Thursday, January 25, 2018

Home Prices Still On The Rise in 2018

According to the latest study by Core Logic:

"...home prices will increase by 4.2 percent on a year-over-year basis from November 2017 to November 2018, and on a month-over-month basis home prices are expected to decrease by 0.4 percent from November 2017 to December 2017."

Prices rose 1% just between October and November 2017. Good news for home sellers, a challenge for cash-challenged buyers. The best a buyer can hope for is more inventory coming onto the market, which will help to slow increases and even possibly pull values down a bit.

Here in Los Angeles we've experienced a 7.5% year-over-year increase, according to economists at Core Logic.

Tuesday, January 23, 2018

Check Out This Map Of Home Price Increases In Los Angeles

I know we never like to talk about price increases when dealing with buyers, but sellers are loving this. CLICK HERE to see the map of Los Angeles and percentage of recent price increases.

Monday, January 22, 2018

What's the Hottest Neighborhood in Los Angeles for Homebuyers?

According to Curbed Los Angeles and The MLS, the hottest neighborhood that buyers are flocking to is... (drum roll) LADERA HEIGHTS!

No surprise to me. I've been telling buyers this for the last few years. Ladera Heights is crammed with great neighborhoods and gorgeous houses at prices that are considered very low by LA home buyer standards - but not for long!

The neighborhood lags behind in pricing from the most popular areas of Los Angeles, but they do rise right behind.

If you're ready to buy but worried about pricing in certain areas, let's take a look at Ladera Heights. Call Gerry 323-528-9989

#LosAngeles #HomesForSale #MillionDollarListing #RealEstate

Thursday, January 18, 2018

Never Start Out Shopping For A Home By Lowest Price

That's right. You should never start your home search based solely on a low price tag. I can't tell you how many times a buyer first contacts me to see a home whose price looks too good to be true, only to freak out at how unacceptable the area is for their standards.

My first question is: Why do you think it's priced so low? The equally shocking thing is they usually have never visited that area and know nothing about the neighborhoods. They've simply chosen the house because of the price tag.

Oddly enough, the first step I strongly recommend a buyer to take before looking at homes is getting pre-approved for a mortgage. This is the wake-up call everyone needs. You will learn you are approved for a lot more or less than you imagined. Hopefully the former. You will also avoid a lot of heartache due to looking at homes priced above your budget.

THEN it's time to start your home search, but not by lowest price.

How about this? Start looking in the areas where you know you want to live. Too expensive, you protest? Maybe you're looking at single family homes. Let's check condo prices. Still too high? Okay, now we move to areas a little lower on your wishlist. Are homes there within your budget? Condos? Hopefully yes. If not, on to the next. At this point, we are praying we find you a home you find acceptable in an area you can stomach.

What happens if we end up in that area where you absolutely will not reside? That almost never happens, if we take the right steps.

And remember: The buyer doesn't pay their agent's commission when they purchase a property. The Seller pays both agents' commissions. So there is no reason for you as a buyer to work with the listing agent whose allegiance, in the end, truly lies with the Seller.

Thinking of Buying or Selling? Call Gerry today at 323-528-9989.

#LosAngeles #HomesForSale #RealEstate #MoylanRealtyGroup #Houses #Condos #BeverlyCenter #BeverlyGrove #BeverlyHills #HancockPark #WestHollywood #StudioCity

Tuesday, January 2, 2018

JUST LEASED - Palatial 2-Story 3 BR 4 BA Wellington Square Home

JUST LEASED! Gorgeous home with 3 Bedrooms 3 bathrooms, living room, formal dining room, family room, laundry room, AND Bonus guest house with additional bathroom. Fantastic location. Over 3,000 Sq. Feet of living space. Two car garage, long driveway. Looking for something like this?

Are you a landlord in need of help finding the right tenants? Or maybe you want to sell or buy. Call Gerry 323-528-9989