Home Selling in Hollywood>Question Details

Ccblaw, Home Seller in Hollywood, Los Angeles...

I have built 4 beautiful modern townhouses in Hollywood. The neighborhood is "transitioning"; there is another 4 townhouse development

Asked by Ccblaw, Hollywood, Los Angeles, CA Sat Oct 31, 2009

going up next door. The surrounding buildings are old and run down. Any suggestions on how to market my townhouses given the not-so-perfect location?

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Will you be doing a model unit? I'm an interior designer representing Williams Sonoma Home. I would love to meet with you and go over some new home owner incentives that could benefit you as well.
Please call me at your earliest convenience.

Thank you,

Williams Sonoma Home
1 vote Thank Flag Link Mon Nov 2, 2009
You may want to consider staging 1 unit. It will clearly show buyers how their own furniture will fit, define the purpose of each room, highlight the best features and make the house feel warm/inviting. Appealing to a buyer's emotions is a critical part of the selling equation! If they fall in love with the interior, they may be willing to overlook the less than perfect location.
0 votes Thank Flag Link Sat Nov 14, 2009
Price realistically! Assuming you're doing all of the other fundamental marketing for your project, make sure you price it right or you'll be chasing the market for a long time and carrying costs will eat up your returns, and so will days on market.

A few other ideas for you: 1) Internet marketing & social media are a key ingredient too, if you're demo is the under 40 market. 2) Put in an alarm sytem in each unit to address the security objection which will inevitable come up. 3) Spend a little extra and plant or pot green hedges on patios, balconies and lot lines. If the views are ugly use landscaping to block out the eye sores. 4) Get your building FHA approved so you'll have a wider net to catch buyers from. 5) A strong in-house lender who can simply articulate to buyers the benefits of owning vs. renting with a 1 pg flyer breaking down tax credits, tax deductions, low interest rates, etc. 6) Map or board with other new condo projects and cool hang outs in the area to tell the story of growth and transition in the area.

Velocity and momentum can make or break a condo project. Capitalize on good buyers when they show up and don't be greedy or you'll scare them off and you'll never get them back.
0 votes Thank Flag Link Thu Nov 12, 2009
We all missed the point here. This "seller" was simply asking for suggestions on marketing. The seller already has these units in the MLS.

CCblaw, I haven't gotten a chance to drop by yet but I will be doing so in the next couple of days. I already have an idea of the problem but want to make sure. But, remember, there is a solution to every problem!
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Wed Nov 11, 2009
My partner and I recently listed and sold out a 16-unit condo project and were partners on a 10-unit Spanish style townhouse in Hollywood. I don't just specialize in selling multi-unit projects, I specialize in selling real estate with attention to Service.
If you are interested in talking with us and learning how we may be able to help you, feel free to contact me.

Daniel Signani
Prudential California Realty
Beverly Hills
Lic. 01347973

0 votes Thank Flag Link Wed Nov 11, 2009
Hi Ccblaw,

Best bet is to interview Realtors® and see what they have to offer in marketing.
There are 360 degree panaroma tours, personalized url websites (www(.)yourpropertyaddress.com) with wide angle lense photographs, video tours to market properties.

Best Regards,

Jes Sierra, B.Sc.
Century21 Beachside Realtors®
Chino Hills, California
0 votes Thank Flag Link Sun Nov 8, 2009

There are definitely some approaches a Realtor could take to market your townhouses creatively, in ways that are consistent with current trends. My partner and I specialize in marketing unique properties to get top dollar in todays market. Please call or email me, and I'll be happy to share some ideas with you.

Michelle Dolon
310-570-9231 - direct
0 votes Thank Flag Link Sat Nov 7, 2009
I would love to know the location as well. I'm in Hollywood almost everyday and lived there for many years. it has been amazing to see how much Hollywood is changing! Please let me know if you are doing an open house and the size (bedrooms, baths, sq ft) as well as your list price!

All my best,
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Sun Nov 1, 2009
Hi Ccblaw,

I sell a ton of property in Hollywood and would be curious to know where your townhouses are and more about them (I have probably seen them). Every part of Hollywood is different in it's own aspect so it would be hard to give advice without the specific location and quality of your project. I've sold on Gower St, Ivar Ave, Las Palmas Ave, McCadden Pl, Sycamore Ave to name a few.

Best Regards,

Grant Linscott
Keller Williams Realty
323.333.6222 cell
0 votes Thank Flag Link Sun Nov 1, 2009
Hi, Ccblaw:

The surrounding buildings being "old and run down" shouldn't hurt your sales very much. People who live in Hollywood expect to find this in a transitioning neighborhood. Accentuate the positive and be sure to disclose anything that you think you need to.

Please contact me if you have any other questions!

All my best,
Dot Chance
Keller Williams Realty
DRE #01494182
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Sun Nov 1, 2009

Given your ultimate goal of moving the units, I'd gear a strategy around three things: 1) leveraging the nicest rooms or features of the townhomes; 2) making the most of your projects proximity to entertainment and dining venues; and, going forward with highly competitive pricing.

If you'd like to discuss additional ideas, feel free to contact me. I don't live far from Hollywood and would be able to meet at your discretion.

Warmest regards,

David Luke
(213) 598-5224
Web Reference: http://DavidLukeHomes.com
0 votes Thank Flag Link Sun Nov 1, 2009

You should not have a problem selling your units in Hollywood. The message should be geared toward getting the buyer to recognize the potential in the neighborhood. You have to let buyers know that the area has potential. As more developers like you come into the area the area will improve.

If you do not have a realtor I would love to help you sell your properties.


Gary Gukassian
Beverly Realty
0 votes Thank Flag Link Sun Nov 1, 2009
If you price it right, you can sell any home any where at any time.

Please get the help of a Realtor, one who is going to be brutally honest with you about pricing, not the agent who is going to tell you what you want to hear just so you'll sign on the dotted line.

I'm sure you built a great product, the homebuyer who is going to buy a great property but has to look at run down homes across the street is going to want a price that reflects that issue. A price that is not the same per sqft pricing as a townhome exactly like yours where surrounding properties are well cared for and more modern or new.

With the help of a Realtor we can market your property to reach thousands of interested qualified buyers. The National Association of Realtors have performed studies that show that a home seller will net approx. 17% more than if you try to go it alone.

One more suggestion: If you do not have high loan balances on these properties, to get a more premium price, you may want to consider carrying some financing for the new owner.

Please let me know if you'd like some more ideas, OR if you need some assistance in getting a brutally honest opinion on correct pricing.
0 votes Thank Flag Link Sat Oct 31, 2009
Do you have a realtor(s) promoting your properties? Are you promoting your project on line?

What are the demographics of your buyers? Create a marketing plan to target those specific buyers.

How about collaborating with the other development to promote the improving neighborhood ... the theme would be "transitioning" into ...???

What are the current functions/purposes of those surrounding old buidings? Contact non-profit housing agencies / community development groups and partner with them to beautify the neighborhood. Convert those buildings into community facilities.
0 votes Thank Flag Link Sat Oct 31, 2009
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