27th Wednesday Jun 2012

7 Things Eastside Home Buyers Should Do

Written by: Vanessa
Comments: 0
Category: Real Estate Bits

Hot in Highland Park: Multiple offers by day 5, in escrow by day 10

Last month I published 7 Things Eastside Buyers Should Know and it’s all still applicable, but pumped up several notches. So you’re probably wondering, where are all the homes? Apparently, gone fishin’ or out for summer because they’re certainly not here. As of this morning, there were:

9 in Adams Hill from 300-900k
55 in Highland Park from 200k-800k
34 in Eagle Rock from 300k-4 million
27 in Silver Lake from 300k-1.6 million

Narrow those numbers even further when you consider that a good portion will require a ton of TLC or be overpriced for what you get. Of the remaining homes, half will be “affordable” under $699k. Of these homes, half will be in great condition and perfectly priced — it’s these homes that fly off the market within the first week of debuting. If you want a home in this category, you can see why competition is fierce.

What You Can Do to Put the Odds in Your Favor

– Get your loan pre-approval – can’t emphasize this enough!
– Work with an awesome agent who is a workaholic and knows the area
Be available the moment a hot one debuts–waiting a few days may be too late
– Have a clear vision for the kind of home you want in the neighborhood you love
– Narrow down your needs to 2-3 non-neogitables…everything else can be the cherry on top
– Be flexible with “cosmetic” issues that could be relatively affordable to address
– Lengthy or unfavorable contingencies won’t make your offer appealing

Are you a seller? Check out 7 Things L.A. Eastside Sellers Should Know Now


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