A recent Realtor.com article sheds light on a growing issue in the real estate market: overpricing. As a full-time agent working the Los Angeles market daily, I can confirm this trend is very real—and becoming more common in areas like Lake Balboa, Van Nuys, and across the San Fernando Valley.
Real Clients, Real Lessons—Without the Listing
Over the past several months, I’ve consulted with multiple sellers who wanted to list their homes well above market value. Despite presenting them with up-to-date comps and honest analysis, they opted to move forward with agents who gave them higher price expectations. I didn’t take those listings—intentionally. And what happened? Many sat on the market, had to slash prices, or didn’t sell at all.
Online Estimates Can’t Replace Local Expertise
Sellers rely heavily on Zillow or Redfin's “Zestimates” as their pricing foundation. These tools use generalized data from multiple sources. Still, they can't account for real-life factors like Interior upgrades or needed repairs, Lot usability and natural light, Street noise or neighborhood desirability, and Buyer preferences for layout and flow. Most importantly, they don’t reflect what buyers today are willing to pay, especially with interest rates around 7%.
Buyers Are Focused on Value and Condition
Today's buyers aren't just number crunchers—they're project managers. When they walk through a home, they estimate renovation costs, compare finishes, and weigh the value of move-in-ready vs. fixer-upper. This is why turnkey homes still sell quickly when priced right and why even slightly outdated homes are being overlooked unless priced strategically.
Smart Strategies for 2025 Home Sellers
Here’s how I guide sellers to avoid becoming another “stale listing” statistic: Price it based on current, local comps, not past market highs. Highlight upgrades and address needed improvements up front. Use professional staging and marketing to maximize first impressions. Reassess quickly if activity slows within the first two weeks.
Final Word: Don’t Let Emotion Cost You Money
Selling a home is emotional, especially if you’ve lived there for years. But pricing based on what you “hope to get” rather than what the market supports can leave you with a lower final price—and a longer, more frustrating process. Let’s talk before you list. I’ll help you create a pricing and marketing plan for today’s buyers, this market, and your real goals.
Justin Bonney Lake Balboa & Greater Los Angeles Real Estate
📍 Serving the San Fernando Valley | CalDRE # 01338897
📞 818-697-4884 Number
