Happy Fourth of July…and then some!
Backyard BBQs, days at the beach, a four-day holiday weekend, and some flag waving highlight this time of year. I want to wish each of you a very Happy Fourth! Let’s not forget the rest of 2017, we are half-way through it already…. hard to believe.
For many, it is, indeed a happy holiday particularly for the majority of those whose homes have sold this year. In Los Angeles, the median sales price is now $560,000 vs. $550,000 10 years ago, rising 6.8% over this time last year. It is the highest it has been in a decade (although 11% less needs to be adjusted for inflation). According to the National Association of Realtors, it is not surprising that 71% of homeowners believe it is a good time to sell. At the end of the day, though, it goes back to the law of supply and demand. Right now, demand is up. We just need to work on supply
Everywhere you look, there are disruptions and shifts taking place in major industries that impact all of us — especially in technology and retail. Amazon potentially purchases Whole Foods and the food industry stocks zoom downward…robotics threaten future jobs in trucking and manufacturing. We are in a changing world! As a mentor at Coldwell Banker, I see these changes and in training new licensees, I also realize you have to constantly re-invent yourself and stay ahead of the game. But in some ways, hasn’t it always been that way? The more things change, the more they stay the same. The art of selling real estate has greatly been impacted by the huge impact of technology and the access that everyone has to that famous “information highway”. Did you know that based on their ability to shop on line approximately 95% of potential buyers have already decided as which house they want to see, and most likely buy or lease before they even get in their car to see the house!?! Given this information, it is even more critical to work with an experienced agent who knows the whys and wherefores of the real estate market today. I look forward to being that experienced agent you select to work with in either the buying, selling, or leasing real estate.
Please check out my web site for more information on my two lease listings, Please do not forget that I am here for you for all of your real estate needs.