Michael Walters' Blog | Realty World – Innovative Realty Service

A Monterey homeowner asked a question    which many sellers wonder about: “Should I replace our dated and worn carpeting  with l new flooring on the home I’m selling?”  The seller has been told “Yes” and “No.  Buyers will want to put in their own color and texture of flooring“.

This is topic which has no perfect answer. I find most buyers really want a “turn-key” home – one where they can simply move into it and live. Those same buyers often say, “we’ll change this, and that…” but, often take a long time getting around to it if they don’t make those changes soon after the close of escrow.

A  few enterprising buyers will, in fact, shop for a ‘fixer upper’.  Some have family and or friends in “the trades” and fully intend to do a complete face lift to the home they buy.  If the rest of the home is dated and in need of repairs  the seller will have spent money on carpeting that will likely be removed.

If the home is in otherwise good condition I would go with the odds and put down a complementary-color carpet. It does make a lot of difference in the ‘feel’ and ’senses’ of that brief tour the prospective buyer will take of the  home.  We only have one chance for a first impression.  The value of getting the home sold in a timely fashion vs. staying on the market a long time suggests that the cost of carpeting is really a cost of selling.

Regarding the cost – We have a nice relationship with a carpet store where they will allow homeowners to “bill escrow” with no costs or interest for up to a year.  This kind of relationship can make the decision a whole lot easier, right?

Hollister’s housing is HOT!  Last month (5/09) saw 27 more Closings than 5/08’s 33.  That is an increase of 81.8%!  Each month this year our number of Closings has leaped ahead of ’08’s.  To date there has been a 151% increase in Closed Sales! In fact, try to buy a home in Hollister now.  “Multiple Offers” is once again a standard phrase reported to buyers by their agents.

Contributing to this hot market: New Listings of homes for sale in Hollister are down 27.9% so far this year over last year.  Last month alone we saw a drop in New Listings of 29.5% over 5/08.

The Gilroy housing market is experiencing a similar recovery with a 128.9% increase in closings and a 32.7% decrease in New Listings.

Make sure your Realtor knows all the current methods in getting an offer accepted.  You are going to need that if you want to buy a home here in Hollister.

Have you noticed Morgan Hill’s housing activity?  Wow!  Recovery is well underway in our quaint town.  In May there were 73.6% more Closings than in May ‘08.  This is the 5th straight month this year where our Closings have increased over last year’s figures.  To date, Closings have increased nearly 60% (59.4%)!

On the other hand New Listings of Morgan Hill homes for sale were down for the 5th straight month.  The number of May’s New Listings were down 55.4% vs. 5/08 and year-to-date the drop totals 23.5% over the same period last year!

In nearby Gilroy the same housing trends are happening!  Gilroy’s number of Closed Sales is up 128% from 2008!  128%!   Wow!   Our New Listings were lower by 27.9%.

The affects of ‘Supply and Demand‘ are being felt here in Morgan Hill and Gilroy.  While the interest rates are still wonderfully low I wouldn’t wait to buy.