Real Estate in the upcoming new year 2023, Observations by Endre...

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Real Estate Agent with Berkshire Hathaway HomeServices 01238708

Real Estate in the upcoming new year 2023, Observations by Endre Barath, Jr. a Beverly Hills Realtor.

www.endrebarath.com

With October two-thirds in the books, naturally a majority of headlines are focusing on next year.  Even medical appointments are being made into 2023, as I hear Diane complaining that she needs her 2023 wall calendar.  October is one of my favorite months of the year.  Generally, the temperatures cool down and I welcome a respite from the summer heat; nights can be comfortable once again for sleeping without air conditioning. 

www.endrebarath.com

As for Real Estate in the new year, as I see it the current market shift is favoring buyers. I hear listing agents complaining about buyers and their unreasonable demands. Funny, not long ago I heard buyers’ agents complaining about the unreasonable sellers.  So, with that said, the next few months will, in my opinion and experience, offer excellent buying opportunities for the savvy buyers. 

 

www.endrebarath.com

The key lies with taking advantage of today’s opportunities.  With mortgage rates hovering around the 7% mark, many buyers and sellers have become discouraged.  (Keep in mind this is basically double what mortgage rates were in the beginning of 2022.)  The reality is this is a good place to be if you are a savvy buyer, because buyers now have the upper hand.  Well-priced properties are selling with little to no competition, thereby pressuring sellers to be flexible when it comes to price and terms. 

www.endrebarath.com

My advice is focus on the current Real Estate statistics, daily and weekly, not what one or two months ago looked like. View those statistics simply as a projection of trends.   Don’t grapple with the everyday craziness you see in the headlines, instead look at the current statistics and know that if you reach out to me, I’ll be happy to provide you with all that is up-to-date and local.  

Here’s hoping your Halloween is safe and filled with all of your favorite candy.

www.endrebarath.com

 

Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly! If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! 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 at 310.486.1002 ( m) homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com I contribute a portion of my commission to local animal rescue organizations. Endre Barath, Jr. Realtor at Berkshire Hathaway HomeServices California Properties DRE#01238708

Comments (38)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant Schneider  your comment is noted and it reminds me start writing more market reports...Endre

Oct 22, 2022 10:12 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina Hollander, Broker  make Hay while you can here in California, we are leading the US Slump in Luxury Home sales, Endre

Oct 22, 2022 10:13 PM
Nina Hollander, Broker

Endre Barath, Jr. the good news is that most of my real estate practice is not in luxury homes.

Oct 23, 2022 06:53 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael Jacobs  your comment is noted and where do you fit into the door knocking? Endre

Oct 22, 2022 10:16 PM
Michael Jacobs

Endre Barath, Jr. - I re-read my comment and I think it answers the question you pose.  Change is a part of life.  So is knocking.  At doors as well as self-head-pounding at times too.  It seems to be a choice that each of us has a choice.    Annoyances?  Or answering with adapting and adjusting.  Situations and circumstances come into play.  Maybe apparel requiring special restraints also.  

Oct 23, 2022 04:07 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  you have read my posts over the years, California has always been 4-6 months ahead of the rest of the country in how real estate is... so with that said enjoy it, things will change, Endre

Oct 22, 2022 10:17 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Ray Henson  my advice is well priced, well-staged and open to negotiations, Endre

Oct 22, 2022 10:19 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Dorie Dillard Austin TX  we are on the same page, Endre

Oct 22, 2022 10:19 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kat Palmiotti  I have sounded like I am preaching the reality California has always been ahead of the rest of the country how the market is... sadly we lead when it was great for sellers and we have led when it was great for savvy buyers... nothing has changed in the past 26+ years, Endre

Oct 22, 2022 10:22 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Brian England  I have always been super productive in the last quarter of every year, because everyone is focusing on next year, while I was focusing on the current year...Endre

Oct 22, 2022 10:23 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kathleen Daniels, Probate & Trust Specialist  I have conversations with those buyers and ask them if they really want to buy or just want me to write up 40 pages of an Offer and Disclosures to the sellers? :) Endre

Oct 22, 2022 10:24 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Will Hamm  thanks for stopping in and commenting, Endre

Oct 22, 2022 10:25 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Anna Banana Kruchten CRS, Phoenix Broker  thank you for your thoughtful comment and featuring me in BannaTudes:) Yes we are enjoying the cooler temperatures, just got back from walking Holly for her evening stroll and we got sprinkled on with some H2O:)Endre

Oct 22, 2022 10:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  not wanting to sound repetitive good for you enjoy, we are in a slump and leading the pack in the entire country:)Endre

Oct 22, 2022 10:29 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sheri Sperry - MCNE®  you make a great point, add to 8point plus inflation, add to that 7% interest rates and your point it is an election year on top.... bad combination just my two cents, Endre

Oct 22, 2022 10:30 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kathy Streib  thank you  and your point is well taken, I was showing a new listing of mine today and oh boy I was telling Diane how little the agent new about selling....Endre

Oct 22, 2022 10:32 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Endre Barath, Jr. - very nice projection for real estate in 2023. I also had to buy a 2023 Calendar because of next years medical appointments. Your cranberry dish looks delicious! Now is a good time to enjoy getting back into the kitchen now that the temps have cooled down. I remember buying my house in 1998 and thought 7.5% interest rate was a bargain compared to the previous time I bought a house.  

Oct 23, 2022 05:27 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Endre, 

I purchased my three 2023 calendars last week. 😊

Sage advice from you:
" My advice is focus on the current Real Estate statistics, daily and weekly, not what one or two months ago looked like."

Perhaps some of that rate increase can be offset with some negotiating room on prices.



Oct 23, 2022 08:42 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Patricia Feager, MBA, CRS, GRI,MRP  thank you for your lovely comment, the Cranberries were just being washed to make the Cranberry Sauce:) Funny you say that about the calendar, if I look at Diane's notes it is mostly Doctor's Appointments and Birthdays:) Endre

Oct 23, 2022 09:11 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Carol I had to laugh about the calendars... Diane is so like you:) Her home office, the Kitchen and I believe she has one in her Real Office too:)Endre

Oct 23, 2022 09:12 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

You are spot-on with your analysis, Endre! I believe many are 'stuck' in the 'It's a strong sellers market' mode, basing their analysis on inventory alone. While inventory may still be quite low, buyers are most definitely in the driver's seat in today's market. And, as you said, what happened (real estate sales) a few months ago is no longer of any consequence in today's market.

Oct 23, 2022 11:15 PM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hello Endre Barath, Jr., what happened six months ago or in 2021 is irrelevant. We have a different market now and the sooner we accept the facts, the better we will serve our clients. 

Oct 25, 2022 10:53 AM