Los Angeles Homes for Sale. The Calm Before the Storm?

Renting a Home in Santa Monica, Santa Monica Rental Properties

Wouldn't it be lovely if we all had a crystal ball? We would know exactly the right time to buy and the right time to sell real estate. We would wait until the top of the market to sell our home or the bottom of the market to buy. Gauging the top or the bottom of the market is extremely difficult and we would all be millionaires if we had that skill. So when is the right time? Sorry, I don't have a crystal ball so I cannot tell you definitively. What I will tell you is, the right time is … [Read more...]

How Much is My Home Really Worth? Ask Your Buyer

What is my home worth

You may be thinking of refinancing or selling your Los Angeles home. Are you wondering what it is worth these days? Well, for refinancing an appraiser is the one who will determine the value, but if you are thinking of selling your home then it is only going to be worth what a buyer is willing to pay. The first step in pricing your home for a listing is for your real estate agent to present you with a comparable market analysis (CMA), sales of comparable homes in the immediate area, or if … [Read more...]

Reasons Why The L.A. Housing Market Is Good For Home Sellers

Average days on the market for homes in L.A. are down

Are you a Los Angeles homeowner considering putting their home on the market? Have you been thinking about the possibility for quite a while? Was the situation was not right, or were you waiting out the market? If the latter is true, and coincidentally any barriers to selling have been removed, now is a great time. Why is that? Let's take a look at the numbers for single family homes taken from a sampling of the major Los Angeles communities: The median home prices are up 20% over a … [Read more...]

Should I Sell my Home Before Buying?

You should sell your Los Angeles home before selling another

If you are thinking of selling your Los Angeles home you are going to be in one of the following situations: Looking to move up or downsize. Changing school districts Moving to a new city In any event, if you are selling your home you are going to have to live somewhere, and if you are buying another place then you will need to plan carefully, because with the shortage of inventory in many markets you are going to have to have all your ducks in a row. So, should you sell your … [Read more...]

How to Choose the Right Agent When Selling Your Home

When selling your Los Angeles home set expectations with your Realtor

You have decided to sell your Los Angeles home and are in the process of picking an agent to represent you. They are not difficult to find. They may still be knocking on your door, sending you postcards in the mail, or maybe cold calling you. There are hundreds of them with online websites, and someone may have referred one to you. So how do you choose the right one for you? The same way the agent working for the buyer represents that buyer, the agent working for the seller represents that … [Read more...]

Inventory is Low, But You Can’t Overprice Your Home

Don't over price your home for sale

Just because the Los Angeles real estate market is low in inventory does not mean that you can go ahead and overprice your home. Here are some examples of why: For single family homes, in an area which covers Westwood and West Los Angeles: There were 73 sales over the past six months, 11 of which had a price reduction during the course of the listing. The sold price vs list of the 62 which did not have a price reduction was 102.54% with an average of 34 days on the market. The … [Read more...]

Increase the Resale Value of Your Home – Los Angeles Times

New homes on the market in Echo Park

Are you thinking of selling your Los Angeles home and wondering whether you should remodel or sell as is? The article below discusses some renovations you may want to consider and also provides my point of view on whether to remodel or not. Increase the Resale Value of Your Home - Los Angeles Times. … [Read more...]

To Buy to Sell to Rent? Is Your Head Spinning?

To buy, to rent, to sell. Is your head spinning?

It's a strange phase in the Los Angeles real estate cycle right now, and as in any economic cycle there are winners and losers.  So who are the biggest winners right now? Landlords/Investors After the recession homeowners who were forced to sell are still unable to get back into the housing market, either because of credit issues or because they are being priced out of the market by the competition. There is a shortage of inventory, and there are many cash buyers with deep pockets swooping … [Read more...]

Any Doubt that the Los Angeles Real Estate Market Favors Sellers?

Los Angeles home sellers we want upi

By now I am sure everyone is aware that the Los Angeles real estate market heavily favors sellers, and I mean heavily. Is this just talk to get homeowners to sell or is it real? The chart below is based on sales over the past six months.   Single Family Community Sold Avg DOM Avg Sales vs List Bel Air/Holmby Hills* 67 122 86.60% Beverly Center | MM* 84 51 99.35% Beverly Hills 78 86 94.61% Beverly Hills … [Read more...]

Real Estate is a Business of Emotions Not Actions

Act don't react in the home buying and selling process

When buying a car there is an unwritten rule that you are supposed to haggle for the best price and emotions generally don't factor in. Some people enjoy the dance and don't take it personally when they don't get what they want. Real estate is a business in which emotions probably run higher than any other. The purchase is huge and it is personal, and often the process is approached like preparation for battle. The buyer knows the seller is out to get them and vice versa. And from there each … [Read more...]

Silicon Beach Creates a High Demand for L.A. Westside Homes

Venice CA Community, Homes for Sale

Silicon Valley is well known, but have you heard of Silicon Beach? There has been a huge growth in start-up tech companies on the Westside in an approximate three-mile area covering Santa Monica, Venice, Marina del Rey and Playa Vista. Companies such as Google, Microsoft, Facebook, Snapchat and Hulu have branched out into "Silicon Beach", and Los Angeles as a whole probably has the the second or third highest concentration of tech companies in the world. With this kind of growth there would … [Read more...]

Five Ways to Sell Your Los Angeles Home Today

L.A. home sellers show your home's best face

If you are wondering right now if and how you should sell your Los Angeles home, I have the answer" Put in on the market! Put in on the market! Put in on the market! Put in on the market! Put in on the market! There really is no magic to it right now. Inventory is so low that you don't have to over thing things in order to get it sold quickly for the correct price. No, if you over price your home it is not going to sell not matter what, at least not for the price you ask, but … [Read more...]

“Pitifully Low Inventory” Great News for L.A. Home Sellers

Los Angeles homes for sale needed desperately

An article in yesterday's Los Angeles Times talked about the "pitifully low inventory" in the Southern California real estate market. It also addressed the fact the prices are up and there are a lot of hungry buyers still out there. So, if you are thinking of selling your Los Angeles home, now is the perfect time.  There is no guarantee that prices will continue to rise or that the buyer pool will stick around much longer. Interest rates are still low but we don't know what's around the … [Read more...]

Should I Downsize my Los Angeles Home?

Downsizing your Los Angeles Home, Buying on the Wilshire Corridor, Buying a Century City Condo

You know the story. The kids are gone. You have more space than you could ever use. The maintenance of the home is becoming more than you can handle and you are thinking, "should I downsize my Los Angeles home?" You have decided that you are ready and are wondering how to proceed: Should I wait to sell my Los Angeles home? The good news is that any time you are thinking of selling your Los Angeles home is the right time, and now is a great time. Los Angeles is primarily in a sellers' … [Read more...]

If in Doubt, When Selling your Los Angeles Home Disclose All

Selling your L.A. home, disclose, disclose, disclose

When selling your Los Angeles home you are going to be faced with the responsibility of disclosing everything you know about your property. There is no question that you can hide certain matters for fear that it will affect the sale in some way. All will out in the end and you do not want to go through escrow and have the buyer walk, or worst case have to deal with a lawsuit. As a seller you will be required to fill out various documents a couple of which will ask you specific questions, the … [Read more...]

What is a Los Angeles Home Worth? Depends Which Corner You Are In

What is a Los Angeles home worth? Depends

What is a Los Angeles home worth?  Well that depends in which corner you are standing, the seller's, the buyer's or the lender's.  And the meaning of "worth" changes depending on your corner and the market in which you find yourself - a sellers' or a buyers'.  For the purpose of this discussion we will assume it is a balanced market with a note at the end of each section covering today's sellers' market. The Seller If you are considering selling your Los Angeles home may be thinking, "what … [Read more...]

10 Frequently Asked Los Angeles Home Seller Questions

Los Angeles homes for sale market report

You are thinking of selling your Los Angeles home and probably have many questions. Let's see if I can answer some of them: Q:  Can I sell my home on my own as a For Sale by Owner (FSBO)? A:  There is nothing to stop you doing this, but it is not recommended.  Around 80% of FSBO sellers end up using a Realtor?  Why?  Even in a sellers' market selling a home is more than just sticking a sign in the yard as is explained here. Q:  Do I have to use one agent to sell my home? A:  Yes. … [Read more...]

Los Angeles Home Sellers FAQ. What is an Exclusive Listing Agreement?

Buying a home in L.A. FAQ. What can I afford?

You are getting ready to sell your Los Angeles Home with the help of your Los Angeles Realtor®.  So what is involved in order to start the process? The first thing you will do is sign the Listing Agreement, which will be an Exclusive Listing Agreement.  What does this mean?  A sample of such an agreement is below: Item 1:  "Listing Period".  This is generally six months.  The period is negotiable and in a sellers' market your home is going to be sold very quickly, but six months is usually … [Read more...]

Should I Fix up my Los Angeles Home Before Selling?

Should I upgrade my Los Angeles home before selling?

I am frequently asked by prospective Los Angeles home sellers whether and what they should do to their home before putting it on the market. Should they upgrade the kitchen, put in hardwood flooring, tear off the 1960s wallpaper?  This applies to a home that has seen little in the way of upgrades over the years and is pretty much in original condition. My answer is generally to do the most they can for the least cost. It is so tempting to put in a nice new kitchen because it is really … [Read more...]

Selling Your Home in Los Angeles? How to Handle Those Multiple Offers

How to pick the right offer when selling your Los Angeles home

Thinking of selling your Los Angeles home?  Unless you have been under a rock you will know that now is a strong sellers' market.  Chances are if you put your home up for sale it is going to get offers almost immediately, more than one.  Of course you still need to list the property at or close to market price.  If you overprice it then it is still going to sit and you will end up getting less in the end. It should be a simple process to pick the successful buyer right?  Just choose the one … [Read more...]