It would mean the world to me if you referred me to a friend, co-worker, or neighbor that you think is getting ready to sell their property in 2022.
Text me anytime at 818-445-7953. Thanks!
Should I put an offer on a home during the pandemic?
During the stay-at-home order, take advantage of less buyer competition and sellers that are willing to negotiate.
Once the order is lifted, I believe bidding wars will come back and sellers will once again be fully in control.
Get a good deal on a home that listed after 3/20/20
Look at listings that hit the market after the stay-at-home order was put into effect.
Use date 3/20/20 and after.
These home sellers were fully aware when they put their home on the market that the stay-at-home order was in full swing, and they decided to put their home on the market anyway.
This tells me that these homeowners need to sell, are highly motivated, and are ready to negotiate.
If you have been facing bidding wars over the last year... if you are tired of putting in offers over the asking price... now is the time to strike!
Once the order is lifted, I believe the bidding wars will start again and the sellers will be back in full control.
Home prices lower because of the Corona virus?
Some home sellers want to get the deal done and are flexible on their selling price. However, the majority of home sellers are not so flexible.
What I am seeing, based on my own research on the MLS, is that there have been several escrows that have been canceled ever since the stay-at-home order has been issued.
The owners of those homes have either chosen to put their properties back on the market, with the same asking price or have chosen to put their listing on "hold - do not show" status.
Housing data from the National Association of Realtors tend to run about a month behind. Therefore, I expect to get some hard data from them on how today's home prices are currently being affected around May 2020.
Episode 36 of The #AskDanielLosAngeles Show
On this episode, I answer the following four real estate questions:
1) Are home prices lower right now because of the coronavirus pandemic?
2) Should I submit an offer on a home during the pandemic?
3) Will future home prices fall because of the pandemic?
4) What should be my home selling strategy during this pandemic?
We have over 20,000 followers on Instagram... come join us!
Realtors can show properties again
Residential real estate has now joined the list of essential services during the coronavirus crisis.
Agents can now resume showing property, do property inspections, take listing appointments, etc.
These activities must be done in conformity with current health guidelines. Real estate licensees must follow all CDC and local health mandates.
In addition, no open houses should be held and showings should be done virtually, if at all possible.
90-day pause on your mortgage payments
Four of the five largest banks in the U.S. have agreed to let California residents skip mortgage payments for 90 days if they have lost their jobs or are struggling financially due to the coronavirus pandemic.
JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with about 200 state-chartered banks and credit unions, voluntarily agreed to waive mortgage payments for California residents who are having trouble paying bills because of the COVID-19 outbreak.
Bank of America has also agreed to waive payments, but only for 30 days👎.
Your mortgage company will not automatically set you up with this plan. You have to call them to sign up!
Real Estate is on hold right now
You can still submit an offer on a property right now, but if your offer gets accepted, you can't do any inspections 😕
Check the neighborhood noise level before buying a home
Before buying a home, check out how noisy a neighborhood it is.
During escrow, the seller will give you a disclosure letting you know that some levels of noise may be acceptable to some, and not to others.
They want you to do your own inspections and satisfy yourself that the noise level is not going to bother you.
If you sign that disclosure paperwork, the seller is protected from you coming back and suing them stating that you never told them about the excessive noise levels of the neighborhood.
Here's how you can raise your credit score...
One way to raise your credit score is to fix any incorrect delinquencies you see on your credit report.
After you get a copy of your credit report in hand, scan the report for any mistakes.
You may see a certain bill that you paid off 5 years ago is still showing up on your credit report as delinquent and not paid off.
Call that company up and tell them that you already paid that bill 5 years ago and that you want them to report back to all 3 credit bureaus that the bill has been paid off in full.
Be prepared to provide them proof that you paid off that bill if they dispute they received payment.
Do that same procedure for every single incorrect delinquency that has been reported.
Yes, this is a huge pain, but once done you will see your credit score improve over time.
My client did this exact process and raised their credit score about 100 points in 6 months.
Best of all, it's free! But it takes time.
Referrals needed!
All I need is a 15 minute sit down meeting with your friend to show them what I do to sell homes.
I guarantee they have NEVER seen a home selling marketing strategy like mine.
Text me: 818-445-7953
Virtual staging is better than showing an empty room
If you are getting ready to sell your property, you should consider staging your home.
That is when a home stager comes in and furnishes your house with modern, new, clean furniture. It makes your home look like a model home.
The problem with staging is that it costs money. The minimum cost will be around $3k.
If you refuse to do that, you should consider virtual staging.
This is where you take a picture of an empty room in your house, then a graphic designer edits the picture and ads computer-generated furniture.
In most cases, your marketing pictures will end up looking great.
You will definitely get a lot of attention to your online listing and will bring people in to see your home.
The problem arises when the buyer shows up to tour the home.
They came to see a beautiful model looking home and they end up taking a tour of a bunch of empty rooms.
This is not the ideal situation to put a buyer in.
But, virtually staged photos are better than showing a vacant room or a room filled with furniture from the 1980's.
Text 818-445-7953 to find out how I sell homes differently
My 72 Hour Home Selling program will get you top dollar for your home in a very short amount of time. Text me to find out how it works. Thanks! 818-445-7953
