Selling your own home, not a good idea for most sellers in the Downtown LA Loft and Condo Market

Barker Block Loft Living Room
Barker Block Loft Living Room

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers
According to the 2017 Profile of Home Buyers and Sellers from NAR, last year 95% of buyers search online for a home. That is in comparison to only 15% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet
Where did buyers find the home they actually purchased?

49% on the internet
31% from a Real Estate Agent
7% from a yard sign
1% from newspapers
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

3. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale by Owner:

The buyer who wants the best deal possible
The buyer’s agent who solely represents the best interest of the buyer
The buyer’s attorney (in some parts of the country)
The home inspection companies, which work for the buyer and will almost always find some problems with the house
The appraiser if there is a question of value
4. FSBOing Has Become More And More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

5. You Net More Money When Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

A study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases, may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is:

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year.

Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?

Bottom Line
Before you decide to take on the challenges of selling your house on your own, let’s get together to discuss your needs.
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Our Feature property is the Barker Block is a complex of industrial lofts in the Arts District of Downtown Los Angeles. It brings modern design and amenities to a historic furniture warehouse in the heart of the city’s most authentic neighborhood. Mixing life, art, energy and home, Barker Block offers one of the most beautiful and intriguing living experiences around. We invite you to see it for yourself.  Barker Block’s location in the Arts District is one of those genuine places with a real neighborhood fabric, originality and creative energy that gives it a familiar big-city feel with a uniquely Angelino vibe. Located at 120 S Hewitt Street unit 3 is on the market for $1,100,000.

Learn more about available Lofts and Condos for free. Fill out the online form.

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Barker Block Living Space
Barker Block Living Space

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.

South Park Neighborhood Easy Access to LA Live And Easy Access To A Variety of Shopping

Flower Street Loft #108
Flower Street Loft #108 Kitchen

South Park is a neighborhood that is nestled in the southwest corner of Downtown Los Angeles. In recent years, South Park has become a neighborhood with modern expansion of residential high rises, sports stadiums, concert arenas, and luxury restaurants and hotels. It has become a city for the successful and the ambitious.

In South Park with the median age is 23, has the lowest for any city in L.A. County. The percentages of residents who are 34 or younger is among the county’s highest. It has become a youthful and diverse area in LA County.

South Park Homes for Sale Downtown Los Angeles
View of South Park
Imagine living in a brand new building and just a walking distance to LA Live, Staples Center, and the LA Convention Center. There’s a pulse and energy to this vibrant urban area where there is always something to do and something going on. You’ll find your days function better with the right combination of excitement, and ease of getting from where you live to where you play.

South Park is an area that is dedicated to safety, it has one of the lowest crime rates of any Downtown neighborhood. The Safe Team of South Park Business Improvement District (BID) patrols all day, every day on bicycle and foot throughout the South Park district. In green shirts and black pants, they are on the road making daily contact with merchants, visitors, and residents.

South Park BID provides a 24/7 Safe Walk Service within it’s district boundaries. The Safe Walk Service is designed to ensure safe arrivals by providing walking accompaniment to residents, employees, and visitors who may feel more secure when accompanied by a District Safety Officer rather than walking alone.

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Just south and walking distance to Downtown Los Angeles, residents of South Park Experience it all. Walking distance to the Museum of Contemporary Art, the Disney Concert Hall, the Central Library, the museums and art galleries are abound, and there’s always a selection of stage plays, movies and musical performances.

An abundance of choices are within walking distance. Some neighborhoods tout their mall as the special place to be. When you live in Downtown LA, you have malls, too. But beyond the ordinary shopping experience, downtown has boutiques, speciality outlets, and entire districts from which to choose. Shopping bonanzas at wholesale prices, like the Fashion District, the Jewelry District, the Flower District.

Even though the area offers almost everything a great city can offer, residents need to get out and it’s quite easy to do! The area has a convenient terminal for the blue line at Pico and Union, making it easy for the residents to hope on the Metro and be transported quickly to the major hub of Los Angeles, Union Station.

The feaure property in this Post is The Flower Street Lofts
1130 S Flower Street # 108 is two bedroom and Two bath Listed at $766,000  #flowersteetlofts #DTLA

Get free information about real estate litigation 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

Flower Steet Loft
Live Work Space Apartment 108

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.