The month of November was consistent with previous years. Inventory and Sales are on the lower side this month as is expected but sellers and buyers areclosely monitoring the proposed new tax reform which has caused hesitation for some buyers. Great news is that interest rates are still very low and goodopportunities are still out there. 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!
The market is doing what it always does during this time - Inventory is very low, less buyers are looking and prices are staying relatively flat. On top of that, a lot of buyers and sellers are closely monitoring the proposed Tax Bill changes that will have a direct effect on the real estate market, especially the limits on property tax and mortgage interest deductions. If these measures pass, the affordability factor for home purchases will definitely decrease, but I don’t think it will be enough to make the LA market decline. There is just way too much money and demand for homes here in LA at this time. Only time will tell.
As a seller, if you are on the market now, you should consider taking it off the market before Christmas time and come back to market fresh with a new look in the new year, especially if you have not received any offers. Many buyers are on standby right now, waiting to hear what’s going to happen with the proposed tax bills before making a move.
If you are sensing the market slowing right now, it’s a function of the time of year, as well as the uncertainty surrounding the possible changes mentioned above. Have a plan and stick to your plan. The fundamentals of the market have not changed.
If you are considering selling but aren’t sure where to start, give us a call for a FREE in home consultation to go over all your options. Dennis@DennisAdelpour.com - 310.573.8670
Advice for Buyers
I have not said this in a long time, but it’s a great to be a buyer right now. Interest rates are still very low and historically speaking, this is the time of the year that buyers should expect to get the best deal. Be aggressive with properties that have been on the market for 60 days or more. Make an offer that makes sense for you and see if the seller will accept. You never know. This is where an experienced negotiator becomes critical. Don’t low ball and try to meet in the middle. There is a specific way to negotiate a great deal and writing low ball offers isn’t going to work in this market. If anything, you may offend the seller which will close off all future negotiations for you. Make sure you know the comps and make a good argument for your price.
Your best bet is still off market properties. There are many sellers out there, even if their properties are not on the market. We have ways of identifying these off market sellers for our buyers. I can’t say this enough - LOOK OFF MARKET! It takes money and hustle from your realtor to find these opportunities, but they are out there. Send us an email with what you are looking for and there is a good chance we have a few off market opportunities we can show you now!
Connect with us to help you find off market properties through our proven strategies. Dennis@DennisAdelpour.com - 310.573.8670
INSPIRATION
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Beautifully updated 4 Bedroom + Den, 3 Bathroom, Two story single family home for sale in prime Beverly Hills Adj. neighborhood. Centrally located in the heart of Pico Robertson. Walking distance to schools, restaurants, shops and places of worship! Home features new appliances, granite counter tops, Kosher style kitchen, new Canadian maple hardwood floors throughout, central HVAC, new windows, new exterior and interior paint, washer/dryer and ample closet/storage space. Lavish master bedroom includes a fireplace and high vaulted ceilings!
Our Team has Access to the Following OFF MARKET opportunities.
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If you are looking, please email our team your criteria and we will let you know if your needs fit one of our opportunities. Team@DennisAdelpour.com.
