THE BLOG

31
Jul

Rising Home Prices Mean Great News for Homeowners

What do current home prices mean for homeowners? (Hint…It’s GOOD NEWS!) Check out this article to see how rising prices and buyer demand are contributing to the equity in your home.
Ready to make your move? Let’s Connect.

 

31
Jul

Travel Tuesday- Paso Robles

Paso Robles is one my favorite places to visit!. There are so many amazing wineries and the views from each one is just breathtaking (yes, I’ve been to nearly every one!). Just a 3-hour ride from Los Angeles, we recommend checking out Hotel Cheval and the 10 attractions below:

  1. Epoch Winery
  2. Hearst Castle
  3. Calcareous Vineyard
  4. Justin Winery
  5. Sculpterra Winery & Sculpture Garden
  6. Jada Vineyards
  7. Estrella Warbird Air Museum
  8. Peachy Canyon Winery
  9. Studios on the Park
  10. Tin City Breweries & Wineries

Don’t forget to share your trip on Instagram and tag @MelissaMenardHomes!

28
Jul

US Housing Inventory

Wow…US Housing Inventory is at an all time low! Most homes that come on the market today are receiving multiple offers, producing higher selling prices. Is NOW the right time for YOU to sell? Find out now…
27
Jul

Ready to Fall in Love?

Single and excited to fall in love? Check out the statistics for the number of singles who are falling in love with (& buying) their first homes.
26
Jul

The Art of… The Off Market Deal

In the Seller’s Market we are currently experiencing, there are a number of ways to sell a property, one of which is referred to as the “off-market” deal

Definition

An off-market deal is a term used to define a property that listed for sale with a broker but not put on the Multiple Listing Service (MLS) or with a sign in the yard. Essentially the home is sold without any public advertising. It is sold through relationships and networking.

Why Sell Off-Market?

Reasons for a homeowner to sell their property off-market are varied and can include the need for a quick sale due to family or financial situations, or even avoiding the hassle of preparing a home for sale. Here in Los Angeles, a common motivation we see for an off-market sale is the desire for privacy due to high profile clients.

The Benefits

So how does the seller benefit from an off-market deal?

Privacy – the general public doesn’t know the property ever changed hands

Buyers may be willing to pay a premium for not having to compete against other buyers for a property.

No hassles – sellers don’t have to worry about having a home constantly clean and “show ready” every day, or vacate their home for a whole day for an open house.

The Pricing Strategy

Are sellers leaving money on the table by selling off-market? The short answer is NO, as long as the seller and the broker have done their homework with respect to pricing the home accordingly. The salient point being that the price for the off-market home is not the same as the price of the home put on the MLS.

For example, a seller and their agent determine that the best price to list their 3-bedroom home in Westwood is $1,349,000. In this market however, it’s possible that demand may drive the price up as high as $1,400,000 with multiple offers. So the off-market price is $1,400,000. The buyer pays a premium to buy the home without the stress of competing with other buyers, at a price it was likely going to hit anyway.

Know the Risks

There’s always risk involved with any strategy, and no matter how much research is done by you and your broker, there is always going to be the risk of having left money on the table. Nobody can predict the ultimate sales price of a property because the determining factors are fluid:

  1. Market Conditions at the time of sale
  2. Inventory levels at the time of sale
  3. Interest Rates at the time of sale
  4. Buyer Pool at the time of sale

Ultimately, it boils down to the motivation of the seller when it comes time to list their property for sale, on – or off– the market.

In the last year I have had the privilege of helping a handful of buyers in off-market deals.  I’d love the opportunity to sit down with you to discuss your goals and options. So let’s talk.

26
Jul

Americans believe home buying is a good decision

What percentage of Americans believe buying a home is a good financial decision? Turns out, A LOT!  Let’s talk about buying your next home.
25
Jul

3 Questions to Ask before you buy a home

Is now the right time for you to buy a home? Ask yourself these 3 questions to find out! Then, let’s connect to discuss the current market trends in your dream neighborhood.

https://goo.gl/Kvav2X

21
Jul

What current mortgage rates mean for your buying power

 Do you know what the current mortgage rates mean for your buying power? Here’s how it breaks down:
19
Jul

The 5 Greatest Benefits of Homeownership

Do you know the 5 Greatest Benefits of Homeownership? Check out this article for the list. Let’s connect when you’re ready to make your move.
18
Jul

Current Market Conditions

If you’re a homeowner we bet you’ll want to know how the current market conditions affect the value of your home. Check out this article to understand the reality of our current market inventory.