When Monique, a Los Angeles native, was a child, she would always go with her mother to look at open houses all over the city of Los Angeles and the San Fernando Valley. It became their regular routine and continued through her adolescence. Because of this early and constant exposure to the Southern California real estate market, Monique has unique knowledge and insight regarding the state of Los Angeles real estate, both from a pricing standpoint and from simply knowing where dozens of neighborhoods are and knowing their history for the last 20 years. After working in the Human Resources field, she decided to make the leap several years ago to do what is her passion--helping people buy and sell real estate! She is a member of the following professional organizations: Beverly Hills/Greater Los Angeles Association (BHGLAAR), the Southland Regional Association of Realtors (SRAR), the California Association of Realtors (CAR), the International Luxury Society (ILS) which is the international arm of Keller Williams Realty, and is a certified EcoBroker, which demonstrates her intense concern for the environment and the drive to make houses in the US more green and enviro-friendly. Monique is part of The Reavis Group team. For more information, please visit our website athttp:// www.thereavisgroup.com
I would say 3-5 dayw would be fair to get a response. Just check with you agent and make sure their not waiting for other offers before they submit your offer to the bank.
Condo prices are higher then they were in 2005 in WEHO. They haven't declined to the levels they were before that. Without any improvements I'd say the price is about what they paid or a hair more. I wouldn't trust the agent's appraisal. What really counts are the comps. I'd be happy to run them for you if you would like. But they shouldn't be older than 4 months. People still are moving to WEHO and it's one of the few strong condo areas in LA. With that being said there are also a lot of short sales bringing values down slightly but there are many micro climates and it depends on the building and it's location in town.
Most contingency periods expire "active". Meaning you need to remove your contingency in writing before your deposit is lost. However, please check with your agent and contract (especially if it's a new constuction home" to make sure nothing was written into the contract that would be different then the standard verbiage in a California Residential Purchase agreement.
Hello Jaqueline,
No. From my experience the property will need to be free and clear of all encumbrances prior to being transfered to the new owner.
Best,
In LA, especially on the Westside, Brentwood, Palisades and Venice/Santa Monica, single family homes are still up (prices). Volume/the number of sales is down. Their just doesn't seem to be a shortage of people that can afford these homes. Condo prices (in most areas have dropped slightly. You can never know for sure, but if home prices don't fall in any areas, I would would bet on West LA, Brentwood and Palisades (and other Westside areas surviving and staying strong.
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