February 2024 Market Update
What do you think will happen this year in real estate? Mortgage rates took a large dip since their peak in October. This has significantly boosted buyer demand and the market is starting to move again. The Federal Reserve did not cut rates in their last meeting and inflation reports were higher than expected, which…Read More→
Market Prediction for 2024
2023 was a tough year for real estate, especially for industries where a paycheck is tied to the number of transactions. Mortgage rates climbed to 8% and put the brakes on the market. Rates steadily increased throughout the year until inflation cooled off, allowing the Federal Reserve to slow rate increases and then pause rate…Read More→
November 2023 Market Updates
Interest rates were steadily marching up and seem to have peaked on 10/23/23 at 7.79%. After the Feds decision to hold rates steady, mortgage rates have dropped to 7.44%. The consumer price index (CPI) maintained its 3.2% level which has allowed many analysts to forecast the Fed could keep rates paused until Spring 2024 and…Read More→
September 2023 Market Update
Mortgage rates hit a new high with an average of 7.23% for a 30 year fixed. My annual free paper shredding event is coming up on September 9th. Visit the home page of www.WeSellHousesLA.com for more info. You can text me at 703-587-2918 to see if we can squeeze you in. Inventory is low and days…Read More→
June Market Update – 37% Drop in Sales
My wife had a baby boy on 4/28. He weighed 8 pounds 5 ounces and came out healthy and kicking. Here is our toddler hanging out with the baby (pardon the mess, we need sleep). For Southern California, sales have slowed considerably since last year. Sales volume (number of homes sold) has dropped 37.4% year over year. As…Read More→
Real Estate Predictions 2023
what economists and experts are saying Many people have strong opinions about how the real estate market will do in 2023. Market crashes are always popular on the news sites and get clicks regardless of the market cycle. However with the cooling economy, high home prices and rising interest rates, the risk of prices going…Read More→
WHERE TO PUT YOUR MONEY IN TODAY’S REAL ESTATE MARKET
Where to put your money in Today’s Real Estate Market What is the 1% Rule in Real Estate Investing Have you heard of the 1% rule in real estate investing? For cash flow properties, ideally the monthly rent is 1% of the purchase price. For example a $100,000 home that rents for $1000 a month…Read More→
Cali Red Hot Real Estate Market – The Party is Over
Interest rates have gone from 2.67% to 5.78%. In April showings in the West have dropped by 35.3%. Compass and Redfin announced a 10% and 8% cuts to their workforce. Affordability is expected to hit 17% once the Q2 numbers have been posted. Affordability in California last hit 17% in 2005. Right before the end…Read More→
May Featured Listings
May Featured Listings – Santa Monica 1747 9TH STSanta Monica, CA 90404 Rare opportunity to invest or develop multi unit residential property in Santa Monica prime location. This 7505 sq foot lot encompasses 3 separate income producing dwellings consisting of a main house, and 2 attached rear units with ample off street parking and garages….Read More→
How to Move and Keep Your Low Tax Basis in CA – Prop 19
How to Move and Keep Your low tax basis in CA – Prop 19 According to Freddie Mac the average 30 year fixed mortgage rate in the US is now 5.11%. The rate increase means a buyer’s payment is 24% more expensive than 2021. If you include a 10% price increase from 2021, then a…Read More→
