Who Is The Typical California Home Buyer?

The typical California home buyer is at least 48 years old and more than half are married. They are primarily older home buyers due to our economy. Older home buyers generally save a little more money than the average younger home buyer. They also earn about $100K a year and graduated with a college degree.

The age of the buyer continues to rise because of job statuses and our economy.

There are home buyers in the age range of 35-44, but more serious buyers are 48 years old.

The housing bubble imploded during late 2009 and slowly increased in 2012, however, first-time buyers are still recovering and cannot afford to own a home in 2014.

There is a decline in younger home buyers due to financial problems and finding stability in 2014.

The typical California resident earns about $100K a year.

In the Los Angeles Metropolitan Area, the annual household income is about $80K.

The housing affordability increases the chance of younger home buyers to purchase a home, perhaps in the near future when they are earning enough money.

 

There’s a steep decline since 2012. Prices were going up very quickly.

Always Committed,

Connie

(310) 913-1184

Kim and Kanye's Bel Air Home Is On The Market

In recent Hollywood Entertainment news, Kim and Kanye have decided to put their $11 million dollar dream home on the market due to long overdue and tedious renovations. E! Online claims, “The 9,000 square-foot mansion located in Bel-Air includes five bedrooms and seven bathrooms and has been under renovation since the couple purchased it in January 2013. And due to the construction, North West and her parents have been living with Kris Jenner for well over a year.” Most potential buyers will usually not find their “perfect” dream home, but if you can dream it, you can build it… with a little bit of time and effort. First, potential buyers need to think about their renovation timeframe. Will it be manageable and how much labor will be involved? Second, if the timeframe exceeds your desired move in date, will you be able to afford the time spent on finishing your home? Lastly, have you researched potential homes in your neighborhood and understand the history of your home? Just remember, patience is key to successfully finding your dream home. It’s an arduous task to build your dream home, but well worth the time and energy once your project is complete!

Remodeling a home, whether this is something you’ve done for the first or thousands of times before, and with the guidance of experienced professionals can be more challenging than anticipated like in the case of Kim and Kanye. They hired professional to assist them, but even with all that help, things didn’t go according to plan. It’s not about the amount of money being spent because even with all that money, your project can still take forever and become tremendously messy.

 

If they were to ask for my advice, it would be to make sure each decision maker had a clear vision (i.e.  style, amenities, features) of what the home would look like and that each person put it in writing. The next step would be for each to share and then come to an agreement on big things such as style of home all the way down to the smaller things like light fixtures. Everything that is agreed upon should be in a written contract and signed by all parties. Lastly, meet with some professionals, such as, contractors and interior designers to discuss the plans you agreed on and then based on their advice revisit points and revise your plan. This will give you the best chance of staying on track and keeping your relationship together!

If you have any questions or comments about fixer-uppers, remolding or renovations in Bel Air, Beverly Hills, Brentwood or Santa Monica, don’t hesitate to email me: conniedegroot.realtor@gmail.com or call me at (310) 913-1184

Always Committed,

Connie

What Are You Doing on the 4th of JULY?

I will be in the mountains, on a raft, spending time with friends and family and . . .

most likely working on a deal from the middle of a lake just like my friend here!

Funny story, moments later as my friend was reading an important document from her boss on this raft, I decided to start the boat! It took her by surprise and papers started flying everywhere. We eventually fished each sheet out of the water and laid them down by the shore to dry.

I hope I have another memorable weekend like this!

Tell me all your fun stories in the comment box below.

The Importance of Staging Your Home!!

 

Credit HGTV

Staging a home can benefit sellers because agents want to bring potential buyers to a warm and welcoming environment.  Your potential buyers can begin to imagine what their home will look like if he/she purchased your home. Potential buyers will usually want to view a home without any personal pictures or items because they want feel as though the home is their home. In contrast, if your home is completely empty, it can look cold and small spaces may appear smaller. Moreover, empty spaces are often forgotten spaces and when a buyer makes an offer on your property you want them to attach value on EVERY possible space.  There are tricks to making a home show its best without spending a lot of money.  If you’re thinking of selling I’d be happy to go into greater detail and suggest specific things that will help your home stand out and sell well.

 

Happy Fourth of July!

Always Committed,

Connie

Santa Monica Housing Market Is Up 16%

According to LA Business Journal, the housing market increased to 16% in Santa Monica. How did this happen?  Everyone began buying houses all at once and turned the market around.  We can thank the Westside "tech boom" and fresh new rich faces buying a place of their own in the City of Angels.  Santa Monica is one of the most desirable neighborhoods to settle.  You can click the picture above to see how much your neighborhood's median sale price increased to according to The MLS.

If you're looking to sell your home in Santa Monica, Pacific Palisades, Brentwood, Bel Air, or Beverly Hills, please contact me: conniedegroot.realtor@gmail.com

I will find the perfect buyer for you!

Always Committed,

Connie

Crisis in the Middle East affects housing?

Connie was invited back to appear on FOX NEWS yesterday to speak with host Neil Cavuto. They discussed the problems in the Middle East which could escalate and perhaps affect the housing market.

Testimonial from Home Seller Scott Griffin

Homes SOLD in Santa Monica, Beverly Hills, Brentwood in Feb 2012!

Homes SOLD in BEVERLY HILLS 90210 in Feb as of Feb 26

31 Homes NOW PENDING in 90210 as of Feb 26

56 Beverly Park Dr., 260 Days On The Market, SOLD At: $ 21,750,000. Originally Listed At: $25,000,000

1041 Summit Dr., 75 Days On The Market, SOLD At: $ 7,650,000. Originally Listed At: $8,495,000

617 N Alpine Dr., 112 Days On The Market, SOLD At: $ 7,250,000. Originally Listed At: $7,995,000

1235 Tower Rd., 21 Days On The Market, SOLD At: $ 6,750,000. Originally Listed At: $7,295,000

9380 Monte Leon Ln., 116 Days On The Market, SOLD At: $ 2,700,000. Originally Listed At: $3,799,000

2554 Hutton Dr., 61 Days On The Market, SOLD At: $ 2,100,000. Originally Listed At: $2,250,000

10111 Angelo View Dr., 83 Days On The Market, SOLD At: $ 1,850,000. Originally Listed At: $1,999,000

9364 Hazen Dr., 80 Days On The Market, SOLD At: $ 1,810,255. Originally Listed At: $1,950,000

1721 Benedict Cyn Dr., 411 Days On The Market, SOLD At: $ 1,100,000. Originally Listed At: $1,275,000

2341 Coldwater Cyn Dr., 141 Days On The Market, SOLD At: $ 955,000. Originally Listed At: $1,099,000

Homes SOLD in SANTA MONICA in Feb as of Feb 26

11 Homes NOW PENDING in 90402 as of Feb 26

1105 Georgina Ave., 11 Days On The Market, SOLD At: $ 3,105,000. Originally Listed At: $3,250,000

680 San Lorenzo St., 15 Days On The Market, SOLD At: $ 2,997,000. Originally Listed At: $2,795,000

438 Sycamore Rd., 2 Days On The Market, SOLD At: $ 2,000,000. Originally Listed At: $2,625,000

733 20th St., 26 Days On The Market, SOLD At: $ 1,950,000. Originally Listed At: $1,950,000

Homes SOLD in BRENTWOOD in Feb as of Feb 26

22 Homes NOW PENDING as of Feb 26

321 S Bristol Ave., 49 Days On The Market, SOLD At: $ 9,000,000. Originally Listed At: $9,495,000

1030 Gretna Green Wy., 40 Days On The Market, SOLD At: $ 3,230,000. Originally Listed At: $3,145,000

919 S Gretna Green Wy., 69 Days On The Market, SOLD At: $ 3,000,000. Originally Listed At: $3,195,000

2232 Westridge Rd., 100 Days On The Market, SOLD At: $ 2,665,000. Originally Listed At: $2,900,000

312 S. Carmelina Ave., 18 Days On The Market, SOLD At: $ 2,650,000. Originally Listed At: $2,695,000

12608 Promontory Rd., 195 Days On The Market, SOLD At: $ 2,200,000. Originally Listed At: $2,695,000

1200 N Tigertail Rd., 46 Days On The Market, SOLD At: $ 2,175,000. Originally Listed At: $2,299,000

326 N Bonhill Rd., 105 Days On The Market, SOLD At: $ 2,100,000. Originally Listed At: $3,095,000

708 Moreno Ave., 17 Days On The Market, SOLD At: $ 2,050,000. Originally Listed At: $2,095,000

300 N Bundy, 267 Days On The Market, SOLD At: $ 1,345,000. Originally Listed At: $1,475,000

4010 Mandeville Cyn Dr., 201 Days On The Market, SOLD At: $ 1,055,000. Originally Listed At: $1,199,000

12542 The Vista., 157 Days On The Market, SOLD At: $ 990,000. Originally Listed At: $1,100,000

Homes SOLD in CHEVIOT HILLS in Feb as of Feb 26

5 Homes NOW PENDING as of Feb 26

2877 Forrester Dr., 170 Days On The Market, SOLD At: $ 2,000,000. Originally Listed At: $2,695,000

10596 Cushdon Ave., 147 Days On The Market, SOLD At: $ 850,000. Originally Listed At: $949,000