Dear Friends and Colleagues, Please enjoy this months Real Estate Newsletter. Check out the statistical analysis of The Westside vs. The Valley in our Money Matters segment and don't miss our Inspiration segment with the secret to happiness (as if it's a secret). Please continue sending us requests for the type of content you would like to see in future Newsletters! Thank you!
September 2016 Real Estate Newsletter
MARKET UPDATES
Southern California home sales surge in August!
While median prices and overall sales are inching up, housing inventory remains low.
Home sales across Southern California during August hit their highest level for that month in a decade, while prices remained at a nine-year high, a market tracker said Monday.
Last month, sales of new and previously owned houses and condominiums in the six-county region increased 9.5 percent from a year earlier to 23,278 properties, said Irvine-based CoreLogic. Sales rose 8 percent from July.
The median price increased 6 percent from August 2015 to $465,000, and was unchanged from July.
The median sales price has risen year-over-year for 53 consecutive months. It is now 8 percent below the peak median of $505,000 reached in March, April, May and July of 2007.
This is a slower part of the year for sales so make sure your asking price is right. This is the best opportunity for buyers to get your home for under market value if you are over priced and you have been on the market for a while. If you have not received any offers you are either asking too much for your home or the marketing and sales presentation of your home is not what it should be. Demand high resolution pictures taken from a professional photographer. Not "artistic" iphone pictures to save a couple of bucks. Make sure the home presentation your agent is giving to buyers really showcases the best aspects of your home with objection handlers ready when buyers bring up negatives.
A strategy to consider is taking your property off the market, freshening it up and re-marketing with the correct marketing and pricing strategy. No home is the same so the pricing and marketing strategy needs to be customized to your home to earn the highest sales price. Contact us to learn about our 4 different pricing strategies and to review how our proven 3-step marketing plan yields the best results for our sellers.
ADVICE FOR BUYERS
If you are looking on The Westside and your price point is within 15% of entry level properties, anticipate a bidding war if the property is properly priced and marketed. 2 escrows we closed recently were on The Westisde, both for entry level properties for their respective areas and we had to beat out 7 other offers to get the property.
The Valley is really an opportunity right now with good investment potential. Read my Money Matters section below to learn more about the history of The Valley vs. The Westside.
If you are going to buy a house, the time is now while the activity is slower. We anticipate the market will pick up again after the election. We are starting to see some loan products with lower down payment requirements with good interest rates. You may not need the standard 20% anymore if you qualify. We even have access to a stated income, no documents product but the down payment requirements for that are usually higher than 20%.
Contact us for referrals regarding different loan options and for assistance in purchasing your next home.
MONEY MATTERS
The Westside vs. The Valley - How do they Compare?
A lot of my clients always ask - where is a better place to invest, in the Valley or the City? Many would say that investing in the City is better because there is always a lot of demand and prices seem to always go up more relatively speaking, when compared to the valley. Everyone seems to have an opinion but we are most interested in the facts. Let's do a quick statistical analysis to provide us some insight.
As adults, Happiness often finds a way to elude us. It's not that we need new information to learn how to be happy, its that we need constant reminders of what we already know. Here is a great reminder for today. Click on the video below!
4 Bedrooms, 3 Bathrooms with 3,677 SqFt of Living Space on a FLAT 13,525 SqFt Lot
Newly Built in 2003 with Designer Finishes.
Guard Gated Community that features tennis, basketball and volleyball courts as well as an amazing pool, hot tub, playground, gym and community BBQ area.
Highly Rated Schools with easy access to the Freeway and Beaches.
Offered at - $1,198,000 - $1,248,000.
SEPTEMBER EXCLUSIVES
OFF MARKET EXCLUSIVES
This Months Featured Off Market Listing:
30081 Harvester Rd, Malibu, CA 90265 Completely remodeled to the studs, this single story home features ocean views, brand new master bedroom and bathroom with walk in closet, lush landscaping, top rated school district, privacy and a gated entry. This 4 bedroom home and guesthouse is the perfect home for a family or as a vacation home for out of area buyers!
Contact us to find out more about this pocket listing!
WE HAVE OTHERS - If you are interested in Off Market Properties and this months property does not fit your criteria, let us know what you're looking for and we can provide you with other Pocket listings we have available.
