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Attract Serious Buyers, Discourage Lookie-Loos

Serious buyers of Palos Verdes properties want to find a home. They’ve been pre-qualified by a lender, chosen a real estate agent, and are ready to make an offer on the right home. Nearly every one of them did NOT enter the market just yesterday; they’ve been shopping for a while. They’ve seen homes get listed, go into escrow and close. They’ve seen others sit and perhaps go through a series of price reductions. They KNOW what new listings of Palos Verdes homes have value and which don’t.

A Lookie-Loo is a person who is not seriously in the market to buy a home. “Loo” could be a nosy neighbor, an open house junkie, or worst of all – someone who thinks they’re serious, but are incapable of making a realistic offer. lookie-loos

In determining your marketing strategy, your real estate professional knows what will work to get serious buyers coming to see your home, and what will discourage people who will waste your time. And as painful as it is often, almost always in fact, ESPECIALLY in higher priced areas such as in Palos Verdes or Manhattan Beach, Redondo Beach or Hermosa Beach, hearing the truth from an agent about what buyers might pay for your home given when your friends or weak agents tell you a higher number, is a truth you really need to listen to.

Attract Serious Buyers for your Palos Verdes home – No Lookie-Loos

In any market, your home may compete with new construction that offers never-lived-in appeal – pristine appointments, hardwood floors, granite countertops, stainless steel appliances, and more. In a slow market, builders or super motivated sellers offer landscaping discounts, points on mortgage loans, and decorating allowances as incentives.

Your home is also competing with your neighbors’ homes for sale, which may be in better condition or more updated than yours. For Palos Verdes homes, it’s often not just about equivalent square footage. It could be about lot utility or whether your view is out the front or out the back (do you know what is more preferred?) You may also be in a market that still has a large number of foreclosures that are pulling home prices down.

The point is that buyers want the most value, no matter what the market is doing. Don’t assume that because home prices are up and sales are picking up that buyers will negotiate any less. Verify market prices with your agent. Price your home for today’s market reality.

Your job is to prepare your home to attract serious buyers. Move-in ready condition is what most buyers want, and you have to provide it. Your agent’s job is network, advertise, and market to make buyers aware of your home and interested in buying it. If the marketing pictures show a problem, you’re not going to attract serious buyers.

Stage your home to best advantage – declutter, depersonalize (but don’t sterilize – remember, it’s a home and we’re selling the emotion of a home), clean thoroughly, enhance curb appeal, fresh paint, fresh landscaping. Fix every little thing that’s broken or not working smoothly – no sticking drawers, no wobbly doorknobs. Don’t give buyers room to make unrealistic offers.

Do something extra for your home – some remodeling, new appliances, new countertops can work wonders for buyers. Do something extra for the buyer, like provide a history of the home.

Discourage Lookie-Loos

The only thing your agent can do to discourage Lookie-Loos is to encourage serious buyers to consider your home. Your agent can network with other agents and tell them all the things you’ve done to attract a serious, realistic offer. They will bring qualified, interested buyers to view your home.

Make sure your agent creates a really good online presentation of your home with lots of pictures, a virtual tour, local amenities, school data, and more. The idea is to give buyers enough information to put your home on their short list.

Your agent can also employ niche marketing and out of box marketing ideas. If your home is near a college, for example, she can advertise in college papers, alumni magazines, billboards or student housing websites.

The more questions you can answer about your home and neighborhood online, the less interested Lookie-Loos will be in traipsing through your home, either at an open house or with their agents.

If you do have an open house, don’t make it easy for people to have the run of your home. Have your agent register visitors and view their identification. Serious buyers won’t be offended but non-serious buyers will be very reluctant to provide personal information. Those are the people you don’t need.

Despite your precautions, some Lookie-Loos will slip through, making appointments that waste your agent’s time and yours, but look at it this way – if your home is ready for market and priced to sell, it’s a good deal for any buyer, even a Lookie-Loo.

And most importantly, of PRIME DIRECTIVE importance – PRICE YOUR HOME RIGHT. That tool alone will trump the lookie loos as SERIOUS buyers will recognize that you’ve priced your home to create value in their minds (and I’m not talking about a “give it away” price, I’m talking about a fair attractive price) so that they buy your home instead of your competition.

How to price your home right within the price range?

Look, no agent can peg to the penny, let alone to even 10 or 20 thousand dollars what your home will sell for. Every home, every seller, every buyer, every transaction is different. The same exact home can sell for a wide range of price points if it were sold many times within a 3 month period given different motivations of sellers and buyers. But as professional brokers, we’re supposed to have the tools to help you make that choice whether to price your home in the lower part, the middle part or the upper part of a price range.

One of the tools I have access to which costs me a lot of money each year, is a proprietary market index call the “Market Action Index“. Here’s the MAI for Palos Verdes Estates. What’s this telling you about pricing Palos Verdes homes?  Another is the “Unsold Inventory Index” expressed as the number of months of unsold inventory.  Meaning this, at the rate at which properties have been recently selling, how long would it take to sell the existing level of active listings without any new listings coming on the market?  Does it make sense how these two indexes can help you as a seller better price your home within a range so as to avoid a bunch of lookie-loos and as a buyer, does it make sense how understanding the trends here can help you not overpay for a home?  Before you choose a real estate broker to advocate for you, ask them, “What’s the unsold inventory index and market action index for the area i’m looking in?”  If you get that glazed “duh” look; find another Realtor.  By the way, both of these charts are interactive; bookmark this page, check back in over time and see how they trend.

Market Action Index for Palos Verdes Estates

Real Estate Market Chart by Altos Research www.altosresearch.com

Unsold Inventory Index for Palos Verdes Estates

Palos Verdes Estates, Peninsula and Beach Cities Homes For Sale (Newest Listings First)

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4892 Elkridge Drive Rancho Palos Verdes, CA 90275

$1,549,000 - 5Br/3Ba -  for Sale in Rancho Palos Verdes
New
$1,549,000
5 Beds
3 Baths
2,594 SqFt
Status Active
MLS # PV17119182
Property Type Single Family Residence
Must see this beautiful house with a park like backyard with large pool. House offers 5 bedrooms 3.5 bath, 2 bedrooms in the lower level with one full bath and 3 bedrooms in the main level with 2.5 bath. Master suite with walking closet and Jacuzzi tub and shower. Formal living room with fireplace and dining area. Large family room with breakfast area opens into a large inviting back yard. All smooth ceilings with recessed lighting and upgraded windows.

5677 Mistridge Drive Rancho Palos Verdes, CA 90275

$1,450,000 - 4Br/3Ba -  for Sale in Rancho Palos Verdes
New
$1,450,000
4 Beds
3 Baths
2,661 SqFt
Status Active
MLS # SB17118731
Property Type Single Family Residence
This 2,661 square foot house sits on a 9,650 square foot lot and features 4 bedrooms and 3 bathrooms. Enjoy a 180 degree city view both day and night from major rooms and patio. Kitchen has been updated with a six burner gas cooktop and granite counter tops. Conveniently located at the top of the hill just a short drive to shopping.

1312 Via Zumaya Palos Verdes Estates, CA 90274

$3,090,000 - 5Br/3Ba -  for Sale in Palos Verdes Estates
New
$3,090,000
5 Beds
3 Baths
4,151 SqFt
Status Active
MLS # PV17118847
Property Type Single Family Residence
Gorgeous Upper Lunada Bay home w/ PANORAMIC OCEAN, CATALINA, SANTA MONICA MOUNTAINS & SUNSET VIEWS! This beautiful house was completely renovated and expanded in 2010 & 2011. Magnificent high-ceiling entry with beautiful wrought-iron glass door, crystal chandelier & White Carrera marble floor. Open floor plan with lots of light and good feng shui layout; ocean view in the front and hill in the back. French doors & balconies across the entire front of the house for ultimate enjoyment of the ocean views! Living room & formal dining room with French doors opening to a front view patio. Extensive use of marbles & hardwood floors. Beautiful kitchen that opens to a spacious family room w/ a large center island, antique-white finished cabinetry, expensive granite counter tops. Top-of-the-line appliances & plumbing fixtures. Master bedroom w/ sitting area, walk-in closet & French doors that open to the front and back balconies to enhance both sides of the views. Built-in speakers on main level and in master bedroom upstairs. Very private backyard with a huge cemented patio & 2 view decks on the hillside. Close to distinguished Lunada Bay Elementary, PV Intermediate & PV High Schools.

3609 Maple Avenue Manhattan Beach, CA 90266

$3,089,000 - 5Br/6Ba -  for Sale in Manhattan Beach
New
$3,089,000
5 Beds
5.5 Baths
3,251 SqFt
Status Active
MLS # SB17116616
Property Type Single Family Residence
This new custom built modern farmhouse is located in the desirable Manhattan Beach Tree Section. From the moment you walk onto the room sized front porch, featuring a gas lit lantern as well as a built in swing, you will realize this property is like no other. The back yard offers incredible privacy as well as a spacious outdoor entertaining area. The completely fenced in back yard comes equipped with an eating area capable of seating 10, covered by a custom pergola. In addition, there is an outdoor covered living area with a fireplace and room for a plasma television for outdoor entertaining needs. This space is joined as one with the family room and kitchen via a bi-fold custom door, dutch-door kitchen door, and a full wall of windows. The outdoor space also has additional hardscape for seating with a great grassed area for everyday enjoyment. The custom kitchen features a hand painted tile marble backsplash, a Bertazzoni Italian stove, Sub Zero refrigerator, walk in pantry, and more. The living room opens up to a two story ceiling and showcases a two-sided fireplace. There are 9 skylights throughout, which flood the entire home with natural light. The bedrooms all have their own bathrooms with custom features down to the last detail. If you desire custom features and are looking for something special, you must see this home.

952 Via Del Monte Palos Verdes Estates, CA 90274

$2,950,000 - 4Br/3Ba -  for Sale in Palos Verdes Estates
New
$2,950,000
4 Beds
3 Baths
2,914 SqFt
Status Active
MLS # SB17117944
Property Type Single Family Residence
ABSOLUTELY EXQUISITE HOME WITH MAJESTIC QUEENS NECLACE OCEAN VIEW plus view of Malibu, Downtown and City lights. It is beautiful! Bright and open floor plan. Incredible Back yard. 4 Bedroom 3 bath plus bonus room. Lots of storage. Three car garage. Hurry, it won't last. Property this elegant very rarely comes to market.

28731 King Arthur Court Rancho Palos Verdes, CA 90275

$1,488,888 - 4Br/4Ba -  for Sale in Rancho Palos Verdes
New
$1,488,888
4 Beds
3.5 Baths
3,119 SqFt
Status Active
MLS # SB17116041
Property Type Single Family Residence
Located on a short cul-de-sac street, this large lot is landscaped and designed beautifully around this very large family home. This 4 bedroom, 4 bath home has 2 master bedrooms, one upstairs and one downstairs with french doors leading out to it's own patio. The formal living room boasts of high vaulted wood beamed ceilings with a wood burning fireplace. Wait till you see the formal dinning room addition which also boasts of high vaulted beamed ceilings and windows galore to view the wonderful gardens as well as french doors leading to another private patio. The perfect flow extends to the huge open concept family room and kitchen addition to this home with stainless appliances, granite counter tops and large center island. Don't miss the walk in pantry! Upstairs are 3 large bedroom and 2 baths.

26 Rollingwood Drive Rolling Hills Estates, CA 90274

$1,098,000 - 4Br/2Ba -  for Sale in Rolling Hills Estates
New
$1,098,000
4 Beds
2 Baths
1,596 SqFt
Status Active
MLS # PV17118196
Property Type Single Family Residence
Be Prepared to be Amazed with this Sensational Single-level remodeled home in the Family Friendly Silver Spur neighborhood in Rolling Hills Estates. Convenient walking distance to Award winning Palos Verdes Schools and Peninsula Center, the heart of Palos Verdes. Featuring a new 2017 Modern and Open Floor Plan with 1,596 SF with a Spacious Great Room, Custom Kitchen with a large Breakfast Island, Stainless Steel Appliances and Granite Countertops, 4 Bedrooms, 2 remodeled Full Baths, new dual pane windows and doors, furnace and air conditioning, refinished hardwood flooring, recessed lighting and electrical panel. Ideally situated on a quiet street with a 7,767 SF Lot with a sparkling City Light and Harbor View. This home has a very convenient location on the Palos Verdes Peninsula and is close to Restaurants and Shopping with easy access off, on and around the Peninsula. This immaculate and well maintained remodeled home is a rare opportunity for affordable family home ownership on the Palos Verdes Peninsula. This is a wonderful opportunity for your family's new Rolling Hills Estates home.

28405 Trailriders Drive Rancho Palos Verdes, CA 90275

$1,338,000
5 Beds
3 Baths
2,271 SqFt
Status Active
MLS # PV17117007
Property Type Single Family Residence
Entering an iron gate entrance you will find through double doors an Original single story with a longer foyer to open living space. Living room has vaulted ceilings, marbled fireplace and via floor-to-ceiling glass windows of views of tree and the ocean. One will find an open kitchen with family room or can be used for casual dining. A very well kept 5 bedroom 3 bath home that has a tremendous amount of potential. One can use their imagination to create a beautiful home for elegant living. It is a 5 bedroom, presently used as a 4 bedroom which can easily be put back, and 3 bathrooms. One steps out to its own oasis of very private grounds with grass and beautiful greenery. A charming backyard surrounded by trees and views of San Nicholas. There were 30,000 dollars of improvements that have been done such as a new clean out to the main line, new heater, spa room, marbled fireplace and driveway with beautifully done pavers. Immaculate large garage with direct access to the home. This home is located in the well sought out area of Los Verdes community close to schools, shops and parks.

420 Camino Real Redondo Beach, CA 90277

$1,475,000
4 Beds
2 Baths
1,601 SqFt
Status Active
MLS # SB17116868
Property Type Single Family Residence
Just 4 blocks from the beach you can be in this 4 bedroom 2 bathroom home. Ocean and city views. Peek-a-boo ocean views from master bedroom. Walk-in closet

4 Palomino Lane Rolling Hills Estates, CA 90274

$2,195,000
5 Beds
4 Baths
3,459 SqFt
Status Active
MLS # PV17115288
Property Type Single Family Residence
This gorgeous home is in one of Rolling Hills Estates finest neighborhoods located in the heart of the city off Rolling Hills Road. This neighborhood is surrounded by trails and has easy access to and from the hill. This is one of the brightest, happiest, one story rambling ranch homes we've seen! The home features: vaulted ceilings through the living spaces, sparkling hardwood floors, loads of skylights, huge walls of windows and many doors leading you to the backyard! This home is an entertainer's delight as it completely lives to the enormous backyard(with direct trail access), with a gorgeous pool, spa, and built in BBQ. Other features of the home include:gourmet kitchen with beautiful white cabinets accented with pretty granite counter tops, stainless steel appliances, double ovens, and breakfast area. Huge great room with fireplace, large dining area and living room with fireplace give you loads of space to relax or entertain! The large master bedroom has a fabulous remodeled bathroom, his and her walk-in closets, and opens to a private side yard. There is an office, 4 additional bedrooms, 2 other completely remodeled bathrooms and a remodeled guest bath. The home was recently painted throughout as well. NOW THE GUEST QUARTERS... The wonderful, private living quarters has 1bd/1bath/Living room/kitchenette/private entrance in approx 450 sf above the 3 car garage.(there is a motorized chair if needed for easy access to the unit)

26627 Hawkhurst Rancho Palos Verdes, CA 90275

$1,298,000 - 4Br/3Ba -  for Sale in Rancho Palos Verdes
New
$1,298,000
4 Beds
3 Baths
2,237 SqFt
Status Active
MLS # PV17115327
Property Type Single Family Residence
Welcome to this wonderful family 4 bedroom, 2.5 bathroom home. Vaulted ceilings greet you in the spacious living room that opens to backyard. The second living space is right off the beautiful updated kitchen with breakfast area, inside laundry. Freshly painted throughout the inside and outside. This is a fabulous neighborhood with wonderful warm weather and loads of sunshine!

415 24th Place Hermosa Beach, CA 90254

$2,399,000
4 Beds
2.5 Baths
2,850 SqFt
Status Active
MLS # SB17116021
Property Type Single Family Residence
Perfectly situated on one of the most coveted blocks in the North Hermosa Beach sand section! Coastal Chic 4 Bedroom, 2.5 Bath 2,850 s/f residence plus a separate 2 bedroom, 1 bath 700 s/f guest/rental unit. The main house offers an open concept floor plan on the entry level with soaring ceilings, spacious living, family and dining areas, two fireplaces, remodeled half bath, hardwood flooring and recessed lighting. The beautifully remodeled kitchen features quartz counter tops, subway tile backsplash, a warming drawer, miele oven and a convenient breakfast bar. French doors open to separate rear patio areas for quiet evenings or afternoon entertaining and the private terraced rear yard is surrounded by mature lush greenery. Situated on the second floor, the huge master bedroom is your own private retreat with a sitting area, office/studio (4th bedroom) a large private balcony, and remodeled ensuite bath. Also on this level are two additional bedrooms and a completely remodeled full bath. Room to park six vehicles with a 3 car garage and a large drive way for additional off street parking. Walking distance to the beach, close to area schools, parks, restaurants, shopping, hiking trail, and everything that comes with the coveted Hermosa Beach lifestyle!

 

 

 


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