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Is Los Angeles Real Estate a Buyers' Market?

By
Real Estate Broker/Owner with Home Jane Realty BRE# 01439865

Following my recent post:  Los Angeles real Estate is it a Sellers’ Market

As a Los Angeles home buyer you will want to know where the best deals are right?  Unfortunately, Los Angeles is not a city for real estate deals.  There are buyers’ markets but that does not mean that you are going to be able to find a bargain.

Los Angeles Downtown

The Los Angeles real estate buyers’ market is mostly at the luxury end.  You know that sellers have received offers, but they have probably been way below the listing price and those sellers are not willing to budge.

There are many areas where there is low inventory so when something comes on the market which is priced well it will go into multiple offers.

Let’s see where you might want to consider looking if your are buying a Los Angeles home:

Beverly Hills single family homes over $5 million.
Beverly Hills condos over $1 million.
Brentwood single family homes over $5 million.
Brentwood condos for sale over $1 million
Downtown Los Angeles condos over $500,000 
(this is only slightly leaning towards a buyers’ market)
Santa Monica:

90402:   Condos
90404:   Single family homes
Westwood condos over $1 million
Bel Air | Holmby Hills: 
 single family homes
Hollywood:  condos
Hollywood Hills West | Sunset Strip:  single family homes
Marina Del Rey:  single family homes
Pacific Palisades:  condos
Playa Vista:  single family homes and condos
Studio City:  single family homes and condos
Venice:  condos
West L.A.:  condos

There may be some fluctuation in this, depending on the higher price ranges but overall, the above areas reflect a Los Angeles home buyers‘ market.

L.A.3 Los Angeles Real Estate is it is Buyers Market

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.


Read more: http://www.homejane.com/los-angeles-real-estate-is-it-is-buyers-market.html#ixzz1qL0UgLJi

Comments(20)

Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

That's the beauty of you Jane. You tell it like it is. This way your folks do not have unrealistic expectations.

Mar 27, 2012 05:21 AM
Kathy Schowe
California Lifestyle Realty - La Quinta, CA
La Quinta, California 760-333-8886

Buyers AND sellers need to contact you to find the best deals in LA... that is a GIVEN!!  Kathy

Mar 27, 2012 06:42 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Jane - It's good to know that it's still a buyers' market in the high-end, luxury market.  I'm sure there are still a few deals left to find before that market turns and once again becomes a sellers' market!

Mar 27, 2012 06:57 AM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I'm not sure what kind of market it is, but it does not seem to be like the traditional markets--since we still have so many distressed properties in certain cities and counties.

Mar 27, 2012 10:23 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Craig,  there you go.  I am nothing else if not brutally honest :)

Kathy,  thank you.

Laura,  I hope it does become one.  It is somewhat stuck right now.

Melissa,  not so much on the Westside of Los Angeles.

Mar 27, 2012 11:06 AM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

But my uncle in Kansas told me real estate is dead. Those sellers will jump at my pennies on the dollar offer.

Mar 27, 2012 11:58 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Jane, another very informative post showing your expertise in the Los Angeles real estate market. Buyers who are considering buying a home need to contact Jane Peters.

Sharon

Mar 27, 2012 12:45 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Doug,  give me your uncle's number.... :)

Mar 27, 2012 12:51 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Sharon, thank you kindly.

Mar 27, 2012 12:57 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

we have a mixed maret too.  Some price ranges working great for buyers.... others we're having bidding wars where sellers are really reaping the benefits.

Mar 27, 2012 01:20 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Tammy,  I think it is a universal situation.

Mar 27, 2012 01:31 PM
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Hi Jane - It's nice to know that you guys in California are starting to catch up to the rest of the country. I still have buyers who are in shock to find out that they have waited about 12 months too long to get a great deal. The homes in popular neighborhoods now have multiple offers usually the first day they come on the market. If you want to make a lowball offer in that environment, find another realtor, I don't have the time.

It's great to hear that business is picking up for you.

Mar 28, 2012 12:34 AM
Sharon Paxson
Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA
Newport Beach Real Estate

HI Jane - excellent post, and we are seeing multiple offers as well.

Mar 28, 2012 02:16 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Larry,  I know how busy you are in your market, Larry.  It is all great news.

Sharon, thank you.  I am sure our markets are on a par.

Mar 28, 2012 02:59 AM
Broker Patty Da Silva Da Silva
Green Realty Properties® - 954-667-7253 - Cooper City, FL
Top Listing Broker

Jane,

We have very little inventory here in South Florida as well. My listings are all receiving many offers (up to 12, really!). Buyers are going to pay a property's currently market value, the "deals" are a thing of the past.

 

Mar 28, 2012 03:02 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Patty,  that's good to hear.  But we still do need inventory for the market to really pick up.

Mar 28, 2012 03:22 AM
Broker Patty Da Silva Da Silva
Green Realty Properties® - 954-667-7253 - Cooper City, FL
Top Listing Broker

Jane, is the rental market busy as well? It is here partly because so many have sold their homes as short sales and have now become tenants.

 

Mar 29, 2012 12:04 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Patty,  you can't keep a good rental on the market.  It is hot, hot, hot here, more because people are moving here or downsizing.  

Mar 29, 2012 04:37 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Michelle,  it really always is.  Sellers control the deal.

Mar 31, 2012 11:05 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jane - I bet a lot of buyers are surprised to hear that it's a sellers market, I know buyers are in my area.

Mar 31, 2012 11:07 AM