THE_SHELHAMER_GROUP_LOGO_WHITE-01

Highland Park CA real estate market update April 2020

The Eastside of Los Angeles housing market is up 6%!

It’s late in the afternoon of April 29th, 2020. Glenn Shelhamer owner broker and team lead of The Shelhamer Real Estate Group speaks candidly about the current market condition. Like many people, the past two months Shelhamer has worked from his home office.

Highland Park CA real estate market update April 2020

Comparing sold selling prices March/April 2019 – March/April 2020.

Highland Park CA real estate market update April 2020
Sales 2020
Highland Park CA real estate market update April 2020
Sales 2019

It’s an excellent time for buyers. Comparing the closed sales from March 29th to April 29th, 2020, and March 29th to April 29th, 2019 was surprising. Half as many homes sold in 2020 compared to 2019. However, the median selling price is up 6%! What does this mean?

It means fewer properties are coming on the market for sale and more buyers are sitting on the sidelines. This is great news for buyers! If you’re new to the market or have been getting your butt kicked in multiple offers you now have a chance to grab a great deal. Properties that were getting five, ten, twenty offers, or more are now seeing only a couple if they’re lucky.

What does this mean for Home Sellers?

Highland Park CA real estate market update April 2020

This isn’t all bad news for home sellers. You’ll see fewer offers but real offers. What I mean is, the buyers who are coming to the table are serious buyers ready to close escrow. To protect you, we at The Shelhamer Group have pivoted our seller business model to assure a top-dollar market sale is still possible.

Now more than ever before it’s critical sellers position their houses in the market to attract the widest range of buyers and show the property in its best light.

How are you going to sell my house during the global pandemic?

“The wake of Covid-19 has left some of our sellers unsure of when to list their homes for sale”, Says Karen Jones, an Agent Associate with The Shelhamer Real Estate Group.

Your health and safety are our first priority. We’ve been working closely with the California Association of Realtors as well as local and state officials. Following CDC guidelines is the Shelhamer Group’s office policy. Here is a shortlist of our current approach to helping you sell your home and exceed expectations.

Virtual showings are the new normal

Virtual tours for sellers Shelhamer Group
How are you going to sell my house during the global pandemic?

Breathtaking photos and custom property websites have long been the norm for the Los Angeles real estate market. But now they’re more important than ever before. We’re contracting with local video tour production companies to kick it up a notch.

This software creates experiences like nothing you’ve ever seen before. Prospective buyers will view your home from multiple angles, build functionality on top of it, get accurate measurements, and more. The program creates 3D walk-throughs, 4K print quality photos, and a schematic floor plan.

In-person showings reserved for serious buyers

Open houses in Los Angeles are a thing of the past, at least for now. We get plenty of calls from unrepresented buyers wanting to preview our listings. Unless a buyer can provide a preapproval letter including proof of funds we discourage showings. We’ll also provide the buyers with your disclosure package upfront.

Inspectors and appraisers may go solo

Sellers allow multiple people into their homes during the escrow period. To limit the foot traffic we’re following social distancing rules and suggestions. We either request sellers to leave the property for a number of hours or even a couple of days if that’s not an inconvenience. This hasn’t been too much of a shift. Rarely do we see home sellers hanging around while the buyer’s camp inspects. It’s customary to allow the buyer this time to get more familiar with the house.

Remote document signing is the new normal

This has been a standard practice for the real estate business in southern California for years. Now it seems to be a national push for this safety practice. The ability to close remotely also depends on the buyer’s lender.

Joe Tishkoff and his team from Finance of America are our preferred direct lender and mortgage advisers. They have been practicing progressive digital uploading and signing for years. It’s possible to sell your home without ever stepping foot outside of the house. That is unless the home inspector is knocking on the front door!

Links we love:

Lynn Pineda explains how to sell a home during social distancing.

Sharon Paxon shares good advice for these uncertain times with the COVID-19 pandemic halting the economy. You may be asking yourself if now a good time to purchase a home.

It is imperative that you have an experienced buyer’s agent when purchasing during the COVID-19 Pandemic  The Realtor will be able to educate you about the importance of a pre-approval, viewing the home virtually and following state and county orders regarding showings.

Petra Norris has a few helpful thoughts on how to procure a successful sale during these trying times.

COVID-19 REAL ESTATE SOLUTIONS

Glenn Shelhamer real estate broker Los Angeles

Glenn Shelhamer is a nationally recognized Real Estate leader who has been helping people move in and out of the Los Angeles area for many years. He is also the team lead of The Shelhamer Real Estate Group. When Glenn’s not selling real estate he can be found spending time with his beautiful wife and two terrific kids.

Shelhamer Group real estate company

David Clark - 805.280.1425​

I’m David Clark, a Californian, real estate advisor REALTOR®, and writer for the Shelhamer Real Estate Group located in Northeast Los Angeles California, the fastest growing real estate market in Los Angeles County. Connect with me for further information about this article, and to add and optimize the value in your property. Look for me on Instagram: @sellingnortheastla

Shelhamer Group Logo Compressed

Mls Disclaimer:

Based on information from the / Association of REALTORS® (alternatively, from the /MLS) as of [date the AOR/MLS data was obtained]. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Contact

The Shelhamer Real Estate Group

361 N Avenue 57

Los Angeles, CA 90042-3403

 

Call: 310-913-9477

Quick Links

Stay Connected

Which Newsletter Insights Are You Most Interested In?(Required)
This field is for validation purposes and should be left unchanged.

THE SHELHAMER GROUP   |    DRE: 01950995

Glenn Shelhamer is a licensed real estate broker DRE: 01950995 in the state of California and abides by equal housing opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. To reach The Shelhamer Real Estate Group’s office manage please call (310) 913-9477.

©2019 Finance of America Mortgage LLC is licensed nationwide | Equal Housing Opportunity | NMLS ID #1071 (www.nmlsconsumeraccess.org) | 300 Welsh Road, Building 5, Horsham, PA 19044 | (800) 355-5626 | AZ Mortgage Banker License #0910184 | Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act | Georgia Residential Mortgage Licensee #15499 | Kansas Licensed Mortgage Company | Licensed by the N.J. Department of Banking and Insurance | Licensed Mortgage Banker — NYS Banking Department | Rhode Island Licensed Lender | Massachusetts Lender/Broker License MC1071. For licensing information go to: www.nmlsconsumeraccess.org. Questions, comments, concerns? Send to customerrelations@financeofamerica.com

This is not a commitment to lend. Prices, guidelines and minimum requirements are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision. Any materials were not provided by HUD or FHA. It has not been approved by FHA or any Government Agency. A preapproval is not a loan approval, rate lock, guarantee or commitment to lend. An underwriter must review and approve a complete loan application after you are preapproved in order to obtain financing.

Copyright © 2022 Shelhamer Group. All rights reserved.