The "Earthquake House" is for sale!
The home is built on visco-damper base isolators and has a steel structural framework to protect against earthquakes.
Asking price: $2,895,000
Text me if you want a tour: 818-445-7953.
When are home sales the slowest?
Although right now is typically a slow period in real estate, I am predicting a hot real estate market for the 4th quarter of 2019.
The reason is that buyers have been experiencing heavy competition for the last several months, have had their offers rejected, but are still very motivated to buy a home.
All those buyers that have not had any luck lately will be hungry and ready to pounce on any new listings that come up.
That should make for an interesting end to the year.
Home sales are the slowest in the 4th quarter
The 4th quarter of the year (October, November, December) is usually when home sales are the slowest.
The reason is that everyone is busy with the holidays that come up during those months.
A buyer may put their home search on hold because they are having their family stay at their home for #Thanksgiving.
Or maybe it's more important to a home buyer to go to all the holiday parties instead of focusing on finding a home.
No matter what the reason is, the 4th quarter is typically the slowest time of the year in real estate.
Having said that, the real motivated buyers and sellers are still out there trying to make a deal happen.
Some of the best deals I have seen have gone down during the holiday season.
Episode 30 of The #AskDanielLosAngeles Show
On this episode, I answer the following four real estate questions:
1) At what point during the year are home sales usually the slowest?
2) Now that we found a buyer for my home and we are in escrow, is it safe for us to start moving out?
3) A lot of the homes I am touring are selling for more than the list price. How am I supposed to buy a property if everything I am interested in keeps selling over the asking price?
4) I do not want to spend a dime on staging my home. What other options are out there to make my home look more attractive to buyers?
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Homeowners are feeling, "house rich, cash poor"
One in five U.S. homeowners say they feel house rich but cash poor, according to the newly released Hometap Homeownership Study.
With home prices continuing to climb up, nearly 20% of 675 homeowners surveyed classify themselves as feeling “house rich, cash poor” most of the time, according to the study produced by Hometap.
Seventy-three percent of respondents say they feel “house rich, cash poor” at least some of the time.
I bet if they surveyed renters they would find similar numbers.
I believe we all face similar challenges.
After all, I think being worried about how you are going to provide shelter and food for your family is a feeling all humans have had since the cavemen times. @hometap_
Never ignore a low ball offer.
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.
Episode 20 The #AskDanielLosAngeles Show
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?
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The home owner usually pays the commissions for all agents involved
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.
Remove all time stamps from your homes marketing pictures
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!
If you want top dollar, don't make your home sale contingent upon you finding a replacement property
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.
The market could be preventing you from buying a home
If you are not able to find a home to purchase... your not alone.
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The San Fernando Valley has recently had record low inventory. That means there are very few homes for sale!
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Because there are so many buyers out there, it is hard to outwork the competition.
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Here are a couple of ways to get your offer accepted:
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Have a big down payment... 20% is average these day.
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lower you inspection periods. You don't need 17 days to do an inspection. Get it done in 7.
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Write a personal letter to the seller. Most buyers don't do this. Be different.
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Stay optimistic. You will find a home.
Episode 3 of The #AskDanielLosAngeles Show
In this episode of The #AskDanielLosAngeles Show, I answer the following real estate questions:
-So far we have put in 2 offers, and they both got rejected. We really want to buy a house in Burbank but nothing seems to be working out for us. What are we doing wrong?
-I'm ready to buy a home. What is the first step I should take?
-Who pays for the appraisal? Is it the seller or the buyer?
-When you get multiple offers on a property you are selling, how do you decide which offer to pick?
How can you consistently be in front of relevant potential buyers for your home?
How can you consistently be in front of relevant potential buyers for your home?
Retargeting is key.
Once someone views your marketing video on Instagram or Facebook, you can retarget them using Facebook's retargeting tools.
You know they are interested because they viewed the video once, therefore, you should constantly market to them until the home sells.
Say what is unique about your home and push that to sell for top dollar
Your home has something unique about it.
It may be hard to find sometimes... buts it's there.
Once you get it, push that to the buyers and watch it sell for top dollar!