Should I sell now or later? This is a standard question, please read..

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708

Selling a home in today’s market certainly has its challenges, not only in the Greater Los Angeles area, but everywhere. Let’s add seasonal factors depending on where you are selling your home.  It’s worth mentioning the holidays, having children and/or pets to what I call the ‘extras’ for planning on selling a home.  The key factor is proper preparation. (I haven’t even brought any current political concerns into the picture.)

www.endrebarath.com

If you live in LA and are considering selling but waiting, a date to keep in mind is April 1st 2023 when Measure ULA, as passed by voters this past November, will take effect.  Measure ULA means that properties that sell above $5 million will be taxed an additional 4% after April 1st, 2023. Properties that sell over $10 million will be taxed 5.5%; this is in addition to transfer taxes. You may ask “how does this affect me?”  All commercial and residential real estate will be affected by this Measure. Incorporated cities such as Malibu and Beverly Hills proper are not affected.

www.endrebarath.com

Let’s now consider marketing time.  The average luxury home can take 160 days or longer to sell, provided everything is in line, including price point and having the home in the best light.  Imagine walking into a freshly built subdivision, there is always that one home that has all the bells and whistles. It is properly staged, and from the moment you walk in you are immediately feeling good about the home.

The above strategy should be used on your own home as well, meaning not only should it be inviting, it must be well staged too. When I meet with potential sellers, we discuss all the details and critical points to have their home showroom ready.

www.endrebarath.com

My best advice to Sellers is: “think like a buyer”.  How would you feel (as a buyer) if the bed is not made, the house is not clean, and overall, it just looks messy and unkempt.  If you have kids, toys should be put away or neatly stored so as not to detract a buyer from focusing on the home itself. This same rule of thumb applies to pets;  keep in mind that some people are allergic to pet hair/dander hence it is good to do some extra dusting and vacuuming before a showing.

In conclusion do not wait for January (or April) to sell. 

 

www.endrebarath.com

 

 

 

 

Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly! If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 ( m) homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com I contribute a portion of my commission to local animal rescue organizations. Endre Barath, Jr. Realtor at Berkshire Hathaway HomeServices California Properties DRE#01238708

Comments (30)

Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Endre those are some pretty hefty add on taxes taking effect next April. 4% and 5.5% ....where is all the tax dollars going.   But back to your subject....staging a home properly as well as professional photos- both imperative, in my mind, in any market.  It's how we've been selling homes for many years. Parade Ready!

Dec 01, 2022 09:25 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Endre Barath, Jr. - All I can say is that California is out of control...I will leave it at that. 

Dec 03, 2022 02:56 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Such sage advice, Endre, particularly in light of the new, additional 5.5% sales tax. You're so right - with that additional tax/fee, you WANT to be 100% prepared so you CAN get top dollar to help pay those fees. 

Dec 04, 2022 08:08 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Endre Barath, Jr. - those new fees are going to be rough on many people. Your advise is well taken. Prepare now to succeed and not to fail miserably by paying more fees. 

Dec 08, 2022 08:11 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Political concerns? In California?  That doesn't happen does it? 

Measure ULA sounds like it could effect the buyers coming here from California. Have you written a blog post specifically on that Measure and any ways that folks are looking to get around it?  That information could be very helpful to me.

Dec 13, 2022 04:26 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant Schneider nice to have kids that take good advice, Endre

Dec 13, 2022 08:55 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina Hollander, Broker  I am starting to see list prices at $4.999 million:) Endre

Dec 13, 2022 08:56 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wayne Martin  absolutely you are spot on, Endre

Dec 13, 2022 08:57 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Dorie Dillard Austin TX  you are so right, too bad some sellers are not reading your comment:) Endre

Dec 13, 2022 08:59 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kat Palmiotti  indeed things will get a bit more challenging to sell a high-end home here in the Greater Los Angeles area. Endre

Dec 13, 2022 09:00 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Joe Jackson  thank you for stopping by and commenting, Endre

Dec 13, 2022 09:01 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Will Hamm glad you liked my post, Endre

Dec 13, 2022 09:02 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael Jacobs  I would be happy with I will get back to you soon vs. the crickets... aka no response, Endre

Dec 13, 2022 09:03 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  yes it has to be showroom ready until it sells, Endre

Dec 13, 2022 09:04 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  you are so right visualize $29,000. taxes to sell and now add another $200,000 on top for the $5million sale....Endre

Dec 13, 2022 09:05 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Anna Banana Kruchten Phoenix Broker  officially to get the homeless housing.... but if you want my two cents.... Caiman Islands accounts of the powers to be...Endre

Dec 13, 2022 09:06 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sheri Sperry - MCNE®  we are on the same page, Endre

Dec 13, 2022 09:08 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  I am seeing $9.999 million listings now days, too, Endre

Dec 13, 2022 09:09 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Patricia Feager, MBA, CRS, GRI,MRP  and we have many people in these price ranges, Endre

Dec 13, 2022 09:10 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Rocky Dickerson  your wish is my command will work on one in the near future, Endre

Dec 13, 2022 09:11 PM