Happy New Year 2017! Ready or Not it is a New Year, time to move forward. All the surveys and media outlets indicate that there is a sense of relief and optimism towards the economy, real estate and the list goes on and this is based on input by our fellow countrymen.
I love unbridled optimism. It does not matter if it is based on facts or not, the benefits are always positive as they trickle into local communities. Everyone truly benefits, instead of being bombarded with all the bad news, there is positivity (which is such a rare message from the Media).
I for one was so tired of all the negativity on all platforms in 2016 (with the exception of Active Rain), hence I am looking forward to a positive 2017 fresh with optimism to fill my brain. This in turn will inoculate me from the potentially negative messages which will surely come during the year.
So, with that said let’s look at the FUTURE AHEAD in 2017. Since I am a Beverly Hills Realtor I look just about everything from a local Real Estate Perspective.
- There will be a strong influx from high net worth individuals who will ‘park’ their money into ultra-luxury real estate in the Mega Mansions of Beverly Hills and vicinity.
- Commercial Real Estate Developers will be going full speed ahead to get some new building on line in the downtown Los Angeles as well as Century City all the way to the Pacific Ocean to Santa Monica.
- New Construction Luxury Condominiums will easy the shortage of Condominium inventory from Downtown Los Angeles to Pacific Palisades.
- There will be an increase of small developers stepping into the land buying and new home building market from Malibu to Mt. Washington. This is well needed and overdue to ease the shortage of new home construction in the Hollywood Hills.
- First time home buyers who have been sitting out the market will step in because of fears of higher interest rates of loans as well as price increases of Single Family as well as Condominiums in the greater Los Angeles area.
- This increase of first time home buyers as well as banking loosening of funds will allow the upward buyers to purchase homes. Since they had to wait for the past couple years to move up as well.
- All these factors will also help the local economy and Restaurants and all the ancillary business will benefit as well.
So, overall I anticipate a continuation of a strong Real Estate market with more buyers stepping into Real Estate home ownership compared to 2016 to 2017. Hence Real Estate activity will be stronger in all aspects.
If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com. I am a Pet Friendly Realtor and I contribute a portion of my commission to local animal rescue organizations.
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