Home Selling in 91331>Question Details

Victoria Men…, Home Buyer in Pacoima, CA

First step on how to sell your house.Requirements needed.How much is the price for a 1 bath, 1 bedroom condo unit at 11150 Glenoaks,Pacoima..?

Asked by Victoria Mendoza-jose, Pacoima, CA Sat Jul 9, 2011

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Hi Victoria,

Selling your home, I will give you the abbreviated 1st 4 steps to kind of guide you thru the process;

1st step: Decide that you want to sell. Find your motivation, very important process to help establish a strategy for the sale time line.

2nd: Get a realtor: You have many realtors to chose from in your area...5 things to look for;1. Do they listen 2. do they provide good knowledge 3. do you feel comfortable when they answer your questions 4. Do they have a good understanding about YOUR properties current market. 5. Do you get a good vibe from them. In my opinion, the reason for the questions is to have a better understanding and feeling of the individual that is about to represent you

3. The presentation should include comps (comparable sales of homes similar to yours less than 6 months old and less than half a mile away. This is used both for the proper pricing of the home and to gage how close you are to the true appraised value of your home.) to price the home and the different "true" cost involved in selling.

4. Prepare the home, marketing plan, and place the home on the market.

I've skipped alot of the little details, the realtor you chose will fill those in for you.
As for direct comps, in your specific complex there are 1 bed, 1bath selling between 70,000-$85,000. After a visit to the property, the "selleable' amount can be determined.

Hopefully this will be informative for you. I am a realtor in your area and would love the opportunity to earn your trust and business. Feel free to visit me at http://www.mannymeneses.com As always, I am at your service.
Web Reference: http://www.mannymeneses.com
0 votes Thank Flag Link Sat Jul 9, 2011
You need to have a Realtor on your behalf to check if the HOA for the complex will allow you to go FHA or only conventional. If the complex is FHA approved or accepting wavers, then you only will need 3% of the pruchase price. (which means $3,500 per every $100K) Lets say if the listing price is $200K then you will need $$7K pluss some extra for closing costs. It the complex is not FHA approved then you will need from 5% to 20% down payment depending on your fico score.
Thanks
Maribel Munoz/Dilbeck
0 votes Thank Flag Link Thu Apr 10, 2014
Hi Victoria,

The best measure of the fair market value of a condo is looking at the price of what other similar units in the same complex have recently sold for, which is where an appraiser would first look. In the complex at 11150 Glenoaks, there have been 4 1 bedroom 1 bath units that have sold within the last 6 months. They are:

1. Unit #113 (642 square feet) - sold for $70,000.00 on 6/29/11;
2. Unit #115 (642 square feet) - sold for $72,000.00 on 3/23/11;
3. Unit #71 (792 square feet) - sold for $84,950.00 on 2/9/11; and
4. Unit #298 (770 square feet) - sold for $85,000.00 on 1/31/11.

There is currently one unit for sale in the complex that is 1 bedroom 1 bath & 770 square feet. It is unit number 283, and is a short sale that was originally listed at $89,000.00 on 2/24/11, and has had several price reductions to the current list price of $79,000.00 - it has been on the market about 4 1/2 months.

Based on this, I would say that if you were selling a 1 bedroom 1 bath unit int he complex, depending on the square footage and the condition, you could expect to sell it for anywhere from $70,000.00 to $85,000.00 or so.

Hope this helps, let me know if you have any other questions or would like any more information.

Have a good day!

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
Facebook: http://www.facebook.com/RealtorJB
Twitter: @RealtorJB
0 votes Thank Flag Link Sat Jul 9, 2011
Hi Victoria,

Contact a Realtor in your area and they can assisit you from start to finish.

Shanna Rogers
SR Reatly
http://www.ReatlyBySR.com
0 votes Thank Flag Link Sat Jul 9, 2011
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