When a Home is Not a Tear Down
The term “Tear down” is an over-used a real estate concept and has had a degree of unhealthy influence on the market in Los Angeles, especially on the Westside. There is demand for smaller original homes in L.A. but commercialism has many thinking a standard house is now 4,000sf or larger. As a result too many sellers are selling their homes directly to developers, below market value, and too many realtors are advising seller clients not to bother cleaning up their homes or re-painting, etc. before listing the home - because they claim the home is a “tear down” and will be torn down by a developer.
There is a need and demand for smaller and single level homes, but those homes are disappearing. Sellers of smaller simpler homes have an opportunity to tap into that demand, gain more money from the sale of their homes, and maybe even help ease the “housing crisis”.