There is never a bad time to sell a house in Los Angeles—why would there be? LA has great weather all year round, some of the most beautiful beaches in the country, and a unique sense of community. Location aside, the red-hot housing market in Los Angeles lets a homeowner sell at almost any time of year.
Housing inventory is low, and there is a consistent demand for real estate in almost every part of the city so you’ll probably be able to sell your home well above market value.
Pricing is at an all-time high in LA. The market has seen an almost complete recovery since the crash of 2008 with no sign of slowing down. The median price for a house in Los Angeles was $570,000—a 10 percent increase from 2016’s end of year median price. In fact, about 38 percent of Los Angeles homeowners have sold their houses at an average of $14,000 over the market price.
Your Los Angeles home is in high demand, and we can give you the best pro tips and tools to sell your house fast at the most lucrative price. The iron is hot, and all you need to do is strike with the best hammer.
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Buyers Love “Alternative Neighborhoods”
When you begin to think about selling your home in Los Angeles, you need to know who you are selling to, and where this population is looking to buy a new home.
Millennials are finally making their way into the housing market nation-wide as first-time homebuyers.
The California Association of Realtors noted that in 2017, 34 percent of all homebuyers were buying their first home, most of whom are in the Millennial generation. This demographic is getting older, settling down, and looking to invest in real estate, but they are also looking to invest in a part of LA that won’t break the bank. Therefore, neighborhoods that have had historically low property values have become increasingly popular. This new generation of homebuyers cannot afford homes in Western LA.
Top Los Angeles real estate agent Todd Jones at Rodeo Realty ranks in the top 2% of agents for homes sold in LA and has noticed this trend. “I see some stuff that blows my mind…I see some areas like Highland Park or El Sereno—most people don’t even know where that is—but it is south of South Pasadena. They have seen a huge increase in value mainly because of the affordability in that area. So people that have been pushed out of the Los Villas area or Studio City—the West Side in general…you have a bunch of young people coming in there and making the houses cute.”
According to Jones, for most young people it is not about the price of the house, but rather the ability to make consistent, affordable monthly payments. Young couples and single Millennials are looking to own property, not to pay rent because, in the long run, it is cheaper.
So, if you are in the areas of El Sereno, Silver Lake-Echo Park, Downtown LA, Eagle Rock, Mid-Wilshire and the Metropolitan Southwest areas (to name a few), you are in a prime position to tap into a burgeoning “alternative” real estate market. Homes in these areas and other parts of East LA have seen a dramatic increase in sales activity up to 89 percent in the past year. (Talk about sizzling hot!)
5 Tips To Make Your Already In-Demand LA Home Even More Desirable
Regardless of whether you own a house on the gentrifying East Side of Los Angeles, or on the ever-coveted coastline, your house is going to sell, and sell at a high price. However, we want to make sure that you sell your house in Los Angeles, California at the highest price you possibly can.
When it comes to selling a Los Angeles house fast for top dollar, you absolutely need to know the tricks of the Los Angeles real estate trade.
Pricing is EVERYTHING When You Sell Your LA Home
When you are selling a home in Los Angeles, keep in mind that housing inventory in the area is low and prices are high. People looking for houses for sale in Los Angeles are searching for what they perceive as a deal on a house. Jones is adamant about advertising your house at or just below market price. This ensures that you’ll get competing offers from a slew of potential buyers, and creates a sense of urgency to buy the house.
“If the house is priced properly, the house will sell quickly within two weeks to 30 days,” says Jones.
“Most sellers are always afraid. [They say], ‘Oh I don’t want to lose money on the table, you know I can negotiate down but I can’t negotiate up’. That’s like their normal haggling mentality. That is the wrong way to sell a house…You can never underprice a house, but you can definitely overprice a house.”
Forget the Fixer-Upper, Turnkey Homes Sell Fast in LA
Most likely, you’ll be selling your house to a first-time homebuyer who has scraped together their savings, or borrowed money from their parents to put a down payment on their new home. That means that they do not want to pay more money for repairs and renovations once they have moved in.
U.S. News & World Report housing experts explain that before market prices increased so significantly, buyers were willing to buy a house that had more “character.” Now, they are more inclined to bid on a turnkey home where no extra money or fuss is needed.
If you are a Los Angeles homeowner, invest in the cosmetics of your house. Specifically, do these 3 things:
- Put a fresh coat of paint on the walls. We suggest painting your rooms a nice beige.
- Redo the flooring, especially if there’s carpet.
- Get that leaky sink fixed before you list your property.
Upgrading Your LA Home’s Aesthetics Goes a Long Way
Have you ever heard the expression, “people eat with their eyes first” on your favorite competitive cooking show? Well, the same holds true for selling a house—presentation matters.
The more appealing the home is to the eye, the more interested potential buyers will be at showings. Jones explains that making the appropriate obvious cosmetic repairs and fixes are important (deep cleaning the house, getting rid of the carpet, replacing faulty windows, etc.), but staging a home can really knock viewers’ socks off and attract multiple offers.
“I convinced them [a client] to do staging, and it wasn’t easy because nobody wants to spend that money, but it is money so well spent. We wound up getting $30,000 over the asking price which more than paid for the staging and multiple offers.”
Here are a few specific home staging tips you can use to wow homebuyers in Los Angeles:
- Pack up that clutter! The more superfluous furniture and knick-knacks that you have lying around, the less attractive the space will be to potential buyers. Before you show your house, you want to make sure that your house gives off an easy-going “room to breath” vibe. No one wants to buy a house they feel cramped in.
- Take down all of your personal pictures from the walls, counters, etc. Remember that the buyers want to envision themselves and their families in the house, not yours. Taking down your personal photos will allow the potential buyer to imagine what it would be like for them to own your house and make it their own.
- When choosing a color scheme for furniture, accent pillows and living space always remember that lighter, brighter, more inviting colors are best. It may be common sense, but the brighter your living room or bedroom is, the more positive thoughts people will have about the space.
Finding a new way to arrange your furniture and make the most out of your space will make a significant impact on the way people consider your home for purchase. Sometimes putting in a little extra means reaping the of benefits in the long run.
Good Photography is Crucial If You’re Marketing an LA Home for Sale
So, you have decided on a great asking price with your real estate agent, the house has been cleaned up, and each room is impeccably staged. The next step is to focus on the marketing of your property, starting with the listing photos. According to Jones, professional photos could make the difference between just selling your house and selling your house for the best possible price.
“I hire a professional that will come in and take professional photos because if they are not taking professional photos they [the sellers] are shortchanging themselves tremendously,” says Jones.
The real estate listing photos are the first thing that potential buyers will see related to your home, and you want to get them to come to the house to view the property in person. If you are inexperienced with a camera or decide to capture your house in an iPhone photo shoot, odds are you will not attract the best buyers and therefore the best offers.
Here are a few recommendations if you want to hire a top of the line Los Angeles real estate photographer to photograph your home for sale:
Beverly Hills Aerials
This company has been reviewed as the number one real estate photography company in Los Angeles that specializes in drone aerial shots of property. If you have a beautiful expanse of land and want to capture its full beauty, this photographer is for you. Beverly Hills Aerials has worked with high-profile clients like Nike, NBC, Ellen Degeneres, Twitter, and People, to name a few.
Brad Zangwill Photography
Brad Zangwill doesn’t only photograph weddings, he takes great still lifes of houses as well. Rated as the “top pro” on websites like Thumbtack, Brad Zangwill has been lauded for his ability to take a living space to the next level through pictures. His 125 reviews on Thumbtack say that he is enthusiastic about his work and committed to getting the best shots for his customers.
Many photographers can take a picture, but can they host a virtual tour of your house? This photography company will not only make your house look incredible but will give potential buyers a “real” sense of the house before they visit in person. Clients of Pro Property Shots were happy with how quickly the photographers were able to make edits and how affordable their services were.
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And the best part? If your home sells for more than the price we paid you for it, we’ll give you the additional cash minus selling costs and program fees.
Hire a Top Real Estate Agent
The last piece of the puzzle is hiring an expert to make selling your house easy, fast, and lucrative. A real estate agent has the knowledge and the experience that will take your home to the next level. From marketing your house online and negotiating offers, to convenience and legal protection, real estate agents make sure that everything about the sale of your home runs smoothly.
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Not only should you hire a real estate agent, but you should hire the best real estate agent in your area. Why?
The difference between a top real estate agent and an average real estate agent is the difference between selling your house at market value or selling your house for well above asking price. It is the difference between selling your house in two weeks or selling your house in two months.
On average, a top real estate agent in Los Angeles moves properties off of the market 33.63 days faster and for about $57,000 more than the average-performing agent. The best agents are the safety net service for a Los Angeles home seller.
A top agent will earn their real estate commission with an unmatched negotiating ability that is essential, especially in a hot market like Los Angeles.
For inexperienced homeowners and underperforming agents, it can be overwhelming to manage multiple offers. You or your agent may make the mistake of jumping at the first competing offer and lose out on an even higher offer because you were unaware of the money-making potential of your property.
For Jones, hiring a real estate agent is all about guaranteeing a result and putting sellers’ minds at ease. “Let me be the professional. You are going to pay for a service, I am going to take good care of you, I am going to make sure that you get top dollar for your property and take care of all the paperwork.”
Lastly, hiring a top real estate agent is an investment in your future. For example, many of the clients that Jones helps are over the age of 55. In California, if you are 55 or over there is a way to keep your current property tax rate if you are moving within the state. Pretty nice, huh? About 75 percent of his clients are unaware of this before they begin working with him.
Jones is the best real estate agent in the Los Angeles area because he pays acute attention to the details. This allows him to be highly successful and ensure his clients’ satisfaction.
Find a top real estate agent in Los Angeles to sell your house fast on this smokin’ hot market. Trust us, your wallet will thank you later.
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