Dear Friends and Colleagues, The month of August for real estate was as anticipated. Activity started to drop as parents start to get their kids ready for the school year. We should expect a slight uptick in activity just after Labor Day and then a steady slowing into the New Year. Property values are still showing strength with another record month in July for many areas. Review our Buyers and Sellers ADVICE section to best position yourself in this transitioning market. Please continue sending us topics of interest so we can cover them in future newsletters. Thank you for reading!
School is back in session so many buyers have slowed down their search for the month of August. The Market starts to pick up again after Labor Day and slows down through the Holidays. This could be either the best or worst time to put your property on the market. Demand is down during this time, but supply is also usually less than the more active months. It all comes back to the supply and demand ratio of homes similar to yours. If you are priced and marketed correctly, and you don’t have a lot of competition, this is an advantageous time to consider selling from a timing perspective.
Great news for Sellers - prices were up again in July hitting another record high in many areas. It’s been a great 6 years for sellers. None stop price appreciation. This unfortunately, will not last forever. Many believe the market will need to slow down to a more healthy price appreciation rate of 1-3% annually. We have been in a very strong sellers market for a long time but we are starting to see that change.
If you are considering selling but aren’t sure where to start, give us a call for a FREE phone or in home consultation to go over all your options. 310.573.8670 - Dennis@DennisAdelpour.com
Advice for Buyers
Demand for homes should start to tailor off through the end of the year. This is a great time to get aggressive about finding a home. With the smaller demand, you should also expect less supply of homes.
With the market at record highs, this is the most important time to make sure you don’t overpay and get caught in an emotional multiple offer situation with an attitude that you “can’t live without this property.” Although real estate has historically gone up over time, you want to buy at market value or below to give yourself a buffer should the market slow down or turn in coming years. Current momentum is still pushing values up, however.
One method we have found to get our clients homes at or below market is by going after off market opportunities. Through our channels of finding ready and willing sellers off market - we are typically able to identify 3-10 off market opportunities to look at depending on the type of home we are looking for. When inventory is low, we create inventory for our buyers.
Connect with us to help you find off market properties through our proven strategies. 310.573.8670 - Dennis@DennisAdelpour.com
INSPIRATION
There Is No Such Thing As Overnight Success "The next time you see someone successful, don't focus on what they are doing now, focus on what they did to get there."
267 San Pedro St #607 The Adelpour Team called the owners of this Penthouse directly, presented our clients all cash offer, and got our buyers a sweet deal and a new penthouse!
CALL US TO LEARN MORE ABOUT HOW WE CAN ACHIEVE THESE RESULTS FOR YOU! (310) 573.8670
