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WILL L.A.’S REAL ESTATE BUBBLE BURST?
No. Because there isn’t one. There’s just too much demand and no room to build new houses, and unfortunately for buyers, none of that is going to change.
As everyone knows, the housing market in Southern California has gone through the roof. According to the California Association of Realtors, the median price of Los Angeles County homes has increased 24% over the last year. Since 1969, home prices in California have appreciated an average of 8.3% per year. These days, they can go up almost that much in a month. For buyers, it is not uncommon to hear of houses selling for $25,000 to $50,000 or more over asking price. The reason is simple…Record low interest rates are attracting buyers in record numbers and there’s much more demand than supply. It’s a seller’s market – perhaps like never before seen in Southern California. And no one knows when, or even if, it will ever let up.
Now is the time to act if you are interested in buying a home. Prices continue to rise and rates remain at the lowest they’ve been in decades. Contact a real estate agent and a lender so they can begin the process of helping you find the home of your dreams!
Browse the Article Library
- Donna has put together a collection of articles designed with her clients in mind. Here you will find information on everything you might need before, during and after the home buying or selling process.
- Some of the more popular titles include information on doing a 1031 exchange to save on taxes, ways to fix up your home that will protect your investment, and the Top 10 Mistakes that Sellers Make. Have fun browsing!
- Should you have an idea for an article, or would like to recommend an article for inclusion that you have seen elsewhere, please contact Donna.
About Donna Baker
- Director of Heritage Homes, Dickson Podley Realtors
- Serving Monrovia, Duarte, Sierra Madre, Arcadia, Pasadena, and the entire San Gabriel Valley
- Representing Sellers and Buyers of all types of real estate with a specialty in vintage and character homes, as well as residential income properties.
- Watch a video about Donna