Author: Igor Nastaskin
Why You Should Self-Disclose Your Home’s Flaw When Selling
Selling your home can be enough of a challenge without you inadvertently undermining the process. When you want to sell your home to a buyer who is genuinely interested and qualified, you should disclose any and all flaws in your home. You may ask yourself why you would reveal information that could scare the buyer away. You should reveal your home’s flaws for these important reasons. Pricing Your Home When you disclose your house’s faults upfront, you can negotiate the asking price fairly. If a buyer finds out these faults on his or her own, that person could come back and demand that you lower the price. With this information provided upfront, however, the buyer knows what that price is buying and understands the reason for your pricing. Keeping the Sale Putting the faults of your home out in the open for buyers to consider can help you find someone who is genuinely interested in buying it, regardless of what those flaws may be. For example, if you have done some electrical work without a permit, you may still find a buyer who is capable of making the needed repairs or can live with the work you have already done. This information being available right away also helps the sale go through without legal challenges in the future. You can sell your house and move on with your life. You may question why you would let buyers know about your house’s flaws while selling your home. You should disclose this information for these important reasons. Have questions about pricing your home and disclosure of your home’s flaws? Contact me today. I’m happy to help.
5 Tips for Living in Your Home While It’s on the Market
Living in your home while you are trying to sell it can be a challenge, but these five tips will help you stay comfortable without compromising your chances of selling your home. 1) Sort through your personal belongings to get rid of the clutter. Keeping your space as open as possible will make your home look bigger to prospective buyers to make selling your home easier. 2) Consider keeping personal items in a storage unit while you make the transition. Photos, posters or knick-knacks that appeal to your taste may make it difficult for buyers to picture themselves living in your home, and getting these items out of the way can help you sell faster. 3) Keep your home ready for company each day to be sure that you are ready for a showing. While most home showings will be planned in advance, you never know when a prospective buyer will want to drop in on little notice. 4) Focus on keeping only the items you use on a regular basis in your home. For example, a few kitchen utensils, pots and just enough place settings to serve your family will suffice in the kitchen until you move. 5) Rearrange your furniture into a configuration that helps the space to flow logically. Buyers want to picture the possibilities that they can take advantage of after buying your home, and placing your furniture in a way that makes sense for the space instead of using what works for your family in particular is a more appealing package to present to prospective buyers.
The Ultimate South Bay Backyard
It might be December, but we’re lucky to live in a climate that allows for year-round outdoor fun. If you need ideas on how to make the most of your yard 12 months a year, here are some of our favorites. Add an outdoor kitchen. BBQs, grills, outdoor fridges, and sinks have inspired numerous parties and family-centered entertaining in luxury South Bay homes. Imagine making a feast for friends while watching your kids swim – pretty nice. They also add a great resale value to your home. Stone, brick, concrete, and more can be used to create a unique space just for your home. Outdoor lighting can make any backyard or front terrace seem magical. Think about a fire pit for extra illumination, making it so that the yard can be cozy even during a South Bay winter. Water features, such as fountains, waterfalls, and koi ponds can make your outdoor areas transform into a natural, relaxing, and peaceful respite from PCH traffic. The sound of trickling water is one of the most calming sounds you can find in nature. Finally, think of creating a native, drought-resistant plant garden. California poppies, Purple Nightshade, and various cacti all make wonderful additions to a garden on top of attracting butterflies. These native plants will help save water while making your property more beautiful. For resources on native plants in the South Bay, go to www.sccnps.org/plants-of-local-interest What are you favorite tips for making the most of your yard?
What South Bay Homebuyers Looked for in 2014
It’s been another great year living in the South Bay, so it’s no wonder that demand remains high in the area while inventory stays low. Throughout 2014 I’ve noticed a few key trends in what homeowners and buyers are now looking for in their homes. First, don’t underestimate the desire for South Bay residents to go completely green. The sustainable movement is alive and strong in the Beach Cities as residents strive towards an environmentally-friendly and smarter lifestyle. Green-energy homes are in top demand and will continue to be in demand in the new year. Energy-efficient appliances, solar power, excellent insulation, and native-gardens that use less water are the top desires for new buyers. Homes that have any of these energy- and money-saving features are going to be at the top of potential buyers’ lists. Buyers are willing to downsize for a great view, too. If there’s a glimpse of the ocean from a balcony, some buyers will be willing to forfeit an extra bathroom or a larger backyard. Homeowners enjoy efficiency and well-used spaces, so beachfront properties in Hermosa Beach and Manhattan Beach will be extremely popular. Baby boomer homeowners are also looking for homes that make sense for them to grow old in. For many, this means a trend toward downsizing, as well as taking into account the floor plan. For some, of course, there’s also the surroundings — there’s nothing like opening your backyard and walking out onto the sand when you hit retirement.
Redondo Riviera Homes Sell For Cash
Many markets throughout the United States are experiencing a major increase in the number of homes selling for all-cash, and the South Bay is no exception. In fact, a record number of home buyers are avoiding the mortgage process altogether and paying cash for Redondo Beach properties. Approximately 30% of buyers seeking home properties not for investment use, but to live in, are paying cash. Most of these all-cash buyers are retiring baby boomers, according to statistics from the National Association of REALTORS. Older home owners have decades of home equity and don’t want the hassle of the mortgage, so when they buy a new property they want to use all cash for the transaction. So many baby boomers want to be close to the ocean in a neighborhood, like the Riviera, that is walkable and away from the hustle and bustle of Los Angeles living. If you have a Riviera home and are thinking of selling, contact me to find out how we can attract all-cash offers on your property while the buyers are out there and ready to make a deal.
Which homes won’t be for sale anytime soon?
In my experience, there are several types of properties that are usually not going on the market anytime soon. This can be difficult for potential buyers that are eager to buy property in the South Bay, as prices are steadily creeping up, but use these as gauges to predict which homes will, or will not, be on the market in the Hollywood Riviera anytime soon. I recently had some of my ideas confirmed by an article titled “Why Aren’t There More Homes for Sale?” on Redfin. About 19 percent of homes in the US right now are what is considered “low equity”. This means the owner of the property owes more than 80% of the value of the home and is, therefore, not in a position to sell. Many of these homes were purchased during the last housing bubble and are now worth less than what the owners paid for them. These owners are going to wait until property values go higher than they are now so they can break even, if not make a profit on their investment. Homes with a low mortgage rate are also probably not going on the market soon. About 16% of all homes owned right now have excellent mortgage rates and the owners are not going to sacrifice those great rates for possibly higher ones with a new property. Homes that have been refinanced or purchased in the last 7 years are also probably not a likely contender for listing. Most homeowners stay at least 7 years, on average, in properties they purchase if they live in that property. Last, homes purchased by investors are probably being held as investments, for rental income or potential resale in a future market where home values have raised more. Only “flippers” and new home builders are investors that will be turning out new listings in the near future. Unfortunately, that doesn’t solve our low inventory issues at the moment.
Let Me Show You the Hollywood Riviera I Love
I have sold more homes here in the Hollywood Riviera than any other agent. My success is because I love what I do and I genuinely believe with my whole heart that the Hollywood Riviera is the most wonderful place in the world. Let me show you around in this video so you can share my vision of how truly wonderful this part of town is. I made this video for you – so you can get to know me and get to know my favorite section of the South Bay. Enjoy.
If you list your South Bay property, you just might get all-cash offers
More and more, all-cash offers are king in South Bay real estate, even when it comes to luxury properties. Several of my recent clients have made all-cash offers on properties they fell in love with, and likewise, I’ve listed properties where the cash offers have come pouring in. There is a higher demand than ever for luxury property, especially in the beach cities and areas like the Hollywood Riviera. Let me give you some perspective on the matter: from 2002 to 2003, cash sales made up only 4% of purchases of all real estate in the United States. Today, in 2014, that number is 32%. More and more buyers are able to put down all cash and not bother with a mortgage at all, which is wonderful news for anyone thinking of selling their Redondo Beach luxury property. As the local expert on all things Riviera Village and Redondo Beach, I’d like to ask you to feel free to come to me about any questions you may have about what type of offers you can expect on your home, how long your home may be on the market, and what would be an appropriate listing price for your property right now based on the local trends.