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Monday, April 14, 2014

Specific Price versus Value Range: What Best Determines a Home’s Value?



There are many great Los Angeles area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Valuation so you know what buyers will pay for your home in today's market. You may also call me at (310) 432-5755 for a FREE home buying or selling consultation to answer any of your real estate questions.

Specific Price versus "Value Range": What Best Determines a Home’s Value?

Today I wanted to address an email that I had sent out a few weeks ago inviting you to check out our Home Valuation website. This website allows you to view the estimated property value of your home. We had an overwhelming response to this news!

I did receive questions about the accuracy of the numbers from both buyers and sellers. Homes do not sell for a certain “set” price – they always sell in a “value” range, from low to high. Where a home ultimately sells within that range depends on the agent’s skills in marketing, presenting and preparing the home for sale. Other factors include the negotiations that occur between the listing agent and the agent representing the buyer, and also the pricing strategy that is employed to sell the home.

To test the accuracy of other Home Valuation sites, I used a home that we recently sold as a test subject. These websites were all over the place and tried to give me a specific price – not a value range. Regardless of what the computer says, it is critical to look at the home’s features and benefits to determine the value of the home.

If you have any questions in regards to buying or selling, please feel free to reach out to me. 

Thanks and have a great day!

Tuesday, March 4, 2014

Important Market Update from the Keller Williams Convention in Phoenix



There are many great Los Angeles area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (310) 432-5755 for a FREE home buying or selling consultation to answer any of your real estate questions.

Last week at the national Keller Williams convention I learned some incredible things that I would like to share with you. Gary Keller, founder of Keller Williams Realty, gave a poignant speech on the real estate market and where he thinks that it is headed.

Annual Home Price Appreciation
Gary Keller showed us some pretty enlightening graphs that document the annual appreciation of homes from 1989 to the present.
  • From 1989-2000 home appreciation went up by an average of 3.39% each year.
  • From 2001-2006 homes values shot up by an average of 8.9% each year.
  • In 2007-2011 during the real estate recession, home values dropped by an average of 4.6% each year.
  • Home prices appreciated by 6.3% in 2012 and also went up by 11.5% in 2013.
Gary's question was whether or not we thought we would see the trend from 1989-2000 continue, where we had homes increasing in value by around 4% annually.

  • Gary actually believed that we would see a new trend starting in 2011. This should be an interesting phenomenon to track in the future as our market continues to recover and home values continue to increase.
If you take a look at the second graph you'll see most of the same information from the first one, but you may also notice that it outlines a very important fact.

  • Since 1989 when the National Association of Realtors began tracking this data, we saw the second largest gain in home appreciation in 2013.
    • 2013 saw an appreciation of 11.5%, compared to in 2005 when home prices appreciated by 12.2%.

Hopefully this information has been helpful to you if you're deciding to buy, sell, or invest in 2014. Also, if you're wondering about the value of your home or if you would like to search for properties, please contact me at (310) 432-5755 or email me at Info@BatsalkinGroup.com

Monday, December 23, 2013

Happy Holidays and Thank You!



The holidays are approaching and with that comes the special time of year where we want to give thanks and show love to our family, friends and people who have helped us this past year. I hope my family, clients and business partners feel the same way and offer thanks to the people who have made you the person you are today. I want to wish you all a happy and safe holiday. Thank you!

Wednesday, December 11, 2013

Is Now the Time to Sell Your Home?



My name is Danny Batsalkin with Keller Williams Luxury International and welcome to my video blog! Are you wondering if the holiday season is a good time to sell your home, or is better to wait until next year? The holiday season is a great time to sell your home; you have the opportunity to make more money selling your home during the holiday season then waiting until next year. The reason being relates to the fundamental driving force of real estate, supply and demand. Everyone is familiar with supply and demand, so let me share with you how it relates to real estate during the holiday season.

During the holidays, supply is typically low and the reason being most sellers are waiting until January, February and March to sell. People tend to avoid seller during the holidays due to hectic schedules, family events and don’t want to deal with the hassle, causing supply to stay fairly low. As for demand, which data supports, there are a lot of buyers out in the marketplace during the holiday season. Also, the buyers who are in the market at this time of year are serious buyers with the reason being if people are taking time away from their families to look at homes, they are serious buyers. The supply and demand data does reflect that demand does rise during the holiday reason and tapers at the beginning of the year.

Another factor that can’t be measured by data is the emotion of the buyers; real estate transactions are an emotional experience. Buyers in the holiday season are in a better mood, home show better during the holidays because they’re decorated (along with neighborhoods) and buyers are more inclined to make an aggressive offer. Our own experience shows this to be true; for example, a week and half ago we listed a four unit property in Los Angeles and seller was questioning whether to sell now or wait until next year. After being on the market for only six days, we received multiple offers and the property sold over asking price.

The holiday season is a great time to sell your home; you may get more money by doing it now. If you’re interested in the price of your home, we provide a free instant home evaluation report. We also offer a more in depth look into what your home is worth and it is just a phone call or email away. Thanks and happy holidays!