We are heading towards a Shakespearean tragedy here, extreme shortage of inventory.
The Los Angeles housing market is not going to recover if there is nothing for buyers to purchase. Getting a loan is not a slam dunk, but mortgage rates are at an all time low and more than half of California home buyers can afford the median price in the state.
So what is causing the anemic inventory?
The expected shadow inventory of homes hasn’t happened. Less people are willing to short sell their homes. Even thought they may still be upside down on their mortgages, they see hope in the rising prices and, if they can still afford to make payments, they are waiting for further price increases. Banks are also willing to wait out the market until their inventory increases in price.
And the government is helping fuel this optimism by keeping mortgage rates low and providing assistance with the Housing Affordability Refinance Program (HARP), Home Affordable Modification Program (HAMP) and the like.
The Fiserv Case-Shiller index predicts that home prices will rise at a steady rate of 3.3% over the next four years. But nothing is going to rise if there is nothing selling.
It is extremely frustrating out their for Los Angeles home buyers. If you are ready to sell your Los Angeles home now is a great time. Priced right your home will probably receive multiple offers and sell quickly. Please help. Your contributions will be greatly appreciated.
New homes on the market this week in Los Angeles
- MLS® #: 23-331473
- 10644 Bellagio Rd
- Los Angeles CA
- $195,000,000
- 7 Bed | 20 Bath | 0 SqFt
- 8.4 Acres
- MLS® #: 23-231909
- 594 S Mapleton Dr
- Los Angeles CA
- $137,500,000
- 14 Bed | 27 Bath | 56,500 SqFt
- 4.6 Acres
- MLS® #: 23-321859
- 9505 Gloaming
- Beverly Hills CA
- $126,000,000
- 8 Bed | 20 Bath | 30,610 SqFt
- 2.19 Acres
- MLS® #: 23-282597
- 24168 Case Ct
- Malibu CA
- $95,000,000
- 7 Bed | 8 Bath | 10,272 SqFt
- 3.35 Acres
- MLS® #: 23-263715
- 9904 Kip Dr
- Beverly Hills CA
- $88,000,000
- 10 Bed | 22 Bath | 24,757 SqFt
- 19.82 Acres
- MLS® #: 23-239903
- 107 Delfern Dr
- Los Angeles CA
- $85,000,000
- 10 Bed | 19 Bath | 21,000 SqFt
- 1.88 Acres
- MLS® #: 23-313098
- 1028 Ridgedale Dr
- Beverly Hills CA
- $85,000,000
- 12 Bed | 18 Bath | 24,325 SqFt
- 0.95 Acres
- MLS® #: 24-369077
- 1499 Blueridge Dr
- Beverly Hills CA
- $85,000,000
- 13 Bed | 16 Bath | 28,000 SqFt
- 2.2 Acres
- MLS® #: 23-262479
- 27930 Pacific Coast Hwy
- Malibu CA
- $75,000,000
- 12 Bed | 14 Bath | 12,610 SqFt
- 2.57 Acres
- MLS® #: 23-245068
- 25142 Pacific Coast Hwy
- Malibu CA
- $75,000,000
- 7 Bed | 9 Bath | 13,126 SqFt
- 1.73 Acres
- MLS® #: 23-338275
- 23 Beverly Park Ter
- Beverly Hills CA
- $74,000,000
- 9 Bed | 12 Bath | 28,000 SqFt
- 3.26 Acres
- MLS® #: 24-376821
- 9330 Flicker Way
- Los Angeles CA
- $72,500,000
- 9 Bed | 14 Bath | 24,000 SqFt
- 0.91 Acres
- MLS® #: 23-278179
- 24185 Case Ct
- Malibu CA
- $69,500,000
- 5 Bed | 7 Bath | 11,097 SqFt
- 3.88 Acres
- MLS® #: 24-350817
- 11740 Crescenda St
- Los Angeles CA
- $69,500,000
- 8 Bed | 13 Bath | 20,000 SqFt
- 3.54 Acres
- MLS® #: 23-310237
- 9650 Cedarbrook Dr
- Beverly Hills CA
- $68,000,000
- 19 Bed | 33 Bath | 78,000 SqFt
- 27.59 Acres
- MLS® #: 24-370907
- 942 N Alpine Dr
- Beverly Hills CA
- $68,000,000
- 5 Bed | 7 Bath | 12,294 SqFt
- 0.85 Acres
- MLS® #: 24-357985
- 684 Firth Ave
- Los Angeles CA
- $68,000,000
- 6 Bed | 10 Bath | 14,779 SqFt
- 1.93 Acres
- MLS® #: 24-343930
- 28026 Sea Lane Dr
- Malibu CA
- $67,500,000
- 4 Bed | 5 Bath | 3,795 SqFt
- 0.43 Acres
- MLS® #: 22-167741
- 1005 N Alpine DR
- BEVERLY HILLS CA
- $65,000,000
- 4 Bed | 6 Bath | 4,351 SqFt
- 2.66 Acres
- MLS® #: 23-260091
- 9609 Oak Pass Rd
- Beverly Hills CA
- $65,000,000
- 17 Bed | 19 Bath | 0 SqFt
- 3 Acres
- MLS® #: 24-348129
- 1210 Benedict Canyon Dr
- Beverly Hills CA
- $65,000,000
- 11 Bed | 16 Bath | 27,150 SqFt
- 2.69 Acres
- MLS® #: 21-705644
- 133 S Mapleton DR
- LOS ANGELES CA
- $65,000,000
- 9 Bed | 14 Bath | 30,000 SqFt
- 1.1 Acres
- MLS® #: 23-306545
- 912 Benedict Canyon Dr
- Beverly Hills CA
- $64,000,000
- 7 Bed | 15 Bath | 17,005 SqFt
- 1.15 Acres
- MLS® #: 24-375075
- 271 S Mapleton Dr
- Los Angeles CA
- $62,500,000
- 8 Bed | 12 Bath | 31,450 SqFt
- 1.4 Acres
- MLS® #: 23-263239
- 1108 Wallace Rdg
- Beverly Hills CA
- $62,000,000
- 7 Bed | 14 Bath | 18,169 SqFt
- 0.57 Acres
- MLS® #: 23-271023
- 1220 Sunset Plaza Dr
- Los Angeles CA
- $60,000,000
- 6 Bed | 7 Bath | 11,412 SqFt
- 2.3 Acres
- MLS® #: 22-183864
- 24188 Case Ct
- Malibu CA
- $60,000,000
- 4 Bed | 7 Bath | 10,555 SqFt
- 3.45 Acres
- MLS® #: 24-363261
- 31272 Broad Beach Rd
- Malibu CA
- $59,500,000
- 6 Bed | 9 Bath | 12,301 SqFt
- 1.09 Acres
- MLS® #: 24-369323
- 1859 Bel Air Rd
- Los Angeles CA
- $58,000,000
- 9 Bed | 13 Bath | 20,000 SqFt
- 1.39 Acres
- MLS® #: 23-245455
- 41800 Pacific Coast Hwy
- Malibu CA
- $57,500,000
- 5 Bed | 7 Bath | 8,206 SqFt
- 0.83 Acres
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