Home Selling in Malibu>Question Details

T Jennett, Home Buyer in Beverly Hills, CA

Should I sell in Spring now that prices are rising, or wait another year for additional appreciation?

Asked by T Jennett, Beverly Hills, CA Fri Mar 1, 2013

I'm debating whether to put my home on the market in Spring, or wait another year for continued appreciation. It's located in West Malibu in Lechusa Highlands. It's currently rented at just enough to cover the mortgage and expenses. Is $750/SF sale price realistic? That's pretty much my minimum target price. (the house is 2,724 SF on .82 acres) And it's four bedrooms - why, according to the Trulia stats, in Malibu do 4 bedroom homes typically fetch less well per SF than ones with fewer bedrooms?

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Dorene Slavitz (213) 814-5238’s answer
Dear T,
Prices ARE rising and there is a very hot buyer market out there. I believe you would do better if you work directly with a Professional Realtor on a CMA on your property. We do expect a very busy Spring and Summer Selling season this year.
0 votes Thank Flag Link Sun Mar 17, 2013
Hi T,
The market is good right now, but who knows what will happen later. Don't rely on the Trulia numbers - contact a local Realtor ( 2-3 pros) and get their up-to-date information.
Malibu is a destination location that many people desire to achieve. Make sure that your Realtor has Global marketing that will attracting buyers.
Thanks
Janet McCarthy
Premiere Homes
jmccarthyhomes@gmail.com
0 votes Thank Flag Link Fri Mar 15, 2013
Sell in Spring definitely! There are more buyers looking in the spring. Before you make a decision though have a REALTOR in your area tell you what the market trends are.
0 votes Thank Flag Link Sat Mar 2, 2013
Obviously no one knows the future there for there is no simple answer to this question.

Right now it is sellers market because lots of sellers waiting for better times to sell their property - there is shortage of properties on the market- there for you have very little competition and ability to sell your property fast in this market! Most of the properties in this market have multiple offers - allowing sellers to increase prices.

Sure you can wait and try to sell it later, however there is no guarantee what the future will bring and most likely all the sellers that are holding their properties right now will start offloading/selling their properties also - there for there is a great chance that as you wait - you may face much stronger competition in the future from other sellers there for your property may not sell as fast or at a such a hight price in the future.

Ether way it's your call - i hope you will consider me for your property sale call me 424-777-9377



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0 votes Thank Flag Link Sat Mar 2, 2013
Prices are going up and my area - TN - inventory is low - so if you price your house correctly it should successfully sell. None of us have a crystal ball about next year's housing market. If you are feeling ready to be done with your investment property, then get it on the market this Spring.
0 votes Thank Flag Link Sat Mar 2, 2013
I think that whenever you try to decide these things in terms of 'best time" for the market, the market always goes sideways. I can't predict the future. What I can say is that the seller's market is the best it's been in a decade. Low inventory has pumped up housing prices dramatically.

Make your decision upon what's best for you and your family instead of trying to second guess the nutty real estate market! Take care.
0 votes Thank Flag Link Sat Mar 2, 2013
Hello,

It is currently a great time to sell! The inventory is very low and houses that are priced well are selling quickly. Whether or not there will be further appreciation in the future, no one can say for sure, but when the inventory is really high, homes don't always sell as quickly. Also, interest rates are currently low if you are looking to purchase a home after selling. It really depends on your long term plans and needs.

$750/square feet does not sound unrealistic for Malibu right now, but there are other things that affect the price of a home such as views, upgrades, floor plan, and condition. I would be happy to provide you with a free professional estimate of your home value at no cost!

In regards to your question regarding 4 bedrooms getting less per sq ft than homes with fewer bedrooms, it is hard to say why that is, but my guess is because some of the larger homes have fewer bedrooms that are each much larger. If your same home had 3 bedrooms for example, each of the 3 bedrooms would be quite a bit larger than the 4 bedrooms, which might seem more luxurious and appeal to a different type of buyer. Also, you have to take into consideration other aspects of the house such as lofts, office areas, dens, etc. that may not be considered a bedroom but would add to the price of the home.

Feel free to contact me at (310) 717-1321 or JamieTian@RodeoRE.com. I would be happy to answer any questions you might have in detail or assist you in the sale of your home.

Good luck!

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
DRE #01920120
0 votes Thank Flag Link Sat Mar 2, 2013
Hi,

Good question Mr or Mrs T Jennett.

It depends what you want to do after you sell. If this is your last home and are down sizing and it is not your personal residence you may get hit with Capital Gains tax for not doing a 1031 exchange as opposed to leaving to your heirs. If it is your personal residence and you are married and you have over $1M in capital gain you might get hit with taxes as well. I can't give you tax or legal advice so check with a competent professional.

If you are young and fixing and flipping yes buy wholesale fix it up, and then sell retail and then do it again.

It all depends where you are at with your property, if it is your personal residence or an investment property, and where you are at in your age and your risk level,

Is this the T Jennett I sold a big huge hotel to in Ventura County?

Can I sell your home? Perhaps you would consider letting me put it up for sale or trade.

Best

Al Goldberg Broker
30+ Years Experience
900-765-3609
0 votes Thank Flag Link Fri Mar 1, 2013
What is your cost of holding the house? Will interest rates be as low? Will it still be a hot real estate market? Are you willing to put your life on hold?
0 votes Thank Flag Link Fri Mar 1, 2013
" A bird in the hand.........." NO ONE knows what the future will bring (higher taxes excepted), but the most accurate answer to your question will come from you - ie, when you are ready. There are more than a few yardsticks by which to evaluate the market value of a home $ X SF is only one of them......if you would like a personal evaluation of the market value of your property please contact me and I will be happy to provide you with my own, or you can employ a professional appraiser.
You would do well to select a MALIBU based realtor to assist you as it is most definitely a different market out here - most of the people answering you below are NOT.

Bruce Kent
RE/MAX ESTATE PROPERTIES
Malibu & Topanga
License #: 01299413 -
310-457-9082 (direct)
310-486-2163 (mobile)
310-589-1032 (fax)
brucekentmalibu@charter.net
http://www.brucekent.homesandland.com
0 votes Thank Flag Link Fri Mar 1, 2013
Hi, you are not alone with your thoughts...
It seems that the reason for putting a home on the market is probably different for each and every homeowner, what are the reasons for selling, where do they move to afterwards, is this a primary residence or or or

What you really need is to be connected with an experienced area Realtor, who will be honestly exploring your market with you, i.e. show you exactly what has recently sold and compares best to your home and
may be some up or down adjustments will be necessary. You should then also discuss the marketing and
advertising and the time frame the other recently sold homes took to close.

You really need to discuss the value of your home in today's market with a local Realtor, who hopefully has seen many homes in your market place either during brokers open house tourings, or having shown them to potential buyers, or sold them or listed them, to advise you, what you have in mind
may or may not be realistic in today's market, so you want a Reatlor to puts the straight facts in front of you and hopefully will also assist you in preparing your home so that it will show at its best...

The Stats on Trulia or any other website, more often than not do not take into consideration the location of a home, the upgrades, the flow of the floor plan, and many other plus or minus items in
each individual home... If you need a good recommendation for a local Realtor in the West Malibu
area feel free to e-mail.... EdithSellsHomes@gmail.com
Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Fri Mar 1, 2013
I'd be happy to meet with you and discuss any questions and concerns you might have. Please contact me directly at Lenasrealtor@yahoo.com or (310)625-9005.

Lena Samigoullina
0 votes Thank Flag Link Fri Mar 1, 2013
T Jennett, great question, there are so many variables nowdays that create a cause and effect on Real Estate, my advice is for you to sell now and not later, who knows what it will be like later. Keep in mind the increases will not be like in the haydays of 2004/5

Should you need a private consultation with more details feel free to reach out to me:

Endre Barath,Jr.
homes@endrebarath.com
310.486.1002(m)
Prudential California Realty
Web Reference: http://www.endrebarath.com
0 votes Thank Flag Link Fri Mar 1, 2013
Brian Goldberg
Broker Associate, Realtor
Coldwell Banker Malibu Colony
23676 Malibu Road
Malibu, CA 90265
P: (310) 403-4623
F: (310) 356-4901
http://www.luxurymalibuproperty.com
http://www.brokermalibu.com
CA DRE #01900604
0 votes Thank Flag Link Fri Mar 1, 2013
This is a great time to sell.
Please call me directly to discuss in length.
Susan Bo'ur Realtor
Susan@BeverlyHillsLuxuryFlats.com
(310) 600-4240
0 votes Thank Flag Link Fri Mar 1, 2013
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