We are seeing a very different market than what we were experiencing even four months ago. Interest rates are up and down. Today rates are just under 7% making it very challenging to get into that home that you might have been able to afford just a few months ago. In order to get a foot hold in this market, buyers and sellers need to be creative and think outside the box. Reach out to hear some of my ideas for new homebuyers and investors.
Home Buyers: First time home buyers are challenged by the current values, interest rates and monthly payments. Before you get discouraged, talk to your lender. There are plenty of creative financing options that can help get around these high interest rates and make your dream of buying a home a reality. If you don't have a lender, let me know and I'll put you in touch with a great one.
Home Sellers: Home prices in Los Angeles county are holding strong even with the increase in interest rates. The average home price in Los Angeles is still up from a year ago and sellers are still enjoying multiple offers over asking. The reason for this...Los Angeles is the most populated county in the United States, so there's that. Also home owners who are locked into the "Rates of the Good Ol' Days" aren't going anywhere, keeping inventory low, and home prices high. The market will most likely continue to cool with low inventory over the next few months.
Notary Public: In other news I am now a commissioned Notary Public. If you or your business needs documents notarized, you have my contact information. Use it!
Election Day: I had the honor and pleasure of working on a committee to elect George Barks who ran for California State Assembly in my district. It was a very fulfilling experience and I highly recommend getting involved in local politics for the next election. I experienced what it takes to be elected in the South Bay Los Angeles district. It was both enlightening and exciting. Congratulations to Al Muratsuchi who held onto the seat for State Assembly District 66 - South Bay Los Angeles! Looking forward to seeing what he does with the next term.
Keep in touch. I'm here to answer your questions. You can email me at JessiqaPaceRealtor@gmail.com with questions about the market, real estate or what it takes to be a new agent in today’s market. I’m happy to answer all your questions.
Sincerely,
Jessiqa
