Dear Friends and Colleagues,
The busy buying and selling season is now here! Inventory is starting to pick up and interest rates have been stable. Make sure to read our Buyer and Seller Advice section for tips on how to navigate the current market. In our Money Matters section we provide the Top 6 STEPS you need to utilize to win in a MULTIPLE OFFER SITUATION. Please continue sending us topics of interest so we can cover them in future newsletters. Thank you for reading!
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May 2017 Real Estate Newsletter
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LA County median home price ties record high as housing market sizzles...
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May 2017 Real Estate
By Dennis Adelpour
Advice for Sellers -
Market is HOT right now!
Inventory is still a huge issue giving sellers a lot of leverage. With the high demand and limited supply, you can command a higher price but be careful not to overprice. Interest rates have stayed pretty steady lately which is a big positive.
- 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 -
Check out our MONEY MATTERS segment this month for tips on how to navigate a multiple offer situation. Inventory is still an issue and I don’t see that changing anytime soon. 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’s 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 at this level.
- Check expireds 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, do it now and get it out of the way.
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
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6 STEPS to Getting your
Real Estate Offer Accepted in Los Angeles
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Build A Life, Not A Resume
"You can not connect the dots moving forward, you only can when you are looking backwards"- Steve Jobs
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JUST SOLD!
17847 Cathedral Pl, Encino, CA 91316!
Fantastic buyers get to enjoy this beautiful, newly remodeled home. Great location and breathtaking views at an incredible price!
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JUST LEASED!
22131 Alta Drive, Topanga, CA 90290!
Tenants get to enjoy a beautiful contemporary updated home with breathtaking views!
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This Months Featured Off Market Listing:
South of the Blvd home in Encino. Very private with lush landscaping, pool and a view! Tentative price will be $1,400,000 - $1,450,000!
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.
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Restaurant of the Month: Republique - 624 South La Brea Ave. Los Angeles, CA 90036
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Kayaking Season In LA
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The Best Outdoor Spots To Exercise in Los Angeles
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LA's 15 Best Coffee Bars
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Copyright © Berkshire Hathaway HomeServices California Properties. All rights reserved.
Our Mailing Address is:
The Adelpour Group
11677 San Vicente Blvd. #307
Los Angeles, CA 90049
Direct - (310) 573-8670
Office - (424) 245-5763
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