Is New Better?
According to the behavior of current Buyers and recent sales in many Los Angeles neighborhoods, the answer is decidedly : YES! Homes that have been totally renovated – and never occupied- are getting a price “bump” of as much as 20% over comparable properties that are reasonably decorated and in good condition.
Magazine cover looks are getting lots of attention and very quick sales. But beware: Remember that new car you bought? As soon as you drive it off the showroom floor, count on a major drop in value.