If there are two words to describe West Hollywood, they would be eclectic and electric. The city stands as one of the most iconic cultural centers in California. Located in Los Angeles County, between Hollywood and Fairfax, West Hollywood, or WeHo, is best known for its nightlife and music scene.
Millions of visitors and tourists visit West Hollywood each year, eager to experience the local art, architecture, design, entertainment, and music destinations such as the Los Angeles County Museum of Art, La Brea Tar Pits and Museum, and Universal Studios Hollywood. The Sunset Strip alone has dozens of unique sights, restaurants, shops, and clubs.
West Hollywood is the perfect place for those looking for a glamorous and thrilling lifestyle surrounded by art, music, and nightlife. Real estate from single-family homes to luxury estates are highly coveted in the area. Some of the biggest names in the art and entertainment industry have called West Hollywood home like Mila Kunis, Kylie Minogue, Johnny Depp, and Katy Perry.
So, if you’re looking to sell your West Hollywood home, you’ll have plenty of takers. Need tips on selling your home faster and more efficiently?. You’ve also come to the right place. We’ll go through helpful tips and expert advice so you can make the most out of your California home.
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WEST HOLLYWOOD REAL ESTATE MARKET: WHAT YOU NEED TO KNOW
The real estate market in WeHo is highly competitive and lucrative for homeowners looking to sell their homes. As of December 2023, the market was balanced, which means that the demand and supply of homes are about the same. Most of the properties for sale in WeHo are apartment complexes, making up approximately 80% of the housing stock, followed by single-family homes (8.8%), small apartment buildings (7.7%), and townhomes (2.3%).
The average value of owner-occupied housing is anywhere from $900,000 to $1.2 million. On average, most homes stay on the market for about 50 days. Many homes were built in the 1940s-1970s and have been renovated with more modern fixtures and amenities, but there are plenty of homes built in the last decade or so. Most residents rent their homes; the average rent is around $2,000.
West Hollywood is one of the best places to live in the Los Angeles area. The neighborhood ranking website Niche.com ranks WeHo as the 2nd Best Suburb for young professionals in California and one of the top suburbs to live in LA. The city has a fast-paced, dense, urban feel. Despite that, the people are warm and friendly. The city is very walkable with dozens of shops, restaurants, cafes, gyms, yoga studios, and parks nearby.
8 TIPS WHEN SELLING YOUR HOME
With a real estate market as competitive as West Hollywood, you need to hone your competitive edge so you can get the best offers from buyers. We’ve listed down our top tips to help you in selling your home in West Hollywood:
- Set a realistic timeline
Part of your planning process should also include setting a realistic timeline. Real estate sales increase and decrease depending on the time of the year. If you’re not in a rush to sell, you can ask your real estate agent for local data on the best months to sell your home. In general, the best months to sell a home are from April to October, or around spring to late summer.
In West Hollywood, the best time to sell property is around December to January according to Homelight.com. However, different neighborhoods may have different data so it’s still best to ask your agent.
If you need to sell your home before a certain date, you will need to coordinate with your agent on how to maximize your time.
- Find out more about the local real estate market
A general understanding of the local real estate market is an advantage. This will give you a better understanding of how similar properties in the area are priced, what the common features and amenities of similar properties are, when the best time to sell your property is, and how to market your property competitively. Learning more about the real estate market can also help you make more informed decisions throughout the entire home-selling process.
- Get all of your documents in order
It pays to be prepared, especially in important transactions such as real estate sales. To speed up the process of selling your home, you’ll need to prepare all the necessary documents, including:
- Mortgage payoff statement
Tells you the exact amount needed to pay off your mortgage loan. Title companies typically ask for this document from your lender before completing the sale - Homeowners insurance
This is a typical requirement for mortgage loans. The coverage will continue until your home closes and the sale is complete. - HOA documents
If you live in a community with a Homeowners Association, you’ll need to gather all documents related to the rules and its financial standing. You can consult your real estate attorney about which files to include. - Property tax records
Prepare all receipts and documents showing which taxes on your home are still outstanding. Remember, the buyer must be able to understand the cost of property taxes on their new home. - State disclosure forms
Some states like California require home sellers to fill out state disclosure forms that contain information about any known problems with the property. - Maintenance and repair records
Gather all documents related to the maintenance and repair of your home. You should be able to provide information about the major repairs done on the property.
- Mortgage payoff statement
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Come up with the right marketing strategy
There are three ways you can sell your home:
- Sell it yourself
- Opt for iBuyers, or entities and companies that purchase properties in cash
- Work with a real estate agent, which is a tried and tested strategy (more on this later)
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Work with an experienced Realtor
Hiring a Realtor or a real estate agent is one of the most crucial steps in selling your home. Dealing with all of the paperwork is daunting, especially for anyone who’s never had sufficient experience in real estate.
A real estate professional is responsible for: handling the paperwork, negotiations, coordination of the sale, and more. They’re your right-hand person and your top advocate throughout the entire home-selling process.
If you’re looking for a real estate agent or Realtor, you’ll need to look for the following qualifications:
- Has in-depth knowledge of the local real estate market
- Has an excellent track record
- Offers solid advice on staging and negotiations
- Helps you understand the entire process
- Advocates for your best interest
- Writes a great listing on the multiple listing service (MLS)
- Excellent at marketing your property
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Price your home competitively using data
Another important tip when selling your home in West Hollywood is to price your property competitively using local real estate data. As the seller, you have to remember to not let your emotions get ahead of you. Some homeowners will want to drive up the price of their homes because of sentimental value. But if the price does not reflect the prices of similar homes in the area, you risk driving away potential buyers and bidders.
The best way to reach a competitive price for your home is to work with your real estate agent. They will have the tools, data, and techniques to help you settle on a good price. If you need to sell your California house faster, you may need to price the property a smidge lower to attract offers. As always, consult your real estate agent.
- Review offers carefully
Once you receive offers from interested buyers, you need to review them carefully. Don’t just accept the highest offer. Evaluate each offer and assess the price, sale terms, potential risks, and buyer contingencies.
Buyer contingencies are conditions that need to be met before the sale can push through. These conditions protect the buyer and allow them to back out of an offer in case the conditions aren’t met. Work with your real estate agent and real estate lawyer so you can better understand these contingencies and assess their impact on the sale of your home.
You may also need to check out a buyer’s pre-approval letter to find out how much they can borrow from their lender, which will potentially affect their ability to actually purchase your home.
You can also ask for a down payment as a way to assess the buyer’s capacity to pay upfront costs, which will include earnest money or a good faith deposit (1%of purchase price), closing costs (2.5% of the amount of the home loan), a year’s worth of homeowners insurance, and at least six months of property taxes to be paid during closing. Down payments range from 6% to 12%.
- Make sure you know about closing costs
Closing costs are typically paid for by both the buyer and seller, but most of these costs are taken from the proceeds of your sale. As the seller, you will pay for the real estate agent commissions for both you and the buyer.
You may also be required to pay for fees and taxes like cover transfer fees and escrow costs. Fortunately, your agent should be able to provide you with an estimate of your net earnings from the sale after all the deductions.
HOW TO PREPARE YOUR HOME FOR SALE
There are a lot of steps and things to consider when you prepare to sell your West Hollywood home. If you’re looking for more tips on selling your home and bringing out its best features, we’ve prepared a few checklists to help you stay more organized:
- Pack up and leave no trace
The first thing you need to do is to pack up and purge. The buyer should be able to see and imagine themselves living in your space, and they might not be able to do that if you still keep your family pictures on the fireplace mantel or on side tables.Here’s a checklist to help you get started with the packing and purging:
- Start a sell-donate-discard pile
Before you start packing, go around the room and collect items you want to sell, donate, or discard. This allows you to get rid of items you don’t need, making moving a lot easier. - Make an inventory of your belongings
Make sure to list down your furniture, personal items, and everything in between. This involves painstaking work, but it will help you keep track of your belongings during and after the move. - Label and number everything
Label and number every side of your moving boxes. Indicate what items are in the box, and which room they should go to. Do the same for larger items like furniture and appliances. - Keep valuables and sentimental items in one place
Pack a box or a suitcase with all of your essentials and sentimental items so you don’t lose them during the move. - Consider hiring movers
If family and friends can’t help you during the move, consider hiring professional movers. They can do the job quickly and you won’t have to stress about the nitty gritty details of the move.
- Start a sell-donate-discard pile
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Clean the house from top to bottom
A clean house suggests that the previous owners took great care of the property. It’s a great way to impress potential buyers and make the house look new. Here’s a checklist of all the places you need to clean thoroughly before staging:
- Closets. Clean the closet floor and shelves. Remove anything that can create a cluttered, messy look.
- Drawers and closets. Empty drawers of old receipts, theater tickets, stray items, and the like. Pack smaller items in appropriately sized boxes. Or add organizers to drawers. Make sure clothing is neatly folded.
- Shelves. Donate books and get rid of unwanted items. Remove personal photos and trinkets. Trim the number of items on your shelves and rearrange the remainder stylishly.
- Kitchen. Wipe and disinfect the countertops. Remove magnets and other items stuck on the refrigerator door. Clean your oven, stove, and refrigerator. Deep-clean your dishwasher and garbage disposal.
- Bathroom. Keep it spotless and leak-free.
- Bedroom, living room, etc. Change curtains, wash blinds and other window treatments. Deep-clean sofas and carpets (hire a professional if you need to). Keep floors gleaming and squeaky clean. Pay special attention to neglected nooks and crannies.
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Work on your the exterior of your home
Curb appeal is said to add from 5% to 11% to a home’s perceived value. Also, first impressions matter. If a buyer isn’t impressed by what they see when they walk up to your house, they will be preconditioned to be as standoffish when they check out what’s inside. So an important tip when selling your home is to make sure your front yard or entrance is clean, tidy, and inviting.
To boost curb appeal:
- Pressure wash your driveway and sidewalk
- Fix uneven paths and make sure they’re safe to walk on
- Pressure wash your exterior sidings
- Mow the lawn, trim bushes and trees, plant flowers here and there
- Paint or replace the main door
- Replace fixtures (knobs, knockets, house numbers, etc.)
- Clean gutters
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Undertake quick repairs
If you don’t have time to renovate your West Hollywood home, quick repairs and upgrades will do.
Here’s how:
- Replace old and loose tiles in the bathroom or kitchen
- Replace loose hinges
- Fix stuck drawers
- Repair leaks
- Clean out carpet stains
- Refresh hardwood floors
- Replace all lightbulbs to make sure they don’t die out during a showing
- Upgrade dated appliances
- Repaint walls
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Stage your home
Online and in real life, staging can make or break the sale of your home. Staging is the process of rearranging your home to allow buyers to see themselves living in it. Thus staging usually emphasizes a neutral palette (white, gray, greige), paring down furniture to make rooms appear larger, and creating a focal point that will immediately draw the buyer’s attention (a fireplace, large picture windows, high ceilings, etc.).
On the day of the open house or during an appointment with a potential buyer, make sure you:
- Spot-check rooms to make sure they’re neat and clean
- Vacuum or sweep
- Wipe down sinks and faucets
- Clean kitchen countertops
- Empty the trash
- Secure your valuables
- Put away pet dishes and clutter
- Sweep the front porch
- Open curtains and shades
- Turn on the lights
- Play soft music
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Hire a professional real estate photographer and/or videographer
Marketing your home doesn’t end at staging. Your home will be listed on the MLS and depending on your property, your agent or Realtor might advise you to print flyers and pamphlets. For all of these requirements, you’ll need professional pictures of your home, so it’s a good idea to consider hiring a real estate photographer.
Real estate photographers work with real estate agents to show your house at its most desirable. They’ll highlight the best features of your home, apply the appropriate lighting (or wait for the right time of day) to capture the mood or enhance an angle. Some real estate photographers also use drones to create a virtual staging of your property.
You can ask your real estate agent for real estate photographer recommendations. It’s good to ask about the photographer’s services, turnaround time, and how they send the finished output. You should also check their service terms and contracts carefully and never settle for verbal agreements. If they provide drone services, it’s also good to ask to see their Remote Pilot Certificate or FAA Airman Certificate and their FAA-registered drone.
SELL YOUR HOME IN WEST HOLLYWOOD WITH CONFIDENCE
Watch Realtor Clinton Wade share 3 things a seller should do before listing their house
Looking for more expert tips on selling your California home? You can navigate the West Hollywood real estate market with confidence by working with me, Clinton Wade, and my exceptional team of real estate experts at CLUTCH/ABODE Real Estate Brokerage. We are a boutique luxury real estate brokerage specializing in West Hollywood and other highly sought-after neighborhoods in the Los Angeles area.
As one of the top luxury real estate brokerages in Los Angeles, we represent a discerning clientele who value the discretion with which we handle their transactions. In addition to ensuring our client’s privacy, we bank on our years of experience, expansive local knowledge, effective marketing strategies, and premium client service to ensure the success of our transactions.
Let’s make your real estate goals a reality. Get in touch with us as CLUTCH/ABODE, INC. by calling 310.403.9497 or by sending us an email. You can also send us a message here.