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Buyer Agent Services

Buying a property can seem like a daunting task.  We take the stress out of the transaction, streamline the search and negotiate you the best possible price. It’s more than just the search, it’s also about protecting you every step of the way in one of the largest financial decisions of your life.

EDUCATING YOU ON THE PROCESS

We start by educating you on the entire process of buying a property. This starts with recommending you to the best lenders and curating your search for both on and off-market properties. Once we find your home we educate you on the true market value and negotiate you the best possible price/terms. When in escrow we walk you through the contract and minimiize any risks to you. We refer you to the best inspectors and contractors so you can understand the faults of your property as well as costs to fix. We are there every step of the way!

PROPERTY SEARCH

We won't let you buy something we don't truly believe in. We pride myself in knowing all the different neighborhoods of LA. We streamline the process and only send you the best options on and off the market. Start your search HERE.

NEGOTIATING YOUR PURCHASE PRICE

A list price and sale price are two different things. Sometimes houses sell for well above or below the list price. We take the guesswork out of this for you! We provide you with an in-depth analysis of recent sales comparables in the immediate area. This will give you an accurate picture of your property's true market value. From there we can advise you on the best offer price and terms.

CONTRACT NEGOTIATION

In a highly competitive market there are ways to negotiate against multiple offers and beat all-cash offers.  We know all the tricks to beat out multiple offers, get your offer accepted and minimize any risks to you.

INSPECTIONS

We recommend the best inspectors and contractors in town to look at every aspect of the property.  This involves a general inspector, sewer, termite, foundation, chimney and the list goes on! Coming from a legacy of builders in our family, we know good construction and craftsmanship.  We review all inspections and point out any faults and costs associated with fixing up your property. We can then go back to the seller with these issues and re-negotiate the price to get you an even better deal!

ESCROW

The Escrow process can be tricky to navigate and stressful.  We will walk you through the entire process and communicate each and every step.  This involves working within all of your contingency timelines so you’re not in breach of contract. Escrows can run 15 to 30 days and this time goes by fast. We need to fully inspect your home, get bids on any issues that come up, appraise the value, review disclosures and make sure your loan is approved. From inspecting the property to closing the deal we have your back!

HOW WE GET PAID

The sellers pay me, not you. Did you know most sellers will pay me a percentage of the sales price? I typically receive around 2.5% of the sales price. So don’t worry, paying us for our services won’t fall on you!

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LA's Most Expensive and Least Expensive Neighborhoods

Navigating the real estate landscape in Los Angeles can be quite the venture, especially when it comes to finding the most upscale neighborhoods.  A recent study by American Home Field delves into the realm of property prices per square foot, shedding light on the crème de la crème of LA's residential areas.

The illustrious Bel Air, an ultra-exclusive gated community, claims the top spot, boasting an average property cost of $1,318 per square foot.  On the flip side, the South Park neighborhood emerges as the least expensive in Los Angeles, with an average square foot cost of $419. 

Most Expensive LA Neighborhoods (per sq ft)

  1. Bel Air: $1,138

  2. Beverly Crest: $1,310

  3. Venice: $1,213

  4. Hollywood Hills West: $1,209

  5. Cheviot Hills: $1,145

Least Expensive LA Neighborhoods (per sq ft)

  1. South Park: $419

  2. Historic South Central: $425

  3. Central Alameda: $427

  4. Pico-Union: $453

  5. Vermont Knolls: $456

My Top Picks for Appreciation in 2024 for First-Time Home Buyers

  1. East San Fernando Valley 

  2. Northeast LA

  3. The Eastside

  4. Glendale

  5. Altadena

What to look for when finding the next hot neighborhood?

Los Angeles is a sprawling labyrinth of neighborhoods and cities.  I'm commonly asked, "Will the market appreciate in LA this year?" It's akin to asking about the nationwide real estate trends in America. LA mirrors the diversity of the entire country, featuring a broad spectrum of price points, property types, and regions, each experiencing appreciation in distinct ways.

Within every neighborhood, there are standout streets and exclusive pockets that command higher premiums than others. The key is strategic buying, enabling you to ride the wave of appreciation as different neighborhoods transform. 

There's no magic formula to pinpoint the next 'Hot Neighborhood.'  While stats and analytics offer insights, I delve deeper, observing shifts in demographics, the rise of trendy spots, and the surge in houses being flipped. 

LA is a dynamic landscape in constant flux, and my recommendations for the next hot spot evolve over time with the city's transformation.  Remember, LA is still a relatively young city, and I'm thrilled to witness its ongoing metamorphosis.  Invest wisely, and the city rewards you with appreciation like no other in the U.S.!

6 Data-Backed Real Estate Predictions for 2024

2024 brings a mixed bag of real estate predictions, and as a potential homebuyer or seller, it's crucial to stay informed.   Affordability remains the main concern as homebuyers look at ways to keep their mortgage payments down through house hacking and buying fixers.  According to Zillow, here's a concise breakdown of what to expect.
 

1. Inventory Improves in Specific Markets

  • Economists anticipate improvement in inventory, countering past shocks.

  • Life events are a driving force for moves.

  • Expect (slightly) more choices for buyers and increased sales volume.

2. Stabilization of Home Buying Costs

  • Affordability remains a concern, but Zillow predicts home values to hold steady with a minimal national decline.

  • Mortgage rates are expected to remain steady, potentially leading to a leveling off of home buying costs.  The Fed has signaled potential rate cuts later in the year.

  • Wage growth offers a silver lining, reducing the share of income spent on mortgages.

3. Opting Out in Expensive Markets

  • Affordability challenges may lead to delayed home purchases in expensive markets.

  • Single-family home rentals become attractive alternatives, meeting the demand for amenities and privacy.

  • Homeowners may become landlords, increasing the availability of single-family homes for rent.

4. The Rise of "House Hacking"

  • Millennials and Gen Z prioritize the opportunity to generate income from their homes.

  • "House hacking" gains popularity, with a significant percentage of younger buyers viewing rental income as crucial for homeownership dreams.

  • YouTube searches for "house hacking" hit a peak, reflecting the growing interest in this trend.

  • Check out my VIDEO on what "house hacking" is.  Be very aware of local regulations on short and long-term rentals before considering this strategy.  

  • Many cities don't allow ADUs for short-term rentals.

5. Competition for Fixer-Uppers

  • Limited inventory leads to a willingness to overlook flaws in homes.

  • Buyers seek sweat equity, competing with flippers for fixer-uppers.

  • Despite higher costs, the demand for these properties remains strong.

6. Downtown Rental Rebound

  • Suburban rents outpacing urban rents, but a rebound is expected in downtown areas.

  • Proximity to office hubs and post-pandemic amenities drive rental demand in urban markets.

  • A surge in multifamily construction in 2023 provides renters with more options and potential concessions from landlords.

Home Sales Rise at the Fastest Pace in 2 Years

According to Redfin in December, pending home sales surged by a whopping 4%, marking the most significant jump in over two years.   Homebuyers emerged in full force, lured by the largest monthly decline in mortgage rates since 2008. 

Sellers joined the action, though not as aggressively, with new listings rising by 0.1%—reaching the highest level since September 2022.  Prices experienced a remarkable 4% spike, the most significant increase in over a year, as buyers engaged in fierce competition for the still-limited pool of available homes.

I’m seeing increased bidding wars in certain areas as prospective buyers, initially browsing during higher rate periods, are now getting serious about making their move. I recently attended an open house last weekend, and the line out the door brought back memories of the pandemic days with 20 to 30 offers! This is just the beginning of a wave of pent-up buyer demand flooding back into the market.

Ready to make your move in the real estate market? Shoot me an email or text if you're a buyer and want to discuss the first steps.  If you’re a seller, inventory remains low and now is a great time to put a plan in place for the Spring selling season.  

Check out my short 90-second VIDEO reviewing this topic. 

Where Are Interest Rates Heading for 2024? 🏡

Where are interest rates going in 2024?   Rumors are floating that rates should be coming down which could open up doors for a lot of buyers that have been sitting on the sidelines.

Let’s take a look at 2023.  What a wild ride it was.  We started with rates in the low 6’s and ended up hitting 8% this past fall.  We saw a nice tumble of rates leading into the end of the year and currently are sitting just below 7%.

So if you’re a buyer and you’re waiting for rates to come down or house prices to drop, I would re-evaluate your strategy.  Here in Los Angeles, we still have an inventory shortage and I don’t anticipate that changing anytime soon.  Also as rates come down it will only mean a wave of competition and bidding wars.   This will propel home prices up even more.  

I get it house prices are high and interest rates are high.  If you’re a buyer and feel stuck in this situation, please send me a private message so we can explore all of your options and come up with the best strategy for you to buy a home!  

The market is moving at all times.  If you’re a buyer, seller or investor please call me with any questions!  I have my pulse on the market with what’s happening today.  Headlines are yesterday’s news.

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The Mortgage News We’ve All Been Waiting For! 🏡

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Interest Rates Are Finally Coming Down

In October, interest rates peaked around 8%.  As of today the 30 year fixed mortgage is hovering around 6.64%.  According to Business Insider mortgage rates are falling at their fastest pace since 2008.  

As a buyer this is much needed relief as affordability has been strained for some time now.   CNBC reports that the Fed is projected to cut rates 3 more times in 2024.  Inflation has eased and the stock market is roaring to new highs.    

As buyers start to digest this news we should see more and more buyers enter the market.  In 2024, I predict a wave of pent up buyers to re-enter the market.  This will bring back a lot of competition in the market.   I also expect a slight bump in inventory.  There's also a lot of sellers that have been locked into their homes with interest rates in the 2's and 3's.  Sellers will begin to digest that selling in 2024 and picking up a new mortgage in the 5's and 6's is a lot easier to digest.  
 

So What Does This Mean For 2024?
  • More Buyers and more sellers.
  • Buyer demand will outweigh any inventory bump.
  • Buyer demand will be slower in the first half of the year as buyers will remain cautious.  Buyer demand will increase as interest rates go lower.
  • Appreciation in the Los Angeles Market for 2024 as a whole will increase.   Some neighborhoods and price points will decline.  

How to Strategize
  • As a buyer, I don't recommend trying to time the market with interest rates.  Get out there sooner than later as it will be harder and harder to land a home as the year progresses.  Look for homes that are overpriced and sitting on the market with bad photos.  The light cosmetic fixer is where the deals are right now.  Let's hop on a call to discuss best lenders and negotiation tactics!  There are deals out there right now that will appreciate this coming year.
Buyer Services
  • As a seller, inventory is still historically low but it's still a whacky market.  Pricing and the marketing of your home is more important than ever.  I'm seeing great homes sit on the market due to poor pricing strategies, low quality marketing images and no preparation.  Sellers should paint, do minor upgrades and stage their homes.   Check out our concierge services.  We front you money up front to remodel your home, no fees or questions asked.  It's money in your bank to spend as you like!
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Happy Holidays!

Interested in buying or selling now or in the future? Maybe you're just curious about the process?  Let's hop on a CALL when the time is right for you!  I'm a no pressure agent.
 
Jeremiah Vancans
Real Estate Agent
Vancans Group | Compass
jeremiah@vancansgroup.com
vancansgroup.com
310-363-1416
DRE: 01944484
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