Los Angeles Top Ten Neighborhoods for Home Sales This Year

Top selling Los Angeles neighborhoods

I you are thinking of buying or selling a home in Los Angeles it would be good to check in on sales and availability in some of the Los Angeles neighborhoods. What were the top selling neighborhoods so far this year: Single Family 1. Hollywood Hills West - Sold = 64 at a median price of $1,402,500 - Active Listings:  156 at a median price of $2,382.50. 2. Silver Lake | Echo Park - Sold = 44 at a median price of $762,000 - Active Listings:  37 at a median price of $695,000. 3. Palms | … [Read more...]

Is Now the Time for You to Sell Your Home and Buy the Next?

Is now the right time to well your Los Angeles home

The final decision to Refinance your existing Mortgage (or  not), should be based on one simple thing.  It must make good financial sense ...That decision is often times determined by the length of time you, as a Homeowner, "guesstimates" you'll own your loan (i.e., stay in your present home).  A good rule-of-thumb is that the monthly payment savings received through the Refinancing (at minimum), should "pay back" your Closing Costs for your Refinance. Similar (and additional) considerations … [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

Silicon Beach Los Angeles homes for slae

Silicon Valley is well know, 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, and Hulu have branched out into Silicon Beach, and Snapchat has its headquarters in Venice. With this kind of growth there would be a high demand for homes normally, and this is compounded by the severe shortage of … [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...]

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...]

When Selling Your Los Angeles Home Hold Your Agent Accountable

When selling your Los Angeles home set expectations with your Realtor

Selling your Los Angeles home is not just about hiring a real estate agent, having them put up a sign and then forgetting it.  If some home sellers new what went on in the background their hair might stand on end. Let's look at what you should be looking out for. When properties come on the market, unless otherwise requested by the seller, they must be entered into the Multiple Listing Service (MLS)  within 3 days of the date of  start of the listing, where other Realtors® and, through … [Read more...]

Los Angeles Home Sellers 55 and Over Check Out Props 60 and 90

Understanding Los Angeles property taxes

If you are a Los Angeles home seller over the age of 55 then you should familiarize yourself with Propositions 60 and 90. What are Propositions 60 and 90?  These Propositions allow California home sellers to transfer their property base to their new home which, if you have owned your current home for many years means big savings. Proposition 60 covers transfers within the same county and Proposition 90 between other participating counties. Property taxes in Los Angeles are around 1.25% of … [Read more...]

Selling a Los Angeles Home, it’s all About the Interest Rates

Mortgage Rates are Rising. Sell Before the Buyers are Gone

If you are a Los Angeles home seller and are waiting for prices to rise even more before thinking of putting your property on the market, think again.  Put yourself in the shoes to the Los Angeles home buyer. Interest rates have started to rise.  Rates have increased between 0.75% and 1.00% from their lows a few weeks ago. For example,  a 0.50% increase in rate equates to an increase in payments of $30 a month per $100,000 of loan amount, and a 1.00% increase equates an increase of $60 a … [Read more...]

Are you Waiting for the Right Time to Sell your Los Angeles Home?

Waiting to sell your Los Angeles home? The time is now

Every prospective home seller wants to to sell at the top of the market.  The same goes for every buyer.  They want to buy at the bottom of the market. Anyone who can predict the bottom or the top of the market with accuracy should be heading to Las Vegas. If you are waiting to sell your Los Angeles home, why are you waiting?  Because you are trying to time the next top of the market? If you don't have to sell, then you can afford to sit around and watch the market.  If you want to sell, … [Read more...]

Sellers, Sellers, Wherefore Art Thou Sellers?

Los Angeles home sellers, where are you?

We are heading towards a Shakespearean tragedy here, extreme shortage of inventory. The Los Angeles housing market is not going to recover if there is nothing for buyers to purchase.  Getting a loan is not a slam dunk, but mortgage rates are at an all time low and more than half of California home buyers can afford the median price in the state. So what is causing the anemic inventory? The expected shadow inventory of homes hasn't happened.  Less people are willing to short sell their … [Read more...]

Selling your Los Angeles Home Part 5. Prepare to Move

Prepare to move after selling your Los Angeles home

The last phase of the escrow process when selling your Los Angeles home, will be the signing of the grant deed, oh and of course, receiving your money.  All that is left for you to do is move. Hopefully, you will have made all the preparations in advance. Order all utilities to be shut off on the day of closing.  This will allow the buyer to transfer them into his or her name without them having to have the service reconnected. You will have everything packed and ready to go, and the … [Read more...]

Selling Your Los Angeles Home Part 4. The Escrow Process

Selling your Los Angeles Home: The escrow process

This is the fourth part of the series on Selling your Los Angeles home, in which we will go over what is involved in the escrow process. What is escrow?  Simply put, escrow is the handling of the contract by a neutral party which will ensure that the terms of the contract are met by both sides and all monies will be disbursed by them upon satisfactory fulfillment of the contract by both parties. What happens during the escrow period?  Below is an overview of what to expect during … [Read more...]

Selling a Home in Los Angeles Part 3: Handle the Offers

Selling your Los Angeles Home Part 3. Handle the offer.

Continuing on in the series Selling a home in Los Angeles, we will discuss the next phase which is when the offers start to come in. Hopefully you have priced your home to sell and will get interest quickly.  Today, homes are at a premium.  It is a sellers' market and buyers are looking for good properties.  You will likely get into a multiple offer situation.  Let's first talk about how to handle a single offer scenario. You will work with your Los Angeles Realtor® to determine the next … [Read more...]

Selling Your Home in Los Angeles Part 2: Get Ready to List

Selling a Los Angeles Home. Get Ready to List

You are in the process of selling your Los Angeles home and have hired your Los Angeles Realtor®, and you have signed the listing agreement.  What's next? Now you have to plan to put your home on the market. Pricing.  You will sit down with your Los Angeles Realtor®,  and decide on the right list price.  Your Realtor® will have provided you with sales comparables - similar homes in the area which have sold.  You may want to look at how the home was originally priced.  Maybe they priced it … [Read more...]