Busy This Time of Year

October 31, 2023

Busy This Time of Year

Busy This Time of Year

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 and sellers should take note of. Despite the market cooling down, we have been witnessing a trend of very short days on market for the most desirable properties. This competitive atmosphere can be seen as a testament to the enduring appeal of homeownership in Los Angeles and Orange County, even in the face of a softer national market.

For sellers, this means that well-priced and well-presented homes can still attract a flurry of attention from eager buyers. One positive aspect we've observed is that appraisals in the residential condo and single-family home markets have remained strong, consistently aligning with property values. This is reassuring for both buyers and sellers, as it ensures that transactions are being grounded in accurate assessments, promoting confidence in the market. Lenders also have stepped up to assist buyers, especially first-time homebuyers, in the face of rising interest rates. At a time when borrowing costs may seem daunting, attractive lending programs are helping buyers cover their costs and make homeownership more accessible.

As we approach the end of the year, historically, it's a time when many individuals contemplate buying a new home either for personal reasons or for tax purposes. This consistent demand is expected to keep the market stable. However, there will be opportunities for astute buyers to secure excellent deals. The end of the year often sees sellers motivated to close deals before the new year, potentially leading to favorable terms and prices for those looking to make a move.

2023 has presented its share of challenges in the real estate market and the world, but our dedicated team is here to guide you every step of the way.

What has Highland Premiere been up to?

We have been incredibly busy at Highland Premiere! This may seem contrary to all that you may be reading in the news. In fact, we are helping buyers, sellers, tenants, landlords, developers and investors on all fronts. We are involved in everything that is residential and we currently have a land deal, an investor flip, a project with permits Ready-To-Issue, a penthouse condo, a mid-century modern marvel, a 3-story SFH and many more deals underway. Many of our transactions are off-market sales and purchases. And we continue to help landlords lease out their rental properties and help tenants look for new rentals all throughout Los Angeles County and Orange County. Perhaps you have some real estate needs or some questions and are nervous about the current state of the market. We have not missed a beat this entire year and we can help you navigate this down market with success!

Read our October Newsletter Here

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