I am sure you are hearing stories from all around the country about the shortage of inventory. Is this true about the Los Angeles real estate market? Yes it is. The Los Angeles real estate half-yearly market report for June 2012 will give you an idea how low that inventory is.
There are buyers out there, some desperately looking for properties which they can’t find. They keep looking at old inventory trying to see if that will work. But there is a reason that homes sitting on the market have not sold, generally because they are overpriced, or there is some kind of problem, or maybe a short sale is in process.
Mortgage rates are at an all-time low right now and the Los Angeles real estate market has its fair share of cash buyers, but none of this is any good if there is nothing to buy.
Why are Los Angeles home sellers not putting their homes on the market, at least those who are not in any hardship? Could it be that they are waiting for prices to go back up? Probably. When are prices going to rise enough to make it attractive for a homeowner to sell? Who knows. If there is no reason to sell it would seem that now is not the time. However, if a homeowner is thinking of downsizing, moving, or simply needs a change, then now is as good a time as any. As we know, when you sell low you buy low. Nothing is lost. And waiting for the market to rise could also mean watching mortgage interest rates rise and the buying power of the market diminish.
Homes put on the market in a good area at a good price are receiving multiple offers and often going quickly at or over asking price.
Los Angeles home sellers, you are needed. Isn’t it good to feel needed!
Current homes for sale in Los Angeles
Buying or Selling Los Angeles Real Estate
Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!
When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.
If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.
Westside Los Angeles Real Estate, including, but not limited to:
- Westwood Real Estate – Westwood single family homes, Westwood condominiums, Wilshire Corridor condominiums, Century City condominiums
- Brentwood Real Estate – Brentwood single family homes, Brentwood condominiums
- Santa Monica Real Estate – Santa Monica single family homes, Santa Monica condominiums
- Beverly Hills Real Estate - Beverly Hills single family homes, Beverly Hills condominiums
- Culver City Real Estate – Culver City homes
- Silver Lake Real Estate - Silver Lake single homes
- Echo Park Real Estate – Echo Park homes
For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919. You may also request a Market Snapshot of your area of interest.