3% of sellers have recently canceled their listing

I'm not seeing a panic with home sellers over the #coronavirus.

Only 3% of sellers nationwide have decided to remove their home from the market and cancel their listing.

I bet most of these homeowners that canceled decided to refi at historic lows rather than sell.

I'm sure some canceled over corona fears.

I would assume that during regular times, cancellations hover around the 1% - 2% range. Inventory of for-sale homes is still low, but over the next few weeks, you can take advantage of lower buyer competition over corona fears.

Pharrell Williams home for sale at $17 MM

#PharrellWilliams has put his #BeverlyHills mansion on the market for $17,000,000.

The home is 17,000 sq ft and sits on an impressive 4-acre lot.

This giant home has 10 bedrooms and 11 bathrooms.

Outside there are gardens, koi ponds, and a resort-like pool with waterfall and grotto.

Multiple sport courts, rock sculptures, and also a 30+ car motor court.

Let me know if you want to buy it.

Housing inventory has gone down 21.8% in LA

Over the last 12 months, housing inventory has gone down 21.8% in the Los Angeles area.

That means there are a lot fewer homes for sale now then there was a year ago.

I expect this trend to continue because low-interest rates will cause there to be an even stronger than usual buyer demand this #Spring.

Do a 1 day listing agreement to sell your home

When you list your home for sale with an agent, the first thing you need to do is determine how long you are going to give that agent an opportunity to sell your home.

The length of time is determined by you and the agent.

Nothing is set in stone.

You can do a year, 6 months (this is average), you can even do a 1-day listing agreement.

I have done plenty of 1 day listing agreements.

I use that when I want to show a home 1 time to 1 of my buyers.

Can you accept a Rolex as a deposit?

If the buyer refuses to send cash as their deposit, find another buyer.

Remember, the deposit is sent over within the first 3 days of opening escrow.

If the buyer is this difficult to work with just 3 days in, imagine how hard it will be for the rest of the 30 day escrow period.