A Busy Start to the New Year!

January 27, 2023

A Busy Start to the New Year!

A Busy Start to the New Year!

As we approach the end of January, we have seen a sharp contrast to the real estate market compared to the end of last year when it was very quiet.

Already, we have several home purchases under contract, ranging in purchase prices from $1 million to several million dollars. The amount of discounts we have helped our buyers secure varies. On some properties, we negotiated several hundred thousand dollars below list price (and included the seller’s furniture as well!). In other cases, we were in multiple offer situations and had to go above the list price to beat the competition.

The market is a mixed bag right now, depending on location and product. If you would like to know about any specific areas or want to try to take advantage of this buyer’s market, give us a shout.

Our Advice

Need an “inflation buster?” With high interest rates being the talk of the town lately, there’s lots of hesitation amongst buyers to purchase homes right now. True, over the last several months it has quickly shifted from a seller’s market to a buyer’s market, but prices have not adjusted enough (translation: prices have not fallen enough). Depending on location, many sellers are having major difficulty trying to unload their homes to a willing buyer. However, there are a few savvy sellers (and saavy buyers) that have caught wind of a technique to make home ownership more affordable. These sellers are offering a Mortgage Buydown which is a technique to help reduce a buyer’s interest rates enough to make a major difference in the buyer’s monthly payment for the first few years only. This is often a better option than to reduce the purchase price because that discounted amount is typically spread across the life of the loan, perhaps 30 years. We have effectively used a mortgage buydown for our latest listing which just opened escrow yesterday! For more information, check out this Axios article by Emily Peck, or ask Dennis or Vivian!

Read Our January Newsletter Here

Recent Blog Posts

Stay up to date on the latest real estate trends.

Real Estate Market Update - 08/08/2023

August 9, 2023

Mortgage rates have seen a slight increase as of July 27. The 30-year fixed-rate mortgage now stands at 6.81%, up from last week's 6.78%. Comparatively, this time last… Read more

The Market Momentum This Summer

July 10, 2023

We are delighted to bring you some exciting highlights on the current state of the Greater Los Angeles and Orange County housing markets. As we delve into the luxury a… Read more

A Strong Start in Summer Sales

June 9, 2023

The residential housing market in Los Angeles and Orange County has exhibited remarkable strength, marked by high demand and limited supply. This trend shows no signs … Read more

Gearing Up for the Start of Summer

May 18, 2023

The recent rate hikes by the Federal Reserve have had a noticeable impact on mortgage rates. As interest rates rise, mortgage rates tend to follow suit, making it more… Read more

Springing Ahead in the 2023 Real Estate Market

April 21, 2023

As we enter the Spring season of 2023, we wanted to provide you with an update on the current state of the real estate market. In recent months, we have seen a steady … Read more

Spring Forecast for L.A. Home Sales

April 4, 2023

Spring is here and is typically a busy time for our team to prepare our sellers to list their homes on the market. Simultaneously, we have been working diligently to f… Read more

Banking Disruptions - A Potential Silver Lining for Homebuyers

March 17, 2023

So much has happened these last two weeks in the banking sector. The collapse of two prominent banks has caused a state of panic, forcing the Federal government to mov… Read more

Getting Past the Rain

March 3, 2023

Torrential rains and mortgage rates hikes in Los Angeles and Orange County amidst the past several weeks didn’t stop many of our buyers and sellers from making big mov… Read more

The Housing Market Is Off to the Races

February 14, 2023

January was a hot month where we saw buyers jumping back into their home searches as mortgage rates took a brief yet significant nose dive compared to where rates were… Read more

Let's Talk

You’ve got questions and we can’t wait to answer them.