Being at the forefront of current Los Angeles real estate market as a Realtor who entered the industry in 2005 (at 22 years old) I can truly say that this is my best year yet. There are many buyers who have been waiting on the sidelines to fulfill the need and dream to own their own home. They are looking to live and own a home for the sake of owning long term regardless of where the market will be 2-3 years. They have great credit, choose fixed financing and are able to afford these homes with their real, tax-documented income. As such buyer's absorb the inventory, we will we begin to see stabilization in the depreciation of homes and begin to see modest returns 3-6% until the next economic expansion where incomes begin to rise.
In fact, I sold over 14 properties homes in the last 120 days days which is amazing considering we have over 18,000 Realtors in the San Fernando Valley and there are 900-1600 sales per month. So yes, I believe the market is beginning to rebound, there are multiple offers on well priced properties and there are bargains out there for those who are willing to work at submitting offers on multiple properties until the right property is found for the right price.
Please contact me if you're interested in seeking representation in your next real estate transaction!
Written by Mark Gonzales Copyright 2008
Mark Gonzales is a Realtor for RE/MAX On The Boulevard, one of the Top 100 brokerage firms in the country. He possesses a Bachelor's of Science in Business Administration with a Concentration in Real Estate from California State University, Northridge and is considered to be an innovator in marketing homes. For permission to repost this blog please send an e-mail with 'REQUEST TO REPOST BLOG" in subject line to markgonzales100@yahoo.com.
Comments(0)