Home Buying in Los Angeles>Question Details

Anthony Perez, Real Estate Pro in Northridge, CA

What's up with today's market?

Asked by Anthony Perez, Northridge, CA Thu Jan 3, 2013

Wheres' the action? What can we expect? Where do you think we'll be in two years?

Help the community by answering this question:


There is a huge increase of rental demand in markets that include Florida, California and Tuckson, Arizona by 25% over last year.
Home sales also remain at historically strong levels, which reflect the demand that is driving prices higher.
Rising rents, new job opportunities and low mortgage rates have change the perspective of buyers to urgent.

Best of Luck,

Maria Cipollone
Century 21 Tenace

3 votes Thank Flag Link Fri Jan 4, 2013
So things are finally looking up....somewhat. Good.
Flag Fri Jan 4, 2013
I believe in strong market in California!!!
Many sales, prices going up!

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1 vote Thank Flag Link Fri Jan 4, 2013
No doubt the action is in North Dakota with less than 3% unemployment and long hauling truckers getting hustled right off the street to drive fracking water trucks. My manufactured home hauler here in San Diego delivered a home in ND two years ago and still hasn't come back. He now owns 5 water trucks and thinks he'll be leaving ND with about 5 million.

If you're a contractor with that many classifications and that much experience I'd be hi tailing it up there if you really want some action. I've been a GC and manufactured home contractor in Cali for 25 years and have been through a few economic cycles as well but I'm pretty busy with my RE brokerage and development biz and have no desire to leave Cali anytime soon.

My truck driving buddy said that they're hiring anybody that can fog a mirror. So with your skills you'd probably be able to just show up with your work truck, strap on your tool belt and get busy. Just thought I'd pass it along
1 vote Thank Flag Link Fri Jan 4, 2013
Cash buyers seem to be mostly Chinese, they are keeping demand high in many areas, but my belief is that is not for the long term
0 votes Thank Flag Link Fri Jan 4, 2013
They seem to be in every market.
Flag Fri Jan 4, 2013
This statement is silly and harmful.
Flag Fri Jan 4, 2013
The primary housing markets California are red hot with buyer demand. Interest rates are not making a huge difference for many of my buyers as they're coming in with all cash or almost all cash. Since interest rates are continuing to fall in the short term of 6-12 months from additional monetary accommodation, that will act as a further stimulus for those able to compete with financed offers.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Fri Jan 4, 2013
Flag Fri Jan 4, 2013
Buy! Buy! Buy!
As soon as interest rates go up (and they will, the government can't sustain buying down the rate) your buying power will drop significantly. The mortgage deduction will not go away. Home values will stabilize and remain flat for a while, but long term over 5 years, prices will go up.
0 votes Thank Flag Link Fri Jan 4, 2013
Predictions are very difficult....especially about the future.
0 votes Thank Flag Link Fri Jan 4, 2013
I'm also a 23 year licensed contractor in 5 classes that has been re-building my contracting business for the last 2 years and have not been active in the real estate....that said I am simply asking for a general low down and wanted some friendly input....be nice folks. Just asking whatthe market is and what it will be. Be kind.
0 votes Thank Flag Link Thu Jan 3, 2013
Anthony you are an agent correct? Check out webinars your association things of that nature to make yourself relevant in your market place.

Good luck
Katherine johnson
0 votes Thank Flag Link Thu Jan 3, 2013
Yeah Katrine I'm an agent but have not been active with RE for 2 years because I'm also a 23 year contractor in 5 classes that has been busy putting my efforts into re-building my contracting business since the GREAT recession, I have passed the torch to my son and am ready to be involved with my RE....that said can you give me the low down in general? Or give me some ideas? Or be a little helpful? If you like to know a little about designing and building homes, pools or places of commercial business I can give you some low down.
Flag Thu Jan 3, 2013
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