How is the Real Estate Market on the West Side of Los Angeles?
How is the Real Estate Market on the West Side of Los Angeles CA? How do you compete in this market?
Not long ago I went to dinner functions and people asked what I did for a living and when I told them I was a Realtor on the West Side of Los Angeles, CA, they patted me on the back and felt sympathetic. Then we politely switched topics. No one wanted to hear what I had to say: There are fantastic opportunities to buy now! Sellers are nervous and are willing to negotiate. The interest rates are at all time low, what a great opportunity to buy. Very few heeded my advice and thought I was just not realistic. The ones who did listen to me are thanking me today.
Now I go to a dinner function and people ask me how the Real Estate Market is? My answer is: The Real Estate market is smoking hot on the West Side of Los Angeles, CA. The seasoned developers are here with “all cash offers”. Depending which part of the West Side we are offers range from 12 -20 offers on fixer uppers also known as tear downs can be anywhere from $50,000 to $250,000 above asking price. It all depends how the listing is priced!
I work with Developers who look at Real Estate as an Investment and they have their Formula as to what their profit margin is. Hence I average 15 – 16 offers before one gets accepted.
So this brings up the question, how can I do it? Thanks to the Technology which we have today, but which we did not have 15+ years ago, is how I can do it. Today we have an Internet based Multiple Listing Service, not going from Brokerage to Brokerage, not having the MLS Books in the Office and checking what is available. This is a huge benefit to help me get the inventory to my clients as it hits the MLS, in other words E-MAIL is helping me as well. The Search Programs augmented with E-Mail is just great!
Then the ultimate tool that helps is DocuSign, I do not have to go to the client’s home or office to sign the offers. Nor do I have to fax it to them, I remember when I did not have a fax machine and had to go to the office to submit my offers. Then came MongoFax and ultimately there was the Scanner. Now all these are virtually obsolete. Thanks to DocuSign, I have clients in Asia, Western Europe, the Middle East and we are submitting offers seamlessly.
OK to be fair, I have my own fax, my own scanner, my own printer and my own Lap Top and I work from early morning to very early morning. On some occasions I actually meet clients at their home or in the office, but that is becoming a rare occurrence.
So if you want solid and consistent Real Estate Representation as a Buyer or Seller, reach out to a Tech Savvy Los Angeles Realtor!
If you are considering buying or selling a luxury home, or an ultra luxury home, or luxury investment real estate, or 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 give me a call at 310.486.1002 or emails me at email@example.com or visit one of my websites at http://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.