In a recent US News and World Report Real Estate article, writer Emily Manthei explains some of the hot Los Angeles housing trends being seen through the warm summer months. One of the trends that has become most prevalent is the desire for luxury turnkey homes. In some markets throughout the United States, people see value in buying a fixer upper property and putting their own stamp on their new home. What real estate agents are seeing in Southern California is buyers bidding much more readily on homes that are fully updated and ready to move in, as opposed to those in need of work.
Turnkey homes translate well to the busy lifestyle of so many people in sunny Southern California. Instead of the hassle of remodeling and living in a construction zone, more buyers are looking to find their ideal house, decorated to their taste and most importantly, move in ready. Finding a turnkey home that suits your individual style can take a bit more searching, but in the long run it saves a considerable amount of time that would have been spent in a remodel.
This means that for those selling their home now is an ideal time to do some updating before putting your house on the market. Simple touches like fresh paint, updating curb appeal and new flooring will stand out to buyers who are looking for a renovated property. Realty experts are seeing an additional trend away from the stark modernism that has been popular over the past few years. Buyers are now looking for homes with more character and charm. With this in mind, buyers should consider paint choices, finishes and other ways to add warmth before selling their home. The bright white walls that pulled in droves of buyers three years ago are now in need of warmer colors and staging that adds charm.
When selling a turnkey property, staging can make or break a possible bid. It is important to choose a staging company that understands what the potential buyer is seeking. Decorating choices are the simplest way to add the character and appeal that buyers are in search of in the current market. Styles that are currently doing well in the turnkey market are modern farmhouse style and Spanish style homes.
By listing your home on the market fully renovated and properly staged, this will often drive up offers and can ultimately end in a bidding war that strongly benefits the seller. Once a buyer finds the home with the character they are in search of, they will become more emotionally invested in the purchase. Turnkey properties are a growing trend throughout Southern California and real estate experts expect that with a strong LA market this trend will remain for some time.
To learn more about Southern California, including real estate opportunities, contact our luxury real estate experts. We specialize in high-end properties in the most exclusive communities in Southern California.
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(all data current as of 5/25/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.