Expert Tips for Selling Your Home in Cardiff, CA

The beach town of Cardiff, CA is a slice of paradise within the city of Encinitas — and anyone would be lucky to call it home. If you’re a homeowner in the area and you’re interested in offering this opportunity to someone else, here are some of the most effective tips for selling a home in this highly dynamic market.

1. Understand the real estate market

Anyone who is selling a house in California knows that the housing market in the state is one of the most competitive in the whole country — and Cardiff is no exception. While it saw dips in market activities during the pandemic, like many places in the US, it is now poised to regain equilibrium. And the hot interest in the available properties in the area is an encouraging signal.

As of November, 2023, homes for sale in Cardiff, CA have a median listing price that ranges from $2 to $2.5 million. While quite high — even for California, which has a median selling price of a little over $850K — it has not dissuaded buyers from snatching up properties in the neighborhood.

The Cardiff housing market is a seller’s market. This means that as a seller, you can anticipate the following:

• Your home might sell faster. 

  In a seller’s market, there are more interested buyers than there are available homes for sale. As a result, whatever is on the market tends to get snatched up pretty fast.

  In Cardiff, it takes about 40 days to sell a house, faster than the national average of 50 to 100 days.  And if your home has standout features that make it more desirable than the competition, it might sell even more quickly.

• You might receive multiple offers.

  With limited inventory, you can expect multiple buyers to be interested in your property and try to outbid each other. A bidding war means greater opportunity for you to get a higher price for your home.

  When you get multiple offers, take your time in looking over each bid and deciding which one to accept. A seller’s market gives you the luxury of comparing offers and opting for the most rewarding one. Keep in mind that the highest bid is not always the best one. Look into the terms and perks included in the offer as well. Some buyers may add sweeteners, such as waiving some seller concessions, a flexible move-in date, fast closing, and so on.

2. Get familiar with home selling requirements

When selling a house in California, there are several legal requirements that you must meet to facilitate a smooth transaction as well as avoid penalties, including:

• Disclosing Material Facts

  Home sellers are required to disclose in writing material facts known to them that have implications on the condition of the property and can affect its desirability. These include:

  • Structural problems
  • Roof defects
  • Soil issues
  • Noise problems in the neighborhood
  • Any construction that has been undertaken without a proper permit

  “Materials facts” refer to anything that would have discouraged the buyer from buying the property or serve as a negotiating point.

  As-is transactions, where the buyer agrees to purchase the home regardless of its existing issues, also still require disclosure. And, as a general rule of thumb, if you are unsure whether to disclose a fact or not, it’s best to err on the side of caution and disclose it anyway. This way, any issues that can result in the sale falling through or future legal proceedings can be avoided.

• Working With a Title Company

  A title insurance is integral to the buying process because it is required by lenders in the mortgage process. So without it, the transaction may not be able to move forward. Typically, in southern California where Cardiff is located, sellers shoulder the cost of the title insurance. But in a seller’s market, anything is up for negotiation.

  If you’re paying for the title insurance as the seller, you can choose the title company to work with. The buyer or any other entity can’t compel you to work with their desired title company. The firm will do a title search and issue a Preliminary Title Report (PTR), and if they find the property to have a clear title, they will issue a title insurance policy to the buyer.

• Hiring an Escrow Agent

  Additionally, selling a house in California typically requires the services of an escrow agent. Unlike in Northern California where the title company also often acts as the escrow agent, in Southern California, it’s customary to hire a separate escrow company Escrow agents take charge of safekeeping any funds paid in the transaction, as well as important documents such as the deed, until the conditions of the sale are met. At closing, the escrow agent is responsible for releasing the funds and documents to the right party.

• Paying the Transfer Tax

  In California, when transferring ownership from the seller to the buyer, a transfer tax is imposed by the county and city. The actual percentage varies from place to place, and in Encinitas where Cardiff is located, the city and county governments impose a total transfer tax rate of $1.10 for every $1000 of the property value.

  As with escrow and other fees, sellers in Southern California are usually responsible for paying the transfer tax. You can negotiate this with the buyer, however, especially in a competitive market like Cardiff.

3. Research the market for more accurate pricing

Even in a seller’s market, an overpriced property can remain unsold for a long period of time. With such a high amount at stake, buyers will always want to make sure they get their money’s worth.

Check the prices of recently sold properties in the area that are similar to yours. You can then use these to set a listing price that’s profitable for you but will not turn potential buyers away. Additionally, check recent sales in the market to understand how long it took for similar properties to get sold, their average sale price, and other details. This will help you fine-tune your strategy to reflect what the market wants.

Work with your agent in pricing your home. Realtors can conduct a comprehensive market analysis that takes into account recent sales in the area as well as current market conditions to determine the right price for your property.

Your agent can also help create a pricing strategy for your listing. For example, you can opt to set a lower price to attract more interest and potentially start a bidding war. On the other hand, your agent might recommend setting a price higher than the property’s market value if the market is red hot. Whichever strategy you choose, your Realtor can provide you with everything you need to make an informed decision.

4. Understand what buyers want.

One of the most effective tips for selling a home is to be strategic about delivering what buyers want. Here are some suggestions to think about.

• Hire a professional photographer/videographer. Photos are crucial to real estate selling success. More than 80% of buyers say that pictures contribute to their decision-making, allowing them to choose which properties to visit. Homes with high-definition photos get a whopping 118% increase in online views and get sold 50% faster.

  Professional photos can also help your property fetch higher asking prices. And listings with videos do even better! Properties that come with videos in addition to photos get 400% more engagement.

  When listing your home, scout for a professional team of photographers or videographers who can capture the most appealing images and videos of your property.

• Depersonalize. It’s also necessary to make sure that photos and videos of your home no longer reflect signs of being lived in. Remove clutter and depersonalize your home to make it easier for buyers to imagine living in your space.
• Enhance your curb appeal. Similarly, work on renovations that can enhance your home’s curb appeal. Here are a few simple tricks for a quick makeover:
  • Repainting doors, walls, and windows
  • Power washing the driveway
  • Sprucing up the landscaping
  • Incorporating exterior lighting
  • Repairing the roof
  • Updating the mailbox

5. Decide the best time to sell

Knowing when to put your home on the market is also key to selling it fast and successfully. Spring is usually the best time of the year to sell your house, but in California, where it’s generally sunny all year round,  the first 10 weeks of the year are typically the most ideal time to sell.

This isn’t set in stone, however. This is why it’s crucial to be familiar with your market’s specific nuances. But as a rule of thumb, you’ll know it’s a great time to sell your home when these factors are present:

• When housing inventory in your area is low
• When mortgage rates are low
• If your home’s value has recently increased
• When demand is high

6. Work with a local real estate expert

Make sure to enlist the help of an expert local Realtor. A professional with extensive experience in selling properties in Cardiff can help you in the following:

• Gain insights into the local market to help inform your real estate decisions
• Market your home effectively to the right buyers
• Use their network to spread the word about your listing
• Have access to other professionals who can help you with the process, such as real estate attorneys, home inspectors, and others
• Comply with all legal requirements and avoid costly risks

7. Avoid common home selling mistakes

When it comes to tips for selling a home, it is equally important to know about the most common mistakes to avoid. These include:

• Overpricing

  Cardiff, CA may be attracting a lot of buyers, but that does not mean that you can put an unreasonably high price tag on your home and expect a fast sale. Overpricing can drive away interest and lead potential buyers to consider other properties.

  In many cases, homeowners tend to be emotional in pricing their properties, so you may need the objectivity of a Realtor in setting the price. It’s also  important to do your own research to get an idea about the market value of homes in your area. This will help guide your decision-making along with your Realtor’s recommendations.

• Not expecting home-selling costs

  One of the most crucial tips for selling a home is to keep in mind that in Southern California, sellers are typically expected to cover costs related to the sale of a house, such as the title insurance and the transfer tax.

  It might be possible to negotiate with the buyer and ask them to cover these costs. But if that falls through, it’s best to be prepared. This is when it’s ideal to have the assistance of professionals with experience in Cardiff real estate to help you navigate the process.

• Not staging your home

  Staging your home refers to the process of fine-tuning every detail of the property to make it desirable to potential buyers. According to studies, homes that are staged sell for 5% to 23% more than the listing price.

  Some of the most effective ways to stage your home include choosing a neutral palette, deep-cleaning and decluttering, adding fresh flowers or potted plants to your decor, and harnessing natural lighting. It’s also beneficial to focus on your living room, as this is considered the highest priority room to stage for buyers.

• Working with an inexperienced agent

  Your choice of real estate professional is perhaps the most significant part of effective tips for selling a home. Working with the wrong agent can have many unwanted consequences — from your home languishing in the market to delays in closing to failing to comply with legal requirements.

Before you get started with the process, make sure to find a licensed professional with plenty of experience in Cardiff, CA real estate. They can help you streamline the process to optimize your resources and will have the necessary experience and knowhow to provide the information and insights you need in your home selling journey. With a seasoned professional by your side, you won’t need to spend as much time just trying to figure out where to start, which will also help you save on costs.

Sell your Cardiff, CA home with the help of Sean Caddell & Associates

Ready to put your Cardiff house on the market?

We at Sean Caddell & Associates draw from extensive years of experience in helping property owners successfully sell their homes in San Diego County. Our team has also been leading buyers to their dream luxury real estate in the area and this has equipped us with the knowledge to help you understand what buyers are looking for as well as to strategize how to deliver what they want.

We pride ourselves in providing personalized service to meet your specific goals. So whether you’re selling your home to downsize, upsize, relocate, or start an investment, you can rely on us for exceptional guidance from start to finish.

Talk to us about your needs today by calling 858.472.1074 or emailing this address.