Archive for May, 2009
Beverly Hills – 5 things To Know Before Putting Your Home Back On The Market!
May 28th, 2009 categories: Sellers
If the listing or marketing agreement you had with your real estate agent and his/her company has, as the real estate industry says, “expired,” and you are looking to re-list your property, make sure you educate yourself on the many vital factors that will influence the sale of your home.
Remember, there is only one reason why your home didn’t sell…and it isn’t price. While price is certainly one of these marketing factors, it is not the only reason why your home did not sell. As you re-evaluate the proper pricing strategy for your home, request an updated market analysis from your real estate agent, and make sure it details the current pricing trends for your overall marketplace including:
- Days on the market for properties in your specific price range
- The list-to-sales price ratios for homes that have sold (the more recent the better)
- Square footage cost (ask agents how and if cost per square foot may be relevant to price
- The number of price reductions or, where applicable, the number of price increases
- The number of homes currently active in your price point
When re-evaluating price, keep in mind that in specific circumstances, a lower listing price can actually lead to a higher selling price. Because the laws of supply and demand essentially govern all pricing, a lower asking price can generate more offers on your home, ultimately resulting in a higher sales price. Discuss the current supply-and-demand metrics that may be influencing home values in our neighborhood with any agent you’re considering working with.
If you have any questions, please feel free to contact me at: kathy@kathyvilla.com
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Selling In Beverly Hills – Makeover Your Home For Best Value
May 26th, 2009 categories: Home Improvements and Design, Sellers
A cosmetic make-over of your home may be just what the doctor ordered. If you are preparing to sell your home, making some much needed updates will add value to your home.
The objective is to take on easy cosmetic jobs, such as a fresh coat of paint or re-landscaping the yard. I know some people will tell you that remodeling the kitchen is your best bet, however, while the kitchen is one of the high-profile rooms in a home, remodeling is a very costly endeavor that may not provide you with an adequate return on your investment.
Below is a list of improvements you can make in your home:
Bathroom-
- remove stains from the toilet, tubs and sinks
- update fixtures if old
- fix any leaks
- replace towels and shower curtain for new up-to-date looks
- inspect /fix all worn out grout in tiles
Kitchen-
- Make sure faucet works properly – repair if needed
- Keep sink spotless – remove all stains and if unable to fix, replace
- clean all appliances and make sure they all work properly.
- repaint cabinets if necessary
Living/Bedrooms-
- patch cracks in the walls and touch up with paint. Consider a fresh coat of paint for these rooms if needed.
- have the curtains and/or drapes cleaned as well as the carpet.
- polish wood floors and update comforters if needed
- In bedroom – clean out your closets! Organize!
Exterior -
- Curb appeal is essential to selling a home – have your stucco or brick professionally power-washed if needed
- touch up paint – give your front door a fresh coat
- Inspect the roof and clear away all debris
- get your grass trimmed as well as your trees – landscape the yard
If you have any questions, please feel free to contact me at: kathy@kathyvilla.com
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6 Westside Tips On How To Sell Your House In A Buyer’s Market~
May 22nd, 2009 categories: Buyers, Sellers
As the supply of homes for sale continue to grow, selling your home may take some negotiating. Below is a list of 6 tips on how to sell your home in a Buyer’s market:
- Price It Right – The key to selling your home is to “price it right”. Set the price at what you can get, not what you think its worth. The only thing that matters is what a buyer is willing to pay. You don’t get to over-price your house because buyers ignore it and your listing will lose its freshness and appeal.
- Research Local Market – The best way to know if your home is priced fairly relative to comparable houses on the market is to compare your asking price to a comprehensive analysis. This is something, we your agent can do for you. This is the first step before you list your home.
- Have An Internet Strategy – Most buyers will research the Internet about 12 miles within the frame of where their existing house is. Use the Internet tools available in your area to see what the supply of homes for sale in your area look like online. Also, use a realtor – don’t choose the realtor who will price your property the highest – make sure you use someone who gives you the facts and let’s you know what your home really is worth.
- Make Your Home A Great First Impression- This is called “curb appeal” – fix your hope up. Make the needed changes before putting it on the market. If you need to re-paint your kitchen, do it. Typically, buyers know the house is “the one’ when they see it the first time. Do whatever it takes to get your house in selling-shape.
- Get A Pre-Sale Inspection – This is strongly advised. Consider getting your home a pre-sale home inspection. This inspection will allow you to know what needs to be fixed prior to selling. It’s advised to make the repairs before listing the home if possible. But if you can’t make the repairs, you can use the report to make estimates available to show to potential buyers.
- Be Flexible – In this market, flexibility is key. Buyer’s will expect to pay less than asking price. Many buyers may make a low-ball offer to see what your reaction is. Your objective is to sell the house, and if a buyer is truly interested, they will negotiate.
If you have any questions, please feel free to contact me at : kathy@kathyvilla.com
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Beverly Hills Real Estate Buyer’s Market – Take Advantage!
May 21st, 2009 categories: Buyers, Sellers
After several years of real estate being a Seller’s market, its finally a buyers market! New home builders are trying to attract prospective homeowners with high-end appliances, swanky flooring and other exciting perks. See, builders are doing anything to persuade a potential homeowner by offering incentives because they have an overabundance of inventory. Also, homeowners TRYING to sell are in the exact same boat.
One of the main reasons it’s a buyer’s market is becuase of the higher mortgage rates. The average 30-year fixed rate is up more than a point in the year per ABC news.
The realty is, if you want to sell your home, you are going to have to lower your price. We have been telling all of our seller just this and when you price a home correctly, it sells!
With any questions, please feel free to conact me at: kathy@kathyvilla.com
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Reduction At The Wilshire! Check Out Townhouse #J
May 18th, 2009 categories: Buyers
REDUCTION!Life.Style.Luxury: 10580 Wilshire Blvd, #THJ, Los Angeles, CA 90024 – $3,250,000
Rare opportunity to own stunning townhome in The Wilshire, one of the best buildings on the Wilshire Corridor w/full service, 24-hour amenities. Unique two-story, lobby level unit beautifully appointed with the finest quality throughout. Spacious living room and dining area open onto your own private patio and garden area with private gate to the pool. Bright and sunny kitchen and breakfast area overlooking your own backyard. Three bedrooms upstairs, which includes a lovely master suite. Price reduced from $3,695,000 to $3,250,000.
Click for Virtual Tour – www.10580wilshirethj.com
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New Lease! 9374 Beverly Crest Dr. Beverly Hills, CA 90210
May 15th, 2009 categories: Buyers
Life.Style.Luxurious: 9374 Beverly Crest Dr., Beverly Hills, CA 90210 Lease Price: Short Term $50,000.
Can be leased for 1 month for $60,000. Absolutely stunning architectural w/head on city/ocean views gated & private from street. Spacious entry w/walls of glass leads to floating glass stainless steel staircase. Drop dead gorgeous Mbr suite w/Fireplace, Hugh bathroom, walk-in closets & massive wall of glass for incredible 180 views. The sleekest & most dramatic LR, DR, kitchen & media room you’ll find anywhere. 4 fabulous BR suites, plus pool and head on view.
Lease Price: $50,000 for Short Term and $60,000 for 1 month
Click for Virtual Tour: www.9374BeverlyCrestDrive.com.
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Mortgage Market Update from Justin Bayle
May 12th, 2009 categories: Money and Mortgages
Merry Tuesday,
After getting beat up a little last week after the FED meeting announcement and other economic reports indicating the recession may be slowing, Mortgage Rates have rallied back yesterday and are looking good so far this morning. That’s good news in light of the benchmark 10 year Treasury Yield being up nearly 40 basis points over the past few weeks.
These is something special I’d like to call your attention to this week:
I have ( and have had for quite some time) access to LIVE Mortgage Backed Securities trading data. Why is this important? Because I can see the trends in the mortgage market on a minute-by-minute basis and usually have a 15-20 minute lead time over other mortgage market alert services regarding potentially significant movements. THIS IS IMPERATIVE IN BEING ABLE TO LOCK IN THE BEST POSSIBLE RATE FOR YOU OR YOUR CLIENTS. In this extremely volatile market with significantly longer underwriting times, rate changes can come fast and furious from lenders especially during periods when rates are deteriorating. That 15-20 minutes can mean all the difference in me being able to lock your loan and beating the lender to the punch on reprices. Snapshot below of what I see all day long.
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5 Answers To First-Time Home Buyer Tax Credit
May 11th, 2009 categories: Buyers, Real Estate News
A lot of people want to know more about this first- time home buyer tax credit. Below is a breakdown for you:
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers”. Reator.org
- Who Qualifies – First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009. In order to qualify as a “first-time home buyer” the purchaser may not have owned a residence during the three years prior to the purchase.
- Which Properties Are Eligible? This first-time home buyer tax credit may be applied to primary residences, which include: single-family homes, condos, town homes and co-ops.
- How Much Will The Credit Be? The maximum allowable credit for home buyers is $8,000. This amount is determined by two factors: a) The price of the home – the credit is equal to 10% of the purchase price of the home, up to $8,000. b) The buyer’s income – single buyers with incomes up to $75,000 and married couples with incomes up to $150,000 may receive the max tax credit.
- If The Buyer’s Income Exceeds These Limits, Can He/She Still Get A Credit? Yes, some buyers may still be eligible for the credit. The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the max of each single (over $95,000) or married (over $170,000) are not eligible for the credit.
- Will The Tax Credit Need To Be Repaid? No, it will not. The buyer does not need to repay the tax credit if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, then credit will be recouped on the sale.
If you have any questions, please feel free to contact me at: kathy@kathyvilla.com
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6 Tips To Getting The House You Desire in Los Angeles
May 7th, 2009 categories: Buyers, Real Estate News
Right now it’s difficult to see past the economy and oftentimes people don’t think they can get what they want. I have 6 tips below that will help you relax about the desired home and practice patience and confidence in what you are looking for:
- Practice Patience – There may be another wave of foreclosures expected to hit the summer and with the uncertainty about whether the recession is easing, real estate in Southern California may have yet to reach their bottom.
- Realize – Bargain deals are around the corner. You just need to negotiate and oftentimes a Seller feels because they have put time/money into their property, their property is worth more, this is where you may differ in opinion. Call your agent and begin the negotiation process.
- Be cautious – Terms like “Buyer’s Market” is being thrown around quite a bit. There are many deals and you need to know that it’s a good time to buy, but not everyone who Sells needs to sell, so some deals are what they are.
- Be Prepared – f you’re interested in a home in a desirable area – be ready for some serious competition and potential bidding wars. Another reason to have an agent – they will get you in the home before the chaos begins.
- Use The Web/Internet – This is a great way to find things on your own, but having an agent gives you the “new” before the new comes out. Websites like, Redfin or Trulia are great resources as well.
- Appreciate – not every bid is the same. A motivated Seller may favor an All-cash offer over one using conventional financing.
If you have any questions regarding the above Tips, please feel free to email me at: kathy@kathyvilla.com
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Home Sales Jump Nearly 66% In Los Angeles!
May 4th, 2009 categories: Buyers
Home sales jumped 65.5% in the Los Angeles area in March, compared to the same period one year ago. This is great news for Buyers! Just know that now is a great time to buy!
The median price of an existing single-family home in Los Angeles was $295,100 in March, compared to $308,540 the previous month and $433,400 last year last year from the California Association of Realtors.
Statewide, the below 10 cities with the highest median home prices in California were:
- Santa Monica -$755,000
- Danville – $738,500
- Santa Barbara – $735,000
- Mountain View – $700,000
- Redondo Beach – $630,000
- San Ramon -$621,000
- San Clemente – $620,000
- San Francisco – $617,000
- Santa Cruz – $610,000
- Yorba Linda – $561,500
If you are interested in more statistics, please contact me at: kathy@kathyvilla.com or are interested in purchasing a home.
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