L.A. real estate news and insights.
Would you like to have the whole 2nd floor of your home dedicated entirely to your master suite?
This Hollywood Hills retreat is the most expensive home to sell this week in Los Angeles.
•5 bedrooms
•5 bathrooms
•5,696 sq. ft. of living space
•41,010 sq. ft. lot
•Gated compound
•Guest house
•Pool
Asking price: $6,500,000
Selling price: $6,125,000
At tonight's New Year’s Eve party, while you are with your friends and family, I need you to do a little spying for me.
Someone at the party is going to bring up the topic of real estate.
They are going to say that they are thinking about selling their home in 2020.
I know you will be drinking a lot... but try to remember the person who said that.
Then, text me and say "Daniel, I have a friend looking to sell". I'll take it from there. 😉
My goal for 2020 is to help as many people as possible sell their property.
To do that, I really need your help investigating and letting me know which of your friends and family members are thinking about selling.
Thank you for all your help in 2019 and thank you in advance for all your upcoming help in the new year!
Happy New Year!!!
You want to keep your finances exactly how they are at the time your lender pre-approves you for a home loan.
Don't do anything financially out of the norm for you.
Don't buy a new car.
Don't go on any lavish trips.
Don't buy a #Rolex.
Keep paying your bills, keep making your car payments, keep buying food at the market.
We are hiring a real estate agent assistant/project manager!
For more info visit https://contemporealtors.squarespace.com/hiring
Thanks!
Your home buyer can back out from purchasing your property by utilizing their loan contingency.
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What that means is that if the buyer cannot get a loan, they can back out and still get their deposit back.
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However, this has to be done during the loan contingency period. Loan contingencies are usually 21 days long and start when you have an executed purchase contract.
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If the buyer releases their loan contingency on day 21, they can no longer back out of the deal because of their loan contingency.
Mortgage brokers may be able to provide you with more home loan options over a traditional bank.
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I suggest you get approved with a traditional bank and a mortgage broker at the same time.
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Compare the interest rates and fees both lenders are charging you... then choose to work with one or the other.
Expect your seller closing costs to be 6%-7% of the sales price of the home.
Don't worry buyers, you have your own closing costs you need to stress out over 😐
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A verbal offer makes you feel good inside because it proves to you that someone out there loves your home.
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The truth is that a verbal offer means NOTHING... its garbage.
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If they really like the property, tell them to put it in writing. Once they do, NOW you have a series buyer.
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I can't tell you how much time in the early days of my career I spent with "buyers" and their verbal offers.
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Don't fall for it. Get it in writing.
On this episode of The #AskDanielLosAngeles Show, I answer the following 4 real estate questions:
1) I got a verbal offer for my house. Whats the next step?
2) What does retrofitting a home mean?
3) We are going to start looking for houses. Whats the process in terms of pre approval? Should we get approved for the loan first or pick out a couple houses we like and then get the pre approval?
4) I want my condo available to buyers who need to get a FHA loan. How do I do that?
We have over 12,000 followers on Instagram... come join us! @DanielLosAngeles
Would you inherit and throw away the sellers junk in order to get a good deal on a house? . Leave your thoughts in the comment section.
You should "run the comps" yourself before calling a real estate agent to do a walk-through of your house.
That way you will be able to tell if the agent knows what they are talking about or not.
If I have brought you any value through my content, please take the time to give my your thoughts. Insights@ContempoRealtors.com
Thank you!
In episode 13 of The #AskDanielLosAngeles Show, I answer the following 4 real estate questions:
1) I believe the buyer for my home can back out if they can't get a loan. How can I avoid this from happening?
2) My credit score is pretty low. How can I raise it?
3) My home is on the market and we are getting a lot of showings, but no offers. What's up with that?
4) Is being a real estate agent hard? I might get my license soon.
Text me any real estate questions you may have at 818-445-7953 and I will answer it on the show!
Sell your home to Zillow or any single person without putting it on the market for everyone to see it, and leave money on the table. Period.
😲Zillow has admitted that their offers are slightly below market value... I have seen that they are about 10% lower.
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After all, they have to make a profit, right?
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Put your home on the market so that everyone knows it's for sale.
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Get multiple offers and drive the purchase price higher and higher.
