(Downtown L.A.) The local, urban home sale real estate market has changed, and is now beginning to separate into winners and losers. What have buyers been snapping up recently in Downtown L.A? Which properties have failed, and why are so many now failing to sell?
First, it’s always helpful to know what home buyers are doing successfully. Here’s a 2-bedroom, 2-bathroom with dramatic view that just went into escrow in only 19 DAYS — that’s 75% FASTER than comparable nearby units! #dtla #realestate #news
The shocking news about Downton real estate today is the surprising low success rate.
Why Downtown L.A. Real Estate Now Has a 73% Failure Rate
What makes a home sell much faster, for more money and with less hassle than other homes that sold recently? It starts with the main reason for most successful outcomes — determination. Many home sellers don’t know that many home sellers have not succeeded as the market has changed to a buyer’s market. Out of 609 recent Downtown listings, only 173 sold. That’s only a 28% success rate.
When a seller has decided that they’d like to sell the home for sure, and they need get top dollar for it, simply following last year’s rules no longer works. The home must be sold the right way for today’s real estate market. Buyers are no longer lined up out the door. The seller must now make smart choices in order to achieve success in the desired time frame.
The recent success story above reveals a focus on getting more money, selling the home faster, getting it sold with near 100% certainty, and, most importantly, relying on a proven database of buyers. Numerous failures occur because too many rely on old news and old methods to sell a property in a real estate market that moves quickly, and changes faster than ever before. When a loft or condo absolutely, positively must sell quickly, for more money, sellers must use the most proven system for success in today’s Downtown real estate market.
Get a free list of recently sold homes, with photos, descriptions and prices. The list also includes active listings of homes for sale. Also available by request is a list of off-market homes, pocket listings and unlisted homes for sale. Fill out the online form:
As the DTLA and the U.S. begin to see a plateau in the real estate market, the less-motivated buyers are disappearing. With a low inventory of homes for sale, today’s economy requires new thinking in order to take advantage of our changing situation at the end of 2018. #dtla #loft #realestate
As the number of investors begins to dwindle, the few buyers in the market today are the those who really want or need to move. In Downtown, that is condo sellers who want to move to a single family home or they just want to live in a cleaner, safer neighborhood. Downtown L.A. is still attracting large numbers of new residents. Most are planning to rent for relatively short-term value and enjoyment (1-3 years), while a limited number prefer to own as they focus on long-term gain in value, equity and net worth.
Buyers want houses. Seller want buyers. In urban areas like Downtown Los Angeles, there are no houses, so buyers usually want lofts or other condos with character, walkable to shopping, dining, entertainment and transportation. #hacks
Saving time and money: While historic affordability is quite good, today many feel that home prices are relatively high, and inventory of available homes for sale is quite low. Today, hardly anyone wants to move unless they can get the right deal. This post is about how the most sophisticated and strategic buyers and sellers obtain the right deal in any market, any month, any year, by using little-known strategies and techniques that are more efficient — real estate hacks.
Buyer Hacks
California real estate is competitive — very competitive. Buyers and seller must compete with many other on an open market, driving up prices for buyers, and reducing sale amounts to sellers when there are enough comparable properties on the market for sale. Strategies to give an edge over the competition involve beating or trying to limit the competition. For buyers, this can be done the following ways:
Placing an offer on the first day of a listing – Since most buyers need to think for a while, faster-acting buyers can snap up the best deals before other buyers drive up the price with competing offers. Many are unaware that California buyers are under no obligation to complete the transaction until weeks later after they sign off on all contingencies. Placing an offer on the first day of a new listing gives the winning buyer the advantage, while still giving several weeks to ensure they made the right decision thanks to the standard contingencies that protect the buyer’s deposit. | JUST LISTED
Pocket Listings – Even better than placing an early offer on a new listing, grabbing a property before it is listed for sale allows prepared buyers to get the best deals before other buyers even know about the home. Some sellers allow buyers to place offers on properties before they are listed on the MLS. These off-market or unlisted homes present an excellent way to avoid competing with other buyers, and can offer great place to find a better deal on an amazing home. | DETAILS
Escalation Clause – Helps buyer to keep price lower by raising the price automatically only if other buyers offer more. This automatic negotiation is sometimes embedded in the buyer’s offer.
Sellers want to use little known techniques to attract more buyers to help drive up the price. Sellers want to get top dollar, quickly with the least amount of hassle. This is best accomplished by lining up in advance thousands of potential buyers in waiting, while also maximizing the marketing to ensure that all potential buyers know about the property before and during the time when it is listed. #tipsandtricks
Seller Tricks:
Buyers in Waiting attracts thousands of buyers in advance by offering valuable free information
Staging – Sellers use unique interior design, decor and psychological decluttering make the property look more valuable and tempting
24-Hour Talking Ads – A toll-free number with free recorded information attracts buyers to call for info without being bothered by an agent.
Talking House Technology – Home buyers hear recorded property information on their smartphone.
Exclusive City-wide Buyer Agents Network – Closer real estate proressional relationships bring in more qualified buyers faster
Expanded syndication – For sale listing feeds to more than 550 real estate websites.
Photography – captures more of the home with a special lens, enhanced lighting as well as digital enhancement of the brightness, contrast and color.
Every Day Open House – Attracts more buyers because they feel more comfort and convenience.
Reverse Offer – Rather than waiting for an offer that may or may not come, the seller sends formal offers to the most qualified buyers who have inquired about the home.
Guaranteed Sale – The seller does not need to wonder or worry about whether the home will sell for the desired amount. The sale, amount and timing are guaranteed in writing. The buyer may place an offer that is not contingent on a loan. | DETAILS
Timing and pricing – Homes sell for the highest price within the first ten days on the market. The most successful sellers make sure that the asking price is perfectly optimized to take advantage of that.
Get a free list of pocket listings, off-market homes for sale and unlisted homes. Fill out the online form:
When a seller has decided that they’d like to sell the home for sure, and they need get top dollar for it, simply following last year’s rules no longer works. The home must be sold the right way for today’s real estate market. Buyers are no longer lined up out the door. The seller must now make smart choices in order to achieve success in the desired time frame.
