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Real Estate Newsletter

DECEMBER NEWSLETTER

Dear Friends and Colleagues,

On behalf of The Adelpour Group, we would like to wish you and your family a wonderful New Year filled with success and happiness! While it was an interesting year, it was also a record breaking year for The Adelpour Group. Without the continued support of our amazing clients this would not have been possible. Thank you to our whole team and amazing clients. Cheers to you and your family. May the new year bring good health and wellness. 

How is the market closing in 2021? Well, the Los Angeles Real Estate Market has slowed a bit entering the holiday season but prices have continued to reach new highs! In Los Angeles County, the median home price rose 12.6% from the previous year to $788,000. Initial jobless claims across the U.S. dropped below 200,000 this week. Interest rates are slightly higher this month at 3.27% and equities have reached off the record highs. 

The Adelpour Group is kicking off 2022 featuring several upcoming new and distinctive residential properties coming to market. If you sign up for our monthly “Market Update,” you will have access to “Coming Soon” properties for sale, review the “Buyer's and Seller's Advice” section, and enjoy the statistics and lead indicator forecasts for the real estate sector. Please continue sending us topics of interest so we can cover them in upcoming newsletters. We look forward to hearing from you and thank you for reading!

MONTHLY UPDATE

The LA real estate market is showing some signs of cooling, but the buying experience is still very competitive. The region’s six-county median sales price climbed to a record high of $693,500 in November compared to a year earlier. 
Specifically in Los Angeles County, the median home price rose 12.6% from a year earlier to $788,000. November home prices hovered below the record levels reached in September and October, but they were significantly higher than in November 2020.

The region’s six-county median sales price reached an all-time high of $693,500 which is 0.5% higher than in the previous month, October. Sales rose 1.8% from that year-earlier period. 

As the months of November and December are in the deep holiday season, it is normal for inventory levels to dwindle thus decreasing number of sales. The demand from first-time home buyers is still strong, as many would like to purchase before the possible rate hikes that have been mentioned. 

Some economists expect home price appreciation will slow to single digits next year, in part because they expect mortgage rates will rise. That could be more likely to happen after the Federal Reserve announced they are planningto hike the federal funds interest rate three times next year. We have seen these promises before, only time will tell what the Federal Reserve will end up moving forward with. 

The stock market has seen a lot of shedding in the month of December as worries of Covid and end of the year tax-loss harvesting took place. With that said, The S&P 500 hit a record recently, showing continued strength in the market. Inflation and Omicron are the two most important catalysts for the stock market right now and these topics are to be watched with detail to see where we are headed! 

2021 has been a year of records in the real estate and stock market, but it is always important to stay on the look-out for what is to come. As we go through cycles in the market, real estate has always shown to be a great hedge against inflation. 2022 should be no different, but it may be the year of a soft slow-down, allowing more buyers to take advantage. 

ADVICE FOR SELLERS

Sellers continue to hold the power in this market...for now at least! As inventory continues to be on the lower end heading into 2022, Sellers must continue to be understanding of market conditions and what they must do to achieve top dollar! 

Single family homes in addition to condos with great amenities are continuing to be the hot topic of the market. These pieces of real estate that have the outdoor space and have been well-kept will be highly noticed by buyers on the market. Multiple offer scenarios continue to occur in this market, but this does mean to do the bare minimum for your property. A small investment such as painting or yard work, will dramatically pay dividends down the road.  

As we are now in the holiday months and the weather has changed, appealing to buyers in all weather conditions is key for your marketing. Cozy features such as fireplaces, heated floors and a winterized garage are top of mind for winter buyers. Be sure to highlight those features in your photographs and listing descriptions. Having the right curb appeal is more important than ever as many buyers will first look at your photographs online before deciding to leave the comfort of their home in this weather to see your home on the market. 

Properties priced within the broader reach of buyers will always have the most number eyes on them. With many eyes come a lot of opinion! Take the time to freshen-up every aspect of your property! We have had a lot of success upgrading properties for sellers quickly to make them look beautiful so they can get the highest price possible.  Call us to learn more about how you may be able to take advantage of these record prices as a Seller. 

 

 

ADVICE FOR BUYERS

Buyers are continuing to feel the burn even in these winter months with multiple offer situations in the hot markets. Many buyers have come to a fork in the road not sure whether they should settle with a home that does not check all the boxes or continue their search, possibly waiting too long and risking interest rate hikes. 

For buyers that have been looking for a long time, the best way to secure a home is to think of the bigger picture, in all respects. Many homes if not all, will have some drawbacks.  Maybe the home isn't perfect when you move in, but over time you can spend some money for upgrades or addons to really make it perfect! Thinking long term will always prevail especially in a market where you can not be too picky. 

Off Market Opportunities have been huge for The Adelpour Group in 2021. Connecting our buyers to properties not listed on the MLS has shown time and time again that there is always a deal to be made when the right pieces are out there! Contact us to learn more about our current Off Market Opportunities and how our process has helped many buyers find their dream home in this competitive market!   

Thank you to all who have supported and trusted us with your business in 2021, a record-breaking year for The Adelpour Group! We wish you a happy, healthy, and prosperous year to come in 2022! 

 

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