This home has obvious major curb appeal from the front so why is it a "hidden" gem? Because from the street you would never know to expect a multi-level 1,335 square foot home or such a huge and impressive backyard space. This home has been remodeled throughout, with plenty of attention to detail,...
A boutique real estate brokerage servicing LA’s Eastside & beyond
Los Angeles Market Update
INTEREST RATES, SCHMINTEREST RATES, AND WHY THIS IS NOTHING LIKE 2008
When interest rates doubled by the end of 2022 many expected the seemingly over-inflated Los Angeles real estate market to follow suit, with prices adjusting sharply downward. Buyers kept a close eye on the market looking for bargains and price drops from September through February, yet here we are watching homes go $300k – $900k over ask on a regular basis. It almost feels like skyrocketing interest rates had zero affect on the LA real estate market. Almost . . .
Homeowners who locked into a 2-3% rate in recent years would be looking at selling their home for an equivalent home at almost twice their current monthly payment. For the most part the only people who are selling right now are doing so out of necessity: work relocation, death, divorce, or a growing family.
Los Angeles County currently has less homes on the market than any other time in recorded modern sales-tracking history.
What are we looking at? 37,408 homes on the market in spring of 2008 and 4,042 homes on the market today. 😫😫😫😫😫😫😫😫😫 If you’re sitting on the sidelines waiting for a crash like 2008, I’m sorry to say this aint it.
All hope is not lost – LA County had almost as few homes on the market in March of 2022, with inventory numbers rebounding to almost double by July. If this year is anything like last we should see a wave of inventory hitting the market in the next 3 months so buyers should stay the course. Slow and steady wins the race.
Sellers: This is a fantastic time to sell in LA. We’re starting to think there will never be a bad time to sell in LA. On that note, Buyers: It will always feel like the top of the market when you buy, you just have to get in there and bite the bullet. It’s a great time to buy a 3-5 year home, or even better a 5-10 year home.
Thinking of buying or selling in LA? Hit us up, we’d love to chat!
3052 Olive Ave – The Picture-Perfect English Cottage in Altadena
There's no denying the storybook charm and curb-appeal of this Altadena gem, and priced at only $455 a square foot this home could be a great option for someone wanting a vintage yet turn-key home and needing more space but who is priced out of more central areas like Los Feliz, Silver Lake, or...
This Colorful and Private Highland Park Spanish with Incredible Views Could Be Yours for $549,000
Here we have another case of the photos for a property not doing it justice. This home is really warm and sweet with personality in spades, not to mention one of the most sweeping views you will ever find at this price point. Sure, the current owner seems to have a major thing for color, and I'm...