For every one of you out there who owns a property, you KNOW you’ve got a magic number. What is it? PM me. Because I’ve worked with a LOT of sellers recently who listed their homes and actually GOT their magic numbers…and then some! This is an unprecedented time in real estate. If you’ve ever considering selling your home, this is probably the time to investigate it further, because you might be pleasantly surprised with what the market brings.
So you worked hard to win a bid and get into escrow…but now you want to cancel. Not to worry! This is more common than you might think. Here are a few tips to help you understand the process of cancelling an escrow. The most important thing to remember is that you can get out of escrow for almost any reason – as long as you cancel before your contingency period is over. As long as you cancel before the period is up, you can walk away without fear of losing your earnest money deposit.
The reason you cancel isn’t even all that important. During your inspection period you can literally cancel because you think the house smells bad, or because the neighbors play their music too loudly. If there is any reason whatever that you feel the house isn’t a match for you, then you can walk away.
No one wants to go through the work of viewing a house, writing an offer, winning a bid, getting into escrow, and doing inspections only to have to cancel. However, should it come to that, know that you can back out with confidence.
Did I miss anything? Message me if you have any more questions.
Here are a few tips to help you understand the process of canceling an escrow. Did I miss anything? MESSAGE ME if you have any more questions.
Interested in how to sell your home for top dollar during a pandemic? In order to do so you have to understand a few things about the way that the concept of a “home” has changed as a result of the pandemic. Before the widespread shutdown of just about everything, you – like most Southern Californians – probably spent a great deal of time outside the house. Commuting to work, dropping off kids at school, going to the gym, going out to dinner, attending concerts…all of these things pulled us out and away from the few odd bedrooms and baths we returned to at the end of the day. And then Covid happened.
Overnight people needed their homes to stand in as a substitute for all those things that used to take place outside. From gym, to restaurant, from home office to playground here are a list of things you can highlight to make your home “HOT” in eyes of the new market.
- Top Notch Media and Marketing – Unbelievable video and photos are the new curb appeal. Gone are the days of open houses. Instead, buyers are relying on how well your property is presented online. This means professional photographs with drone shots, and stabilizers, compelling story-based videos, floor plans, and high end 3D interactive tours of the home. Once these things are created, there is an entirely separate necessity: the know how to market these things online, so that anyone in the market to buy a home like yours will see them.
2. Home Gym – Remember the days of waking up before the sun, and taking a Zumba group class, or pumping iron at the corner gym. Those days are gone. 24 hour fitness just filed for bankruptcy, and countless small private gyms are struggling. The need to exercise didn’t disappear though. When selling your place, set up a space that is clearly delineated as a home gym. You don’t necessarily need a dedicated room, but defined space in the corner of a garage, or family room with a gym mat, or some weights and swiss ball will go a long way.
3. Home Office – Working from home is the new normal. If you have a guest bedroom you never use, consider putting the bed in storage, and bringing in a desk, and filing cabinet. A nice blank wall for a Zoom backdrop, and a printer with phone, and strong wifi. A room beyond the standard bedroom count can be a valuable asset, distinguishing your home from all the others on the market.
4. Kitchens – Although kitchens have always topped the average buyer’s list of wants/needs, now more than ever before they make a home more desirable. There are very few places in LA County where you can go out for a meal anymore. People are taking their sense of culinary adventure to YouTube, and Cooking Shows, and recreating those events at home. A kitchen that allows for multiple people to cook comfortably together, or has easy access to the rest of the family is the new Spago. Accentuate what you have, or make small changes that show off your kitchen’s “chef-factor.”
5. Outdoor Space – These days, the more yard you have the better. People are getting into gardening, working out under the sky, and if you want to entertain, a comfortable outdoor space is a must. Show off the possibility for socially distanced socializing by setting up things like fire pits, outdoor speakers, small decks, and patio furniture.
6. ADUs – The Accessory Dwelling Unit is one of the most desirable features a property can have today. A separate space on one’s property can serve as anything from the list above. A quiet, clean spot for working, exercising, meditating, or just about anything your imagination can come up with is in more demand than ever. Even prefabricated sheds with a finished interior, insulation and electricity are bringing multiple offers from buyers looking for more space, and the feeling of getting away, even if for a few hours during the day.
These are some things I keep hearing about from clients. And whereas in the past they considered them luxuries, today they are considered essential. Thinking about selling and want some advice on how to accentuate any of these things? Give me a call and I’ll be happy to take a look at your current layout and give you some advice.
Until Next Time
This week in Altadena real estate there were 8 new listings that came to the market, bringing the total number of listings fr sale to 36. This is more in any given week than we’ve had in a while. The least expensive listing is $599,000 for a heavy fixer located at 476 Alvey. This one has been on the market a while and is probably overpriced. The most expensive active listing is $4,559M after a price reduction. Thhere were 5 properties that sold this week. The least expensive was $571,000 for a fixer on a large lot, and the most expensive was located in La Vina. A 3 bed, 2 bath home with some special features that made it stand out even in La Vina, such as a private lap pool made this property a pretty good value even at $1,265M.
New Listings – 8
Total Active – 36
Most Expensive For Sale – $4,559M
Least Expensive For Sale – $599,000
New Pending – 2
Expired – 0
Sold – 5
Most Expensive Sold – $1,265M
Least Expensive Sold – $571,000
There were 7 new listings that hit the market in Altadena this week, bringing the total number of active listings to 31. The least and most expensive were the same properties from last week. 1 property went pending, and no properties expired. 3 properties closed escrow this week. The least expensive was located at 2141Lake Ave, and sold for $790,000. This was an interesting home located in a commercial zone, which made it someplace you could live or work. The most expensive sale was located at 1270 Rubio. This was a 4 bed/4 bath 5500 sqft estate, on 1/2 an acre. This exquisite home was designed by architect Harold Bissner and went into escrow in only 4 days.
New Listings – 7
Total Actives – 31
Lowest Priced Listing. $595k
Highest Priced Listing. $4,675M
New Pending – 1
Expired – 0
Sales – 3
Least Expensive Sold – $790,000Most
Expensive Sold – $3,650,00
So now that I’m solidly in remission, this is what I look like.
Most realtors will tell you that “open houses don’t get properties sold” This simply isn’t true…as long as you throw a #MEGA OPEN HOUSE. When I have been hired to sell a property for top dollar I won’t be sitting around with a row of water bottles, and snacks laid out on a table, praying a potential buyer stops by.
Instead, I will engineer a specific plan for your home, based upon the architectural style, the price point, the condition, and the neighborhood. It is typical that 90-130 people will attend. I might hire a jazz band for a sit down champagne brunch. Or I might have a good old fashioned backyard BBQ. There might be raffles, wherein we give away a gift certificate, or even an ipad. It all depends on your property and what it calls for. That comprises the event. But more importantly is the lead up to the date itself.
Through a detailed step by step process, my team and I will identify the profile of the most likely candidate to buy your property. In addition to standard blanket advertising, we will reach out to buyers that might have a unique interest in your property. Do you have stables? We might identify owners of horses. Is your home an original Mid-Century Modern built by a noted architect? We might identify enthusiasts of the Case Study Homes. We might seek buyers with certain income levels, or who work in a certain proximity to the subject property – the filters are endless. We will reach out to these people via social media, proximity marketing technology, or enthusiast websites and spend the money it takes to be sure that they see your home, know it’s for sale, and have an event that is interesting enough to compel them to attend.
These are just some of the things I do. Want to find out more? Just give me a call or fill out the contact form and either I or someone on my team will get back to you. I can tell you one thing for sure. No matter what we plan for your home, it will sure beat sitting around with a bunch of snacks and a prayer.
About 100 different groups came out to enjoy the open house/jazz brunch on Mariposa. Property sold for all cash with a 14 day escrow.
I just love it when a plan comes together!
Saturday marked a night of great music in Altadena with two fantastic musical combos playing at two very different, but very satisfying venues. I started the evening out at The Folly Bowl, a cool and intimate space to enjoy live performances. The Folly Bowl is located at a private residence in Altadena, with an amphitheater built into the hill in the backyard. Altamusica commanded the stage with a clean cut through the swath of jazz styles, playing some originals, as well as beloved standards. The weather was beautiful, and the crowd was very relaxed, taking in the setting scored by an evening of jazz.
I had to pull myself away, because a little way down the road at Farnsworth Park, Bleeding Harp was rocking a crowd of dancing, clapping fans. The Blues Rock combo was loud, and satisfying, the perfect counterpoint the quiet intensity of Altamusica earlier in the evening. With this kind of musical scene going on, it’s no wonder so many people want to move to Altadena. Many thanks to everyone that worked together to make all of this happen.