This brunch was a very meaning event for me. For many of those who came it was their first outing since the onset of Covid. The music was enchanting, and the guests were wonderful. Just another perfect morning in Altadena.
The San Lyon Swing Jazz Quartet scintillated with their rendition of Belleville Rendez Vous. This is my favorite and therefor it was dedicated to me!
More examples of the the amazing talents we had the privilege to enjoy.
Have you ever heard about seasonal real estate patterns? You know, sellers hold off selling during the holidays and buyers put off buying. Then Spring time comes around and everyone jumps back in. Well sellers, here are a few reasons you need to list your house right now and don’t wait after tax season.
1. There’s a shortage of houses for Sale – Buyers are looking for houses right now, and with today’s record low inventory, the chances of your house getting noticed is REALLY high.
2. There’s less competition with other sellers. – Other homeowners may be waiting until later in the year to list, which gives you a headstart, and a leg up on the competition.
3. Mortgage Rates are Low but Rising – Buyers want to purchase before rates move higher, which means they’ll want to act quickly
Don’t wait 6 more weeks. Let’s connect today – so you have the competitive edge by selling your house while the selling is great.
In a market as nutty as this on has been, buyers are going to great lengths to win a bid and get a property into escrow – including releasing contingencies! 😧😧😧
Should you do it?
That’s what we’re talking about in today’s show.
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.
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.
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
Steve
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.
Summary
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.
