Tag Archives: Real estate

Real Estate Market update December 2018

 

As we wind up the year, I wanted to share an update on the current local Los Angeles Real Estate market.  I have been hearing people talk about what they think is going to happen and some who have said that they think that the market will implode and crash!  

Please understand, we have not gone from a good real estate market to a bad real estate market. We have gone from an abnormal market to a normal market. The abnormal market was where there was only one month of inventory, interest rates unusually low, almost all homes on the market got multiple offers, and prices went up every month.

A normal market has a healthy amount of inventory and buyers have choices. It is more important than ever to hire an agent with skill and experience!  How can I be of service to you?
Warmly, 

Revi Mendelsohn, Realtor | The Mendelsohn Group Rodeo Realty Beverly Hillscell/txt: 310-963-7384fax: 310-388-1101Click here to book a phone appointment with Revi
[email protected]www.TheMendelsohnGroup.com5 Star Zillow Reviews
BRE#01461233

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Top Ten Legal Mistakes Home Buyers Make

If you are working with a qualified Realtor, you should be receiving the guidance you need to make smart Real Estate decisions when you buy or sell.  At the same time, you should educate yourself about the Real Estate process so that you understand the steps required.  I truly love what I do and I enjoy teaching my clients about what I do and why I do it, and of course, how it benefits them.  Some of the things that I handle by way of closing the deal are: 

  • Taking the time to assess the buyer or seller at the other end of the deal.  This helps us with making the right decisions with regard to how we market our offer, counter offer, and deal points.
  • Meeting with inspectors at your property to determine condition of the home.  My extensive remodeling and construction experience allow me to provide you with realistic costs and timelines for repairs.
  • Meeting with the appraiser to provide the most appropriate comparables for the property you are buying or selling
  • Acting as a project manager with all of the players involved in the transaction.  This includes, escrow officers, title officers, loan officers, multiple inspectors, retrofitters, contractors, etc.
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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.

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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Why Do We Need CO Detectors?

Have you owned your home since before 2011? If so, do you know if you have a carbon monoxide detector installed in your home? Since the California Carbon Monoxide Poisoning Prevention Act of 2010 was passed in early 2011, it is now a requirement by law, and a retrofit requirement when selling your home that CO monitor be present. 

 How do you know if you are exposed to carbon monoxide?

Carbon monoxide is virtually undetectable by humans. It is colorless, odorless, and tasteless. Accidental over-exposure to carbon monoxide results nearly 200 deaths every year. It is emitted by various equipment in and around your house such as:

  • Fuel fired furnaces and fireplaces
  • Gas water heaters
  • Gas stoves
  • Gas dryers
  • Charcoal grills
  • Lawnmowers and other yard equipment
  • Automobiles

How do I prevent CO exposure?

1. The best defenses against carbon monoxide poisoning is installation of a CO detector.

2. Proper installation, use, and maintenance of household cooking and heating equipment, and safe use of vehicles and other gas-powered equipment.

 

 

How should I install my CO Detectors?

1. Centrally located outside of each sleeping area in the immediate vicinity of the bedrooms

2. At least 6 inches from all exterior walls , and at least 3 feet from supply or return vents

3. Avoid locations that can be covered by furniture or draperies.

arm-4How do you test the CO Detector to ensure it is working?

Consumers should follow the manufacturer’s instructions. Using a test button tests whether the circuitry is operating correctly, not the accuracy of the sensor.

What should you do if the CO alarm sounds?

1. Never ignore an alarming CO alarm!

2. Immediately move outside to fresh air.

3. Call your emergency services, fire department, or 911.

4. Do a head count to check that all persons are accounted for. DO NOT reenter the premises until the emergency services responders have given you permission.

Are CO Detectors reliable?

CO alarms always have been and still are designed to alarm before potentially life-threatening levels of CO are reached. The safety standards for CO alarms have been continually improved and currently marketed CO alarms are not as susceptible to nuisance alarms as earlier models.

 

Even if you aren’t planning to sell your home, it is best to air on the side of caution and have CO detectors installed as soon as possible. These inexpensive devices (costing around $100) can potentially save a life. If you are unsure about the maintenance of gas-powered appliances in your home, consider having a qualified technician inspect your appliances to ensure their safety, and discuss proper installation of detectors. This small measure can prevent you and your family from falling victim to carbon monoxide poisoning.

 

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