Where Is The Market Headed With Everything Going On In The World?

In a matter of a couple weeks we've seen a lot of news making stories.  And you're not alone in this feeling of being unsettled by it.  And as an expert in real estate here in the Valley, I get asked all the time where things are headed.  I hear "my friends say the market is going to stabilize" or "my co-workers say we are headed for another crash".  But let me be very clear on something...if your friend or co-workers knew these things to be true, then they would be buying, selling or what-have-you to back up their predictions.  Fact is, no one knows where things are going.  And anyone who says they do is giving you lip service.  But we can talk about what we know and what that means.  We know interest rates are incredibly low.  We've all been waiting for them to rise and that hasn't happened YET.  And of course I put that in caps because it will...that is one thing that is for sure.  We also know that here in LA we are still in a seller's market.  But things are starting to shift a little.  And here's what we are seeing.  If seller's price their home just barely too high, the house will sit.  If the house is priced very well, their will be multiple offers but seller's aren't in a position to play high-and-mighty with buyers because buyers are willing to walk away and wait.

So, if you are looking to buy...get out there and find your home.  Interest rates are superb and that won't last.  Also, the horror stories of the past couple years with insane multiple offers and requests from sellers are slowing down.

If you are looking to sell.  We don't know what the future holds.  Or how the election or any other major event may play a roll in the real estate market.  So if you would like to walk away from your home with a good price and get into something you're hoping to stay in for a while, this may be the right time for you.  If you are more of a gambler and want to wait, or this just isn't the right time, then there is the chance you may not sell your house for what it is worth today.  Or you may have to stick with living in your home for a bit longer than you thought if the market does dip.

Again, no one knows where things are headed.  But I would love to talk with you about what we can do now and what your house would be worth today.  Give me a call and let's set up an appointment.  I'm always here to help.