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Real Estate Update for Whittier and La Habra!

by The Domis Team

The first quarter of 2013 is already behind us, and so far we are on track for the best year we have seen in recent memory! While official data for the quarter is still pending, we're going to share a peek at home sale trends in Whittier and La Habra!

For much of the first quarter, limited home inventory and higher prices have been the story. According to Trulia, median home sale prices in Whittier are up by 15.2% compared to last year. The median home sale price through March was $345,000. Currently, the average list price for a Whittier home is $462,686.

We are seeing from market data that distressed property sales in Whittier are continuing to decline, and the days on market are very short. Only 5% of our current market involves distressed home sales. This time last year, distressed sales accounted for 27% of the market. Whittier homes for sale are averaging only 26 days on market.

Home inventory in Whittier, while well below last year's numbers, has improved slightly in recent weeks, rising by 2%.

La Habra median home sale prices are up by 22.1% compared to this time last year. As of March, the median home sale price was $365,000.  The average list price for a La Habra home is currently $410,521.

About 10% of the La Habra real estate market involves distressed home sales. A year ago, distressed sales accounted for 29% of the market. La Habra homes for sale are spending an average of 22 days on market, which is less than half of the market time experienced last year.

The second quarter of 2013 will likely remain a seller's market. However, there are localized pockets of foreclosures that will continue to affect home prices in some neighborhoods. Statistics give you a general guideline, but please remember that home values and market activity will vary by neighborhood and street.

Whenever you are thinking of buying or selling a home, get the local expertise you can trust! Let the Domis Team show you the real estate opportunities available in our markets today! Whether you need information about your current home value, or you just have a few questions, you can always expect the best in courteous, professional service!

The Domis Team
Prudential California Realty
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If you've been thinking of selling your Whittier home, you might be wondering, in today's market, if it would be possible to sell the home yourself. After all, home buyer demand is up, mortgage interest rates are low, and sellers are in the driver's seat. What would you have to lose?

Potentially, thousands of dollars and a lot of time! While you may be able to sell your own home with the help of an attorney, homes listed "For Sale By Owner" do not have the advantages of brokered listings in the California real estate market. Here are a few reasons why!

1. Trust and accountability. Real estate professionals adhere to a code of ethics and a uniform standard of practices. Home buyers know they can turn to us for help with their home search and real estate questions. This provides a level of confidence they cannot receive by working directly with a FSBO seller.

2. The Multiple Listing Service. (MLS.) This database is available to home buyers worldwide through multiple websites. Homes listed in the MLS receive exposure unmatched by any FSBO network.

3. Transparency. Homes on the MLS have tracking for days spent on market and price reductions. Statistics such as list price to final sales price are also measured. There is a wealth of market information available to buyers and sellers alike.

4. Comparative market analysis and price guidance. Automated valuations that are available online are a starting point, but they do not consider home condition, amenities, and other localized factors that can affect home value. Your best chance of getting top dollar for your home, in the shortest amount of time, is by working with a real estate professional.

5. Qualified home buyers. We assist home buyers with referrals to mortgage professionals, home inspectors, contractors, and just about any resource they may need. We work with buyers to help them find the best homes in their price range. In short - we provide them with information, education and service. More than one-third of home buyers are first-time buyers!

To sum it up, there are many services we provide to home sellers as real estate professionals, far beyond coordinating appointments and performing marketing. Yet we do not get paid a dime unless your home sells. Naturally, we want to help you succeed! We also want to make sure buyers and sellers are given terrific service, because we want you to refer your friends and family to us! 

Ready to sell your home? Please contact us for your complimentary sales consultation! We will show you what your home is worth on the market today, and provide a net sheet to estimate your proceeds at closing. Find out what the Domis Team can do for you!

The Domis Team
Prudential California Realty
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Make Your Best Offer First When Buying a Whittier Home!

by The Domis Team

Whittier home buyers face tough competition in the market. Cash buyers can be hard to compete with when it comes to making a successful offer. Home buyers with deeper pockets can also outbid first-time buyers who are limited by their mortgage amount.

As home inventory remains lean and California home prices keep climbing, you will need a good strategy in order to successfully buy a Whittier home!

Fortunately, it's fairly simple: make your best offer first.

In a market as competitive as ours, you may get only one chance to get your offer in front of a home seller, because multiple offers are becoming the norm. Sometimes you get a chance at a second round of negotiation, but sometimes you don't. This is why some aggressive, and financially empowered home buyers offer more than the asking price right off the bat - it puts their offer at the top of the heap.

Of course, this isn't realistic for everyone, and we are not suggesting that you overpay. But you should obtain the latest sales data from us for the areas you are interested in, so you can see what the market is doing and plan your offer accordingly. You should also:

1. Have copies of your mortgage approval letter from your lender, ready to submit with your offer.

2. Keep your contingencies to a practical minimum.

3. Make your offer clear, simple, compelling, and easy to say "yes" to.

Naturally, market conditions vary from one area to another, so there may be instances where your strategy should be adjusted. There are also times when you may need to add certain contingencies to protect yourself. But in a seller's market, you need to make your offer as attractive and hassle-free as possible while staying within your own limits. 

Above all, work with real estate professionals who can guide you through the home buying process and help you write a successful offer!

Need help with home buying? Turn to the Domis Team for expert, professional assistance for Los Angeles and Orange County real estate! Let us be your guide to the newest home listings and the latest market activity. Contact us today - we will be glad to help you!

The Domis Team
Prudential California Realty
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Whittier Real Estate Market Steams Ahead

by The Domis Team

Whittier home buyers remain under pressure from rising home prices and diminishing inventory. The story is much the same throughout California, as the improved economy has unleashed pent-up demand with nowhere to go. Here is a quick look at our local market conditions!

If you are a Whittier homeowner, this is all good news. Median home prices in the first quarter of 2013 are 15.1% higher than they were a year ago. The median home price in Whittier was $344,586 during the first quarter. "Median" means that half of the homes sold for more, and half of them sold for less.

Home prices haven't stopped there; the average listing price for a Whittier home climbed over $430,000 last week. Meanwhile, the scant supply of homes for sale has led to fewer transactions; sales volumes are down by about 30% compared to last year.

La Habra is echoing this trend. Median home prices in La Habra hit $370,000 during the first quarter of 2013, an increase of 23.7% from a year ago. Tight inventory has led to fewer sales transactions, which are down by about 34% from a year ago.

Similar stories are unfolding around California, where the intensity of buyer competition is leading to multiple offers, sale prices above list price, and time on market counted in hours rather than days. Can it last?

Home prices, while rising, are still a good distance from the peaks of the housing boom. But once home prices rise to a degree where the economics become too difficult for buyers, demand could ebb. If home inventory expands due to new construction, or some other influx of homes for sale, it will affect home prices.

Please remember that all real estate is local, and what is happening on the average may not be the same as what's going on in your neighborhood. For this reason, you should always work with experienced real estate professionals who know the local markets in Whittier and La Habra - like us!

Whenever you are thinking of buying or selling a home, get the local expertise you can trust! Let the Domis Team show you the opportunities in our markets today! Whether you need information about your current home value, or you just have a few questions, you can always expect the best in courteous, professional service!

The Domis Team
Prudential California Realty
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Planning a Successful Remodeling Project for Your Whittier Home!

by The Domis Team

If you are planning on remodeling your Whittier home, you’re in good company! According to a homeowner survey by remodeling website Houzz, 53% of homeowners believe that now is a good time to remodel. Motivations for remodeling include improving living conditions for personal enjoyment as well as improving home value and marketability.

The most popular renovation projects involve bathrooms and kitchens. 28% said they were planning a bathroom remodel or addition, while 23% of those surveyed said they were planning a kitchen remodel. On average, homeowners have spent about $28,000 to remodel a kitchen.

With this kind of price tag in mind, remodeling projects are not something to be taken lightly! Here are a few tips to help you get the most out of your remodeling project, without breaking the bank:

Decide the essentials first. Are new kitchen cabinets a must? Ok, but what about the floor? Your wish list might turn out to be bigger than your budget, so start by deciding the absolute areas that your remodeling project must address. List everything else to the side.

Decide how soon you need to finish this project. Are you putting your home on the market in a couple months? Are you expecting to host visiting relatives? Have a realistic timeline for completion.

Determine your budget. Do you have the financing available or funds set aside to comfortably tackle your project? What’s the “wiggle room” in your budget?

Interview contractors and obtain several estimates. Beware of bids that are too cheap compared to the running norms. The contractor may be cutting some serious corners to make that bid possible, or he may plan to “surprise” you with extra charges along the way.

Compare the estimates to your budget. Are you still in business? Can you afford the little extras? Do you need to finance more of the project than expected?

Revisit your list of contractors and make an informed choice. Ask for referrals, and check them out against the Better Business Bureau. Also, personality counts! Don’t hire someone that rubs you the wrong way, no matter how good their prices are. It will only add stress to your experience.

If you are a Whittier homeowner who is thinking of selling, you should obtain a comparative market analysis before you begin your remodeling project. Your home might do just fine on the market as-is! We will be happy to show you how your home fits in the market today, and what sort of value potential your upgrades may provide.

When you are selling a home, get the local expertise you can trust.  Let the Domis Team show you how we obtain top dollar for your home! Whether you need information about your current home value, or you just have a few questions, we’ll be here to help you! Contact us today!

The Domis Team
Prudential California Realty
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Photo of Linda & Ryan Domis - The Domis Team Real Estate
Linda & Ryan Domis - The Domis Team
Keller Williams Realty
16310 E. Whittier Blvd. Suite F
Whittier CA 90603
Cell: 562-884-5373
Cell:562-458-6947
Fax: 562.902.5158
The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale

Contact the Domis Team

Linda Domis - DRE #00571375 | Ryan Domis - DRE #01969771
Whittier Homes for Sale | La Habra Homes for Sale
Lake Park Brea Senior Community | Lake Park La Habra Senior Community

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