Josh Altman: My Advice for the 2015 Real Estate Market

The 'MDLLA' star shares his wisdom for buyers and sellers.

It's a new year and that means that homeowners might be considering putting their houses on the market—or buying a new place. Million Dollar Listing Los Angeles star Josh Altman has some advice for those hoping to change house in 2015.

First off, he advises that people shouldn't get too attached to a selling number. "It's funny; it's like every memory [a seller] had in that house adds another $20,000 to the price of the house," he said on the Today Show on Wednesday. "So I always tell people you got to step away. It's not your home anymore."

Once a potential buyer is ready to list their home, the key is finding an experienced agent. And to make sure that the price of home is right. "If you're not in a hot market, I suggest pricing a little higher," he said. "Give it room to negotiate."

Josh also shared that it's important to depersonalize the home before buyers step through the door. "It's tough to do that," he said. "Unless you look like Tom Brady and Gisele, take down your photos. Declutter and really make it a blank palate."

It's important to also not look just at the property—but what's available in town. Good school districts are important to research, he says. And for those hoping to make the move to Los Angeles, where Josh works, he says the hot markets are Trousdale, Bird Streets and Bel Air.

As for tricker situations like negotiating mortgage rates, Josh has some sound advice too. He noted that there is currently "confidence is in the market. People are happy and they're buying," he said on CNBC.

Don't have enough for a down payment on a home? Josh says that the rental market is still hot—and worth exploring. "We're seeing the rental market still being pretty strong only because the prices are so high, the median prices," he said. "Everybody's renting; a lot of my big-time clients are all still buying units."

[Source: Today Show, Closing Bell]

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