Observations from a Beverly Hills Realtor: Endre Barath,Jr....

By
Real Estate Agent with Berkshire Hathaway HomeServices California Properties 01238708

As we count down the final days of 2023, I wish you peace and enjoyment as we enter the holiday season.

www.endrebarath.com

 

While most focus on the holidays, savvy buyers and sellers continue to watch the economic reports to gauge what the Real Estate market is doing.  With interest rates now hovering between 6% to 6.75%, potential buyers have once again been given the potential to purchase homes that a few months ago seemed out of reach. A drop from 7.5-8.0% makes a significant difference to a buyer's purchase power.  

www.endrebarath.com

 

In more news, the Federal Housing Finance Agency (FHFA) has announced that the loan limit for Fannie Mae and Freddie Mac mortgages in 2024 will increase in high-cost areas such as Los Angeles to $1,149,825.  This is good news for both buyers and sellers. On a side note, this is the 8th consecutive year of increases in these loan amounts; buyers who are waiting for significant price drops in 2024 will be very disappointed.

www.endrebarath.com

 

This brings us to the question of what will the Real Estate Market look like in 2024? From what I am seeing, if the Fed continues to loosen its monetary policy, that will be favorable to interest rates. This will move buyers off the proverbial fence and again there will be more buyers competing for fewer listings on the market. Hence, I anticipate more turbulent real estate activity as many buyers face more competition causing prices to remain elevated.

 

Although we are officially in the holiday season, there are still buyers and sellers conducting real estate.  As always, I remain available should you have any questions or need representation in buying and/or selling a property.

 

My best wishes to you throughout the holidays. 

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 (30)

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

Wayne Martin  I work 24/7 and Christmas is my day off:)Endre

Dec 05, 2023 10:27 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

With interest rates coming down, I am sure that a lot of buyers will jump on the opportunity to buy a home!

Dec 06, 2023 03:49 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Endre Barath, Jr. Any time we are going into an election there are changes to be noticed but it doesn't stop those that want to buy who can buy. Those candies are making my mouth water. When buying luxury, a box of candies like the ones you shared seem fitting too. I am in agreement with you.  

Dec 06, 2023 03:58 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Endre Barath, Jr. -  Sedona is a second home or retirement market for many.  I do not see much change in 2024 from 2023.   If you have cash and don't need a mortgage, you can buy and sell as you wish.  

We also have homes that are short-term rentals.  So as the economy tightens, vacation rentals go vacant.  It will be interesting.  I am not so sure we are not headed for a recession.  Many have overextended their credit and this could be a huge problem moving forward.

Dec 06, 2023 10:00 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Hi Endre - oh those chocolates look lovely! I used to make those years ago and maybe you've inspired me to do so again.  As for the market, it appears it's still ticking along in my neck of the woods.  Homes are going pending and closing and new listing are popping up.  I'd say it's kind of a balanced market here. And there still is  a lot of cash flowing around. Interest rates should help the younger crowd of buyers this next year.

Dec 06, 2023 12:50 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Endre:

You've certainly offered some tasty tidbits for us, and for buyers. Your fur family seems pretty content.

Those interested in buying need to pay attention to the shifts, and have guidance from someone like yourself.

Jeff

Dec 07, 2023 09:04 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Oh, those are some great observations from Beverly Hills #1 Realtor®, Endre! And, those Shari's Berries look AMAZING! We also love them so much, we gift them to clients too!

 

Dec 07, 2023 09:02 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kat Palmiotti  loved your comment and indeed in the long run who cares you can always refinance and, in the meantime, write it off your taxes, Endre

Dec 07, 2023 09:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  since it is Holiday Season I thought of illustrating my point with Sharis Berries and as Kat Palmiotti  our pets are relaxed with what is to come soon:)Endre

Dec 07, 2023 09:28 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Dorie Dillard Austin TX  I also gage with the number of inquiries I get on my land listings that is a good gage of how the market is doing, Endre

Dec 07, 2023 09:30 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Mark Don McInnes, Sandpoint-Idaho  that basically helps the middle class here in Los Angeles:))Endre

Dec 07, 2023 09:31 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Will Hamm  Diane does not allow me to bake so no cookies for this house:) now with that said I am happy to send you my address to send me the extra cookies you do not know what to do with:))Endre

Dec 07, 2023 09:32 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina Hollander, Broker  Sharis Berries and they are good have given and received them from various people and sometimes I reward us with them too:)Endre

Dec 07, 2023 09:33 PM
Nina Hollander, Broker

Endre Barath, Jr. well then, Endre... I have to retract my comment about the chocolates looking good... I'm not a fan of chocolate covered fresh berries! 😉

Dec 08, 2023 03:27 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  maybe I need a separate bedroom?:)))))))Endre

Dec 07, 2023 09:34 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Brian England  indeed those fence sitters will jump in the game I see already an uptick of the numbers, Endre

Dec 07, 2023 09:35 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Patricia Feager, MBA, CRS, GRI,MRP  nice comment and I was not even thinking about the election year, Endre

Dec 07, 2023 09:36 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sheri Sperry - MCNE®  thank you for adding to the conversation from a regional perspective.... yes when fewer travel or cannot afford a vacation it effects your market on many levels, Endre

Dec 07, 2023 09:38 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Anna "Banana" Kruchten  if you  make them make sure to include my mailing address:) seriously your comment is spot on, Endre

Dec 07, 2023 09:39 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff Dowler, CRS  your comment is well taken and I am mostly available to help those that need advice or representation, Endre

Dec 07, 2023 09:40 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  thank  you for your kind words and what we love we have no problem with giving to others:)Endre

Dec 07, 2023 09:41 PM