Tag Archives: The Mendelsohn Group

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
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We saved our buyers $86,000 on their new Westwood home!

For the second time this year, in a seller’s market, we were able to help our buyers purchase their home for UNDER asking price! (Did I mention that we also sold their previous property for $80,000 OVER asking?)

This time the house was in Westwood, and originally listed for $1,649,000!

After negotiating credits and price, we were able to help our buyer purchase the home for a net price of $1,563,000!   That is a net savings of $86,000

Wondering how we did it? Call Revi and she will share with you how her negotiating style, 14 years of Real Estate experience and passion for customer service wins the deal every time.

Whether you are buying or selling, Revi will work harder than anyone to get you the deal you want, and then some!

Want to know more about what people have to say about Revi? Click here

Call Revi or click here to set up your free 15 minute consultation on how to win in Real Estate in the Los Angeles Area. 310-963-7384

Behind the scenes: What happens when you hire Revi Mendelsohn to sell your home?

You just spent an hour online looking at houses for sale in your area.

Some were amazing, and you were dying to see them in person, some not so much.

Have you ever wondered what the difference was between each of those sellers’ agents?

Why do some agents have amazing presentations, sell their listings in the first days on market, and others….not so much?

Have you ever wondered what happened BEFORE you the listing hit the market?    Here is a glimpse into what happens “backstage” and “before the show…aka Open House”  (Don’t forget to check out Before and After gallery too)

I will share with you some information about a recent listing that I had in Brentwood.  

I have known the sellers for about 2.5 years now.  They were referred to me by a past client.

B and A hired me to help them purchase their first home.  Within 1 month of our search, we were able to find them the condo that they wanted to purchase.

Fast forward 2 years and B and A’s twins are now walking and talking and the family needed more space.

They contacted me in February of 2017 and told me that they wanted to start making a plan to move in the summer of 2017.  Since they had purchased their condo in July 2017, they wanted to close no sooner than their second homeowner anniversary.

We met again in May and made a preliminary plan for their sale.

Here is a step by step list of how we made it happen for them.

-clients told me their renovation budget

-I assessed what needed to be fixed in the house and prioritized the list based on Return on Investment

-reviewed the list and fit required items into their budget

-priced out each repair and helped client choose the service provider

-negotiated with service providers to get best value for seller

-created a renovation schedule and met with service providers to ensure work was completed

-checked on work and instructed service providers as needed

-once work was completed, sent photos to the client

-client arranged for service provider payment

-met with stager and had staging completed

-verified stager’s work and had stager make corrections…in this case, the stager was missing some items, so I went to the store and replaced/added some items.

-reviewed pricing and went over any new comps in the area. Reconfirmed list price.

-met with professional photographer at the property, discussed marketing strategy and target market.

-selected best photos for marketing the property

-listed the property in the mls and other syndicated real estate sites.

-sent out advertising on Social media and online

*This is a sample of the work that was done behind the scene—each listing is different and unique*

Want to see the results?

Click here to see the result of the sale described in this post

We offer an all in one solution to your home selling needs.  Not every property needs to have renovation work done. In fact, we work with each of our sellers to customize their home selling plan to ensure that it meets their needs and goals for selling.

For more info or to meet with Revi, call or text 310-963-7384.

Home Maintenance Checklist

I recently had the pleasure to help a client with a property that she was renting out.  She owned the property for many years and unbeknownst to her,  there were some items in her home that were in need of repair.  We found some of the repairs entirely by accident, and luckily, we were able to remediate and repair them in time for her new tenants to move in.  She suggested that I put together a list of regular home repairs that property owners should do on a regular basis, and thus, this blog was posted for you.  Over the years, I have learned alot about home repairs as I sit through home inspections and help guide and strategize with my  buyer clients through their inspection contingency periods.  If you are thinking about buying or selling, give me a call and let’s figure out the next steps to make your experience the best that it can be.     Warmly, Revi

Home Maintenance Checklist

Owning and caring for a home is a big responsibility, but the right repair tools and maintenance tips allow for easy living. Smoothly navigate your home’s seasonal upkeep with our home maintenance checklist and expert advice.

Like a health physical, routine maintenance is important for every home’s upkeep and well-being. Continuing to check up on your exterior, appliances, heating and cooling, plumbing, security, and electrical systems will help prevent breakdowns, save money, and keep your home looking its best.

Monthly Home Improvements

Inspecting your home and completing monthly home improvement projects will keep your maintenance schedule on track and easier to manage. A comprehensive monthly home improvement checklist is easy to implement, both in terms of time and money. Here is a list of basic monthly home improvements:

  • Clean the furnace filter to remove dust build-ups, make it easier to regulate your home’s temperature, and ultimately decrease utility bills.
  • Check the water softener and replenish salt if necessary.
  • Clean faucet aerators and showerheads to remove mineral deposits.
  • Inspect tub and sink drains for debris; unclog.

Seasonal Home Improvement:

Fall Maintenance Checklist

In many regions, fall is the perfect season to tackle important home improvement projects because the weather is generally dry and temperatures are moderate. Before you start your seasonal home improvement tasks, examine both the interior and exterior of your home. Most of these home maintenance items can be accomplished without the help of a professional, but it’s always better to be safe and call for assistance if a home improvement project is beyond your abilities. Here are our seasonal home improvement recommendations for fall and spring:

  • Rake leaves and aerate the lawn.
  • Have forced-air heating system inspected by a professional. Tip: schedule an inspection in late summer or early fall before the heating season begins.
  • Check fireplace for damage or hazards.
  • Seal cracks and gaps in windows and doors with caulk or weather stripping; replace if necessary.
  • Swap old, drafty windows for more energy-efficient models.
  • Touch up exterior siding and trim with paint.
  • Inspect roofing for missing, loose, or damaged shingles and leaks.
  • Power-wash windows and siding.
  • Remove leaves and debris from gutters and downspouts.
  • Mend cracks and gaps in the driveway and walkway.
  • Drain and winterize exterior plumbing.
  • Have fireplace professionally inspected.
  • Tune up major home appliances before the holidays.
  • Repair or replace siding.
  • Replace the batteries in smoke and carbon monoxide detectors. Install a smoke detector on every floor of your home, including the basement.
  • Clean the carpets.
  • Clean window and door screens.
  • Vacuum lint from dryer vent.
  • Inspect exterior door hardware; fix squeaky handles and loose locks.
  • Check for frayed cords and wires.

Spring Maintenance Checklist

  • Inspect roofing for missing, loose, or damaged shingles and leaks.
  • Change the air-conditioner filter.
  • Clean window and door screens.
  • Polish wood furniture, and dust light fixtures.
  • Refinish the deck.
  • Power-wash windows and siding.
  • Remove leaves and debris from gutters and downspouts.
  • Replace the batteries in smoke and carbon monoxide detectors.
  • Have a professional inspect and pump the septic tank.
  • Inspect sink, shower, and bath caulking for deterioration.
  • Vacuum lint from dryer vent.
Original article appeared on BHG.com

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.

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.

Screen Shot 2016-09-03 at 11.40.28 PM

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.

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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