Changes in the LA Real Estate Market and Chairperson Lee Soo-young's Conditions for Selling Her Mansion

The possibility of Chairperson Lee Soo-young, who is active in the United States real estate market, selling her mansion located in LA and the trends of the local real estate market are drawing attention. According to a video broadcast on TV CHOSUN 210629, it appears that Chairperson Lee is considering selling her house in LA due to reasons such as the burden of maintenance fees.

Chairperson Lee Soo-young considers selling LA house due to high maintenance fee burden

In the video, Chairperson Lee Soo-young mentioned the issue of high maintenance fees as a reason for considering the sale of the LA house she currently resides in or owns. Chairperson Lee stated that she feels the cost burden enough to have requested a 50 dollar discount during the process of the maintenance fee increasing from the previous 2,950 dollar level to 3,000 dollars. In particular, she explained that in the case of another house located in Harvard, the situation is a headache as the maintenance fee has risen from the past 300 dollar level to nearly 450 dollars currently.

Chairperson Lee indicated that she maintains a relationship of trust and communicates with a local named Hank to obtain real estate-related information in the United States. Hank has also advised Chairperson Lee to purchase houses, and Chairperson Lee showed a relationship of sharing local real estate information by mentioning Hank as the only trustworthy American.

House condition check conducted with a local inspector

In the process of considering the sale, a local house inspector accompanied her to precisely check the condition of the house. The inspector appearing in the video checked the need for repairs and compliance with legal regulations. During the inspection process, traces of water leaking on the walls and the need for mold removal were pointed out, and the inspector suggested that it would be better to sell after completing repairs in order to sell the house quickly at a better price.

The 'Home Inspection' process, a characteristic of real estate transactions in the United States, was also confirmed. The inspector explained the system where an expert inspects the condition to check parts that need repair before buying or selling a house. This is a point of differentiation from the real estate transaction method in Korea, showing the systematic procedure in the United States where buyers check a certified inspection report and proceed with the transaction.

Meanwhile, the inspector also mentioned the changed aspects of the local market where many buyers skip home inspections to enter the Escrow process as demand in the recent real estate market has become greater than supply. This was explained as a phenomenon occurring due to the increase in demand in the real estate market.

LA real estate value has risen more than twofold compared to the purchase price

The increase in the value of the house was also confirmed. According to the conversation in the video, the price when Chairperson Lee purchased the real estate was 520,000 dollars. However, reflecting the local market conditions and the trends of the LA real estate market, the currently expected selling price is projected to exceed 1 million dollars. The value has risen nearly twofold compared to the purchase price.