By Coco Clayman-Cook
The end of the year has shown a mixed bag of condo results for Los Angeles. Relatively, Los Angeles continues to fare much better than the rest of the country. Prices are down and inventory is up. Many 
agents are taking listings at prices that are not realistic and I honestly feel bad for the Seller because this is not 2006 this is going to be 2009. Some of of the buildings are still getting premium prices but not nearly what we are seeing in other real estate markets. Still, many sellers have made the inevitable decision to sell their homes and do what I call a soft landing and rent a condo or house until the market adjusts and then buy. I cannot tell you how many people I have contacting me for rentals. And honestly in this market it makes sense unless there is a property that is a good deal and works for you.
With condos on both the sale market and lease market the buyer's market has become slightly more competitive. For those who want to sell they are finding that opening pricing has got to be competitive. For those who want to buy having cash and a real pre-approval letter with proof of funds is beyond essential. For those buyers with pre-approval and cash down payments, the world is your oyster, pick a pearl! Just know that just because you may have heard that the market is so bad here in Los Angeles the Westside and Golden Mile continues to get high prices. The Sellers are not desperate.
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