When you show your home, you’re trying to present it in the best possible light so buyers will be able to imagine themselves living there and be eager to buy.
Questions arise such as how long the process will take, how neat must the home be kept, how much notice will be given before an agent shows up, if an open house is necessary…
In reality, real estate is an investment. Like any investment, there are good times and bad times to sell. When it’s a bad time to sell, it’s usually a good time to buy, and vice versa. Buying a home isn’t a handshake deal.
Buying your first home can be a learn as you go process. But even though everyone’s home buying experience is unique, you can prepare yourself for what’s to come by learning about what helped and held others back. Before you embark on your own home buying journey, here are some of the most important Dos and Don’ts to get you started on the right track.
Before you can get serious about buying a home, you need to get pre-approved for a mortgage. The best time to get pre-approved is just before you start shopping for homes.
Homeowners are sometimes hesitant to upgrade when it’s time to sell. After all, you won’t be living there much longer, but making small upgrades over time serves a seller immensely.
2019 was another year of political upheaval around the globe, and many of the pricier areas of real estate have begun to be impacted by the charged emotional climate and overdue cyclical period of price adjustment. Based on a review of all multiple listing service sales (MLS) for 2018 and 2019, Pacific Palisades home values in general are lower now than at the start of last year by about 7%. The total number of homes sold is lower by 8%, even though the cost of money (interest rates) is slightly less than a year ago.
Several months ago I was hired to sell a home here, and the owner decided to set the price approximately 12 percent higher than where we suggested the market would respond most favorably to. After months of very active marketing, many ads and open houses, and an eventual price adjustment, we were finally able to negotiate a lease with an option to purchase. That is an example of a home, which was merely “on the market.”
As of January 31st, there were 82 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is just 2% higher than the start of 2019.
California Legislature has passed several housing laws that are effective in 2020. These include the first statewide rent control provisions, new protections for current tenants, and streamlining of the permit process and limits on local review procedures. The most significant impact for some people is a package that allows most single-family homes to include additional housing units.
Conventional belief has generally been that November-December is the worst time of the year to have a home on the market. The reasons for this thinking are that people go on vacation, holidays distract attention, bad weather may inhibit some buyers, and many real estate agents discourage home sellers from winter listings.