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...]

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...]

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...]

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...]

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...]

Recently Sold Homes in Los Angeles

Recent Home sales in Los Angeles

If you are thinking of buying a Los Angeles home, and certainly if you are thinking of selling a Los Angeles home you are going to be interested in recent home sales. Check out sales over the past three months.   Get help with your … [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...]