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Navigating the ever-evolving landscape of real estate demands astute observation and strategic planning, especially as indicators point toward an impending shift in the market. As we near the turn of the year, subtle yet significant changes are surfacing—a rise in inventory accompanied by a slower pace of sales, dwindling multiple offers, and increased renegotiations during escrow.
In Pacific Palisades, a region classified as a Very High Fire Hazard Severity Zone, the threat of wildfires looms large. Residents are continually encouraged to take proactive measures to safeguard their properties. Earlier this year, local fire department personnel conducted assessments of properties in brush areas, identifying those with excessive vegetation and urging owners to comply with clearance regulations. To address the need for a more systematic approach to assess property-specific wildfire risks, a groundbreaking tool called the “Wildfire Disclosure Report” has been introduced.
The Palisades real estate market has defied expectations, with prices soaring despite higher interest rates and reduced loan-qualified buyers. Additionally, an intriguing shift has occurred, with a growing number of homeowners choosing off-market sales, particularly for higher-value homes. As the market continues to evolve amidst various factors, predictions remain uncertain. Stay tuned for updates.
I am frequently asked for suggestions that would help owners preparing to put their home on the market. The following are the top home seller mistakes that can be avoided and may make the difference between success and failure.
I continue to be surprised by how many people believe that all real estate agents are pretty much the same. Agents often are seen more as typical sales people, rather than as professional service providers.
What Are You Required to Disclose When You Sell Your Home? What’s a seller’s disclosure statement or seller’s disclosure form?
“Our college-age children are still single, but we would like to help them get started with owning real estate. Other than cash for a deposit, and waiting for the right time, what are the main issues and factors we should consider?” — A local homeowner
Perhaps the most challenging aspect of downsizing for most people is the sorting through and eliminating decades of accumulation of things.
This is the seventh in a series of articles in answer to requests for more informational help with “downsizing” issues for seniors. Previous articles in this series explored issues about where, when and how seniors can approach decisions regarding moving to a more suitable home.