Author: Rudy Rodriguez

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The Right Price

Deciding to sell your home is a big deal, and coming to a consensus on the list price can be the first big hurdle. Whether you’re working with an agent or listing on your own, it can be a challenge to learn how to price a house. If you’re asking yourself “How much should I sell my house for?”, this guide will help you through the process.

1. Start with your Broker Price Opinion (BPO)

A BPO is the estimated market value for your individual home, computed daily based on millions of public and user-submitted data points, and it’s a great starting point for your pricing research. You can find your BPO simply by searching your address on our website. Order your Free BPO and review your home facts to make sure they’re updated and correct. Adding details to your listing can influence your BPO and show potential buyers the most accurate value for your home.

2. Review comparables of recently sold homes
What is a Comparative Market Analysis (CMA)?

If you’re working with a real estate agent, they’ll be providing you with a CMA, which is a compilation of recent sales from your area. It takes into consideration home details, days on the market, and final sale price.

If you’re selling your home on your own, you can definitely do your own research online and get a good idea of your home’s value. But, don’t be afraid to contact a few real estate agents to  request a CMA. They’re used to providing comps to potential clients, and they may not even need to step foot in your home. You might also consider hiring an independent appraiser. For a few hundred dollars, they can give you a fair market value for your home.

If you do search for comps on your own, note that comparable properties should:

      • Be within ¼ to ½ of a mile from your home.
      • Have been listed within the last 3 months.
      • Be roughly the same age as your property.
      • Have square footage within 10 percent of yours. So, if your home is 1,500 square feet, you should look at homes between 1,350 and 1,650 square feet.
3. Learn from other sellers’ mistakes

Review expired listings from your area to gain insights on pricing your home to sell. Compare original list prices of recently sold homes with their final sale prices. Did it take many price cuts to get a sale? Perhaps it was overpriced to begin with?

4. Don’t let your asking price lump you in with the competition

Ever heard of price banding? It’s the practice of looking over current inventory in your neighborhood and finding a less crowded price point. Prices tend to get bunched up as sellers try to price their homes competitively. For example, if there are four homes in your neighborhood priced between $274,000 and $276,000, and the next set of homes start at $290,000 and up, you should take advantage of the wide open $280,000 price band.

5. Avoid obscure and century pricing

Whether at the grocery store or in a home sale, there’s a proven psychology that items priced just under a “century” number (meaning a nice, round number) are more attractive to buyers — think $9.95 instead of $10, $19.99 instead of $20, and so on. For whatever reason, your $299,999 home might seem more approachable than if it were priced at $300,000. However, pricing a house at a random and obscure number (like $123,456) is distracting to buyers and gives a bad impression of you, the seller.

6. Price for online search ranges

Consider the price range your home will fall into on popular online real estate websites. Most buyers have a price range they are considering or can afford. A buyer looking at homes in the $280,000 to $300,000 range will likely not see your home if it’s listed at $305,000. But, if you choose a home listing price of $299,999, it’ll show up in their search results — and they just might end up being your buyer.

7. Put yourself in the buyer’s shoes

It’s hard to put aside your emotional attachment to your home, but when selling your home, it’s a must. Look around at what else is selling around the same price. Objectively, are these homes worth more or less than yours?

8. A note on pricing for a bidding war

There’s a difference between “How much can I list my house for?” and “How much can I sell my house for?” Sometimes, especially in big seller’s markets, sellers list their homes for an attractively low asking price, in hopes of driving up the eventual sales price with a bidding war.

While this strategy can work, there’s always a risk of the financing falling through on your highest-priced offer, especially if your home doesn’t end up appraising for the offered amount. When that happens, you’ve jeopardized lower offers, and potential buyers may wonder if there’s a flaw in your home that made your deal fall through.

When evaluating offers, always look carefully at all aspects of each offer before deciding which to accept — there are more factors than just the price offered.

9. Don’t hesitate to cut the price after listing

Even with the best research, sometimes you’ll come to the conclusion that you’ve listed too high. Luckily, it’s not unusual to see price cuts. In fact, according to a CAR Report, 64 percent of sellers lower their price at least once. The key is to recognize quickly that you’ve overpriced, and make an accurate adjustment.

Avoid the temptation of making a few little pricing tweaks over time. Older listings simply aren’t as attractive to buyers, and your goal is to sell quickly. It’s always better to make one big price correction up front.

10. Get a second (expert) opinion

Agents are pros when it comes to pricing properties and have their finger on the pulse of your local market. They understand current buying trends and can provide insight into how your home compares to others for sale nearby. It might be worth enlisting an agent’s help if you’re having trouble finding the right price point. 

How to price your home for the current housing market

To learn how to sell your house for the best price, keep in mind the following factors:

      • Seasonality: 

In the majority of the country, spring is considered the best time to sell a home — the weather is improving and families want to move during the summer break from school. Fall is considered second-best, as most people are back in town from summer vacations. Winter is the slowest season, not only because of bad weather, but because people are busy with the holiday season. Of course, the very best time to sell varies a bit city by city.

      • Inventory: 

In Economics 101, we were taught the basics of supply and demand, and it definitely applies to real estate. If your home is one of 20 for sale in your neighborhood, you’ll have a hard time getting the price you want, since supply outweighs demand. But, if it’s a hot market and you’re one of just a few homes available in your area, you may be able to get your asking price, or even higher.

      • Buyer’s market: 

In a buyer’s market, you need to be priced slightly lower than the competition, because there are more homes for sale than there are buyers in the market.

      • Seller’s market: 

In a seller’s market, you can add about 10 percent to a comparable sale, since inventory is limited and buyers are competing for fewer homes.  

      • Neutral market: 

In a neutral real estate market, there’s an even balance between the number of buyers and the number of homes for sale. In this market, you’ll want to keep an eye on nearby comparables to make sure your pricing is similar.

Making The Dream Reality

Everyone has a dream they want to come true in life. Whether it’s having the Ultimate job, living where you’ve  always  wanted, starting a family   or    a    combination    of   all    these,   our  aspirations   motivate  us   to  pursue  these  passions   and   interests.  But reaching    your    dreams   starts   by setting goals for yourself and  having the  tenacity  and initiative to achieve them.

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Ca – Proposition 19

The recent passage of California Proposition 19 means substantial changes to the manner in which real property is reassessed in California.  These changes will bring greater flexibility to certain property owners who are over 55 or the victims of natural disasters but will mean greater restrictions on certain intra-family transfers (aka parent to child or grandparent to grandchild).

1. Primary Residence Transfers. 

Currently, an individual who is over age 55 or who is a victim of a wildfire or natural disaster and who sells his/her primary residence may transfer his/her assessed value in his/her existing primary residence to a new primary residence.  This can only be done once per lifetime and only for a replacement dwelling in the same county or in the ten counties that permit intercounty transfers, and only if the purchase price of the replacement residence is equal to or less than the purchase price of the original residence.

Prop. 19, however, provides that these individuals may instead make three transfers per lifetime, in any county in California, and that they may do so for a replacement property with a purchase price higher than the value of the original property.  In the latter case, the assessed value for the replacement property will be the assessed value of the original property, plus the difference in value between the original property’s sales price and the purchase price of the replacement property.

The Prop. 19 rules affecting these primary residence transfers will take effect on April 1, 2021.  Therefore, individuals who believe they will qualify for such exemptions should wait till after April 1, 2021 to sell their current primary residence.

2. Intra-Family Transfers.  

Under current law, California property tax is assessed based on a property’s purchase price, plus the cost of any improvements to the property.  Since the enactment of Proposition 13 in 1978, the assessed value of a property may be increased no more than 2% per year, unless there is a “change in ownership” (e.g., a sale or transfer of the property), in which case the property is reassessed at its current market value at the time of transfer.  Exempt from the “change of ownership” rules are certain transfers from parents to their descendants.  Parents can transfer to their children (or, in some cases, grandchildren) their principal residence, plus additional real estate with an assessed value of up to $1,000,000, without triggering a reassessment of the property. 

With the passage of Proposition 19, however, the ability of parents to leave real property to their children without triggering a reassessment is greatly curtailed.  The only transfer that will not constitute a “change in ownership” is one that meets the following criteria:

  1. The property transferred must be the parents’ principal residence;
  2. After the transfer to the child, the child must use the property as his/her primary residence; and
  3. The child’s assessed value will be the parents’ assessed value plus up to $1M; any amount of the current market value over that amount will be subject to reassessment.

Facts for Example 1 and Example 2 below, let’s say that Mom owns her primary residence, which she purchased some years ago.  At the time of her death, the residence has an assessed value of $200,000, and is worth $1.7 million.  She also owns 4 rental properties, which are currently worth a total of $12 million and which have a total assessed value of $1 million.  Assuming a 1.25% property tax rate, Mom pays $2,500 in property taxes on her residence each year, and $12,500 for the rental properties, for a total of $15,000 a year in property taxes.

Example 1

Current law under Prop 58:  if Mom transfers the primary residence and the rental properties to her son, Edward before February 15, 2021, the transfer of the primary residence is protected in an unlimited amount, and the $1 million in assessed value of the rental properties is protected.  There will therefore be no reassessment, and Edward will pay the same property taxes that Mom did – $15,000, increasing by no more than 2% per year.

New Law under Proposition 19:  however, the results are very different.  If Edward intends to live in the residence, his assessed value for that property will be calculated as follows:  The amount protected from reassessment is $200,000 (Mom’s assessed value) plus $1M, for a total of $1.2M. The difference between the current value ($1.7M) and the protected amount ($1.2M) is subject to reassessment.  That means that $500,000 (1.7M  – 1.2M) is subject to reassessment.  Edward now has an assessed value of $700,000 ($200,000 Mom’s assessed value + $500,000 reassessment).  The property taxes will therefore increase from $2,500 to $8,750 a year ($700,000 x .0125). As for the rental properties, Prop. 19 does not provide an exclusion for ANY rental property.  Edward will therefore have an assessed value of $12,000,000.  The property taxes on the rental properties will therefore increase from $12,500 to $150,000 per year.   Edward will therefore pay a total in property taxes each year of $158,750 on properties with a total current value of $13,700,000 and a total current assessed value of $12,700,000.

Current Law

Proposition 19

Primary residence assessed value

$200,000

Rental properties assessed value is

$1 million

(exempt under R&T Code Section 63.1(a)(1)(A))

Rental Properties assessed value $1M (exempt under R&T Code Section 63.1(a)(1)(B))

Primary residence receives a limited exemption which is current assessed value + $1M (200,000 + $1M = $1.2M).  Current fmv ($1.7M) less limited exemption ($1.2M) = 500,000, which is reassessed.  Child’s assessed value is thus $700,000 ($200,000 Mom’s assessed value + $500,000 reassessment).

Rental properties receive no exemption and are reassessed to their fmv of $12 million

Assessed value is $1.2 million,

total same as mom’s

Child’s new assessed value is $12.7M (700k for primary residence + $12M rental properties)

Property tax under current law would be  $15,000

New Property tax is $158,750!!!

Example 2

If Edward does not intend to live in the primary residence, the assessed values for the residence and the rental properties will total $13.7 million, and he will pay $171,250 in property taxes each year.

Current Law

Proposition 19

Same as Example above.

Primary Residence assessed value

 $200,000.

Rental Properties assessed value is $1 million

(exempt under R&T Code Section 63.1(a)(1)(A))

Property #2 assessed value $1M (exempt under R&T Code Section 63.1(a)(1)(B))

Primary residence and Rental properties will be reassessed to the fair market value because of the requirement the property be mom/dad’s primary residence and son’s/daughter’s primary residence after transfer, respectively.

Assessed value is $15,000,

total, same as dad’s

Assessed value is $13.7 million total ($1.7M for primary residence +$12 million for the rental properties)

Property tax under law is $15,000

Property tax is $171,250!!!

The above two examples illustrate how Proposition 19 will take the child’s inherited property taxes on the real estate from $15,000 to an increased minimum of $158,750!

Proposition 19 became effective for transfers on February 15, 2021.  A child wishing to claim the exemption must do so by declaring the property to be his/her primary residence within one year of the transfer.  This deadline may not be extended.

Practitioners are currently working to create ways for taxpayers to avoid the negative repercussions of Proposition 19.  It is also important to balance the need for estate tax planning with income tax planning – e.g., whether it is desirable for the property to be part of the owner’s estate so that a stepped-up basis may be obtained.  Complicating the situation further is the fact that given the uncertain nature of the Senate composition, it’s not yet known what the future holds in terms of changes to the tax code. Whether or not Proposition 19 planning is right for a particular property owner therefore depends on several factors, including:  How long a property has been owned, the difference between the assessed value and the current market value, whether the owner’s children intend to keep or to sell property after the owner’s death, whether estate tax planning is a concern, income tax planning needs, and the ultimate outcome of the current Senate race.  Property owners may therefore wish to consult their estate planning counsel to determine which course is most advantageous for them, because there are solutions to minimize and even eliminate the effects of Proposition 19.

All Information is deemed reliable but not guaranteed. Information is for educational purposes only. 

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Certified Probate & Trust Specialist 

As a Certified Probate & Trust Specialist you can rest assured that as a Real estate professional, I have the understanding of the Probate transaction and can represent sellers or buyers in probate transactions, as well as investors looking to purchase probate properties. 

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9 Backsplash Ideas

9 Unexpected Backsplash Ideas That Aren’t Just For Your Kitchen

These surprising backsplashes will have you rethinking how you can protect your walls while adding stylish details.

By Kristina McGuirk 

 
There are many places that benefit from protective wall coverings, whether it’s your mudroom, a coffee station, your bar cart, or a bathroom. Backsplashes are a fun way to add pattern, color, and personality, but they’re also hardworking, defending walls from splashes and spills. A smart use of materials and a thoughtful approach can create stylish backsplashes in every room of your home.
small laundry roomAdd Peel-and-Stick Tiles

Protect your walls from dripping detergent and drying laundry with peel-and-stick tiles. This backsplash solution is a quick weekend update and easier to install around existing cabinets and appliances than grouting and setting real tiles. Available in a variety of styles like classic subway tile and rustic wood planks, there’s likely to be something to match your home decor or provide the perfect opportunity to try a new look.

 
Wooden panel built-in home stocked bar
 

Sneak In Hidden Details

Dedicated bar areas have the potential for troublesome spills, including red wine, juice, and sticky syrups. These usually compact areas let you make use of less common or more expensive backsplash materials. In a small space, a backsplash can really pack a style punch. This clever wet bar boasts a stone countertop and backsplash that protects the entire sink area. It’s an unexpected luxury, as the bar area is usually hidden in a living room cabinet.

Corner of room with floral wallpaper
CREDIT: DAVID TSAY

Install Scrubbable Wallpaper

Try wallpaper for a budget-friendly backsplash that cleans up easily. It also lets you get creative with non-traditional shapes and profiles, which is much harder to do with traditional tile. Make sure to search for scrubbable versions, which are resistant to moisture. Plus, today’s temporary wallpapers make it easy to update your backsplash when you want a change.

 
white mudroom bench with pillows shoe storage below
CREDIT: KIM CORNELISON

Add a Beaded-Board Backsplash

The entryway is a hardworking introduction to your home. As the first place guests see, you want it to look good, but it also needs to stand up to daily use. A paneled backsplash in a similar shade as the foyer walls offers extra protection where shoes, bags, and coats are dropped. Alternatively, an extra-tall baseboard is an incognito backsplash that protects walls from splatters at the shoe drop.

built-in desk office space white cabinets teal colored chair
CREDIT: ADAM ALBRIGHT

Boost Function in a Desk Area

Home offices and workstations are seeing more activity than ever before, and the walls behind our desks are prone to pen marks, coffee splashes, lunch spills, and more. But they’re also valuable real estate for inspiration and planning. A bulletin board backsplash protects the wall and makes it useful. Dress it up with paper that can be changed when you fancy a new look. A chalkboard offers similar functionality; a dramatic desk-to-ceiling installation gets a finished look from a wood frame. Or try a modular approach that mixes multiple hardworking materials like chalkboard, pegboard, cork, whiteboard, or papered surfaces.

kitchen stove range with city map wallpaper backsplash
CREDIT: JOHN BESSLER

Personalize a Kitchen Backsplash

Highlight your personal interests with a show-stopping custom kitchen backsplash. An image applied to the wall behind a sheet of glass lets you dedicate significant wallspace to something you love. It adds all the color and pattern of tile without the grout lines.

kitchen breakfast nook green table and bench yellow flowers in teal vase
CREDIT: JOHN GRANEN

Install Wainscoting

When designing a breakfast nook or banquette, consider easy-to-clean backsplash ideas. Running tile or beadboard up the walls behind seated dinners can help save them from accidental splatters. Wainscoting provides similar protection with a more traditional look. Alternatively, raise the backs of banquette seating and use durable, washable fabrics that can easily be wiped down.

white kitchen tile backsplash decorate throw pillows
CREDIT: JIM FRANCO

Choose Colorful Grout

Colorful or contrasting grout is a simple way to make a backsplash stand out, no matter the material or application. The unexpected use of color adds bright personality, and regrouting can change the look of existing tiling. If your style is more traditional, make an interesting backsplash tile arrangement the center of attention with contrasting grout, such as this white herringbone backsplash finished with black grout.

9 Unexpected Backsplash Ideas That Aren’t Just For Your Kitchen

These surprising backsplashes will have you rethinking how you can protect your walls while adding stylish details.

By Kristina McGuirk 

February 25, 2021
 
 
CREDIT: WERNER STRAUBE

Add Peel-and-Stick Tiles

Protect your walls from dripping detergent and drying laundry with peel-and-stick tiles. This backsplash solution is a quick weekend update and easier to install around existing cabinets and appliances than grouting and setting real tiles. Available in a variety of styles like classic subway tile and rustic wood planks, there’s likely to be something to match your home decor or provide the perfect opportunity to try a new look.

 
Wooden panel built-in home stocked bar
CREDIT: WERNER STRAUBE

Sneak In Hidden Details

Dedicated bar areas have the potential for troublesome spills, including red wine, juice, and sticky syrups. These usually compact areas let you make use of less common or more expensive backsplash materials. In a small space, a backsplash can really pack a style punch. This clever wet bar boasts a stone countertop and backsplash that protects the entire sink area. It’s an unexpected luxury, as the bar area is usually hidden in a living room cabinet.

Corner of room with floral wallpaper
CREDIT: DAVID TSAY

Install Scrubbable Wallpaper

Try wallpaper for a budget-friendly backsplash that cleans up easily. It also lets you get creative with non-traditional shapes and profiles, which is much harder to do with traditional tile. Make sure to search for scrubbable versions, which are resistant to moisture. Plus, today’s temporary wallpapers make it easy to update your backsplash when you want a change.

 
white mudroom bench with pillows shoe storage below
CREDIT: KIM CORNELISON

Add a Beaded-Board Backsplash

The entryway is a hardworking introduction to your home. As the first place guests see, you want it to look good, but it also needs to stand up to daily use. A paneled backsplash in a similar shade as the foyer walls offers extra protection where shoes, bags, and coats are dropped. Alternatively, an extra-tall baseboard is an incognito backsplash that protects walls from splatters at the shoe drop.

built-in desk office space white cabinets teal colored chair
CREDIT: ADAM ALBRIGHT

Boost Function in a Desk Area

Home offices and workstations are seeing more activity than ever before, and the walls behind our desks are prone to pen marks, coffee splashes, lunch spills, and more. But they’re also valuable real estate for inspiration and planning. A bulletin board backsplash protects the wall and makes it useful. Dress it up with paper that can be changed when you fancy a new look. A chalkboard offers similar functionality; a dramatic desk-to-ceiling installation gets a finished look from a wood frame. Or try a modular approach that mixes multiple hardworking materials like chalkboard, pegboard, cork, whiteboard, or papered surfaces.

kitchen stove range with city map wallpaper backsplash
CREDIT: JOHN BESSLER

Personalize a Kitchen Backsplash

Highlight your personal interests with a show-stopping custom kitchen backsplash. An image applied to the wall behind a sheet of glass lets you dedicate significant wallspace to something you love. It adds all the color and pattern of tile without the grout lines.

kitchen breakfast nook green table and bench yellow flowers in teal vase
CREDIT: JOHN GRANEN

Install Wainscoting

When designing a breakfast nook or banquette, consider easy-to-clean backsplash ideas. Running tile or beadboard up the walls behind seated dinners can help save them from accidental splatters. Wainscoting provides similar protection with a more traditional look. Alternatively, raise the backs of banquette seating and use durable, washable fabrics that can easily be wiped down.

white kitchen tile backsplash decorate throw pillows
CREDIT: JIM FRANCO

Choose Colorful Grout

Colorful or contrasting grout is a simple way to make a backsplash stand out, no matter the material or application. The unexpected use of color adds bright personality, and regrouting can change the look of existing tiling. If your style is more traditional, make an interesting backsplash tile arrangement the center of attention with contrasting grout, such as this white herringbone backsplash finished with black grout.

© 2025 All Rights Reserved.