People seem to be so curious about the Real Estate market and what is really going on out there. I thought I would share my thoughts on the market and give you an idea as to what has been going on in the past couple of weeks.
Interest rates are so low now that I like to say that “money is on sale”. Rates like these do not happen often, and if you are waiting for prices to go down, know that there is never a perfect time to buy. You need to think about your personal situation and where you plan to live for the next 5-7 years. The average homeowner moves every
5-7 years, but of course, some move every 10 plus years. Such low rates can significantly affect your monthly mortgage payment (in a good way!).
Last month I posted about my newest listing 2818 Forrester www.2818Forrester.com. I listed the property at $2.5 Million and within 4 days we had a full price offer in hand. We are now in escrow and we will be closed by the early part of October. Most people are shocked when I tell them how quickly we sold and at what price. Why are they shocked? Here is what I think...I have found that people are only listening to the negative news reports about the economy and the Real Estate Market. I can tell you from personal experience that people are snapping up well priced properties in as little as 1 day on the market. I know this because I am working with several buyers in prices ranging from $400,000 and all the way up to several million. I do my best to advise my clients about when to make an offer quickly and at the price that I think they will be able to buy the property for. Some clients need to lose out on a couple of properties before they are emotionally ready to buy their next home. Others just need to see for themselves that the Real Estate Market in the West Los Angeles area is not affected in the same way as the rest of the country. We are so lucky to live in such a beautiful place with the most amazing weather. People from all over the world move to Los Angeles because of all the wonderful things we have here.
One of my clients in the $650,000 range was interested in 2 properties that we saw this week. We went out to see them and before she could get her husband on the phone, I got in touch with the agents to find out that they all had multiple offers and all were over asking. I am not writing this to discourage you from getting in on the market. Quite the opposite. I am encouraging you to stop paying someone else's mortgage and start paying yours! I have several clients that are actually saving money on a monthly basis by buying as opposed to renting! (The savings even takes property taxes into consideration.)
If you are thinking of selling, allow me to share with you how I am able to sell properties at full price in the first week on the market. I have a specialized plan and strategy that most Realtors have never heard of and would never take the time to put together. I am happy to give you references to speak with as I have hundreds of thrilled clients from over the years.
Be sure to click here to read some of my clients' testimonial letters about their experiences with me as their Realtor.
Revi Mendelsohn, Realtor
Rodeo Realty Fine Estates
310-838-3056
Revi@ReviMendelsohn.com
www.ReviMendelsohn.com
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