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.)
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.
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.
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.
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) email@example.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