You are thinking of selling your Los Angeles home and have an idea in your head of the price.  After all you paid a certain amount for it and should be making a profit on it, or at least getting your money back out.

And, this is how your see your home, after all it is your palace:  How a seller sees their home

You should get your money back and more, right?

Not necessarily.  If you bought at the height of the market, right now you would be selling at or near the bottom.  And even if you bought after prices dropped, they have been going down for the past 6 years.  It is unlikely that you are going to make a profit or break even.

Unfortunately, the only way you are going to sell your home for more than you bought it is if you put visible improvements into it such as upgraded bathrooms, kitchen, square footage, pool, etc.  But then you spent money to make those improvements and you may not see it all back.

Sellers are sellers and buyers are buyers and never the twain shall meet.  Buyers today are extremely sophisticated.  They know the value of a home and are rarely swayed by emotion.  They are not going to overpay and so setting the price for your Los Angeles home is extremely important.Se

A buyer's vision of a homeThis is how a buyer sees your home:

Unless your home is fully upgraded and turnkey, a buyer is going to count the money they are going to have to put into it and add it to the cost of buying the home.  They will have seen similar properties and know how yours compares to them.  The same goes for the appraiser.  If a buyer is getting a loan then an appraisal will be done to determine the value of the home.  Emotion is definitely not a part of this process, and if it doesn’t appraise for the price the buyer will not be getting the loan.

You cannot force the market.  Timing is everything.  If you don’t need to sell wait until you at least get your money back or make a little on it.  If you do need to sell your Los Angeles home price it right.  You will save a lot of time and aggravation and, with the low inventory and pent-up demand, you will sell it quickly.

If you are thinking of selling your Los Angeles home, your Realtor® will help you determine the right price.

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919. You may also request a Market Snapshot of your area of interest.



Read more: http://www.homejane.com/selling-your-los-angeles-home-how-to-price-i.html#ixzz20WWrmDL2

Jane Peters, connecting you to the L.A. real estate scene

Buying or selling real estate in Los Angeles can be an overwhelming process.  Contact Jane Peters, Los Angeles realtor specializing in absentee owners, out of town buyers, and those who need that extra attention, in order to make the transaction a smooth, trouble-free, and fun experience.

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17 Comments on Selling Your Los Angeles Home? How Are You Going to Price It?

JUL
13
1,023,711 Points 15 Featured Posts Localism Sponsor Outside Blog Called Shot Master

The photos - How you see it/How they see it is funny and so true.  
10:34am • #1
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gene,  indeed :)
10:37am • #2
570,707 Points 25 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Jane - So true, so true!  Pricing is so important, and it can be very difficult to separate the business of marketing a house from the emotions of turning your home over to someone else.
11:21am • #3
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Susan,  yes it is tough for a seller to let go.
11:39am • #4
402,380 Points 8 Featured Posts Outside Blog Called Shot Master

Jane - You've done a great job in explaining to sellers where the market is at, and what to expect if they purchased a Los Angeles home in the past few years and need to sell it today.  Understanding that prices may not be where they want them to be at is the first step to correct pricing.
12:46pm • #5
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Laura, thanks. It is tough to sell when you are not going to get back what you put in.
1:28pm • #6
187,196 Points 5 Featured Posts

But Jane, you forgot how the appraiser sees the property... (You should be viewing a dog house here.) :)
1:49pm • #7
981,444 Points 114 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

It's the truth and sometimes it's painful.  The "how the buyer sees it" is also how the lender might be viewing it too.
1:55pm • #8
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Kate,  actually, the picture is the Appraiser's.  I stole it :)

Carla,  yep, for sure.
1:56pm • #9
497,735 Points 150 Featured Posts Outside Blog Hit Router Called Shot Master

Your pics tell much of the story, Jane. And they provide a pretty clear snapshot of the truth of what our markets are experiencing.  I think slowly ... slowly ... we Americans are coming out of the "shock" delivered by this recession and seeing things as they are.  Prices had not really ever fallen before.  Totally un-American thing to have happen, you know?  Reality is creeping in ... because professionals, such as yourself, are so good at explaining it.  Keep on preachin', Jane ..

Gene
2:15pm • #10
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gene,  thank you. It is difficult for people to understand that what they bought 4 years ago has not increased in price, and my not increase much for several years.
2:17pm • #11
620,078 Points 97 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

The truth can be painful to sellers who know that although the market is shifting in some areas, it doesn't mean buyers are going to overpay for a home.  Even with significant upgrades sellers can't hope to look above market value.  They need to be careful not to "over improve".  Great post Jane!
4:11pm • #12
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Brenda,  thank you.  And improvements need to be targeted, like a new kitchen or bathroom, anything else and they can end up losing more money.
4:51pm • #13
JUL
14
606,097 Points 9 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Jane - great post, and even though the inventory is low, the homes still need to be priced at market value. Over priced listings do not sell, or they may get a low ball offer.

Love the photos . . . 
11:30am • #14
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Sharon, you are absolutely right.  Homes still need to stay at market price.
11:40am • #15
JUL
15
589,575 Points 31 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Funny how sellers always have a different picture in mind and you made that point!  I just had a seller call and want to list his house for $20,000 more when he just bought it a year ago!!!  He thought upgraded appliances would bring him more value
8:01am • #16
761,865 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Marilyn, that's exactly what I went through just now.  You would think that would be the case, but it just isn't.
10:55am • #17


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Jane Peters - Los Angeles Real Estate DRE# 01439865

Los Angeles, CA

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Power Brokers Int'l

Address: Beverly Hills, CA, 90210

Office Phone: (310) 473-6919

Cell Phone: (310) 473-6919

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A Los Angeles Realtor® specializing in absentee owners, out-of-town buyers and those needing extra assistance with one of the most important transactions of their lives. Just sit back and relax! You are in capable hands.

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