Home Prices On The Westside and Los Angeles Area surrounding communities have for the most part dug itself out from the 2007 mortgage melt down and the dark real estate market. Prices have inched upward with higher buyer demand.
Home-buyers contend with tight inventory and bidding wars so making the right offer will get you the best chance to win out your competition.
Long gone are the days of abundant supply, huge REO/Bank Inventories and buyer’s choice to take their pick from whatever they wanted and at their price.
Forget the low ball offers!!! Taking this kind of a gamble will most certainly have a seller reject your offer outright, yep you guess it, not even a counter. No seller is going to waste their time countering back a low ball offer in today’s market, when they have buyers who are realistically pricing their offers at list price or above.
You have to give your best offer, reduce contingency time frames and move quickly. Any lallygagging around and you’ll miss your opportunity.
Home-buyers that are not flexible in terms of price, condition or area will only price themselves out of the market. Yes, everyone wants Marina Del Rey, Mar Vista, Venice, Culver City, Hollywood Hills, Burbank, etc but if you can only afford so much, you’ll have to expand your search and neighborhood parameters. No amount of thinking, wishing or dreaming that “maybe, just maybe” is going to get you a home in ta lower price range than what market value are in many of the above mentioned areas.
Regardless of pricing points, you must know the local market and make your offer accordingly.
So whether you decide to ignore the warning signs or continue to gamble on the “maybe, just maybe” – remember in this market:
What’s your take on today’s market? Have we’ve leveled off? Are we in for another bubble? Let’s hear you views and ideas. Please share, comment – good or bad, agree or disagree, we look forward to your comments and thank you in advance.
The Achievers Group @ REMAX Town Center: Kyle and Norma ~ proudly serving The Westside and Surrounding Los Angeles Area, Marina Del Rey, Culver City, Mar Vista, Palms, Hollywood Hills, Venice and surrounding communities with honest advice, integrity and commitment.