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...]

Selling your Los Angeles Home? What to Look for in an Agent

What to look for in a real estate agent

If you are thinking of selling your Los Angeles home, part of the process is finding an agent who is a good fit, both for you and the home itself.  After all, you are going to be in a fairly long-term relationship as far a business transactions go, so it needs to be the right one. In today's primarily sellers' market, selling your Los Angeles home would seem like a breeze.  It will sell itself, right!  Not necessarily.  You want to get the utmost exposure for the property followed by the best … [Read more...]

Los Angeles Real Estate | Where Have All The Houses Gone?

Where have all the houses gone?

This is a frustrating time if you are working in Los Angeles real estate.  And it is pretty much the same all over the country.  Sellers are holding back from putting their homes on the market. I presently have buyers looking in all ranges and the pickings are slim.   What is on the market has been on the market for a while, and anything that does come up doesn't stay on the market long. Los Angeles home sellers, don't be shy. I know you will get a lot of attention if you put your homes … [Read more...]

Selling Your Los Angeles Home? How do You Set a Price?

How should you price your Los Angeles home for sale

You are thinking of selling your Los Angeles home and have an idea in your head of the price.  After all you paid a certain amount for it and should be making a profit on it, or at least getting your money back out. And, this is how your see your home, after all it is your palace:   You should get your money back and more, right? Not necessarily.  If you bought at the height of the market, right now you would be selling at or near the bottom.  And even if you bought after prices … [Read more...]

Define a Los Angeles Real Estate Buyers’ or Sellers’ Market

Now is a Good Time to Buy

When buying or selling real estate in Los Angeles  we often talk about the market as being a buyers' or a sellers' market, based on the absorption rate. The absorption rate is the number of months it will take to sell the existing inventory based on prior months' sales.  6 months is a balanced market, under six months a sellers' market, and over six months a buyers' market. However the market is neither a buyers' or sellers' market if no one is buying or selling, and ultimately we rely on … [Read more...]

Los Angeles Real Estate is it a Sellers’ Market?

Now is the Time to Sell your Los Angeles Home, Los Angeles Real Estate

You are thinking of selling a Los Angeles home and are interested in finding out if your area is a seller's or buyers' market. Regardless of whether or not you are in a sellers' market look at the comps and price your home accordingly. As a Los Angeles home seller your Realtor® will check out the comps in your area and let you know where to price your home.  No matter whether a sellers' or a buyers' market you will need to price your home at or very near the market price.  If your home is … [Read more...]

Preparing Your Newport Beach Home to Sell | Managing Your Listing | Part 5

How to Prepare your Los Angeles Home to Sell

Sharon Paxson, my colleague, a Newport Beach Realtor has written a great series on selling your home.  Rather than reinvent the wheel, I am reposting the series here.  Everything of course applies to selling your Los Angeles home. You have prepared to sell your Los Angeles home to sell, and you have addressed deferred maintenance, made necessary repairs, you are thinking like a buyer, you have selected your Los Angeles Realtor, and this post will be addressing managing your listing. This is … [Read more...]

Thinking of Remodeling your Los Angeles Home? What Should you Concentrate On?

You are thinking for remodeling your Los Angeles home but don't quite know what to do that will get you the best bang for your buck.  Houselogic.com recently put together a list of 7 remodeling projects that make the most sense. So what do they think are the most important? Value Siding Vinyl siding is inexpensive, durable and easy to install.  One would think it might look cheap, but it comes in many colors and varieties, including having a foam backing which helps with … [Read more...]

Carbon Monoxide Detectors Mandatory in Los Angeles Homes as of July 1, 2011

California Senate Bill 183 Carbon Monoxide Detectors

Just so that everyone has a clear understanding - California Senate Bill 183 was signed into law to regulate the installation of carbon monoxide detectors. The law is a two-part law that requires an update to the Transfer Disclosure Statements used in a real estate transaction, and puts into law the Carbon Monoxide Poisoning Prevention Act of 2010. The first part of the new law requires that as of July 1, 2011, Transfer Disclosure Statements (TDS forms) include a line item regarding the … [Read more...]

Choosing a Los Angeles Realtor? Make Sure they Represent your Interests Well

Choosing a Los Angeles Realtor®, How to Hire a Los Angeles Realtor®

You have decided you are selling your Los Angeles home and are starting the process of hiring a Realtor®.  This is the start of what is going to be a long relationship and you need to choose carefully. How do you choose a Los Angeles Realtor®? I think the same way you choose your friends.  Someone you relate to.  Someone with whom you are comfortable. Someone who is going to work towards the ultimate goal, selling your home. As a Los Angeles Realtor® with a buyer I get to meet your choice.  … [Read more...]