People often ask me how things are in Real Estate. When I tell them that things are great, they look at me doubtfully. It is so interesting to me, to find out how people get their Real Estate info. It seems to me that everyone has a friend who is a realtor or that someone they know has not been able to sell their house. (tell them to call me!) Why do people prefer to only listen to the bad out there? Frankly, last year was a
fantastic year for Real Estate. The year before that was great too. Last year (2011) I closed 20 deals and the year before that (2010) I closed 18 deals. I know that I am not the only person out there selling Real Estate, I just can’t be.
Many thousands of homes were bought and sold in LA county last year.
If you want real info on the market, take a look at the numbers below. As you can see, properties are selling (see # of units sold), but Days On Market (DOM) are up, and cost per sq foot is down slightly. Is the market in a downward spiral? I don’t think so. Sellers are still selling. Buyers are still buying. Interest rates are at an all time low of about 4% (or less!). If you are thinking of getting into your first home, this is a great time to do so. If you are thinking of moving into a bigger house, this is a great time too. We are so fortunate to live in an area where people will always want to live. Will there ever be a time when they will be giving away properties? Not likely. Although I do often tell buyers that the places where they are giving away property are not the places where they would want to buy or live.
If you are curious about the market, let’s set up a time to meet and I will gladly share some some of my real estate stories from the past year. Although I closed a good number of deals, I did not say it was easy. To be able to close deals in this market, you need to be a proven negotiator and a solution oriented Realtor. It is amazing to me how sometimes all it takes to get a deal closed is a little creativity and a good sense of humour.
Avg price persf $715 $670
