Even in this changing market, why is it that some homes get multiple offers and others need a price reduction to attract buyers? It’s a question of perceived value. There are certain attributes that drive demand for buyers:
Location: near amenities, private setting, a particular neighborhood with homes of equal or higher value
Architectural Appeal: In LA mid-century is the most popular among buyers today
Layout: Single-level homes appeal to the largest segment, young or old
Extra Rooms: ADU or in-home office space have become increasingly in demand since COVID & add much value
Pool: A private pool now adds much more to value than in past years as it can take 2 years to build a new pool
Upgrades: Kitchen and bathrooms are real drivers, as they are costly and time-consuming for the buyers to do
School District: A highly rated district can be the deciding factor
333 Mesa Lila is an interesting case study. This home did check all the above boxes, but it needed to be reimagined. All the existing furniture was removed and staged for today’s lifestyle. The detached recreation room was recreated to show its full potential. This new look was the tipping point that pushed this home’s selling price to $425,000 over asking.
WOW!!!
