L.A. real estate news and insights.
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.
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?
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.
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?
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?
Sold this piece of land for $1,077,000. Another off-market deal.😉
11853 Weir St., Culver City, CA 90230
3,950 Sq. Ft. | Vacant Lot
The 2019 Realtor Confidence Index Survey says 74% of home purchasing contracts contain contingencies, with the most common ones pertaining to home inspections, getting a acceptable appraisal, and obtaining a loan.
That means 26% of buyer home purchasing contracts do not contain any contingencies at all.
Sellers LOVE non-contingent offers.
That means that if the buyer backs out of the deal, for whatever reason, the buyer could lose their deposit to the seller (usually 3% of the purchase price).
Wouldn't you find a non-contingent offer appealing if you were selling your home?
California saw a 3.1% uptick in pending home sales in August, an increase of 8% from a year ago.
Economists say home sales are forecasted to rise in the coming months and into 2020.
I think their prediction will be correct!
Let's say an unexpected emergency comes up and you, the seller, must now stay at your property longer than what you agreed to when you initially accepted the buyer's offer to purchase your home.
You and the buyer, during escrow, can make an amendment to the contract to change the day when you hand over possession of your home.
As long as it's put in writing in a amendment and signed off on by all parties involved, possession of the property can change hands on whatever day everyone agrees to.
You officially become the owner of the home once recording takes place.
Recording, AKA having the title of the property put in the new buyer's name, can happen any time between 8am-6pm.
You are not allowed to have the keys to the property before recording has taken place (unless the owner has given permission).
I understand that you are upset that you received a low ball offer on your house... but now is not the time to get emotional about it.
The last thing you want to do is get ticked off and refuse to respond to the low ball offer.
The good news is that the hardest part is done... you found someone who is interested in your home.
What you need to do now is clean up the terms of their offer, and isolate the price issue.
For example, if they have a 21 day loan contingency, counter them at 18 days. If they have a 17 day inspection contingency, counter them at 10 days.
Clean up all those bad terms and isolate just the price. Counter them at full asking price if you want.
By doing this, when they counter you back, they have accepted your revised terms of the offer, and you are now only focusing on price... nothing else.
At this point, your agent has to do a good job of negotiating and bringing the buyer up.
You would be amazed at how many buyers I have dealt with that are just bluffing. They love the house and eventually come up in their purchase price.
Stick with them, because after all, they have shown an interest in your home.
On this episode, I answer the following 4 real estate questions:
1) How is the housing market going to be in 2019?
2) We just accepted an offer from a lovely couple to buy our house. What happens now?
3) Daniel, I am a real estate agent and I currently have 3 homes listed. They've been on the market for many months, in fact, I lowered the price on 2 of them… what's your secret to selling?
4) What is a statewide buyer and seller advisory?
We have over 16,000 followers on Instagram... come join us! @DanielLosAngeles
If you are selling your home, typically you will pay your agents commission AND the buyers agents commission.
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In this situation, the buyers do not pay a dime towards commissions.
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Keep this in mind when preparing to sell your home.
Save the time stamps for your personal family pictures... and not when trying to sell the most expensive item you personally own (your home).
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If your agent leaves a time stamp at the bottom of your properties marketing pictures, not only is it unprofessional, its lazy.
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Call your agent out on it!
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Happy Mother's Day!
You will have less agents showing your home if you have this contingency.
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Most agents want to get paid now and they don't want to wait around for you to find your next home.
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Less agents showing your home means less of a chance of a bidding war... and that means less money for you.
