The Los Angeles Times featured as it's top story this weekend a commentary on the current housing market in Los Angeles. Citing the Census Bureau, Redfin, the National Association of Realtors and several others, writer Alejando Lazo brings to light what every agent and anyone currently in the market is experiencing: we are in a very unique time in the housing market.
Buyers are enjoying the benefits of record-low interest rates and prices well below they saw during the peak, and Sellers are seeing an extreme lack of inventory which is, in many cases, leading to multiple offers (on the Westside we have seen many properties with over 15 offers, and a few properties with over 30!!).
So if you are a Buyer- please expect to see a LOT of people at every open house you attend, and understand that you must be ready to move quickly if the right property comes along! All cash is usually best to a Seller, if you can swing it, but if you need to go with financing- interest rates are at an all-time low so make sure to get PreApproved (not PreQualified) to put yourself in the best position possible for the Sellers to consider you a serious Buyer!
Tip of the Week: Get a duster, a rag and/or some polish and get to work cleaning those banisters! If you do not have banisters in your house- you definitely have window sills and I bet they'd love a nice scrub before they are opened all summer long! Consider using a homemade formula of vinegar and water, or something natural you find in the grocery store like Nellie's brand products to keep toxins out of your house! Feel free to take a look at these Great Options!
