tips and tricks – Page 3

New strategies and tactics for lofts, condos, apartments and houses in the L.A. market

REAL ESTATE NEWS

The more things change, the more they stay the same. Buyers, sellers, renters, landlords and investors can take advantage of this year’s cooling real estate market. Here are the best Tips and Tricks for Los Angeles real estate in 2020. #losangeles #realestate #market #news

Stop Renting — Owning a home has nearly 100% chance of long-term financial success, equity growth and wealth building. Paying rent is unfortunately a 100% financial loss. Renting is especially ironic for those who don’t move often, who plan to stay put for many years. In 2020, renters can buy an amazing loft with 0% to 2% down payment. #tipsandtricks

Buy low and sell high! While most investors are aware of these key factors to financial success. Home buyers and sellers often forget about the money gain and long-term financial benefits of buying at a low price and then selling at a higher price.

TIME TO STEAL A HOME

Low-Ball Offers – The beginning of today’s buyers market is the time for buyers to start placing offers that are much lower than the listed asking price. Buyer’s home purchase offers may include a list of comps and statistics showing falling home prices and declining economic news. This tactic is often successful when there are few other competing buyers, which is the case for most properties in 2020.

Buy the ugliest home in the best neighborhood – This is always one of the easiest rules for investors. Buying the less attractive property on a desirable street allows home buyers to get a lower price, fix up the property in a way that they like, and end up gaining a lot of extra equity and financial well-being.

2020 strengthening buyer’s market — Buyers may ask the seller to pay some of the buyer’s expenses such as closing costs, loan costs etc.

Buy multi-unit duplex, triplex, 4 plex etc. – Because 2020 has equal potential for boom, bust or stagnation, a multi unit gives more options and flexibility for home owners to maximize income, to increase quality of life or to reduce expenses by having more rent-paying tenants or stretch-out and gain elbow room, using more space when financial times are good. | VIDEO

HOME SELLING TIPS:

Consider starting with a pocket listing to offer an exclusive opportunity for prepared buyers who can make a quick purchase. With a pocket listing, the seller may take their time selling the place with less stress.

Appraisals may soon start to come in too low in 2020. A cash buyer, or buyer with extra down payment can make up for a low appraisal.

Escrows are slower than they were a few years ago. Some transactions fail after incurring expenses for the seller. Some buyers are unable to obtain financing. Sellers should check the contingency terms and time periods. Around 17 days is most common. Sellers should pay careful attention to extended contingencies.

Delays are common. Be sure to allow plenty of extra time for closing, and extra money for unanticipated costs.

Sellers are required to provide latent defects to the buyers that the sellers have knowledge of. Prevent cancellations and lawsuits by disclosing defects, broken items and problems up front. This includes anything that may affect the value of the property.

Ensure that a carbon monoxide detector has been installed before the inspections. Make sure smoke detectors are the newest kind with a 10-year SEALED battery.

For condos, provide the listing agent with HOA contact information, HOA dues, move in fee, move out fee and HOA move in security deposits. Provide the parking space numbers also.

Sellers must keep all utilities on during escrow until after the inspections and repairs are completed.

Get a free list of the best investments nationwide starting under $100,000. Fill out the online form:

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Los Angeles new tactics and strategies for real estate in 2020

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.

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:

<a href="https://laloft.wufoo.com/forms/r1soyr1r1g8l5ws/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]