PRICING YOUR LOFT TO SELL FAST FOR THE MOST MONEY

little-tokyo-lofts-courtyard-phThe Washington Post just reported that overpricing a home by a can be a costly mistake for a seller.  The article states that putting the right price tag on a home right out of the gate gives the seller the best opportunity to maximize the return on investment because the excitement of a new listing attracts the peak number of buyers within a week. Sellers who start with a price that is too high can be missing the best opportunity to gain the attention of the largest number of buyers. This often results in a longer selling time and lower price.

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Many sellers don’t realize that home buyers are comparison shopping.  Just like car buyers, the home buyers focus on the homes that they feel represent the best value. Most home buyers are reluctant to place an offer on overpriced homes. They eliminate them before they get to the showing process.

After about 30 days on the market, the listing is then considered to be stale. Buyers and agents will be begin to suspect that the property could have something major wrong with it, or that the seller is not serious about selling the property.  #lofts #prices

A new report has just been released which reveals 7 costly mistakes that most homeowners make when selling their home, and a 9 Step System that can help you sell your home fast and for the most amount of money. Get a copy of the free report at www.SellerMistake.com.

Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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L.A. and O.C. Home Prices Jump 6.1% While Downtown Los Angeles Home Prices Jump 8.2%

200-n-san-fernando-rd-105-028_320x240eThe Los Angeles times reports that home prices in Los Angeles and Orange counties posted strong gains in July, rising 6.1% from a year earlier.  That was larger than the 4.7% increase seen nationally, the Standard & Poor’s/Case-Shiller index showed. Compared with June’s figures, prices inched up 0.4% in the L.A. area. Downtown prices of course outperformed the rest of Los Angeles County, Orange County and nationwide.

National figures are not as bright. Sales of nationwide previously owned homes dropped 4.8% in August from a month earlier.

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And on Monday, the National Association of Realtors reported that pending sales — based off signed contracts, not closed deals — fell 1.4% last month for the U.S.

200-n-san-fernando-rd-105-008_640x480 copyDowntown LA provides the happiest story because local homeowners gained an average $48,711 in home value this past year.  The naysayers who said a year ago that Downtown prices were “too high” have again been proven wrong. Downtown has yet again out-performed the surrounding area and the nation. Downtown Los Angeles home prices are up 8.2% in the 12 months over the previous year.

Here are the numbers for Downtown Los Angeles for the most recent 12 months, and the year before that (provided by the L.A. Loft Blog using MLS data as of 09/29/2015):

Last 12 months: 476 homes sold.  Average price of $640,574
Previous 12 months: 482 homes sold. Average price of $591,863

What's Your Loft Worth? Free quick, online home evaluation

How much is your home worth?  Get a free online home evaluation at www.HomeEvals.com

Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

button        button (1)        

SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

 

Copyright © 2015 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 necessarily associated with the home owner’s association, seller 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.