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Market Conditions in Marina del Rey : Real Estate Advice

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  • Home Buying20
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Activity 3
Sat Sep 24, 2016
Gail Mercedes Cole answered:
Since 2015 there has been a scarcity of properties on the market. More buyer's demand than housing inventory. With low interest rates and housing scarcity home values have appreciated. September 2016 noticing more inventory, listings on market longer and asking price reductions. The market maybe leveling off or correcting. Buyers always want to see most recent listing. In addition, consider listings that have been on market for some time. Those sellers maybe receptive to reasonable offer. Active buyers should have current active and daily updates. ... more
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Tue Feb 11, 2014
Gail Mercedes Cole answered:
Adam,

The depressed market in Marina del Rey, Venice and Playa Vista was 2008-end of 2012. 2013 saw an appreciation of 20%-25% depending on the community. Reasons reduction of short sales, foreclosures and a shortage of properties on the market. The summer of 2013 was multiple offers on properties. Some properties went above their asking prices. Prices have appreciated but seem to be stabilizing and properties are staying on the market long. Prices are not dropping but staying level. Check with lender for rates and terms. for qualification. Lending practices in my opinion is not effecting home values.

Marina del Rey and Playa Vista have a density of condominiums and townhouses. In Marina del Rey the majority are older average 30-35 years olds. In Playa Vista home age average about 6 years. Venice is single home density. This is a good time to buyer but prices do not appear to be going down. Of course, in this economy anything can happen but housing market is recovering. If considering buying take advantage of mortgage interest rates under 05%. Any questions do not hesitate calling.

Gail Mercedes Cole
310.853.9933
Your Westside Homes
http://yourwestsidehomes.com/
... more
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Mon May 19, 2008
Dorene Slavitz answered:
You are referring to the New Condo Developments on Glencoe I believe. The development is quite dense, however, the Condo's themselves are very nice. If you like community living and being close to beaches and the Marina you would most likely love them. ... more
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