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In these uncertain times there is plenty of information and unfortunately, misinformation, about the current state of the housing market. The misleading predictions and status updates about the market apply both here locally in Los Angeles and the country as a whole. Given the potential for ambiguity and confusion, I want to set the record straight and help both current homeowners and future bu...
Watch video update instead PRICES Prices will continue to increase. Some experts predict as much as 20% year over year increases in some areas. This means that a home in this Spring market might cost as much as 20% more than it would have last Spring market. INVENTORY Inventory continues to be a problem. This is the case throughout the country, not just here locally. Take ...
Click to watch video update instead MARKET STATS FROM CALIFORNIA ASSOCIATION OF REALTORS California Median Price: $758,000 California Median Days on Market: 8 Sales to List Price: 102.2% WHY IS THE MARKET SO COMPETITIVE Lack of Inventory! The three main factors that are contributing Construction not keeping up with population growth Sellers tha...
With forbearance plans about to come to an end, many are concerned the housing market will experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here are four reasons why that won't happen. 1. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their home to a foreclosure, short sale, or ...
On September 16, 2021, Governor Gavin Newsom signed Senate Bill 9 (SB 9), also known as the California Housing Opportunity and More Efficiency (HOME) Act. The passage of SB 9 will forever change single-family zoning in the state of California. The bill was created with the purpose to increase housing in the state. SB 9 allows homeowners of single-family property to divide their single-family pa...
Have you heard that the real estate market is slowing down? That prices are going to drop and you should wait before you buy a home? Let's discern fact from fiction, shall we? Read on to get key notes about prices, inventory, and interest rate for the Los Angeles County market for 2021. PRICES Let's start with prices. Prices have been appreciating in the d...
Have you heard the old adage, "timing is everything"? Well, that might be true for relationships, but timing is not something to stress over when considering when to list your home in Southern California. Why? Because the best time to list is the time that works for you. The best time is once you've decided you need a bigger home, a different neighborhood, or a better school ...
