Home Selling in Echo Park>Question Details

Just Wonderi…, Both Buyer and Seller in Echo Park, Los Angeles...

Should I try to sell my Echo Park home now or wait until spring in hopes of a better market? Thanks!

Asked by Just Wondering, Echo Park, Los Angeles, CA Sun Aug 30, 2009

Help the community by answering this question:


Deborah Bremner’s answer
I just wrote a blog about this very question. (http://tinyurl.com/yc5pdnt) If you need to sell in 2010, you should consider several impending factors that will affect the marketplace. Here is what I’m advising my clients. Interest rates are at record lows. If, as predicted, they rise after the first of the year, then buying power decreases, and your home also decreases in value. Right now, because we have demand in excess of supply, we have a short term seller’s market. While prices may not have risen, there is still the opportunity to find a well qualified buyer, and obtain terms that are favorable to you as a seller. There is a raft of “shadow inventory” coming on the market in the first quarter of 2010. This inventory will be your direct competition. The advantage to you? A bank- owned home rarely shows as warmly, as cared for, as an owner occupied home. You have time, now, in the month of December, to get a jump on the market. Prepare to market your home now, and be ahead of the competition.
So your question really should be: "Should I sell my home now, or list it now and prepare to market it on January 1?"
Deborah Bremner
Certified Short Sale Professional
Coldwell Banker Brentwood West
11999 San Vicente Blvd. Suite 100
Los Angeles, CA 90049
(D) 310.571.1364
(C) 310.422.4288
(F) 310.820.1457
Blogging at: http://TheBremnerGroup.com/blog
0 votes Thank Flag Link Fri Nov 20, 2009
Hello Just wondering,
I would say to put your home on the market before the spring. They have extended the First Time Homebuyer's Tax Credit through April 30th and with the low interest rates, there are many people out there buying right now to take advantage of both of these incentives.
All the best,
Jodi Barmash
Keller Williams Realty

dre 01847478
Web Reference: http://www.jodibarmash.com
0 votes Thank Flag Link Fri Nov 20, 2009
HI Wondering,
Well, Spring and Summer are the best times to sell Residential Real Estate..but homes do sell other times as well. There is a strong interest in purchasing now, before the First time homebuyer credit ends in December.
0 votes Thank Flag Link Wed Oct 28, 2009

Great question. Nobody knows exactly where the market will be in Spring, however with the tax credit expiring soon, low interest rates (I've had 2 of my clients lock in and close recently with under 5% interest rates for 30 year fixed) and the Echo Park area being highly desirable now could be a great time. I am not a big fan of listing your home towards the end of the year as this can be a slower time, however with the above mentioned factors and with the possibility of a large number of foreclosures hitting the market (from many foreclosure agents I know personally), now could be a good time for your particular situation.

I have told many of my clients not to sell their home this year and to lease or stay put if that made more sense for them and I am happy to extend you the same courtesy.

Best Regards,

Grant Linscott
Keller Williams Realty
Dre # 01715002
323.333.6222 cell
0 votes Thank Flag Link Tue Oct 20, 2009
The best way to make a selling decision is to do the following:
In consultation with a Realtor,
1. Assess the overall market now.
2. Pinpoint the buyer for your property and assess their timing.
3. View the current competition.
4. Assess your property in comparison with the competition.
5. Assess your needs and timing.
6. Strategize a marketing plan.
If all of the factors above are in alignment, you should market your home now. While no one can ever predict the state of the real estate market or the larger economy, certain factors right now are in play that make it easy to predict what various sectors of the market will be doing in the next 18 months, simply because of the pressures being brought to bear on the market by REO's, short sales, and foreclosures.
I think I can help you answer this question for your unique situation, and would be happy to do so.
Debbie Bremner
The Bremner Group at Coldwell Banker
Realtor for 33 Years
0 votes Thank Flag Link Sat Sep 5, 2009
Here's a link to a great free tool called Market Snapshot that will give you up to the minute, detailed MLS housing conditions in your neighborhood. Please feel free to contact me if you'd like to get more information on the move that you're considering.
0 votes Thank Flag Link Wed Sep 2, 2009
Just Wondering,
No one knows were the market is going to be at next year. Although, it seems that we still haven't bottomed out.
You can contact me through my Trulia profile. Give me a call or email me, that way I can gather some info and give you a price trend around your neighborhood.

Best Regards,

Jes Sierra, B.Sc.
0 votes Thank Flag Link Tue Sep 1, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer