October 2017 Market Snapshot – LA County San Fernando Valley

 

AVERAGE SALES/LIST PRICE | October 2017 | Single/Detached Homes

Average list price compared to average sold price of properties sold each month.

 

PROPERTIES FOR SALE | October 2017 | Single/Detached Homes

Number of properties currently listed for sale by price range.

 

PROPERTIES SOLD (UNITS) | October 2017 | Single/Detached Homes

Number of properties sold each month

 

% OF SALE PRICE TO LIST PRICE | OCTOBER 2017 | SINGLE/DETACHED HOMES

Average sale price of property as percentage of final list price

 

AVERAGE SALES PRICE PER SQFT | OCTOBER 2017 | SINGLE/DETACHED HOMES

Average Sales Price per SqFt for previous two years

 

Contact The Shevins today for a consultation on anything
Calabasas and Hidden Hills real estate.

The Shevin Team – Top Real Estate Professionals in Calabasas

The Shevin Team is featured in Calabasas Style magazine’s November / December 2017 issue. Desginated on the top of the list of the Top Real Estate Professionals in Calabasas.

Marc and Rory Shevin enjoy working with their clients, helping families and individuals find their perfect home. The Shevin Team, with over 50 years of combined real estate experience, bring a wealth of expertise and knowledge to their clients.

Top 10 Team Nationwide
&
Top 1% of Agents Nationwide

for Berkshire Hathaway HomeServices

Contact The Shevins today for a consultation on anything
Calabasas and Hidden Hills real estate.

The Millenial Buyer. What they are looking for and what to expect.

Going after Millennials can be a tricky task for today’s real estate agent. It seems far off in the distant future that Millenials will be powering luxury sales but it may not be as far off as you think and getting the jump early can make the difference. Millennials will be powering home sales for the next few decades. And real estate agents also have a problem; Millennials are far different from Baby Boomers.

This article from Inc. provides a great snapshot of the market in regards to Millennials. Two thirds of Millennials are first time home buyers and, overall, they compose a third of the current real estate market. It is time to search for Millennial clients as most of them will be buying homes within the next three to five years.

When looking for Millennials, real estate agents should keep in mind the profile of the current Millennial buyer.

To begin with, Millennials are looking for new homes which don’t need updating or maintenance. They want a home that already has the modern kitchen and is energy efficient. Using the same information from the Inc. article, one out of every two Millennial buyers is looking for a home like that. It’s among their top priorities so, when you’re working with a Millennial, don’t bother to show them homes needing a little TLC as they will not be interested.

You should also keep in mind that Millennials are not relying on you, the agent, to provide them with a list of homes they might be interested in. Statistically, every Millennial is searching online for their next home. They are going to websites like Realtor.com, Zillow and Trulia. This is why you must be digital savvy. If your firm is still relying on the old methods, such as collating a list of houses for them to view on tour, it’s not going to work and the Millennial buyer might find it a waste of both theirs and your time. They would rather check out homes on their iPhones, take a virtual tour and then tell you which houses they want to tour. It does help make your job a little easier instead of the old hit and miss process of showing homes to clients.

And if you think this also means they don’t need you, you are wrong. Over ninety percent of Millennials still prefer to work with an agent because an agent knows how to buy a home. The Millennials only know which home they want, when it comes to the process, they are not confident about their knowledge of the intricacies of real estate. They still need your guidance throughout the transaction.

But what kind of homes do they want?

Other than being energy efficient and with a modern kitchen, Millennials want homes featuring open spaces. They don’t want a house with a closed off, claustrophobic feeling. Builders are noticing this and building to those specifications so check out the homes being built nearby.

Being children of the Internet, Millennials also want homes with the latest technological upgrades. They want smart homes with smart appliances, uninterrupted Wifi capability and any of the other bells and whistles which come with living in the 21st century.

One thing you might be thinking about Millennials is they want a home in an urban area, but you’d be wrong. The statistics just don’t carry that out. Only a quarter of Millennials live in urban areas. They still prefer to live in suburbs like their parents. The only difference is they want that suburban home close to work (if they don’t already work at home).

A few final pieces of notable information about the Millennial market is, if you provide a great service, they’ll be your client again. Millennials aren’t looking at the next home purchase as the place they’ll spend the rest of their lives. They see it as a stepping stone to a better home. In roughly six years, they’ll be looking to move again. This is four years less than the national average.

Finally, expect more parental involvement. Parents are playing a larger and larger role in helping their children with the home purchase. From the down payments (which is the most difficult aspect of house buying for Millennials) to closing, parents are far more involved in these transactions then they used to be.

With these facts in mind, you have a clear idea of what the Millennial market is and how to work toward helping them find their next home. As mentioned earlier, they are the future of real estate. Work toward helping them and you’ll have a successful business for years to come.

Contact The Shevins today for a consultation on anything
Calabasas and Hidden Hills real estate.

26706 Provence Drive – Calabasas Luxury Home

26706 Provence Drive, Calabasas, CA 91302

6 beds, 4 full baths, 1 half bath, 2 three quarter baths, 6869 sq.ft. Offered at $2,695,000.

Beautiful, guard gated Mont Calabasas stunner! Model sharp from start to finish. Features include a large, center island kitchen with Viking, stainless steel appliances, that opens to the spacious family room with coffered ceiling & fireplace, plus a huge bonus/game room with fireplace & wet bar, a separate gym, and 6 bedrooms, including the luxurious master suite with balcony, private retreat, all stone bath and dual, custom walk-in closets. Amenities include gleaming wood floors, custom window treatments, beadboard ceilings, crown moldings, and two staircases. The immaculate rear grounds include a sparkling pool & spa with waterfall & child fencing, separate play area, covered patio with barbecue center, freestanding, stacked stone fireplace, and lush privacy landscaping highlighted by a variety of mature trees.

Contact The Shevins today for a consultation on anything
Calabasas and Hidden Hills real estate.

Four Technology Tips for Real Estate Professionals

Real estate professionals have a lot of technology at their fingertips. As we head further into the 21st century, agents and brokers have more and more ways to do their job better. Nearly every piece of technology a Realtor® needs can be found on their tablet or smartphone.

Technologies are becoming available that will change the real estate field forever. This includes such things as artificial intelligence and the Internet of Things. But these are large concepts not useful to you as an agent right now. But what is useful? What can make your job easier?

Here are four tips for how to make the best use of technology.

1) Download Everything.

Download every free app you come across geared toward real estate agents. Play around with them. See what they can do for you. There are dozens of apps out there that can make life easier for you. These include everything from 10MinRealty, which helps schedule showings, to OpenHomePro, an CRM app. Several apps have free trials you can check out before purchasing the full version. Try it out. See what these apps can do for you.

2) Dominate Social Media

Social media isn’t going away. Eighty percent of Americans use Facebook. Thirty-two percent use Instagram. One in four use Twitter. That’s a gigantic audience. You need to be visible to them consistently. If you haven’t already, create a Facebook page. Also create a Twitter account and an Instagram account. Each account has its own strengths. Instagram is visual. Twitter is text-based. Facebook is an amalgamation of the two. It’s best to have an account on each site and constantly update them so that people will stay engaged. It may seem a little overwhelming, but there are websites that allow you to post on all three of them at once, such as HootSuite. Check it out and see how it can help your business.

3) Keep Track of Trends

Watch the trends happening in technology so you can be at the forefront of anything new. It’ll pay to be on the ground floor of the next big thing for real estate agents. Not every trend will take off, but many of them will and it will only help your business. There are several websites to watch the trends. Inman is the most well-known one. Another good option is the CBInsights blog. It follows technology startups and categorizes them into the industries they help. It’s a good way to see what’s new and worth your time. To be the tech-savvy agent, you want to be the one who knows everything that’s going on.

4) Don’t Forget About the Client

A great way to differentiate yourself from the competitors is to know all the smart home technology that the buyer will want. Instead of leaving the homeowner to figure out the different types of smart home tech and where to obtain them, you can be their resource. You could provide them with the information they want. There is so much available now and more hitting the market every day so it could be overwhelming to the client. Take that burden away and study the different technologies so you can make recommendations about what would work best for them. Smart technology is available for security, lighting, temperature, safety, appliances, and entertainment. Get studying.

If you follow these tips and continue to keep an open mind, you’ll be the ideal 21st century real estate agent. That’s the way the world is going. You don’t want to be left behind, looking for clients and trying to convince them your old school ways are better. Millennials aren’t looking for old school. They’re looking for more efficient homes and agents. You can be that professional.

Contact The Shevins today for a consultation on anything
Calabasas and Hidden Hills real estate.