LA county home sale transactions are down, prices are up

In Los Angeles County, the median home price rose 3.8% to $630,000, while sales dropped 35.2%.

I suspect transactions are down because a good chunk of sellers took their properties off the market.

Fewer homes on the market obviously mean fewer homes can be sold.

The homeowners that did keep their home on the market are not experiencing price drops... it's actually the opposite.

Home prices continued to see marginal gains from a year earlier.

If you are waiting for a market crash, don't hold your breath.

Attention Saugus home buyers!

Just Listed! www.CacerasStreet.com more info.

Offered at: $549,000

Saugus home buyers! Here is your chance to own an incredible single-story, 3-bedroom 2-bath, move-in ready property.

This beautiful home is bright and spacious. The living room is open to the recently remodeled kitchen and overlooks one of the quietest and private backyards you will see on the market. You will absolutely love the master bedroom with its own attached master bath.

Other features include stainless steel appliances and quartz countertops in the kitchen, full copper plumbing, central A/C & heat, newer electrical panel, dual paned windows throughout, 2 car attached garage with an extra-large laundry area (washer and dryer included), covered patio with outdoor lighting, fruit trees (oranges, apricot, peach, pomegranate), and it’s all within walking distance to Highlands Elementary School and the very fun Central Park where you will find a kids playground, dog park, and basketball courts.

So if you are looking for a move-in ready home, with an ultra-private backyard, at a great value, this just might be the home for you.

Pictures have been virtually staged.

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.

Can I submit multiple offers after homeowner rejects my first?

If your initial offer gets rejected by the seller, don't be afraid to submit a new offer.

However, you have to improve either the terms of the deal or the price.

Find out what specifically the seller didn't like about your first offer and change that in your new offer.

For example, maybe the seller liked everything about your offer, but they hated that you wanted 17 days to inspect their home.

Bring that 17 days down to 10 days... maybe that one change will work for the seller and would open up the possibility of you getting an accepted offer.

Episode 37 of The #AskDanielLosAngeles Show

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

1) My low ball offer was flat out rejected by the home seller. Can I still submit a new offer?

2) Are real estate taxes included with my monthly mortgage payment?

3) What is the difference between a list price and sale price?

4) The buyer for my home is not removing their inspection contingency. Can I cancel the deal?

We have over 20,000 followers on Instagram... come join us!

Your friend needs to get ready now for the home buying surge

Home buying demand has gone down during the stay-at-home order. Instead of 6 offers on a property, sellers are getting 1 or 2.

But the local news is starting to sound a bit more optimistic and there seems to be a light at the end of the tunnel.

In a few short weeks, I believe a buyer surge is coming.

Your friend who mentioned to you that they are thinking of selling their home should start preparing now for that buyer wave. I can help your friend prepare for the sale of their home.

We can immediately work on figuring out what makes their home so special, the properties unique selling proposition, and who the ideal buyer for the property will be. We can hire a professional photographer and videographer. We can also start running an aggressive pre market social media campaign.

However, I need your help to make this happen.

Tell your friend that you know a awesome real estate agent that can help them out. Give them my cell number, 818-445-7953, and have them text me. I'll take it from there.

My team and I are ready for the surge and can't wait to dominate the real estate market!

You can NOW fix and flip this home in Pasadena. Put in an offer NOW!

Let's put in a low ball offer!

Asking price is $525,000.

This is the cheapest home to sell this week in Studio City

Asking price $1,289,000 sold price $1,265,000

Do you think the back yard is big enough?

See Burbank's newest home to hit the market during the Coronavirus pandemic!

Here is your latest Burbank hills listing.... Asking price is $1,349,000.

Home selling strategy during this pandemic

The stay-at-home order has been extended to 5/15/20😩.

Use this time to strategize and prepare for the sale of your home.

Once the order is lifted, I believe there will be a buying frenzy!

Burbank has had 14 property sales so far in the month of April

From 02/01/20 - 02/16/20, more than a month before the stay-at-home order was put into effect, Burbank had 18 property sales.

This data shows that sales haven't slowed that much in Burbank.