Category Archives: Blog

Today’s buyers have access to so much more information than they had just 10-20 years ago.  Did you know that once upon a time if you wanted to know what was on the market, you had to actually KNOW a Real Estate agent in order to get access to the PRINTED BOOK of listings?

Today, that is no longer the case. If I put a listing on the MLS (Multiple Listing Service), I can get it in front of thousands of potential buyers in a matter of minutes.  Give me a few days, and I can get in front of tens of thousands of buyers.

When buyers look up listings, they almost always check Days On Market (DOM).  They are looking to see how long a property has been sitting on the market before they consider the property as an option.  As a Realtor, I do the same thing.

Why?

DOM can provide us with a tremendous amount of information when preparing our strategy to help our clients buy a property.  The shorter the DOM, the less likely the seller will be willing to look at a lower price offer.  The longer DOM, the higher the chance we have an opportunity.  When I say opportunity, what I mean is that, the seller is likely tired of having their home invaded by visitor coming to take a look. They have to keep it clean as well as find a place to house the family pets during the showing or open house. They are likely ready to have an offer placed in front of them and move on with their lives.

The problem is…

When  property has more than 14 DOM here in the Los Angeles/Beverly Hills area, people start to wonder, “WHAT’S WRONG WITH IT?”.  Every other listing has sold in the first 2 weeks, why is this one sitting?

There could be many things wrong with the house, but I would make a bet that it has to do with PRICE and PRESENTATION.  If the house was priced right based on how it shows and its other attributes like size, location, surroundings, etc, it would have sold by now.

So what should you do?

Listen to your agent when they show you a listing that has high DOM.  Before you ask, “What’s wrong with it?”, go in with an open mind, and see if you might like the house.  With the right agent on your side, you might just be amazed at what can be accomplished.  I have come across some incredible deals for my clients in a tight market.  With the right approach, style and demeanor, lots can be accomplished in a tight Real Estate.

Would you like a customized strategy formulated for your home search?  Would you like to learn how to WIN that next multiple offer situation?  Give me a call at 310-963-7384 and let’s talk, or click here to set up an appointment directly in my calendar.

Regards,

Revi Mendelsohn, Realtor

 

It’s time to take that trip around the world!

I’m noticing something in the Real Estate market that I want to share with you.  If you have purchased your home in 2012 or before, there is a huge opportunity for you RIGHT NOW!  If you wait, you will still be ok, but you will have to wait out another Real Estate Cycle.  We don’t know how long the next cycle will take to hit, but this one is on its way.

Here is Janet and Rick’s story:

Janet and Rick contacted me in 2011 through one of my past clients, wanting to buy her first home.  They had been renting in Santa Monica for many years and decided that they were ready now.  It was nearing the end of the year and the market had slowed down for sellers.

They had specific location requirements and were flexible with the size of their home, but wanted to stay in the mid $700’s range.  In Dec 2011, we came across a house that had been on the market for almost 6 months and while it started out at a list price of $1,100,000, it had gradually been reduced every month until it was priced at $765,000.  We just received the notification of the price reduction on Dec 8, 2011.  We quickly set up a showing appointment.  The house was painted a rainbow of colours and needed some work, but it was OVER 3000 SQUARE FEET in size!  It was a tremendous opportunity and we jumped on it right away.  By Dec 13, we had the house in escrow.  We won out over other buyers as we moved quickly and we were able to purchase the home for asking price of $765,000.

About 1 year after they moved in, they called to tell me that they had their home appraised and it was now worth 1 MILLION DOLLARS!  Yes, within 1 year, the house gained 30% in value!

Fast forward 5 years, and Janet and Rick are thinking of a change.  I ran some comparable properties for their home and guess what?  Their home is now worth about $1.3 Million!

You know what else?  They will be able to make up to $500,000 in profit TAX FREE due to capital gains exemptions*!  

Guess what?  Once we sell their house, they will have many options to choose from…one of which is to take that trip around the world for 6 months that they always wanted to do!

What are you dreams and aspirations?  How can I help you realize them?  Click here to set up a time to chat and let’s figure it out together!

Talk soon!

Revi

 

*Please check with your tax professional. This is not intended to be Tax advice.

Coolidge Ave Block Party 2016

The Mendelsohn Group had the pleasure of sponsoring the Coolidge Ave. Block Party on Sunday, September 18th! We met so many wonderful neighbors and their beautiful families on Sunday! We made so many great new friends, and had the chance to hear them talk about their beloved neighborhood. Click here to hear Skyler and Liberty talk about how Coolidge has evolved over the years. Click here to watch the interview with one of Coolidge’s longest residing neighbors. This neighborhood has such a special feel to it, we were so happy to be warmly welcomed. The Mendelsohn Group provided a bounce house for the kids, and an ice cream truck for everyone! We even did a raffle for two awesome gift baskets. Thanks to all the neighbors at Coolidge Avenue for showing us such a good time. See below for all the great pictures of the event!


Bonnie shares her love for her Coolidge Ave neighborhood.
https://youtu.be/a98cWrqFO0Q

Skyler and Liberty discuss their beloved Coolidge Ave.

We are nowhere near Bubble Range!!

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There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.

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The graph definitely looks like a rollercoaster ride. And, as prices begin to reach 2006 levels again, it “seems logical” that the next part of the ride would be downhill. However, this graph includes the anomaly of the price bubble and the correction (the housing crash).

What if the bubble & bust didn’t occur?
Let’s assume that instead of the rise and fall in home prices that we saw last decade, we just had normal historic appreciation from 2000 to today. According to the 100+ experts that are surveyed for the Home Price Expectation Survey, normal annual appreciation for residential single family homes from 1987 to 1999 was 3.6%.

Starting with the median home price in 2000, we added 3.6% to it each year since then. Here is that graph intermixed with the above graph.

FB_IMG_1472657132327

What this shows us is that, had the bubble and crash not occurred and instead we just had normal annual appreciation over this period, prices would actually be greater than they are today.

Bottom Line

There is no reason for alarm as prices seem to be right in line with where they should be.

Want to talk about what this means to you as a buyer or seller? Call Revi today! 310-963-7384

Source: Keeping Current Matters 2016

The Mendelsohn Group presents at Career Day!

Last week, The Mendelsohn Group was invited to and had the pleasure of presenting at TWO Career Days! Environmental Charter Middle School in Inglewood and Shalhevet High School on LA’s Westside welcomed us and gave us the chance to spend the afternoon with their student body. Both fun-filled days involved professionals from all different career fields educating students about what our jobs entail.

We took the opportunity to not only educate, but to inspire young kids to work hard and find what they are really passionate about. I got to talk about how I found my passion in Real Estate, how I’ve worked to be successful, and what we do in an average day at The Mendelsohn Group! We covered everything from gaining clients, and helping buyers find a home to listing a home and marketing our listings and brand. We also got to answer questions the students had for us, and hear what their dreams for the future were.

Students at both schools were incredibly smart, attentive, and passionate about their futures. We are so thankful to both Environmental Charter Middle School and Shalhevet High School for inviting us to share our love of Real Estate with such eager children! We were so happy to be a part of such an influential day for these soon-to-be young professionals. And the students got w some of our new Mendelsohn Group swag — water bottles and pens!

 

I think we even helped inspire some future realtors!

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Another Moms Night Success and Plans for the Next

Moms Night Out Number 3 was a success! Wednesday, March 30th was our last Moms Night Out at Seasons 52 in Santa Monica, as this location will be closing next week. The events crew at the restaurant took such great care of us, by giving us FREE happy hour food and drinks for the first two events! We are sad to see them go, but are very excited about exploring new locations for future Moms Night.

Click photos to enlarge

Our next Moms Night is going to be held a bit more centrally located for those of you coming from the Valley or the East. We will be meeting on April 19th at En Sushi at 6:30 PM. Get there before 7 PM to take advantage of their fabulous happy hour deals! If you haven’t received e-vites yet for Moms Nights yet, be sure to sign up by clicking the link below!

Click here to join us!

We plan to continue meeting once a month at different restaurants around the greater Los Angeles area. The Mendelsohn Group has a Google Form and closed Facebook Groups to send out information about future meet ups. We would love for you to join us at one of our nights out, and feel free to tell your friends! Just fill out your name, email, and what part of town you are in, and we will send you official invites to each upcoming event. If you are interested, click the link below to add yourself to our list.

Click here to receive an invite!

We’ve also got a closed Facebook group for moms to ask questions, set up play dates, and arrange to get together. We would also appreciate any feedback and ideas about events, locations, etc. If you’d like to be a part of this forum, please direct message Revi on Facebook expressing your interest (click here)! Include your full name, email address, and where you are from.
We can’t wait to meet you at our next Moms Night Out on April 19th!
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Top 5 Tips for Opening a New Escrow!


Opening escrow, especially for the first time, can be a bit like navigating uncharted waters. Based on our experience opening multiple escrows for over 12 years, The Mendelsohn Group has compiled a list of useful tips to help homebuyers through escrow with ease!

  1. Read through all paperwork and stay on top of all signatures. If you were to print out every single piece of paper involved in the purchase or sale of a home, the file would easily be three inches thick! As you can imagine, it can be a bit overwhelming to deal with all of that paper. Do your best to stay on top of it and READ and sign as it is sent to you. Don’t hesitate to call your agent with any questions before you sign.
  2. If you are currently renting, DO NOT GIVE NOTICE of your intended move-out date until ALL CONTINGENCIES are removed on your sale. This is incredibly important because if something falls through, you could potentially be out of a place to live! As Revi always says, “I’d rather you have two places to live than none!”
  3. Avoid posting anything on social media regarding the sale. This helps protect you against your landlord finding out of your plans to move prematurely. Posting on social media during negotiations could also affect you negatively because you never know which friends buyers/sellers have in common. When Revi is representing you, she is always planning strategically to get you the best possible deal! As Revi says, she keeps things “in her back pocket” to benefit you in the deal.
  4. Do not discuss any repair or inspection matters with your lender under any circumstances. This is key to ensuring a smooth lending process. If you are unsure of any matters, consult your real estate agent. Bringing inspection matters to the lender’s attention can complicate the loan, and potentially cause the deal to fall apart.
  5. While in escrow, do not make any large purchases such as a new car, furniture, or anything that can affect your credit score and ability to get the loan. The lender repeatedly checks your credit ratios during and up to the close of the loan. Before making any changes such as employment, opening or closing bank accounts, or making large deposits, speak to your realtor and your lender to confirm it has been set up properly. Revi and The Mendelsohn Group team are here to help you every step of the way — no question is too big or too small!

If you have any questions regarding the escrow process, or real estate in general, do not hesitate to contact Revi Mendelsohn at 310-963-7384!

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TOP 8 reasons Why Home Buyers Want The Mendelsohn Group on Their Side

Are you thinking of buying property? Maybe you are looking for investment opportunities. Or maybe you are ready to take the big leap into owning your first home. The thought can be overwhelming if you don’t have the guidance of an experienced team on your side. The Mendelsohn Group has over 12 years of residential purchase experience. We specialize in the following to ensure a positive home-buying experience, and get the best possible outcome for our clients:

  • We help our clients pay an average of 3% UNDER asking price
  • We offer a proprietary “Top Five Deal Breaker System” to help clients determine what is most important in their next home
  • We make our clients feel like they are our only clients through award-winning* customer service and sales experience
  • We provide outstanding project management skills. We have an excellent reputation amongst our peers, as evidenced by listing agents preferring to work with The Mendelsohn Group
  • We regularly secure property from multiple offer situation through successful packaging buyers to listing agent
  • We have excellent negotiation of repair credits due to experience and understanding of home repair
  • We practice solution-oriented strategies to bring all parties of the sale together
  • We present top notch service providers for any repairs after the sale, as well as follow-up with clients to ensure they are settled in their new home

*Rodeo Realty’s Vice-President’s, President’s, and Executive Circle awards 2010-2015  and Coldwell Banker’s Prestigious President’s Circle 2007

Another happy family in front of their first home!

Another happy family in front of their new home!

Last week we closed escrow for a family on a wonderful home in West LA. After several months of searching, we were able to secure 2nd backup position on a home (2nd backup means that 1st backup is in front of us, but 1st backup is behind the buyers in escrow). It was a bit of a challenge for our buyers, as they had access to a special loan program for Military Veterans. This Veterans Administration loan is unfamiliar to most agents in LA.  We had to educate the listing agent and sell her on our buyers. In a matter of 4 days, the 2 other buyers both in escrow and 1st backup dropped out and we won the house! Now our clients’ kids have a yard to play in and to plant a vegetable garden in. They never imagined that they would have two extra bedrooms, one for a home office and the other, a playroom.

For more stories of The Mendelsohn Group’s successful purchase negotiations, click here! If you are looking for these types of results in this highly competitive Real Estate market, call Revi at 310-963-7384.

 

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Why Home Sellers Want The Mendelsohn Group On Their Side

Are you thinking of selling your home? The thought can be overwhelming if you don’t have the guidance of an experienced team on your side. The Mendelsohn Group has over 12 years of property sales and listing experience. We specialize in the following to ensure a stress-free transaction, and get the best possible outcome for our clients:

  • An average of 108% of percent of asking price
  • Full preparation of the home, and assistance with all renovations ranging from painting to complete kitchen refacing. Click here to see our unique approach.
  • Complete consultation on property condition to determine which repairs are most cost effective prior to listing, preventing and reducing buyer credit requests while in escrow.
  • Access to and referrals of top notch service providers for any repairs
  • Marketing the listing on multiple platforms, to ensure it is reaching the biggest audience
  • Under 4 days* on market to receive first offer (*average based on 4 most recent sales) Click here to see the outcome of all of our most recent sales.

The Mendelsohn Group strives to get the most for our clients, through our unique approach in preparation for launch, to our negotiation skills during the escrow process, all the way to staying in touch long after the close of the sale. Take it from our clients below, who sold their home for 18% OVER asking price working with The Mendelsohn Group, and click here to read more of what people have to say about us!

She was patient, professional, and extremely knowledgable…

“We recently sold our Mar Vista home and realtor Revi Mendelsohn worked with us from day one to put together a successful sale. She worked closely with us months before our home sale to determine what sort of improvements we might decide to make. She helped guide us through so many complicated decisions about the best ways to prepare our house to go on the market. Every step of the way, she was patient, professional, and extremely knowledgable. In fact, every piece of her advice paid off. We sold our house for way over our asking price and I’m certain the amazing result we achieved was due to her smart, sensitive, and forward-thinking approach. I had seen her recommended so many times online and wondered if she was really as good as everyone said. And I can tell you that she absolutely is the real deal. She is so easy to work with and will go to bat for you no matter what. You will not be disappointed. If you or anyone you know needs some real estate assistance, talk to Revi. You’ll be so happy you did!” – Cindy and Trent Jones, Home Sellers in Mar Vista 2015

If you have any questions or inquiries, feel free to call Revi at 310-963-7384. We look forward to hearing from you soon!

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First Moms Night Out Success!

After seeing an anonymous post on social media from a mom new to Los Angeles discussing how hard it was to make friends in a new place, The Mendelsohn Group got inspired. We thought, why not put the feelers out to see if we could get a group together? From this idea, the first Moms Night Out came to be!

Having moved from Canada to Los Angeles nearly 15 years ago, I understand how difficult it can be to meet people. Even if you haven’t moved, being a mom and finding ways to make friends sometimes prove challenging. This resonated with me, and I wanted to make it easier for us moms to have a night to ourselves!

On January 19th at the Season 52 in Santa Monica, thirteen ladies got together to mingle with other moms new to Southern California. We had people from not only all over the country, but all over the world! The night was a blast — Seasons 52 was generous enough to support our evening with complimentary happy hour food and drinks for the first hour! We talked about our hometowns, kids, hobbies, and so much more, and enjoyed getting to know each other.

 

We plan to arrange a meeting once a month, at various restaurants all around Los Angeles. The Mendelsohn Group has started a Google Form and closed Facebook Groups to get information about future meet ups. We would love for you to join us at one of our nights out. You don’t have to be from out of town to come, and feel free to tell your friends! Just fill out your name, email, and what part of town you are in, and we will send you official invites to each upcoming event. We want to keep the momentum going, and continue the growth of this wonderful community. If you are interested, click the link below to add yourself to our list.

https://docs.google.com/forms/d/1je95Gm9xyQGdPbVAh9jIkLKxFnE3YWqj9BWwpTejTHw/edit

We’ve also created a closed Facebook group for moms to ask questions, set up play dates, and arrange to get together. If you’d like to be a part of this forum, please direct message Revi on Facebook expressing your interest (click here)! Include your full name, email address, and where you are from.
We can’t wait to meet you at our next Moms Night Out!
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