Home Buying in 90046>Question Details

mrpearl67, Home Buyer in 90046

Do you see the supply of homes in the LA area staying low ?

Asked by mrpearl67, 90046 Fri Nov 15, 2013

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Yes ,buyers are taking advantage of historic low interest rates,in some instances it is cheaper to own a home than rent with the government tax credits for interest deductions .Once the interest rate rise above 5.25-5.5 we should see a build up of inventory.Good Luck !
0 votes Thank Flag Link Sat Nov 23, 2013
The supply of homes can vary throughout the year. There is a seasonal element involved (even though we don’t have harsh winters). There tend to be the most properties in the spring through early summer. Fall and winter contracts a little. If you are a buyer though, it may be a great opportunity during slow periods. The sellers who do remain in the market are normally motivated to sell, plus there are fewer buyers.
If you like more information, feel free to contact me directly at
Mack MacReady
The Real Estate Detectives at Keller Williams
mack@kw.com
text/cell 310-367-4599
0 votes Thank Flag Link Tue Nov 19, 2013
Hi there,

The supply of homes in LA is slowly increasing. More homeowners are realizing that their property may have more equity because home prices are starting to go upward.

Please let me know if you have any additional questions.

Thanks,
Sara Mehrpouyan
Rodeo Realty
Direct phone 818-903-2040
Bre License #01712757

Thinking of Selling Your Home? Get a Home Value Estimate ONLINE here: http://www.GetLosAngelesHomeValue.com

Receive New Listings for Sale By Email here: http://www.newlosangeleshomesearch.com
0 votes Thank Flag Link Mon Nov 18, 2013
Well not a lot is coming on the market but there are not a lot of buyers appearing either. I think that the economy may be slowing down and so that could mean lower prices.

The fact of the matter is that no one can predict these things. The best thing to do is to look at your situation and make a decision based on that.

If you want some help with that please feel free click on my picture to contact me.
0 votes Thank Flag Link Mon Nov 18, 2013
Hi mrpearl,

Property inventories have been low all this year and the better part of last year from Westchester to Santa Monica and the Westside. This seems to have contributed to significant price increases almost monthly in most areas since the beginning of 2013 and the upward trend was already evident in 2012.

Though sales seem to be leveling off and maybe even cooling slightly over the last few months prices in many areas are now over their previous highs at the end of the 'housing bubble' in 2007-2008. Venice in particular has experienced explosive appreciation over the last year or so and the more affordable neighborhoods have also seen strong gains.

As for inventories... many houses have been coming up for sale only to be quickly snapped up in what has been an extremely active market. No one has a crystal ball when it comes to predicting what will happen in the coming year, but I expect a lot more properties to come on the market as more owners become aware of the substantial recovery in these areas.

Though conventional wisdom will tell you that this may result in price reductions I don't think that this is necessarily the way things will play out here.

The neighborhoods with the greatest relative increases are still in the highest demand and are likely to stay that way. Venice is still gentrifying and this process will take years to finish. Also, more affordable areas like Westchester, Palms, Mar Vista, and a few less expensive parts of Santa Monica are basically coastal communities which I feel are likely to hold onto their gained values... houses for around a million dollars and less close to the water are still a bargain any way you look at it.

Many of the more upscale areas including the Marina Peninsula, much of Santa Monica, and Pacific Palisades made more modest, but equally significant gains which I don't think are likely to be lost for the same reason. They just aren't making any more coastal land and the all these properties are part of the core L.A. Basin market which with the exception of other popular coastal communities generally enjoys much higher values than the rest of Metro L.A./Orange County... all things being equal.

Unfortunately, this is the catch. While the housing market has been booming on the Westside gains have been less spectacular in other parts of the country and the overall economy both here and abroad has remained weak according to many experts. However, I think that there are still a lot of home owners who have been sitting on the sidelines over the last five years who will have good reason to sell whatever happens.

(There's also the 'shadow inventory' of repossessed homes held by the banks to consider which could affect prices if they're dumped on the market too quickly.)
0 votes Thank Flag Link Fri Nov 15, 2013
I believe inventory will increase now that there has been some limited recovery of prices. I aslo believe prices will stabilize, especially as interest rates begin to creep back up to their more traditional values.
0 votes Thank Flag Link Fri Nov 15, 2013
No, I don't! By Spring the inventory should be increased in my professional opinion.
0 votes Thank Flag Link Fri Nov 15, 2013
Hi Mr. Pearl:

Yes...inventory of homes on the market has been low. When new listings come on the market that are priced appropriately, they sell very quickly, mostly with multiple offers...so the price may go up a bit.

However, if a home is overpriced, they sit on the market for extended time.

What is it that you are interested in achieving? Information? Listing a home for sale? Purchasing a home?

Feel free to contact me directly if I may be of service to you.

My web link is below.

All the best,

Kat Becker, Realtor
Berkshire Hathaway HomeServices
California Properties
(323) 819-4760
katbecker@hotmail.com
0 votes Thank Flag Link Fri Nov 15, 2013
Inventory throughout California is low and will certainly stay that way through the winter months. What happens in the spring of next year will depend on interest rates, government, jobs, etc.
0 votes Thank Flag Link Fri Nov 15, 2013
Hi,

The inventory in Los Angeles has been low for the past year or so.

It's hard to say if it will change drastically next year, but typically not as many people sell during the winter/holiday season, so there may be more homes coming on the market in January.

Feel free to contact me directly at (310) 717-1321 or JamieTian@RodeoRE.com with any further questions/concerns. I would also be happy to email you a complete list of the homes currently on the market that fit your search criteria and keep you updated regarding any new homes that come on the market.

Best,

Jamie Tian
Rodeo Realty Sunset Strip
(310) 717-1321
JamieTian@RodeoRE.com
BRE #01920120
Web Reference: Http://www.JamieTian.com
2 votes Thank Flag Link Fri Nov 15, 2013
Here in the west side, inventory is still low..however; I'm seeing more and more sellers entering.
If you'd like info/stats on a specific area, please feel free to shoot me an email with the area and any questions you may have. Happy to assist.
Best,
Susan Bo'ur
Realtor/Coldwell Banker
Susan@SusanBour.com
1 vote Thank Flag Link Fri Nov 15, 2013
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