I am a Realtor in Los Angeles. Â Surprise!
â€¦ Burbank, Toluca Lake, Valley Village, Glendale, Highland Park, Eagle Rock, Studio City, Los Feliz, La Canada Flintridgeâ€¦. You get the picture.
And the most asked question I receive is, â€œSo, howâ€™s the market?â€™
â€œHowâ€™s the market?!â€ I respond somewhat excitedly.
This usually is followed by a confused, blank stare back.
Confused? I know how you feel. Let me explain.
I recently listed a property in Sierra Madre. This house is in a wonderful location, surrounded by beautiful mountains and lovely homes. It has been a bit forgottenâ€¦if you know what I mean. It needs work. Owners need to move for financial reasons. No problem. Â Iâ€™ll list it and get it sold.
I put it on the market. We schedule limited showings. Â I get bombarded with calls and emails. Â In less than 2 days, I receive over 15 offers, majority of them all cash buyers. There is a bidding war. It is on!
What is this?Â I speak with my colleagues on a daily basis about this market. We are also baffled. We smile, list the homes and throw our hands up.Â This is awesome.
Howâ€™s the market, you ask?Â
The market is intense!Â We are surrounded with a high demand and a low supply. Come on guys, we learned about supply and demand in high school. So what does this do? It creates a massive, albeit somewhat healthy, fight for properties.
As a seller, congratulations! No better feeling than having multiple offers. Sit and let them fight it out. Iâ€™ll be the referee.
As a buyer, you must be aggressive!Â Take it as a wonderful compliment of the area you are bidding on.Â Make the cleanest and strongest offers. Â Iâ€™ll be your coach.
Howâ€™s the market? Â Itâ€™s awesome! Â Letâ€™s play.
DRE # 01858104