October 2016 Newsletter

Dear Friends and Colleagues, Please enjoy this months Real Estate Newsletter. Check out our featured article on Pocket Listings in our Money Matters segment and don't miss our Inspiration segment with a powerful message! Please continue sending us requests for the type of content you would like to see in future Newsletters! Thank you! October 2016 Real Estate Newsletter

MARKET UPDATES Slower Market Trends Southern California’s residential housing market down-shifted into holiday mode during September, with sales basically flat from a year ago and the median price dipping to its lowest level since May, a market tracker said Wednesday. Last month sales of new and previously owned houses and condominiums dipped 0.8 percent from a year earlier to 20,927 properties, according to Irvine-based CoreLogic. And sales were down 9.5 percent from August. “It’s not unusual for the median to decline modestly between August and September, in part because demand begins to soften heading into the fall, since many buyers with families buy before school starts,” said Andrew LePage, a research analyst with CoreLogic. The market did have a soft summer. Read More ADVICE FOR SELLERS It’s very common for the market to slow down during this period of time in the year. Having the presidential elections around the corner has also put a lot of uncertainty into the market which has caused buyers and sellers to slow down their activity. We are seeing a very strong slowdown in the high end market. The feedback we are getting is everyone is waiting for the elections to be over and to see how the market reacts before they make any moves. That has caused a strong pause in the high end market but the starter (entry-level) market is still very strong. If you have been on the market for over 60 days without an offer and you are in the higher end market for your zip code, that’s very normal for today's market. You may want to consider taking your property off the market soon and then coming back with a new marketing strategy and possibly a different price to attract more buyers. The fact that your days on market goes to ZERO when you take your property off the market and bring it back, alone will really help drive more buyers to your home. Check your marketing and showing strategy as those are usually the areas you can make adjustments and see the best results. If you are in the lower end of your respective zip code and you’ve been on the market for over 60 days without an offer, something is wrong. It’s either the way your home shows, you’re priced too high, your marketing strategy is off or all of the above. This market is still moving quickly at this level so you should anticipate an offer the first 60 days. Let us help you by evaluating your showing and marketing strategy and we’ll provide you feedback. Some very specific changes to your strategy can yield the results you are looking for. ADVICE FOR BUYERS Prices have gone up consistently for the last 54 months. That’s the bad news. The good news is that the market is now starting to balance and slow down. We are seeing properties stay on the market longer with less multiple offer scenarios. Entry level properties are still selling quickly, but if you are looking for higher end properties, this is a great opportunity to buy something at a discount. As sellers are starting to get worried and nervous about the market due to the effects of seasonality and the upcoming election, buyers can take advantage of that fear and buy a property today below market value. If you have been looking for a property, this is a great time to try and pull the trigger. Demand is lower during this time of the year and pricing has softened. Pocket listings are still a great option so let us know what you’re looking for and we can share some of the opportunities we have available with you. MONEY MATTERS Are Pocket Listings an Opportunity? We get asked all the time about Pocket Listing opportunities. A pocket listing is known by many names….. off market property, whisper listing, coming soon listing, private home sale...etc. What this essentially means is that the property is not currently on the MLS. Some clients do not want to go through the hassle of showing their home to 100s of people, hosting open houses or having pictures of their home online and for everyone to see. Is selling or purchasing a home off market a good opportunity? Let's Break it down! READ MORE by clicking on the link to see our Comparison Chart! Read More INSPIRATION MAKE AN IMPACT "When you were born, you cried while the world rejoiced. Live your life in such a way that when you die, the world cries while you rejoice. "

Click To Watch EXPLORE FEATURED LISTING Click Here For A Virtual Tour 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. LAGUNA BEACH BEAUTY 2684 Nido Way WAY BELOW MARKET! Completely redone with big ocean views. Selling now below market in Auction. Stunning 3 Bed 2 Bath Single Family Home. This modern styled “Beach Chic” home spans approximately 3,200 sq ft with high end finishes in one of the best areas of Laguna Beach Call or email us for more pictures and details on how you can purchase this property at a huge discount! Asking $1,950,000 RECENT SOLDS OFF MARKET EXCLUSIVES This Months Featured Off Market Listing: 896 North Beverly Glen Great Opportunity to live in Bel Air! Close to UCLA Park-like Backyard with 20 foot Waterfall Remodeled, Open and Airy 2 Bed 2.5 Bath 2,221 SQ FT. Asking $1,525,000 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. Share Tweet Forward LA LIFESTYLE Restaurant of the Month: Kettle Black, 3705 W. Sunset Blvd.

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