Where is the Los Angeles Real Estate Market Right Now?

By
Real Estate Agent with Power Brokers Int'l BRE# 01439865

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.Where is the Los Angeles Real Estate Market Right Now?

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:

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.



Read more: http://www.homejane.com/where-is-the-los-angeles-real-estate-market-right-now.html#ixzz21Ha42RZE

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Topic:
Real Estate Industry
Location:
California Los Angeles County Los Angeles
Groups:
Market Reports
Tags:
los angeles market report
homes for sale
los angeles real estate

Comments 19 New Comment

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Rainmaker
862,908
Jane Peters
Connecting you to the L.A. real estate scene
Power Brokers Int'l

Leolinda, oh, I hope not.

July 25, 2012 10:31 PM
Rainmaker
134,415
Paul Francis
Las Vegas Real Estate - Summerlin Homes - 702.592.
Prudential Americana Group - REALTORS

Good luck with the new law that was just signed by Gov. JB.

If it ends up having the effects similar to what is taking place in Las Vegas right now after NV put it in effect 10/1/2011... Inventory is going to get decimated as people not paying their mortgages get to live rent free for another couple of years.

Median list prices in LV are up over 50% compared to this time last year and the inventory is the lowest I've seen since 2004.

 

July 28, 2012 04:28 PM
Rainmaker
862,908
Jane Peters
Connecting you to the L.A. real estate scene
Power Brokers Int'l

Paul, the market it a lot different here.  We are not buried in foreclosures, but hopefully it will not affec the short sale market, which also isn't huge in my particular areas.

July 28, 2012 07:14 PM
Rainmaker
390,933
Mike Young
FHA 203k Consultant 707-812-7668
203kOnLine.com, covering California & most other states

interesting post and discussion aftwards

July 29, 2012 10:37 AM
Rainmaker
862,908
Jane Peters
Connecting you to the L.A. real estate scene
Power Brokers Int'l

Mike,  thank you.

July 29, 2012 10:41 AM
Anonymous
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Rainmaker
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Jane Peters

Connecting you to the L.A. real estate scene
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Additional Information

A Los Angeles Realtor® specializing in absentee owners, out-of-town buyers and those needing extra assistance with one of the most important transactions of their lives. Just sit back and relax! You are in capable hands.

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