sell home – Page 17 – LA Loft Blog

11 High Cost Inspection Traps A Seller Should Know About Weeks Before Listing A Home For Sale #loft #inspection #sellhome

According to industry experts, there are more than 33 physical problems that will come under scrutiny during a home inspection when a condo or house is for sale in California. A new report has been prepared which identifies the most common of these problems, and what everyone should know about them before listing a home for sale.

Q: Who pays for what inspections?

A: In a Southern California home sale, the buyer usually pays for a general home inspection ($400), and the seller usually pays for a termite inspection ($100). In Los Angeles, the seller usually also pays for a retrofit inspection ($100), which checks smoke-CO2 detectors, low-flow toilets etc.

Q: If I’m selling a concrete loft with no wood, do I still need to get a termite inspection?

A: Yes, usually. In California, lenders often require a termite inspection. So, if the home is being financed, then get a termite inspection even if the home is made of all concrete and steel or brick with no possibility of wood destroying pests such as termites. If the buyer is paying all cash, and the buyer signs a pest inspection waiver, then a termite inspection is not necessary. Rarely, a concrete loft may have an infestation if the unit is adorned with old wood. | Question or Comment

Whether it’s an old home or a brand new one, there are a number of things that can fall short of requirements during a home inspection. If not identified and dealt with, any of these 11 items could cost a fortune in terms of repair. That’s why it’s critical that a home seller read this report before listing a loft, condo or house. If one waits until the building inspector flags these issues, one will almost certainly experience costly delays in the close of a home sale or, worse, turn prospective buyers away altogether.

In most cases, a seller can make a reasonable pre-inspection first after learning what to look for. And knowing what one is looking for can help to prevent little problems from growing into costly and unmanageable troubles.

Get a free report that reveals what you need to know before you list your home for sale, and also included is a list of Greater Los Angeles Area loft inspectors. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/z1tsxc3b0jo23if/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Inspection prices are approximate, and vary. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker. | Question or Comment

HOME SELLERS: BE PREPARED FOR LOWER PRICES IN 2019 / 2020

Scary real estate market of Downtown Los Angeles

Real Estate Market News (Downtown Los Angeles, CA) — The last six months of completed Downtown real estate activity shows very healthy numbers for sellers, and a pricey time for buyers: Downtown Los Angeles median price is up 3.2% over the last 6 months compared to the same period last year. Inventory of available Downtown homes for sale has dropped by 6.15% over the same period. Homes sold faster with average days on market dropping by 12.9%. So why is the L.A Loft Blog, along with a few other media, sounding the alarm?

While there is no reason to anticipate a huge downturn in home prices, all of the signs and signals are in — most importantly: the feedback from L.A. Loft Blog readers, who really are the final arbiters of truth regarding Downtown residential real estate. The wallets and calendar of the readers do not lie. When a Loft Blog visitor spends time and money, (or, in this case, stops spending time and money on something), there is no equivocation, no conjecture and no doubt as to the truth. L.A. Loft Blog readers (and other prospective buyers, sellers, tenants and landlords) have communicated explicitly through words and actions that they generally have no plans to purchase a home in the next 3-6 months. At the same time, very few plan to sell in the coming months. This combination indicates a plateau (little or no increase in prices for a sustained period) and a sideways market (a combination of roughly equal up and down prices). #dtla #realestate

DOWNTOWN LOS ANGELES REAL ESTATE MARKET METRICS

The calm before the storm — While the median price went up, the average sold price did not budge from the same period one year ago. This indicates that price pressure has already begun. The lowest home sold and the highest home sold prices are down from the previous year. Total volume of real estate sold is down by 6.2% over the same period. #homeprice

Some say that the bull market may continue a lot longer:

https://www.marketwatch.com/story/why-this-bull-market-may-have-miles-to-go-before-it-sleeps-2018-08-20

Locally, the statistics and the behavior of home buyers shows that we have reached a crossroads. “In 2019, the loft buyers have started to dry up,” says loft specialist Corey Chambers, Associate Broker with Realty Source Inc. “My clients and I bought lofts in 2012, and we did very well. Now, I’m informing prospective sellers that the time has come to consider locking in those gains by cashing out.”

For those who are considering selling their loft or condo, now is the time to put extra thought into future needs and wants. Once the market begins to falter, the slide may escalate faster that expected. Or, in this case, real estate could sadly stagnate for an extended period of time. Because the financial well-being or L.A. Loft Blog readers is on the top of our priority list, we are repeating the warning that we gave recently. — And remember, the mainstream media generally gives economic warnings about 6 months after they happen… too late.

HOME PRICES LIKELY TO DROP

We are not going so far as to predict the future, nor to guarantee any economics because there is no way to know how thousands of locals, and millions of individuals nationwide will behave at any time in the future. Based on the factual numbers and market data that we receive daily from hundreds of loft lovers corroborated by technical sources, we are confident that we can and should disclose the reality of a cooling market, and that we should reveal the likelihood of a mild price slide, plateau or sideways market coming up.

Real Estate Chill:

A slight chill coming for the Bay Area housing market?

More home prices slashed:

http://www.dispatch.com/business/20180816/more-home-sellers-dropped-prices-this-summer-than-last-zillow-says

Find out how much the loft down the street sold for. Get a free list of sold Downtown condos. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/qbg942419l39cs/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

Tag: sell home

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