On this episode, I answer the following four real estate questions:
1) Do I have to leave when a buyer is touring my property or can I stay?
2) Are there any more bank owned properties?
3) I don't want to do any repairs to my home before selling. Can I sell it the way it is even though its not in the best shape?
4) Just got an offer on my house. When does escrow officially begin?
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All-cash transactions comprised 23 percent of sales in February.
This stat is down from a year ago.
Individual investors accounted for the largest portion of cash sales.
Source: National Association of REALTORS
41 % of homes sold in February were sold within 30 days.
Properties remained on the market for an average of 44 days in February, up from 37 days a year ago.
Source: National Association of REALTORS.
Only 1 Showing. Offer deadline 4/3/19.
WARNING!
Only 1 showing for this condo located South of Ventura Boulevard in Encino.
Visit DensmoreCondo.com to find out the showing instructions, asking price, details for the offer deadline, and to watch the full video.
The most unique new listing in Studio City
Asking price: $1,299,000.
This very unique home is available right now to purchase.
Can you imagine not having any neighbors?!
This property is perched up on its own hill.
Very unique and a great opportunity for the right investor.
Most expensive home to sell this week in all of Los Angeles
Asking price: $29,500,000
Selling price: $23,000,000
80,000 square feet of flat land in Beverly Hills is very, VERY hard to come by!
Favorite condo to sell this week in Los Angeles
Last sale in the building was for $519K... that sold unit was almost identical to this unit.
After some tough negotiations, I was able to win this unit for my clients for $491K. That's $28,000 less than the neighbor that just sold a couple of months ago!
The listing agent told me the seller was very motivated to sell... I was able to use that as leverage in the negotiations.
Listening is such a huge part when negotiating a real estate deal!
Cheapest home to sell this week in Burbank
Original asking price: $585,000
Selling price: $575,000
This property was in such bad condition that the sellers were only taking cash offers.
No lender would lend on the property!
Would you buy a home from a #hoarder?
If you can't find building permits for your home...
You should always give the buyer a disclosure stating that they should do their due diligence and investigate to make sure that your home has all the correct and necessary permits.
Your home permits can be found at your local building division.
Your city's building division is where you will find your home's original permits.
Head on down there and ask for a copy of all your permits.
Keep in mind that older homes will have some bad looking permits... they are all old, smudged, and hard to read.
Unfortunately that is really the only paperwork you can go off of.
Are upgrades to my home needed in order to sell it?
Keep in mind that if you have a fixer upper, and you are selling as-is, prepare to list the home with a fixer upper price tag.
That means you will not get top dollar for your home.
Top dollar goes to the properties that do not need a single repair and are beautifully remodeled.
A buyer can simply move in and not worry about a single thing.
You can absolutely sell your home in as-is condition.
If you don't want to repair a single thing in your home, don't worry, it's not a problem!
No need to call a #plumber, #electrician, #roofer,#sewerinspector, #termiteinspector, etc.
Put down that phone!
Now, if you are going to go down this route, you have to price your home accordingly.
Don't expect to get top dollar if your roof is leaking and your plumbing doesn't work.
Are there any incentives for first time home buyers?
All my loan officer friends are going to direct message me about this video.
They are going to tell me that they have special first time home buyer programs that are being offered and that I don't know anything about loans.
Here is what I do know: a buyer's offer better say that the loan they are utilizing to purchase the property is either a conventional or FHA loan.
The reason why is because most agents only understand those 2 types of loans.
So if the contract says any other type of loan, good luck getting it accepted.
Do you know how hard it is to convince a listing agent that your buyer using a VA loan will not have any trouble closing escrow?
It's almost impossible!
And VA loans are a very well known type of loan... it's just not used very often in #LosAngeles.
Imagine trying to use some other type of exotic loan that the agent has never heard of...
Oof... forget about it!
Know someone who was unsuccessful at selling their home?
I love being the second agent to try to sell a home!
I get to come in and analyze exactly what went wrong the first time the home was on the market.
What type of buyer was all the marketing geared towards?
Were professional pictures of the home taken?
Was the home staged?
Did the home have a marketing video?
Was the home promoted on social media?
There are so many marketing strategies that need to be examined, adjusted or completely removed.
I absolutely LOVE that part of my job.
If you know someone who was unable to sell their home the first time around, please tell them about me.
I can do a complete analysis and determine what marketing adjustments need to be made in order to finally get the home sold.
Let's talk 818-445-7953
Should low-ball offers be ignored?
The fastest way to get a low ball offer up in price is to tell the buyer you have multiple offers, and that they need to submit their best and final offer.
Watch and see that low ball offer jump up dramatically!
Even though its a low ball offer, I found that most of the time the buyer is bluffing and is desperate to get the home.
Of course, you should be telling the truth and have multiple offers in hand... otherwise this strategy won't work.
How do you get multiple offers?
Price your home correctly from day 1.
See how it's all tied together?