A look at Compton, CA Real Estate

Perfectly situated in the center of LA County, convenient to all of LA’s major freeways and with a range of affordable housing opportunities, homes for sale in Compton are always in demand.

The City of Compton, located in South Los Angeles, is widely referred to as LA’s “hub city” due to the fact that it is located in the geographic center of Los Angeles County. A young community with an average age of 25, it is one of the oldest cities in Los Angeles. Public interest in Compton homes for sale has seen a sharp increase in recent years due to its range of affordable housing in 29 constituent neighborhoods.

The median home sale price in Compton trends at approximately $280,000. Distressed properties usually account for around 15% of homes on the market. The median home size stays pretty consistent at 1,170 square feet with a median square foot cost of $246 per. A typical mortgage is $1,589.

Compton is an extremely ethnically diverse and multicultural city with a population of just under 100,000. Many notable individuals in the arts (music and television) are or have been residents there. It is bordered by the unincorporated areas of Willowbrook, West Compton, Rancho Dominguez as well as the cities of Carson, Long Beach Paramount and Lynwood.

Real estate in Compton consists mostly of single family homes, condos, townhomes and duplexes on typical medium to large-sized lots. Property and homes in Compton are always in demand due to low inventory of homes on the market.

The City of Compton provides opportunities for homebuyers looking to flip properties for quick profit. Also, the opportunities for purchasing distressed properties – homes in foreclosure or short sale status – are plentiful.

Compton is easily accessible to five major Los Angeles freeways. Because of its schools (K-12 as well as a community college), a library, sixteen parks spread over 118 acres with community centers and many opportunities for recreation for youth, adults and seniors, Compton is regarded as a great place to live, work, and raise a family.

When choosing a Compton real estate agent … experience matters!

Because demand for homes in Compton, CA is typically high and inventory is typically low, real estate in Compton has become a seller’s market. Both buyers and sellers, then, are advised to work only with real estate agents who are experienced and intimately familiar with Compton’s real estate market to represent them in the transaction.

Questions to Ask Before You Buy a Fixer Upper in Glassell Park

The dream of purchasing a run-down house in older neighborhoods like Glassell Park and beautifying it with our loved ones’ help seems like a rewarding opportunity to practice creativity and fulfill our innate desire to build our own “nests”. Glassell Park homes for sale are always in demand, as the whole of Northeast Los Angeles is perpetually a hot market. But that doesn’t mean you can’t get a great deal on a “fixer upper”.

But before purchasing a fixer upper take some time to reflect on yourself and your current situation to establish a realistic goal of what you can accomplish. If planned and executed correctly, fixer uppers can have a significant pay off and be worth all of the time, money, blood, sweat and tears that were invested. And of course, consulting the advice of an experienced Glassell Park real estate is recommended.

Here are some important points to consider while you examine a prospective house and consider starting this new journey.

Is the house in good shape? The first step to choosing a home is selecting one with minimal damage. Look for anything that needs work and estimate if you have the time, money and patience to complete the project. Cheap houses are not always a bargain once the repairs are calculated. Minor “cosmetic” damages will not require a lot of money or professional assistance. These cosmetic repairs are typically tasks like fixing the floor, painting the walls, and replacing sinks or toilets.

Is there significant structural damage? Cosmetic repairs are simple and cost effective, but structural repairs can turn a dream house into a financial nightmare. If you do not have experience in issues like plumbing, termites, roofing, foundation issues, or wall rotting, you may want to save yourself the tears and say “pass”. These issues can be found during an initial house inspection, so it would not be too late to look for a better option.

Do you have enough time? Be prepared to set aside your workout routines, social gatherings, movie nights and shopping trips while your home is “in progress”. Your weekends, weeknights and any-spare-moment will be filled with priming, painting, sanding and staining. If you are not prepared or willing to put the rest of your life on “pause” than a fixer upper may not be ideal.

Do you have a temporary home? Or are you able to live in your fixer upper throughout the renovation process? Having a roof over your head while repairing the damaged one is an important and often forgotten factor. If you are a person who requires things to be immaculately in order, realize that your options during renovation are: 1) living in another person’s home or 2) living in your own deconstructed house.

Can you locate and hire the right assistance? It takes time and research to locate high quality professionals who will treat your home like their own. You may need to research online, go by word of mouth, and conduct interviews to ensure that you select the right people. It is a good idea to find several estimates and ask for work samples before you hire any professional.

Do you have enough money? Fixing up a house will always require more money than you initially budgeted. Unfortunate issues may reveal themselves or you may discover a new use-of-space for the spare room. If you’re struggling with the down payment, it may be wise to find a house that won’t cost extra in repairs. To be safe, add an extra twenty percent to the renovations estimate and if you can afford that, proceed.

Is your relationship ready? In general, any type of “move” will add stress as you uproot your life and transplant it elsewhere. Throw in purchasing a house and add a dash of renovation and suddenly it is a brand new obstacle. Renovating a house is a major test for couples and can produce a much deeper, closer relationship. It can also have the adverse effect. If you are ready to take your relationship to the next level and discuss joined finances and the your futures together, this is a great step.

Do you have extended support? Regardless if you’re single or coupled, do you have a concrete foundation of people who will be there for you physically and emotionally throughout this process? House renovations are very difficult to do alone, but finding people with expertise and/ or love for you will make the whole transition easier. Remember that help from the family is free and if an accident happens he or she was only trying to do their best!

Do you have high expectations? Because if you do, you should neutralize them. There is nothing wrong with excitement and planning, but house renovations never go off as smoothly or quickly as they do in television shows. There may be disasters, breakdowns, surprises or celebrations. If you put your due diligence into focused planning to fully utilize your resources, your perseverance will pay off and you will create the home of your desire.

An investment in Glassell Park home ownership is typically a sound one. Due to its proximity to two major California freeways, to Downtown Los Angeles, as well as the smoking hot markets of Eagle Rock and Highland Park, a fixer upper may made good sense. They key is, know what you’re getting into.

Is a Mt. Washington Real Estate Agent’s Commission Negotiable?

When buying or selling real estate in Mt. Washington, you’ll need to form a relationship with an experienced Mt. Washington realtor who possesses a record of proven success. Homes in Mt. Washington, CA are always in high demand and whether one is buying a home or selling a home, large sums of money are going to be switching hands.

Real estate business structure is pliable because it is constructed by negotiations and compromises set on the intent of satisfying all associated parties. Agreeing on a commission rate is essential to any real estate relationship. The average commission rate is 6%, but it’s vitally important to remember that this sum will trickle down through other people before your agent receives it.

There is nothing wrong with asking your agent to lower his or her fee. The worst answer you may get is “no”. In fact, approximately fifty percent of sellers ask for a lower commission rate. It is uncommon for buyers to inquire about lower commission because it does not affect them. Some agents may have less flexibility to modify their commission because their brokerages enforce a minimum percentage. The commission percentage is typically split between the buying and listing agent and some agents may work for companies who take a large percentage of their commission.

There are specific circumstances in which an agent may lower his or her fees by a half or whole percentage. If the agent is working on becoming known in Mt. Washington, if they are selling a high-end house or selling in a “hot” neighborhood like Mount Washington, they may accept a lower commission. If a seller has multiple properties to sell at once, the realtor may produce a “group deal” and lower their rate. If you waive somemarketing services, like open houses or social media advertising they may drop their commission rate to compensate the time they will be saving. Lastly, if a seller takes an item that was supposed to come with the house, like the washer and dryer, the realtor may drop his or her commission by the price of a washer and dryer for the sake of the buyer.

To make the most out of your relationship with your Mt. Washington realtor, keep these tips fresh in your consciousness. Do not allow their share of the commission to drop below three percent. They need incentive and desire to put their energy into selling your home. If your real estate agent is working for a lower commission, be cognizant of standard prices to ensure that you wont get marked up for extra fees. If you are working with an experienced agent, appreciate their value and the years of experience they will utilize to sell your home for the highest price. An experienced agent with higher commission could get you a significantly higher price than a lower commissioned agent with less experience.

Before you select a realtor you should committo intensive research to ensure they are the right person to sell your home in Mt. Washington. Ask around your friends and neighbors and see what positive experiences they had with past realtors. Another useful source is the Internet. Any website such a Yelp that has reviews can provide “backend” insight to a potential realtor’s past work. Once you select a realtor, here are some questions to ask to see if they are right for you.

o On average, how long do your listings stay on the market?

o What is your usual commission rate?

o Do you have much experience selling homes in this area?

o What will be your strategy to selling my home?

Once you select a realtor and agree on a commission percentage, sit back, relax and let your Mt. Washington home be sold!

Selling Your Home in Highland Park, CA? Ask Your Highland Park Realtor these Questions

So you’ve decided to sell your Highland Park home? Selling your home is a complex process that should be handled in the care of a thorough, experienced professional Highland Park real estate agent who is passionate about their job and determined to help you. Such an agent is used to the particulars of buying and selling homes in Highland Park, CA.

1) Is realestate your full or part-time job?

An agent working full-time will have more availability to assist you in your housing needs.

2) In the past couple of years, how many houses have you sold in Highland Park, CA?

Each neighborhood has its own unique personality, quirks and prices. Having a real estate agent with experience in selling homes in Highland Park with your property type will increase the probability of getting your desired price range. Ask to see their raw data and stats. Highland Park real estate agents have information on file including the number of houses sold, the average sale to list price ratio, and the average days on the market. Be conscientious of any “re-listings” that occurred and look for changes in sale prices.

3) Areyou representing any Highland Park home sellers now?

An agent with too many clients may not be able to give you the time and attention you need. However, this could also be an indication that he or she is talented at selling homes.

4) What phasesof the sale will be your responsibility and what will you assign to others?

It is common for agents to delegate tasks, but they should still have a heavy presence in supervising the sale of your home. Their answer will provide you insight on their knowledge of selling homes. They should discuss tasks such as: marketing and advertising, open houses, price negotiation, sales terms, signage, buyers qualifications, title, home inspections, contracts and closing the sale.

5) Are you open tonegotiating your fee?

All agents have some degree of flexibility, so if they answer “no” then it may be a good time to interview the next candidate. Payment to your realtor can be organized in the form of sales commission or a flat fee.

6) Inthe current market, what price do you think my home will sell for, and why?

If you have a “goal” price in mind for your home, now is the time to collaborate with your agent to bring it to reality. Your realtor should have reports on recent market data and a pool of comparable homes. In order to determine a price they should evaluate your home’s condition and the amenities included. If they are gathering their information solely off websites like Zillow, they may not have enough relevant information to produce a solid market price for your home.

7) Canyou supply a written CMA and list of homes?

A written comparative market analysis (CMA) is a report containing comparable homes that are currently on sale in the Highland Park housing market. If you see any comparative data that you disagree with, challenge your agent and ask questions to gain further understanding and clarity.

8) Howdo you plan on marketing and advertising my house?

Look for an agent who has an in-depth, detailed marketing plan for your home. The more people that are aware of your sale, the more likely you are to find the right buyer with the right money. See what else they plan on doing besides the bare minimum of listing it on the local MLS and their website. At least one open house should be conducted. Even though some professionals believe open houses rarely yield a buyer, this is a great way to gain exposure for buyers’ brokers.

There should be an ample amount of photos of your house to boost the power of your listing. Find out how many photos will be taken and if a professional photographer will be hired. Having a video tour of your house can be a great way to gain exposure, but it is not necessary.

9) Howlong willmy house belisted with you?

Some agents have a minimum or maximum time limit that they will list a house. Once a house has been listed for three months, the agent will typically remove the listing or re-list it at a different price. Some agents include a “free right to cancel” clause in the listing agreement. If this clause is present then you have the ability to remove your listing if and when necessary.

10) What is your education and experience as a real estate agent?

A real estate agent with at least four years of experience is seasoned, passionate and dedicated to their job. By law real estate agents are required to take in-service classes to keep their licenses up to date. If they have completed any education beyond the minimum requirements they will have more tools to assist you in selling your home.

11) Is your real estate license in good standing? Has a client ever filed a formal complaint against you?

There are websites that allow you to check the validity of a real estate agent’s license. Ask them for the web address.

12) Can you produce a list of names and phone numbers of your past clients that I can contact as references?

When you receive the list, ask if any of the people are relatives and then contact a few to learn about their experience with this realtor.

13) What is your plan for staging my home?

When a prospective buyer walks into your home, you want them to fall in love with the house. A properly staged home will encourage the buyer to think less about the home’s potential and more about how they are going to come up with the money to purchase it. See if your agent will dress the house or if they will hire a stager. A remodeled kitchen and bathrooms can heavily influence potential buyers. A high quality house is compromised of the small details that will set it aside from the competition.

14) How often will we communicate?

There should be an open bridge of communication between you and your real estate agent. He or she should be sending you regular updates on any new information or concerns that may arise. You should have access to their email address and phone number. Ask them when they are not available so you know all the times that you can reach them.

15) Why should I hire you to sell my home in Highland Park?

Your prospective agent should have a ready answer on the qualities of their work ethic that make them the best choice for the job. You want to hire someone who can negotiate well, who is experienced in the market, who is honest and friendly, someone who is responsive and a great communicator, analytical and someone who is passionate to get the results that you want and need.

16) What documents will I have to sign?

Before you sign any sales contract or listing agreement, make sure you fully read and understand the stated clauses. It is advisable to get the second opinion of an attorney. In order to retain protection you should scan the document for a cancellation clause, which gives you the free right to cancel services if you are dissatisfied with your agent’s work.

17) What will be my closing costs?

Discussing closing cost information at the beginning of the transaction will provide a better understanding of what to expect during the selling process, which will dissipate the amount of stress and concerninvolved.

18) Can you supply a step by step of the process for me?

Have your agent explain the process to you now, while you have their full attention, so you do not have to track them down in the future with any questions.

19) Can you give me the URL to your website and/or blog?

All agents should have a website, but not all of them have a blog. An agent’s website is an extension of their prowess and expertise in the business. Take some time reviewing their website and blog to get a feel of their brand and their personality outside of the office.

20) Is there anything I haven’t asked that I need to know?

This will provide assurance of there being no outstanding information that is pertinent for you to know.

Asking these questions will enable you to feel confident and comfortable in hiring your Highland Park real estate agent.