now that it’s possible for California homeowners to move anywhere in the state at—or near—their current tax rate.
“San Diego has always been a beautiful, sunny, great weather, tons-of-things-to-do kind of place,” says Shannon. “And it’s a lot less expensive than places like Orange County, Silicon Valley, and the greater Bay Area. It’s a great place to retreat to or live full-time. It’s still affordable and has great lifestyle benefits.”
Her advice for buyer success is to pay attention to contingencies: the key is to reduce the number of ways a transaction can be canceled. Buyers have to be ready to compete on multiple fronts, including proving the ability to pay back a mortgage. “Interview lenders and get a pre-approval underwritten before writing any offers,” she says. “This way you can write a strong loan contingency. Sellers love short loan contingencies, and proving that a buyer can make good on their offer will go a long way.
“And buyers should review property disclosures before writing an offer,” she adds. “Knowing the little details of a home—and understanding what may need to be fixed—helps buyers write informed offers, and can prevent new contingencies from springing up after the inspection.”
To learn more or to enlist Rose Group to help you sell your San Diego County home, visit RoseGroupRE.com.
REALTOR®, CDRE, CLHMS, SRES, CDPE
About Rose Group/KW Bay Area Estates:
Rose Group, with KW Bay Area Estates, is a trusted real estate team focused on providing a smooth transactional experience to home buyers and sellers throughout the Bay Area and across the U.S. Comprised of exceptional agents and a dynamic support staff, Rose Group is equipped to manage all transaction types including residential sales, divorce real estate, investment property analysis, professional marketing, 1031 Exchanges, pre-foreclosure counseling, and short sales. For more information, visit Rose Group online at RoseGroupRE.com. DRE# 01526679.