Is LA A Buyer’s Or Seller’s Market? What Are Your Opportunities?

LA A Buyer's Or Seller's Market

According to Zillow’s Housing Market report, Los Angeles County home sales prices averaged over $960,000 in August 2023. This is down slightly from the average price of over $970,000 in August 2022. Los Angeles area homes average over $600 per square foot in price.

But what does this mean for you, whether you’re interested in selling your home, buying a home, or both?

In a seller’s market, housing prices tend to be higher and homes will sell faster.

In a “buyer’s market,” home prices are typically a little lower, and homes stay on the market longer.

As of August/September 2023, Los Angeles is officially a “seller’s market,” and that’s been true for a long time.

Looking To Buy A Home In A Seller’s Market

When home prices were rising fast in Los Angeles during 2020 and 2021, some homes were selling for well above list price, and also selling for cash offers, shutting out people with mortgage financing. That’s no longer the case.

However, when you’re looking to buy a home for the best value, especially with higher mortgage interest rates, it’s important to choose the right home and the right neighborhood. If you’re a buyer in a seller’s market, as LA is right now, working with knowledgable professionals can help to steer you in the right direction.

Looking to Sell A Home In A Slowing Seller’s Market

LA’s real estate market could slow down as prices remain high along with interest rates. Even though home values and sales prices in Los Angeles are among the highest in the nation, it’s still important to work with experienced real estate pros who can help you to maximize the equity and value in your property. 

Some real estate experts say that one way to keep your home value high is to “win the beauty contest.” Homes with curb appeal that show well will always command a better price than those which need work or which have poorly-maintained yards. The knowledgable and caring staff at California Platinum Realty/California Platinum Loans can help you prepare your home for sale, list it, and sell it for the maximum value that you can obtain.

Sources

Kelly, Helena. “How To Sell a Home In A Declining Market: Realtors Share Best Tips,” Daily Mail,
Rocket Homes. “Los Angeles Housing Market Report: August 2023,” url: https://www.rockethomes.com/real-estate-trends/ca/los-angeles

Santarelli, Marco. “Los Angeles Housing Market: Prices, Trends, Forecast 2023,” Norada Real Estate Investments, 29 August 2023, url: https://www.noradarealestate.com/blog/los-angeles-real-estate-market/
 

California Platinum Loans

  https://californiaplatinumloans.com

Golden State’s Golden Opportunities: Navigating the Cali Home Buyer’s Dream

Navigating the Cali Home Buyer's Dream

Have you ever tried surfing the tumultuous waves of California’s real estate shores? You’ll know it’s not a sport for the faint-hearted if you have. But with California Platinum Loans by your side, even the gnarliest real estate waves can be a thrill! Here, we dive deep into the best first-time home buyer programs the Sunny State offers. Ready to hang ten on your home-buying journey? Let’s paddle in.

Catching the Equity Wave: The Forgivable Equity Builder Loan

If you’ve been dreaming of a 10% cruise down the home-buying lane, the Forgivable Equity Builder Loan might be your new surfboard. Live in your new home for a sunset-to-sunset span of five years, and voilà, this loan is forgiven. Think of it as a reward for staying put and soaking in the Californian sun. Perfect for those who want their cake and to eat it too—or, in Cali terms, those who want their surf and to ride it too.

Smooth Sailing with MyHome Assistance

Say goodbye to the pesky stingrays of closing costs and hefty down payments. The MyHome Assistance Program is like that trusted life jacket, ensuring you don’t drown in the initial costs. A deferred loan, you only need to repay when you decide to hop off your Californian ship, either selling, refinancing, or paying off that first mortgage. Just remember, while the Californian sun is endless, so is the interest on this one.

Zero Interest, Infinite Possibilities: The CalHFA Zero Interest Program

Let’s face it: in a state where avocados cost a pretty penny, the last thing you want is an accruing interest on your mortgage. Enter the CalHFA Zero Interest Program—a second mortgage that’s as chill as a Malibu breeze. Pay only what you borrowed, without a dime more in interest. Perfect for those who want to enjoy their guacamole without the added salt of interest.

The Californian real estate scene might seem like a crowded beach on a summer day. But with such programs, navigating becomes a delightful day out in the sun. Remember, every surfer needs a trusty surfboard—and California Platinum Loans aims to be just that. Whether you’re a newbie looking to ride your first wave or an expert waiting for the perfect tide, let’s make the Golden State genuinely golden for you. And always remember, there’s no wave too high when you’re riding with the best.

Happy home hunting, California! 🌞🏠🌊

California Platinum Loans

  https://californiaplatinumloans.com

Fed’s Finesse: Navigating the Seas of Inflation & the Job Market

Navigating the Seas of Inflation

As dawn breaks on the financial horizon, all eyes are set on the upcoming September 20th meeting of the Federal Reserve. Will they drop, stop, or take a brief intermission in their policy adjustments? With the market’s heartbeat echoing through mortgage-backed securities and the ever-watchful 10-year rates, it’s a day of cautious optimism. Let’s delve into what’s setting the rhythm of the market today.

Of Pause and Promises: Fed Leaders Speak

New York Fed president John Williams is humming the tune of a pause for the September 20th rendezvous, suggesting that our monetary policy already strikes a balanced chord. However, his lyrics leave room for future adjustments, hinging on upcoming data’s melody. Similarly, Dallas Fed president Laurie Logan hints at a possible pass this September. But if you think that means they’re hanging up their monetary hats for good, think again. Logan’s eyes are on the horizon, and more adjustments might be in the pipeline.

Inflation, Jobs, and the Dance of Numbers

While inflation’s tempo may have slowed, it’s still not matching the Fed’s ideal rhythm. Yet, the true crescendo of concern arises from the labor market. Upon a second glance, recent job reports reveal a symphony of revisions. Each month’s job figures are dwindling, causing concern among those who once rejoiced at their robustness. A sharp correction from 209,000 to 105,000 in June certainly raises an eyebrow. And with the unemployment rate currently at 3.8%, there’s a historical refrain to consider: recessions often follow when unemployment bottoms out and starts to climb, as past market cycles demonstrate. Could history be about to repeat its haunting refrain?

Charting the Future: Inflation Reports and Mortgage Movements

Prepare for a whirlwind week ahead! The CPI inflation report takes center stage next Wednesday, shedding light on economic fluctuations. Not to be overshadowed, the 30-year bond auction will also play its part, followed by Thursday’s performance by the Producer Price Index. And for the encore? Mortgage-backed securities are dancing upward, breaking past the 25-day average and hinting at future promise. However, whether this uptrend can break the cycle remains the cliffhanger.

California Platinum Loans invites you to stay tuned as we decode these market movements, always with an ear to the ground and an eye on opportunity. As the saying goes, “Economists predict the future – and they’re right, one out of every recession.” But with knowledge as our compass, we’re prepared to navigate even the most turbulent financial seas.

California Platinum Loans

  https://californiaplatinumloans.com