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.

April 2024: Los Angeles Market Update

April 15, 2024

Navigating the Shift: Price Drops Create Opportunities for Buyers

Optimism is in the Air

February 5, 2024

The outlook for the 2024 housing market can probably be characterized in one word: Optimism. We are starting to see a lot more optimism this year already, coming out o… Read more

New Year, New Beginnings

January 20, 2024

As we embrace 2024, it's a time for new beginnings, and the real estate landscape in Los Angeles and Orange County is no exception. We're thrilled to share that the ho… Read more

Navigating the Current Mortgage Landscape: Rates, Trends, and Year-End Opportunities

December 20, 2023

As we approach the end of the year, we find ourselves amidst a dynamic real estate landscape, with mortgage rates taking center stage in the recent weeks. Here's a qui… Read more

Busy This Time of Year

October 31, 2023

Fall has arrived, and with it comes a noticeable softening in the real estate market. However, this change has brought forth some interesting dynamics that both buyers… Read more

A Slowdown in the Housing Market

September 29, 2023

As we step into the current landscape of the real estate market, it's evident that things have slowed down, with prospective buyers showing caution in the face of clim… Read more

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

Let's Talk

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