L.A. real estate news and insights.
Did you see what LeBron did to the Clippers last night? What a great comeback win for the Lakers! Maybe that's why Kawhi Leonard is selling his Downtown LA. penthouse...
This condo has 3 bed/4 bath, and 4,200 sq. ft. of living space.
The penthouse features city views, glass walls, wood floors, and 2 fireplaces.
Building amenities include concierge service, rooftop pool, spa, fitness center, and valet parking.
Asking price: $6,500,000
Text me for a tour at 818-445-7953.
Who remembers “The Noid" from Domino's Pizza?
Domino’s Pizza exec puts Bel Air villa up for sale.
8 bed/15 bath.
Asking price: $29,950,000
Text me if you want a tour: 818-445-7953.
Sofia Vergara & Joe Manganiello relist Beverly Hills estate at an EVEN lower price.
This Italian-style villa has 7 bed/11 bath, 11,369 sq. ft. of living space, and is on a 26,026 sq. ft. lot.
Asking price: $15,950,000
Text me if you want a tour: 818-445-7953.
An analysis from the real estate site Redfin finds that would-be homeowners now need to earn $200,000 or more in eight U.S. cities, including L.A. This is because the average rate for a 30-year fixed loan is now hovering near 7%. Mortgage payments rose by an average of nearly 46% over the last year.
The typical U.S. homebuyer needs to pull down about $107,000 a year to afford a median monthly mortgage payment of roughly $2,700. Only a year ago, your salary needed to be closer to $74,000.
But some locations are much, much more expensive than others. In L.A., the median home price is $823,500. That means, by Redfin’s calculation, you need an annual income of $221,592 to make the numbers work.
Don't like the terms of the offer you received on your home?
Send the buyer a counter offer!
You can Tell the buyer exactly what you need in order to make the deal happen.
Home loan interest rates are only expected to go higher and higher.
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This factor, along with more housing inventory will, in my opinion, send us into a buyers market.
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Do you think a buyers market is coming?
Having your condo complex FHA approved will allow you to sell your unit to everyone... not just those with a 10% + down payment.
That's because FHA buyers can put as little as 3.5% down.
More competition creates a bidding war.
More money for you!
Don't waste your time on a verbal offer.
If they are serious, they will put it in writing.
Have you ever received a verbal offer on your home?
When selling your condo, here are the 3 things(😅 🚗 👕)buyers are looking out for:
😅 Central AC/heat
🚗 Two private side by side parking spots
👕 In unit washer and dryer.
If you have all three, you may have a condo that will demand multiple offers.
What are some of the weirdest things you have heard home buyers say on a reality TV show or in real life? Let me know in the comments...
The dollar amount to paint your home may be a little different, but the fact remains that buyers always overestimate the costs of repairs.
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You are better off doing the paint job before you put your home on the market and getting top dollar for your home.
Worst case scenario 🔥 🔥 🔥...
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You close escrow tomorrow on your home.
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The buyer politely asks if she can have the keys today so she can start to bring over a few personal items.
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You give her the keys.
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She shows up, forgets to turn off the stove after cooking a gooey grilled cheese sandwich, and the house ends up burning down.
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Guess what!
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Your house burned down, not hers!
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It's not her house until tomorrow, remember.
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She now backs out of the deal at the last second and you are now left with a pile of ashes.
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DON'T GIVE THE KEYS TO YOUR HOME TO THE NEW BUYER UNTIL AFTER ESCROW IS OFFICIALLY CLOSED AND THE TITLE OF THE PROPERTY IS IN THE NEW BUYERS NAME. 🔥 🔥 🔥
In episode 14 of The #AskDanielLosAngeles Show, I answer the following 4 real estate questions:
1) The buyers asked if they could start moving in to my house the day before we close escrow. What do you think? Should we let them?
2) I talked to a couple of different real estate agents and they all had different opinions on what my home is worth. Who do I believe?
3) Do you have cash buyers? I want to sell my home fast, as is condition, and to a cash buyer.
4) I called 7 agents to help me find a house for rent. I received 0 calls back. why don’t real estate agents want to help me find a place to rent.
We have over 8,500 followers on Instagram... come join us! @DanielLosAngeles Thank you for your attention!
Thank you, thank you, thank you, to all my friends and clients who send me referrals! It's because of you that my business continues to grow!
What do you think will sell faster and for more money?
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A used car that has been cleaned inside and out and has a nice wax job... or the same car but dirty with bird crap all over it and fast food wrappers in the back seat?
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Obviously the clean car!
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Take pride in your home and get it cleaned before your very first showing.
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You are the only one who can control that aspect of the sale.
