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Sunday, November 6, 2011

Tips for a Successful Sale

 Deciding to sell your home is a big decision with many moving parts. If you hire the right Realtor and put the right price on it you'll have a successful outcome. Below are some tips on what to do after you've made the decision that it's time to move onto greener pastures.

1. Hire a Realtor that has an intimate knowledge of your neighborhood.

2. Be open and honest with your agent at all times. They can't provide you with the best service if they aren't clear about your needs, wants and expectations. The right Realtor will take the time to  explore what you expect from them and the home selling process.

3. Price it right!!!! Statistically the longer your home sits on the market the less money you'll make. The buyers will believe that your home has something wrong with it and pass it up for others. If you remember nothing else on this list remember this one!

4. Make your home accessible to be viewed by the buyers. The easier it is to show the better your chances of selling it.

5. Stage your home. You aren't going to get a second chance at a first impression. Put away the nick nacks and remove excess funiture so your home appears larger than it is. If it's dark buy extra lamps, paint it a nice light neutral color and open the blinds.

6. Property sells year around, not just in the summer time. In the winter you'll have less competition from other sellers and the buyers out looking at that time are probably very serious about buying.

7. If you've had a lot of showings and no offers go back to step #3, if you've had hardly any showings and no offers go back to step #3, if people aren't coming in or calling about it at all, you've totally missed the mark on price go back and re-evaluate your price! Re-adjust it quickly and I'm sure you'll have a SOLD property in no time.

Please let me know how I can assist you with your real estate needs!


Amanda Contreras

Friday, October 28, 2011

Santa Monica Single Family Homes

                             September 2010 -vs- September 2011

  • Median Sales Price is down by 1%.
  • Median For Sale is up 6%, Median Sold  down 1%.
  • Sold Properties down 33%.
  • Under contract properties down 50%.
  • New properties listed up 11%.
  • Expired remains the same.
  • Supply is down 15%, Demand is down 33%.
  • Days on Market up 17%.
  • Months Supply of Inventory up 80%.
For more information on this area or any other Westside neighborhood call me at 310.694.4819.

All my best,
Amanda Contreras
Keller Williams Realty~Santa Monica
Realtor, SFR

Friday, September 23, 2011

Westside Market Information

As you may have already heard real estate is hyper local, prices can vary greatly from neighborhood to neighborhood. Below I've compared 2 years of market data for single family homes for 5 Westside areas.

If your neighborhood is not included in this list please call me and I'll be happy to get you the most up to date information for your area.


Total Sales:160, Average Days on Market:71, Median Sales Price: $897,000.
Total Sales:177, Average Days on Market:78, Median Sales Price: $925,000.

West L.A.

Total Sales:61, Average Days on Market:40, Median Sales Price: $680,000.
Total Sales:73, Average Days on Market:64, Median Sales Price: $630,000.

Culver City

Total Sales:145, Average Days on Market:45, Median Sales Price: $650,000.
Total Sales:147, Average Days on Market:57, Median Sales Price: $615,000.

Mar Vista/Palms

Total Sales:267, Average Days on Market:51, Median Sales Price: $740,000.
Total Sales:287, Average Days on Market:49, Median Sales Price: $710,000.

Santa Monica

Total Sales:244, Average Days on Market:64, Median Sales Price: $1.4M
Total Sales:245, Average Days on Market:70, Median Sales Price: $1.3M

Please don't hesitate to call me with any of your real estate needs!

All my best,

Thursday, August 4, 2011

5115 Raintree Circle

 Great opportunity to own your own home! This condo is priced like a bank owned property! This is a short sale, featuring 1 bedroom and 1 bathroom, fireplace, central air conditioning and heat, 2 car parking, large balcony overlooking lush landscaping.

 The community has a large heated pool, spa, gym and recreation room. The expansive pond with ducks, waterfalls and fountain makes you feel like you're on vacation. Great central location, minutes away from all that Culver City has to offer! Offered for $190,000.00!

 Follow this link for pictures and contact information to schedule a showing:

Thursday, May 26, 2011

Recent Market Statistics for West Los Angeles and Santa Monica

Here's some compelling figures about our current Westside Real Estate Market. The figures show the MSI, Months Supply of Inventory, and the DOM, days on market.

 The statistica are for Santa Monica, Palms/Mar Vista, West Los Angeles, Culver City, Brentwood, Venice and Marina Del Rey. This is for single family homes only and is comparing current conditions to the conditions from the same time a year ago.

The months supply of inventory is how long it would take for all the homes on the market to be sold/absorbed and the DOM is the number of days on average it takes for a home to sell.

Santa Monica: MSI is 7.8 which is down 9%, DOM is 114.6 up 122%.

Mar Vista/Palms: MSI is 3.3 which is down 14%, DOM is 38.8 up 48%.

West L.A.: MSI is 4.3 which is up 7%, DOM is 45.4 up 2%.

Culver City: MSI is 3.5 which is up 42%, DOM is 40 up 61%. 

Brentwood: MSI is 5.2 which is down 29%, DOM is 55 up 105%.

Venice: MSI is 5.4 which is up 11%, DOM is 82 up 33%.

Marina Del Rey: MSI is 10 which is up 11%, DOM is 42 up 9%.

 So what does this mean to todays buyers and sellers? Well, it all boils down to this: the lower MSI means homes are moving fairly quickly and it's a hot market/neighborhood with lots of buying activity. The buyers see this area as an area where they can get the most bang for their buck. Homes that are priced right, neatly staged and marketed well will most likely end up selling pretty quickly.

 The higher MSI the more the buyers have to choose from so they can be a little more select in regards to what they'll put an offer on which will most likely end up giving them the upper hand during the negotiations with the seller. Homes are lingering on the market and a lot of them aren't selling at all. The seller will be competing with many homes at any given time making him/her have to price very competitively or risk not selling at all.

Please remember this is a broad picture of each area as real estate is hyper local. If you'd like a free report for your neighborhood just give me a call and we'll get that out to you asap!

All my best,

Amanda Contreras
SFR(Short Sales and Foreclosure Resource), Realtor
Keller Williams Realty
c.310.694.4819 e.

Wednesday, March 30, 2011

Should I Get Permits?

You would be hard pressed to find a home in Los Angeles, or anywhere for that matter, where the homeowners did additions/alterations to their home with the proper permits from the city.

You're thinking of doing some minor alterations to your home, so the question is should you pull a permit for the work with the city or not? After all, you think it's more costly and time consuming to get them.

In the event you should want to sell the home down the road, unpermitted alterations could pose a problem. Not only could it make the potential buyer leary but it could be a reason that they negotiate the price lower.

You think maybe it's not a big deal or it was just a little alteration. When you fill out your disclosures that are given to the buyer after acceptance you'll have to disclose all of the work you did on the home with or without the proper permits.

So what type of work/alterations require permits?

Generally speaking construction, installation and replacement of the following projects: deck, hot tub, pool, basement finish, room addition, exterior siding and stucco, porch, sun room, patio or deck enclosure and roof covering, gazebo, shed of more than 120 square feet, garage, conversion of a garage to a room, electrical work, lawn sprinkling system back flow prevention device, water heater, boiler, furnace, a.c. system, fireplace, fireplace conversion to gas, wood stove, roofing, retaining wall 4 feet high or greater. 

For more specific information please be sure to check with your Regional Building Department.

Please don't hesitate to contact me for any of your real estate needs!

Amanda Contreras
Real Estate Consultant