Should You Make an Offer on an Unlisted Home In SoCal?

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Have you or anyone you know in Southern California ever been approached by an agent about your home when it wasn’t even listed? Would you know what to do?

I recently read an article relevant to buyers and sellers in our area, particularly offering advice on what to do in this situation. Why does this happen? Well, when inventory is low, buyers need to get creative with ways to shop. Sometimes aggressive buyers will approach unlisted homes and hope for the best.

Follow up with the buyer! Listen to their reasoning and ask them how long they’ve been looking for a home, what other offers they’ve been making, which neighborhoods they desire, and what about your home stood out to them. Understand their motivation and circumstances. By that point, if you’re seriously considering the offer, enlist a real estate agent. The best option is to consult an honest professionally before negotiating the offer. 

Be aware, though, that off-market deals aren’t always successful. Often sellers aren’t motivated enough to let their properties go, and nearly every deal of this kind has a conflict over the last few thousand dollars. If you receive an offer on your unlisted property and you’re motivated to sell, this could be an opportunity for you!

Likewise, if you’re a buyer who is unhappy with the current inventory, consider an offer on an unlisted property. Recently I had a client who we showed five or six homes to, but they just could not find one to fall in love with. I noticed the neighbors of the last property I showed them were fixing up their home! I asked my client if they’d consider the home and they said yes.

I called homeowner and found out they had been fixing up the house with a high-quality remodel for a year so they could sell - in the next three to six months. I asked if they’d speed up the remodel if I had a buyer who was interested now, and they agreed! We put a deal together and closed in 45 days.

If you’re looking for a home but haven’t found “the one” just yet, let me know what you’re looking for. Contact me, I’d love to help you with your real estate needs!

When Is the Best Time to Sell Your Southern California Property?

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When is the best month to sell your property? This time of year, many homeowners ask real estate agents if they should sell their home in the spring or summer. It takes a few months for the seller and the agent to plan, prepare, and list the property.

If you’re thinking of selling in the spring, January is a great time to start. Many of you might think that’s a crazy suggestion, but many sellers see success in January. Buyers are out there 24/7.

In the past, buyers waited for spring to start their shopping because that’s when most listings hit the market. Today’s buyer looks at listings all day, every day. They have apps on their phone, and listings get texted or emailed to them. They don’t care about the time of year; they are ready to buy any time. List your home in January and you will have a captive audience. 

Another reason to list in January is people start to think about bonuses, inheritances, and tax implications. The end of the year often comes with financial discussions as people take stock of their incomes. They start thinking about work bonuses, or if they want to spend another year renting. People also start considering the tax implications of owning a home.

Finally, sellers typically wait until spring to list. Visible grass and flowerbeds make houses more inviting to buyers. However, if you list in the spring, you will face more competition from similar homes in your area. You’re better off being on the market before these other homes get listed. The more homes that are on the market, the more buyers will spread out.  Buyers shopping in January understand that the home won’t show as well in spring or summer months.

If you’re a flexible seller, consider listing in January or February. If someone falls in love with your home, you can negotiate the closing date, and they might not mind waiting until April to close escrow. Many buyers have been looking at homes for years, so come January, they’re tired of the real estate hunt. This is your target buyer.

If you have any questions, give me a call or send me an email. I would be happy to help you!

What Stops a Home from Selling in Southern California?

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If you have recently attempted to sell your home in Southern California, but did not find a buyer, then I have two different suggestions for you.
  • Your home may be overpriced.
  • It’s not being marketed aggressively

You could also have a combination of these two items. The first 30 days are the most important to the sale of your home, so be sure to hire someone that has an aggressive marketing plan.

If people can see your home and it’s priced attractively, then you will probably have a lot of buyers knocking on your door. If your home fails to sell in the first 30 days, then you will probably not get top dollar for it.

Focus on these three things as a home seller in Southern California:

  • Price
  • Condition
  • Accessibility of the home for showing
If your home is in good condition, priced well, and accessible for showings, then you have a good chance to sell this spring. We expect a lot of buyers to come out and purchase because of rising interest rates.

If you need help selling your home this spring, then please don’t hesitate to contact me!

March 2016 Real Estate Update

March 2016 Real Estate Update

How Is the National Market Changing?

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Today we just wanted to share some of the latest national housing market data. We’ve got the most recent report, which looked at the changes we saw year-over-year in the housing market. Here are some of the most notable changes we’ve seen in the past year:
  • Home sales are up 6.3%.
  • Median home prices are up 6.7%.
  • Average days on market is down 9 days, currently sits at an average of 71.
  • Number of home sales is down by 14.7%.

These are just a few of the great, encouraging numbers we’ve been seeing. If you have any questions, or want a more in-depth analysis of our local market, give us a call or send us an email. We look forward to hearing from you!

Check out our latest listing!

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Want to buy a Southern California Home? Search all homes for sale 

Completely remodeled modern masterpiece on Broad Beach Road! Amazing quality throughout this ocean view showplace! Gated courtyard entrance leads to a naturally lit wide open floor plan spanning 3200 square feet. Views from every room! Beautiful center island kitchen with state of the art appliances opens to the family room which boasts disappearing pocket doors. Designed to perfection with bleached wood floors and fine quality finishes throughout! 

Upstairs there are 4 bedrooms and an additional bonus room/office. The grounds are awesome! Set on a corner lot for optimum privacy, the yard boasts a covered patio, manicured lawn and expanded deck to take advantage of the panoramic views. There are also plans for a pool included in the purchase price. In addition you have deeded access rights to the beach! This is a rare, special offering for a turn key magnificent estate on Broad Beach!

Call Steven A at 818-599-3322 for more information or check out the MLS link

The Market Today in Southern California

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When will the market peak this year? What does the market climate look like today? We’ve certainly experienced some changes in the housing market recently compared to the last twelve months. If you had asked me the best time to buy last year, I would’ve told you the spring when there’s low inventory. Likewise, I would’ve advised that the end of summer is the best time to buy when there’s significantly more inventory.

However, 2016 will be different. In December, the Fed increased interest rates by 0.25%. They will most likely continue to raise rates until the end of the year. By then, they might hit 5% and remain high into 2017. The Fed wants to maintain market recovery by raising short-term rates. We’ve seen this in 1984 and 1994.

This impacts adjustable-rate mortgages. This will trickle into the higher mortgage rates towards the middle of this year. Nine to twelve months later, prices might start to slip. The California Association of Realtors predicts a 3% to 4% increase in home values in 2016. This will most likely happen between now and May. Inventory levels will have increased to a point where the market prices will stabilize. It’s difficult to determine when this will happen exactly.

If you’re thinking about downsizing or preparing for retirement, prepare to sell your home within the next three to four months. Give me a call or send me an email today! I can let you know what your property is worth. Take advantage of this opportunity.