Here is what my wonderful clients/friends had to say about their home buying experience

Thank you for entrusting me with the biggest purchase of your life (so far) 😁.#repost from @lauran.mn

Home. 🏡

So many feelings. Thankful. Proud. Sad. Excited. We are so thankful for this opportunity in spite of what’s going on in the world right now. Proud because all of our hard work has come to fruition. Sad we’ll be leaving our cozy little apartment and the city we’ve called home for the past 5 years. Excited that we have a new, bigger place to create more memories in as a family. ✨

Also, decided it was probably time to upgrade since we’ll be sheltering in place for who knows how long. All of this could not have happened so quickly and so smoothly without our realtor, @daniellosangeles (Daniel Madariaga). Anyone in need of a realtor should def hit him up.

When to use 'Notice To Perform' and how does it work?

Home sellers do not have many options when it comes to canceling an escrow.

For example, you can't cancel an existing escrow if you find another buyer willing to pay more money for your home or if you simply change your mind about selling.

Once you are under contract with a buyer, you are basically stuck.

However, you can get out of escrow if the buyer refuses to perform.

So if the buyer refuses to remove their inspection contingency, give them the notice to perform.

If they still don't remove that contingency, then you have the right to cancel the deal.

Burbank has had 13 property sales so far in the month of May

There were 34 property sales in Burbank for the same dates last year, 5/1/19 - 5/16/19.

The Secret of List Price vs Sale Price

There is no rule on what the list price of your home should be.

You can literally put the list price at $1.

I don't recommend doing that because you will get 1,000 offers and you will have to sort through them all to see who the real buyers are.

What can you do to find out if property tax is included in your monthly mortgage, RIGHT NOW?!

An impound account is an account maintained by the mortgage company to collect insurance and tax payments that are necessary for you to keep your home but are not technically part of the mortgage.

Some lenders require this, other lenders don't.

Check with the lender to see what their policies are before choosing to work with them.

Episode 32 of The #AskDanielLosAngeles Show

On this episode, I answer the following four real estate questions:

1) When applying for a mortgage, I've heard that applying for other types of credit before the mortgage is finalized can hurt your credit. Is this true?

2) We are already in escrow to sell my home, but I'm now having second thoughts on selling. How can I back out of the deal?

3) I recently went to get pre-approved for a home loan. The lender said he can't get me a loan because my credit score is too low. How can I raise my score?

4) My agent is having a hard time selling my home. I just don't think he is the right person for the job. What is the process to fire him?

We have almost 20,000 followers on Instagram... join us! @DanielLosAngeles

Burbank's cheapest price per square foot home

The price per square foot on this home is $460.40.

This is currently the cheapest price per square foot home for sale in Burbank.

The Beverly Hillbillies mansion sells for $150 MM

The Bel Air mansion that played the Clampett’s Beverly Hills home in the 1960s television show, The Beverly Hillbillies, just sold for a reported $150 million—a record-setting price not only for Los Angeles but California.

The buyer is Lachlan Murdoch, American Media Mogul, Rupert Murdoch’s son.

The main house measures roughly 25,000 square feet.

The lot size is approximately 10 acres.

There is a 75-foot pool and a 12,000 bottle wine cellar!

What an awesome property!

For sale home inventory has gone down 11.2%

The shortage of homes that are for sale in Los Angeles is accelerating.

Inventories in November dropped 11.2% annually.

This comes at a time when low-interest rates are increasing buyer demand.

The housing shortage is felt most at the entry-level of the market.

Traditionally, housing inventory goes down in the 4th quarter of the year... but 11.2% is a big drop.

Inventory should pick up slightly in the first quarter of 2020.

Do I need to hire a professional cleaning company before moving out?

Was your home professionally cleaned just hours before you officially accepted a buyers offer on your home?

If so, make sure to get your home professionally cleaned right before you deliver your sold home to that new buyer.

Was your home in need of a deep clean at the time the buyer’s offer was accepted? Good!

No need to get a professional cleaning company to come out and clean the home.

The point here is to deliver the home to the buyer in substantially the same condition that it was in when you accepted the buyer’s offer to purchase your home.

Keep your home in the same condition throughout escrow

When selling your home, the purchase contract says that throughout the escrow process, the home has to be "maintained in substantially the same condition as on the date of acceptance.”

That means whatever condition the home was in at the time the buyer’s offer was accepted, good or bad, is how the home should stay throughout escrow and is how the property should be delivered to the buyer.

There is no need to go above and beyond when it comes to cleaning the home before moving out.

Although getting the home professionally cleaned before vacating is a nice gesture to the buyer, simply keeping it in the same condition that it was in when the home went into escrow is good enough

Which month is better to put a home up for sale: Jan. or Feb.

This home buyer pattern happens every single year.

Buyers stop their home search in December and pick it back up again in January.

To get top dollar for your home, take advantage of this rough data and choose to list your home for sale in January instead of February.

More buyers on the market lead to more competition.

If your home is priced right, that will lead to multiple offers for your property.