Home Sellers Desperate As Property Market Downturn Begins

Real Estate News

Loft Wars (Downtown Los Angeles) —  Winners and losers diverge as the DTLA real estate market shifts into a more challenging reality.  December was the worst urban L.A. real estate market since 2008 in terms of number of monthly transactions completed.  That downturn increases the likelihood of pressure toward a home price slide in 2019.  #dtla #realestate #news

Location and Presentation: Art District industrial loft with Edison lights and interior that is The Bomb!
Location and Presentation: Arts District industrial loft upgraded with Edison lights — interior is The Bomb!  Dazzles long-term tenant and happy landlord.

At the onset of a buyer’s market and possible recession, the first dominos to fall are the unpopular, low-quality, uneconomical and poorly presented properties.

This article will take a close look at how buyers now differentiate the good from the bad, the winners from the losers.

We won’t show photos of the losers, but here’s the scoop on a few of the most challenged condos in Downtown:

In a building that has only seen 3 successful closings out of the last 11 listings, we’ll examine the units to determine why three sold successfully, why 8 of them have not, and why 1 unit got an accepted offer in less than 2 weeks.  Promenade West in the Bunker Hill neighborhood, while a very clean and respectable condo complex, can suffer from a somewhat stodgy 80s style, and, while designed to be a luxury condominium, is constricted by ordinary low ceilings while it also lacks in-unit laundry.  While most units either have not sold at all or have taken around 2 months to sell, one unit recently flew off the shelf because it was beautifully updated for a modern look, priced right and promoted with special marketing including live streaming open house webcasts, along with a unique Guaranteed Sale Program.

DEFEATED:  One of the many “loser” units in the building was overpriced, had non-updated bathrooms with brassy trim, mirrors galore from the 80s, aged oriental window treatments and left-over furniture stranded in the unit.   When the overconfident seller failed to immediately accept a lucky reasonable offer, the offering buyer immediately switched and purchased a much lower priced unit in the building instead.  The lose-out listing was canceled as the frantic seller scrambled to re-think and figure out how to unload the laggard condo unit.

Best of luck to that seller!  And congratulations to the seller of winning unit 412!

As the market transmutes to a buyer’s market, sellers tend to make more and more costly mistakes such as over pricing, then chasing down the market (an expensive losing race). Recently, unnerved home sellers have hired real estate agents, salespersons with restricted licenses, violent criminal backgrounds, out-of-area agents and discount agents who repeatedly list, withdraw and re-list in efforts to try to pull one over on the market. These crude efforts only slow down the sale, and cost the seller valuable time and money. Unfortunately, sellers are likely to make even worse mistakes as the market slips.

To conclude, here’s a big hint for ALL Downtown Los Angeles loft and condo sellers.  DTLA is today inherently a LUXURY market, which means that every condo deserves to be modernly updated, bright and cheerful, properly presented and marketed at the highest level for prompt, maximized results.

Find out what the home down the street sold for

Find out what your neighbor’s condo sold for. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

With an updated interior including bright, uplifting kitchen and bathrooms, this promenade condo unit went into escrow within 2 weeks.
With an updated interior including bright, uplifting kitchen and bathrooms, Promenade West condo unit 412 went into escrow in under two weeks, then closed on-time with a cash buyer.

HOW TO GET A CASH BUYER – Guaranteed Cash Offer on Your Home Within 24 Hours

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

 

How to Sell a Luxury Home

Selling a Luxury House or Condo Over $1 Million

Prestige Home Media Prospectus - The Finest Homes Deserve the Finest Marketing
Prestige Home Media Prospectus – The Finest Homes Deserve the Finest Marketing

Large, high value homes call for extra thought and attention when placing them for sale on the real estate market:  #howtosell #luxuryhome

Create a buyer profile – A psychological profile attracts high-end clientele

Unique Selling Proposition of the Home – What makes it distinct and different?

Fix up and perfect the details – Fix chipping paint and other eyesores no matter how small they appear.

Minimal staging.  Many luxury homes have nice views. If the home has no view, then staging and decor are more important.

Price it correctly – this is important for all homes, especially when there is more money at stake.  Try to start with the exact market price. Based on feedback,  make sure the listing asking price is right on within 1-2 weeks.

Spring and Summer make the home look its best and most valuable.

Luxury marketing – See Below

High end photography and videos- A must for expensive homes

Avoid Open House.  Pay attention to security.  Make everyone sign in.

Mailing list of luxury buyers – A necessity for pricey real estate


LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking


The Chambers Team

https://www.maxrealestateexposure.com/tips-selling-luxury-home/

GOING TO THE ENDS OF THE EARTH TO SELL YOUR HOME…
I believe the finest homes deserve the finest marketing. That’s why my advertising program is designed to go above and beyond anything offered by any other agent or broker in quality, sophistication and depth. I employ the latest technology to deliver perfect presentation and massive exposure for your home to drive responses from buyers everywhere.
LUXURY & INTERNATIONAL ADVERTISING Your home will be featured in prominent global media brands including The New York Times, The Wall Street Journal, Robb Report, duPont Registry and the International Herald Tribune. It’s also translated and distributed to dozens of prominent Real Estate sites throughout Asia, Europe, Australia, the Middle East, South America, and more.
STYLISH, SOPHISTICATED PRESENTATION We’ll create a dedicated online showcase for your home, featuring magazine-quality professional photos, elegantly produced High Definition video and stunning aerial animation. Nothing else compares – but don’t take our word for it, check it out for yourself.
LOCAL SOCIAL & MOBILE Your home will benefit from cutting edge social media technology and robust exposure on sites like Facebook, Twitter and YouTube. Our showcase listings reach potential local buyers on every type of computer, smartphone and tablet, in addition to intensive local print, mail and signage.
Corey Chambers
213-880-9910  www.WeSellCal.com  corey@coreychambers.com

PRESTIGE HOME MARKETING PLAN
It starts with
PERFECT PRESENTATION

A Dedicated Website  Your home will be featured on its own dedicated Property Website, including a  CUSTOM domain and stunning, professionally produced Aerial Video Tour.

Reaching Mobile Users  Your home’s website is perfectly optimized and presented to smartphone and tablet users, so everyone gets the best possible experience.

Engaging Content  High definition video and image galleries, interactive maps and more make your home’s web presence distinctive  and eye-catching.

Don’t really on the local MLS to find a luxury buyer.  Advertise the home in the real estate section of world-wide luxury publications with wealthy audiences.

PRESTIGE HOME MARKETING PLAN

The New York Times

With over 25 million unique visitors each month, NYTimes.com is the #1 individual newspaper site in the U.S.   Access and connect with award-winning journalism — in articles, video, slideshows and multimedia features — and become part of one of the most engaged, loyal community of readers on the web.

International Herald Tribune
The International Herald Tribune is the global edition of The New York Times and provides a balance, intelligent perspective on world news, business, culture, sport and more, making it required reading for half a million influential, sophisticated readers in 160 countries around the world.

PRESTIGE HOME MARKETING

THE WALL STREET JOURNAL

THEWALLSTREETJOURNAL.COM

LUXURY RESIDENCES

wsj.com is the leading provider of business and financial news and analysis on the web, offering the ability to reach Executives, Opinion Leaders and other upscale professionals. The site goes much deeper, providing around-the-clock coverage, well as interactive features. The powerful connection between wsj.com and its loyal “blue chip” audience makes the site an indispensable venue for our advertisers.

PRESTIGE HOME MARKETING PLAN
Robb Report

Robb Report Exceptional Properties offers unparalleled access to discerning home and property owners of refined taste. These highly sought-after consumers, many of whom own multiple residences, are responsible for a disproportionate amount of spending on luxury home goods and services, and are active buyers and sellers of luxury properties.
Robb Report
COREY CHAMBERS  213-880-9910

duPont Registry

A BUYERS GALLERY OF FINE HOMES

duPont Registry is a premier luxury brand that showcases the world’s finest luxury real estate for sale from the beaches of the Fiji Islands to the mountains of Colorado. From Tropical Island Estates to lush country cottages, duPont Registry brings a wealth of international luxury properties directly to the consumer in their home. Indulge yourself in our luxury home listings. Our extensive list of luxury homes for sale enables you to find the prestigious property for which you have been looking. DuPont Registry is the exclusive intermediary between a ultra-affluent buyers and luxury real estate sellers.

PRESTIGE HOME MARKETING PLAN

Your home will gain international exposure in over 30 prominent Real Estate search sites around the world targeting affluent global investors, including China, Russia, Canada, Germany. Brazil. France, Singapor, UAE and many others.

COREY CHAMBERS   213-880-9910

PRESTIGE HOME MARKETING PLAN

Your home is promoted to thousand of Brokers, Buyers and Investors via a high-impact Email Brochure with multiple photos and video links. Our exclusive database includes local Agents and Brokers as well as Luxury Brokerages around the US and the world.

PRESTIGE HOME MARKETING PLAN

YouTube

We create a stunning Aerial Video Tour using Google Earth technology to show off your home, unique location, and we broadcast it to the world via a YouTube high definition stream for web and mobile users everywhere.
INCLUDES STUNNING HD AERIAL VIDEO

COREY CHAMBERS   213-880-5510
HD

Find out what the home down the street sold for

Find out what your neighbor’s penthouse sold for.  Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking


PRESTIGE HOME MARKETING PLAN

facebook
Using sophisticated demographics targeting, your home will reach thousands of local high-wealth buyers and investors on Facebook with engaging, high profile paid ad placement and beautiful HD Video page to be shared across vast social networks.

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.