Home Selling in Eagle Rock>Question Details

John Acevedo…,  in Eagle Rock, Los Ange...

In today's market - oct 2010 what is the best pricing strategy when putting a house for sale in eagle rock,ca.

Asked by John Acevedo (323) 270-7873, Eagle Rock, Los Angeles, CA Tue Oct 12, 2010

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17
Hi John !

Look at the comparable sales that are happening now in your neighborhood & price it to what similar homes are selling for now in your neighborhood ! Good Luck !
0 votes Thank Flag Link Mon Feb 17, 2014
Price it right. Price is considering comparables , short sales in the market and REO's nearby.
0 votes Thank Flag Link Mon Oct 18, 2010
Price the house 3% less than the rest of the homes...Offer a high comm. to the buyers agent to get people coming to the house and advertise. :) GOod luck !
0 votes Thank Flag Link Mon Oct 18, 2010
Hi john,
Same as it always has been, get the property in it's best possible condition and I mean sharp and price it aggressively compared to your competition and make it super easy to show. Lastly, try not to let your seller going into this process with a stubborn disposition with the price, they must keep an open mind and selling is the goal not keeping the house FOR sale and help sell the competition.
0 votes Thank Flag Link Fri Oct 15, 2010
Hi John,

The best pricing strategy in this market in any area is to price it slightly below your active competion so buyers can see the value of what the home has to offer compared to what is on the market. I would also recommend looking at the recent sales in the area to make sure that the listing price is not too high or too low.

Good Luck,
Nancy Zelada
Keller Williams Realty- Marina/L.A.
(323) 603-6885
Web Reference: http://www.NancyZelada.com
0 votes Thank Flag Link Wed Oct 13, 2010
Hello Johm

Best looking for the best price.


Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
0 votes Thank Flag Link Wed Oct 13, 2010
Hi John,
I think in any market, at any time, it always comes down to price. Lots of people say location, location, location, but even if a location is terrible but is priced right, it will sell. I think there is a buyer for everything, so assuming your property is a standard home, cosmetic fixer on a nice, quiet street, I would say take the closest most recent sale, compare it with the closest, most recently active listing and price better than your active competition and comparable to the sold inventory. Good luck.
Sincerely,
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
0 votes Thank Flag Link Tue Oct 12, 2010
The great thing about Real Estate is that its not rocket science.
The answer to your question would be whether or not your listing is a short sale or an equity sale.
If its a short sale, price it at the comps and send that offer to the bank for approval and hope the buyer doesnt walk before approval.
If its an equity sale and the seller wants as much money as possible and is willing to wait price it at the higher end of the comps and put in a value range with the lower end of the list price at the higher end of the comps that is so you get lower end buyers in looking at the home and you have the ability to counter them higher when offers comes in.

This will forever be "JUST A PEOPLE BUSINESS"

Good luck on the listing
0 votes Thank Flag Link Tue Oct 12, 2010
John, how are you? I hope great. The best pricing strategy when putting a house for sale in eagle rock, ca in this market is to price it right. What do I mean by this? ok, people today is looking for a good deal so you need to price it below the competition. This takes a little bit of homework because you need to look at similar houses and what they are listed for, also you need to see what sold and for how much, and last but not least is to have a good marketing strategy. A good way to do that is to have an agent that uses technology. What I mean is someone who is going to blast your house across cyberspace. It needs to appear in every real estate website. People today do most of their shopping by going to the internet first, so your house better be there.

Remember a house is worth what someone is willing to pay and not what anyone says is worth. So you price it right do the right marketing so the masses will come come and then all you have to do is just sit and relax and let the offers come.

Anthony Galeano



Realtor


T: 310.820.6651

C: 310.437.3343

O: 310.728.6689


E: 1@anthonygaleano.com

W: http://www.anthonygaleano.com

DRE # 01249041
0 votes Thank Flag Link Tue Oct 12, 2010
Hi John;
To directly answer your question, the best pricing strategy would be as follows:
1. Determine the absorption rate of the inventory in the community in which the home is located. (i.e. sales per month {average} divided into number of homes currently on the market)
2. Determine the average discount between asking and selling price.
3. To be agressive, price 5% below the lowest comp. If the absoption rate is over 12 months, perhaps 10%.

DO stage the property, DO hold an open house the weekend before caravan, DO put all of your marketing in place BEFORE putting the home in the MLS, and DO set a date to receive offers. Create a buzz.

Put automatic price reductions of 5-10 percent every 21 days if your property is not sold.

COMMUNICATE with the seller every week as to what has come onto the market or has gone pending that is comparable. Price is everything. Condition is the secondary thing.

Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) 818.564.6591
http://www.thebremnergroup.com/news/
0 votes Thank Flag Link Tue Oct 12, 2010
Hi John,

Great question. I'm currently selling a home on Wawona St in Eagle Rock (just south of Colorado Blvd and west of Eagle Rock Blvd) and we are in escrow after just a few weeks on the market. We carefully analyzed all of the recent home sales in the area and weighed the benefits, condition, location, square footage, views and overall desirability of the home we are selling with other homes that had sold or were in escrow close by. You will want to take into account the other homes in the neighborhood that are actively on the market which may be in direct competition with your home and come up with a direct marketing campaign and pricing strategy for your specific property. Who is the target market for your home? You will want to taylor your marketing to them. We had a ton of interest the first few weeks and now have a strong buyer!

Best Regards,

Grant Linscott
Keller Williams Realty
323.333.6222 cell
grantlinscottproperty@gmail.com
0 votes Thank Flag Link Tue Oct 12, 2010
Hi John,
Pricing is the most important factor when selling in this market. Above all else! If its not priced well,it won't sell. You could offer a bonus, a free car,and have a super model do your showings and if its not priced competitively ,it still won't move :)
I work on the east side and I am very fluent in
0 votes Thank Flag Link Tue Oct 12, 2010
John,

In any market, the best pricing strategy is to list within the range of value supported by comparable sales that have occurred within the past 3 months within a 1 mile radius of your listing, including properties of the same bedroom and bath count if possible.

The comps should also fall within a 10% variance of the actual permitted square footage of your subject property.

Getting offers is rarely difficult. Getting buyers to the finish line and their loans funded is what separates an agent who throws darts blindfolded and a seasoned professional who gets the job done.

In this difficult financing market it's more important than ever to address financing issues and appraisal issues from the very start!

Good luck,
Allan

--
Allan S. Glass
President
ASG Real Estate Inc. ®
149 S. Barrington Ave, Suite #660
Los Angeles .  CA  90049
Mobile: 213.952.9052
Direct: 213.973.8637 (213.97.FUNDS)
Fax:  213.947.4461
E: asg@allanglass.com
http://www.asgreinc.com
CA License: 01154002

Twitter: http://twitter.com/asgreinc
Linkedin: http://linkedin.com/in/allanglass

Visit Allan’s Blog: http://allanglass.featuredblog.com
0 votes Thank Flag Link Tue Oct 12, 2010
Hello,
have an local agent provide current market evaluation of your home.
Pricing your home well is the most important step that you will make in selling your home. Overpricing causes the home to seat on the market and in the whole process you will loose money.
Priced well home is flocked by interested buyers and causes them to compete for your home which brings you the most possible net with least inconvenience.
Agent that will market your home aggressively is a big asset as well. Bringing the most exposure to your listing is another very important detail, to assure that you have received the most possible amount for your home.
Good luck, let me know if I could be of any service to you.
Market evaluation of your property is always free service that I provide.
Call me direct: 626-347-6281 if you have any additional question. Will be happy to help you.
Teresa
0 votes Thank Flag Link Tue Oct 12, 2010
Hi John, I am chiming in from the East Coast - New Jersey, to confirm the universal truth regardless of the location of your home - the best pricing strategy is to price correctly right out of the gate to capitalize on the initial period of the listing when the excitement for your home is greatest. This is true regardless of what the market absorption stats are - so let's say homes are taking 6 months on average to sell - the most important period is the first 30-45 days; alternatively if homes are taking 2 months to sell, the same is true. In fact, the fall off in activity and interest is dramatic after the 45 day mark.

Price is the driver ~ and I don't think there is a market where this isn't true.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Tue Oct 12, 2010
Hello John,

I have worked in Eagle Rock for 20 years and have done thousands of Comparable Market Analysis for Banks.

1. I only use comparable SOLD within the 1 mile radius going back 3 months. I adjust my price according to advantages and/or disadvantages my listing has. If the sellers needs to sell immediately, I use the REO comps.

2. You may also check with the Title company for extra sales that did not hit the market.

I'd be happy to answer any questions you have,

Norma
0 votes Thank Flag Link Tue Oct 12, 2010
Here are some strategies I use.

• Focus on the real reasons buyers should buy your home.
• Don't forget "staging" and marketing.
•Use the Internet.
• Understand competitive pricing.
• Offer a bonus. Selling agents propose offering a bonus to the buyer's agent, on top of a conventional commission.

Please feel free to contact me.

Jamial Clark
Renaissance Realty Group
http://www.jclarkhomes.com
(323) 559-0063
0 votes Thank Flag Link Tue Oct 12, 2010
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