When Selling, Don’t Overlook the Details

There are so many things to do when you are selling you home: making sure the house is clean all the time; making sure you answer all the calls from agents wanting to show it to prospective buyers; finding somewhere to go when showings take place; and so on and so on.

A very important part of the marketing process (a detail), is the listing itself. Don’t forget to ask your agent (hopefully me) to show you the listing submitted to the Multiple Listing Service. I’ve noticed that some agents take tons of pictures and many of them do not show the best features of your home. A townhouse listing I was looking at had ten pictures of the outside stairways, the front door, and even a picture of a neighbor’s dumpster! It’s not the number of pictures, it’s the pictures themselves. Also, we are able to label the pictures, and they should all be labeled. If your property has a view of the ocean, coastline or city lights, there should be good photos of the view, not extensive verbiage about how spectacular the view is. If the listing reads, “spectacular, panoramic views of the ocean and coastline”, and a prospect sees the home and notices that there is only that view if you are out on a deck with a telescope, he may be so disappointed that he will pass on your home. However, if the description is accurate, or maybe even under-played a little, the prospect may just fall in love with the view, and the offer to purchase will be put on the table. Unless your bathrooms are simply spectacular, there should not be pictures of them. If you have a large yard, as long as it is well kept, include pictures that show how large it is.

If the showing appointment times are limited and your home is difficult to show, it will be difficult to sell. Perhaps asking for offers “subject to inspection” may be an option.

I’m sure I haven’t covered all the little details, but remember that “the devil’s in them”.

90274 Zip Code Facts

The 90274 zip code includes the cities of Palos Verdes Estates, Rolling Hills Estates, Rolling Hills and the unincorporated area of Los Angeles County (Palos Verdes Peninsula).

There are 9437 households of which 87% are owner occupied;  71% are married; 35% have children.   The median home sales price is $1,225,000.  The median age of the inhabitants of this zip code is 31.88 years; 38% have a bachelor degree and 25% have graduate degrees.  83% are white collar workers, mostly in service industries and most commute by car thirty minutes to their places of work.

This information was obtained from the Realist tax portion of our Multiple Listing Service and though believed to be accurate, is not guaranteed.

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It is a Great Time to Sell Your Home in Palos Verdes Estates

There were 33 home sales in Palos Verdes Estates during the first quarter of 2013, compared to 38 sales during the first quarter of 2012.

The median sales price in 2013 was $1,750,000 compared to $1,300,000 in the first quarter of 2012.

The average market time was 112 days compared to 133 days in 2012.

The inventory of homes for sale is down 50% since last year.  The lack of competing homes on the market; the increase of the median price; the decrease of days-on-market make this an ideal time to sell your home in Palos Verdes Estates.  Contact me for a complimentary market evaluation of your property. If you are a buyer, do not hesitate; I believe home prices will continue to rise this year.  Contact me for an appointment to see some of the outstanding homes in Palos Verdes.

 

Beware of Unsecured Property Taxes

A couple of years ago I marketed a home in Palos Verdes Estates for a sister and brother who had inherited the property from their mother a year earlier.  After the escrow closed, my clients phoned me to say they had received a bill for “unsecured property taxes” in the amount of $4400.  After some investigation (because I had never heard of unsecured property taxes), I discovered that when a person dies and the property is inherited, it is considered a transfer just as if the property were sold, and the property is reassessed as of the date of death of the decedent.  Because the property was sold a year after the death, my clients were charged with the difference between the property taxes owed before the death and the re-assessed value at death plus steep penalties for their being late.  Because the sales price was used as the basis for the value at death, that value was used for the unsecured property tax assessment.  My clients should have been excluded but an application for parent to child exclusion had not been submitted to the Tax Assessor.

This parent/child or grandparent/grandchild exclusion must be filed within three years after death/transfer, put prior to the date of transfer to a third party, or within six months after mailing of a Notice of Assessed Value Change, issued as a result of the transfer of property for which the claim is filed.  An application may be obtained by calling 213-893-1239.  This information was obtained from the Los Angeles Tax Assessor web site:  www.assessor.lacounty.gov.