Buyer’s remorse is rampant among pandemic purchasers

A large crop of unhappy homeowners is emerging after having time to settle with their hasty pandemic purchase in the last couple of years.

Buyers at the time were bidding up home prices to beat out fierce competition, and many waived the home inspection or appraisal to get the house they wanted.

But now they may regret the extremes they went to for a home: More than three-fourths of U.S. homeowners who purchased in the prior year expressed regret about their decision, according to an October survey from Hippo, a home insurance group.

The top reasons for their regret are:

-I spent too much: 30%

-I bought too quickly: 26%

-My home requires too much maintenance: 25%

-I bought a fixer-upper: 24%

-I was pressured to make an offer: 21%

-I bought sight-unseen: 17%

-I don't like my home's location: 15%

-I don't like my neighbors: 15%

-I don't like my home: 13%

This survey was conducted by Kickstand Communications on behalf of Hippo Insurance Services. Fielded between October 22-28, 2022, the results are based on 1,002 respondents.

Sharp turnaround in the housing market. Here's how one home seller is handling it!

Just met a woman a few days ago at a business event, and we immediately began talking about real estate. She mentioned she had put her home on the market a few weeks ago. During the first week on the market, she had little activity and no offers. Anyone following the real estate market knows it has been red hot, so this had come as a surprise to her. She said that higher interest rates, inflation, the stock market being down, and the crypto market crashing all played a big part in why her home was not getting the attention she was anticipating. Therefore, she dropped her asking price by $100,000. She eventually got a couple of offers and closed escrow on her property for lower than she had hoped for.

She kept saying how grateful she was for getting the selling price she got. I thought to myself she dropped her price $100K, how could she still be grateful? She said she was grateful because her home's value had increased 20% over the last 12 months. She said she didn't get the absolute peak of the market of 20% profits, but she got 15% profits. She was thrilled that her home's value went up 15%, was able to make some money, and move on to the next chapter of her life.

My new friend makes a very good point. Would you be happy if I told you that your home's value would go up 15% in one year? Of course you would! So forget about what you could have sold your home for last month and look at the huge profits you could still get today.

Enjoy these profits while you can, because by the looks of things, the housing market is in for a major shift.

I have an off-market condo for sale in WeHo! This penthouse has sweet views!

Off-market property in West Hollywood.

This Penthouse Condo has 2 bed/3 bath, over 1,500 sq. ft. of living space, and a huge rooftop deck.

There is an indoor/outdoor living experience with private outdoor spaces with panoramic views.

The building amenities include two side-by-side parking spaces, storage, and a community pool.

Text me for a private showing at 818-445-7953.

Here is another Valley Village off-market property available! This one has a pool!

Off-market property available in Valley Village.

This home has 4 bed/3 bath, over 2,000 sq. ft. of living space, and the lot is well over 7,000 sq. ft.

The home features an open floor plan, a large fireplace in the living room, recessed lighting throughout, lots of storage space, and solid mahogany wood floors.

The backyard has a covered patio, a swimming pool heated by solar panels, and the garage has great ADU potential.

Text me for a private showing at 818-445-7953.

Contact me ASAP about my current off-market property in Valley Village!

Off-market property in Valley Village.

This gated 2-story home has 6 bed/4 bath, 3,200 sq. ft. of living space, and is on a 6,674 sq. ft. lot.

The home features a built-in home sound system, stainless steel appliances in the kitchen, and a guest room and full-size bath on the 1st floor that can easily become an in-law suite.

The private backyard has a patio with a pergola and a flat yard with fruit trees.

Text me for a private showing at 818-445-7953.

My hottest off market property will keep you cool in the pool during the summer months!

Text me for more info at 818-445-7953.

Off-market property in Chatsworth. You won't find this info anywhere else.

This remodeled home has 4 bed/3 bath, 2,997 sq. ft. of living space, and is on a 10,237 sq. ft. lot.

The garage has been converted into a junior ADU with a separate entrance and its own address.

The backyard has a covered patio with an outdoor kitchen, built-in BBQ, pool, above-ground jacuzzi spa, dog run, outdoor half bathroom & owned solar panels.

Bob Hope's former Toluca Lake Estate is for sale NOW!

Text me if you want a tour at 818-445-7953.

Billionaire Ron Burkle lists Bob Hope’s former estate in Toluca Lake.

This property has 10 bed/17 bath and is on a 5-acre lot.

There is a main house, an apartment above the garage, and staff quarters.

The property includes a tennis pavilion, golf course, home theater, a gym, a security office, a saltwater pool, and a large outdoor BBQ kitchen.

Most expensive home for sale this week in Valley Village! Pricey but worth it!

This is the most expensive home for sale this week in Valley Village.

Asking price: $3,195,000

This newer construction home has 5 bed/6 bath, 3,495 sq. ft. of living space, and is on a 6,429 sq. ft. lot.

The home features an open concept floor plan with indoor/outdoor living, and the solar panels are owned.

The backyard has a large, covered patio, grassy area, BBQ area, and a large heated pool with a jacuzzi.

Text me if you want a tour at 818-445-7953.

Look at this Altadena home. It sold for the asking price! No more... no less.

Here is the cheapest home sold this week in Altadena.

Asking price: $1,100,000

Selling price: $1,100,000

This vintage farm-home style property has 4 bed/2 bath, 2,390 sq. ft. of living space, and is on a 16,777 sq. ft. lot.

Are you surprised it didn't sell over the asking price?

Foreclosures represent less than 1% of sales

Foreclosures and short sales remain historically low, representing less than 1% of home sales in April and down from 2% a year earlier.

Source: National Association of REALTORS®

Here's my newest LA off-market condo! Make it yours - ACT NOW!

Text me for more info at 818-445-7953.

Off-market property in Los Angeles.

This condo has 1,092 sq. ft. of living space, stainless steel appliances, a fireplace in the large living room, and an in-unit washer and dryer.

Building amenities: pool, spa, gym, sauna, community room, and gated underground parking.

Have a look at this week's cheapest sold condo in Los Angeles!

Here is the cheapest condo sold this week in LA.

Asking price: $299,000

Selling price: $290,000

This 2nd-floor studio has 0 bed/1 bath, and 450 sq. ft. of living space.

The unit has a murphy bed, kitchen, breakfast area, and full bathroom.

The building amenities include a rec room, laundry room, and gym.

Do you think a studio condo is a good investment?

15% of home sellers have cut their prices in April

This is down from 9% last year, signaling a cooling in the real estate market. Do you think it will be 25% by the end of June?

Well, I declare this Toluca Lake home is "Pretty as a Peach"!

This is the most expensive home for sale this week in Toluca Lake.

Asking price: $6,275,000

This Southern Classic home has 4 bed/5 bath, 7,397 sq. ft. of living space, and is on a 21,144 sq. ft. lot.

There is a pool/spa and built-in BBQ in the backyard.

Text me if you want a tour at 818-445-7953.

Active on the market for 335 days...why isn't this house selling?!

Here is the longest active home on the market in Valencia... 335 days!

Asking price: $2,999,950

This French Country style home has 6 bed/6 bath, 5,560 sq. ft. of living space, & is on a 16,327 sq. ft. lot.

The home features a library, designer kitchen, butler’s pantry, smart house wiring, 2 staircases, and mountain/golf course views.

Text me if you want a tour at 818-445-7953.