Dear Friends and Colleagues, February was another strong month for real estate. Interest rates and inventory remain low with demand staying high. Make sure to read our Buyer and Seller Advice section for tips on how to navigate the current market. Also, we are going to help answer the question "Are Single Family Homes better investments or are Attached properties?" in our Money Matters Section. The results may surprise you! Please continue sending us topics of interest so we can cover them in future newsletters. Thank you for reading!
The Market is continuing to climb as we approach the hot selling season. Inventory is a huge issue right now so it maybe a good idea to come to market sooner than later before the rush of inventory comes in April and May. There is a lot of demand so with the limited supply, you can command a higher price. Interest rates have stayed pretty steady.
Make sure to price correctly - if you’re priced too high, your property will sit. If you want to leave some space to negotiate, don’t be higher than 5% above what market value is. There is nothing better for a buyer than a property that is stale. Don’t put yourself in that position.
Have a strong showing presentation. There is a huge difference between opening the door and letting buyers through on their own, versus having someone give them a custom home presentation that outlines all the great features of the property. This alone coupled with strong negotiation can net you 5-10% more at closing.
Internet is King! Make sure your home looks amazing on the internet. It all starts online so if you don’t have a strong web presence, you are leaving money on the table.
Connect with us to learn more about how to price your property correctly and create the best internet presence and sales presentation. 310.573.8670
Advice for Buyers -
Inventory is very low right now so you have to create inventory. We have had a lot of luck recently finding deals off market for our buyers. It takes a lot more effort than just looking on the MLS but it is necessary to make the difference. Inventory will start to pick up in the coming weeks so don’t settle. Interest rates are still near historic lows so take advantage of that while it’s still low.
Check expired listings and rentals for off market opportunities. Door knock neighborhoods you are interested in and send mailers with custom letters to sellers. This really works! We are doing it now for our clients. Sellers love the idea of selling off market because it limits the inconvenience of open houses and random showings. It’s a win-win for both the seller and buyer!
Re-Explore properties that have been sitting on the market for 60 + days.
Make sure you have your money straight! Don’t wait until you find a property to get your pre-approval letter. If the property you find is hot, you may not be able to get a pre-approval in time to show you’re qualified. If you’re a business owner (non-W2), there is a lot of paperwork that needs to be submitted. Don’t procrastinate, try to get this done as soon as possible.
Connect with us to help you find off market properties through our proven strategies. I also have a great list of lenders that can get you pre-approved quickly with very competitive rates. 310.573.8670
MONEY MATTERS
Which is the better Investment in LA? Buying a Home or an Attached Property? There is speculation that buying a home is a much better investment than buying an attached property. I hear that all the time. In fact, I have never heard anyone say a condo is a better investment than buying a single family home. As with everything, everyone has an opinion but the question is, are their opinions based on facts?
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.
LA LIFESTYLE
Restaurant of the Month: Sushi Ginza Onodera - 609 North La Cienega Blvd
