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Is the LA Real Estate Market Stagnant?

The real estate market is stagnant. When it comes to the number of sales there’s virtually no difference this year than it was last year and last year boasted the lowest of amount of sales since 1995! Even 2008, 2009, and 2010 had more sales. Additionally the prices are even higher right now! 

I recently assisted a seller in setting the record price in his townhome community meaning we sold the property for more than what It was worth! For a free report on how to sell your home for more than what it’ worth, shoot me a text to 310-237-9749

So what does this mean for you? Well for a buyer or investor, it means no more free lunches, gone are the days of searching Zillow to find a home or deals. You’re going to have to do the work to find the ideal first home or investment property to purchase. Do you want to know the top 10 days find deals off-market? If yes, then reach out to me mark@markkingrestate.com

For a seller who is considering selling, it means the time is now. Who knows how long record prices will last! If you want to know what’s your home is worth then call or text me @310-237-8749.

So how will things change?

I’m not sure but a lot of people think builders can solve this entire inventory problem. New homes being built is always a good sign, but let’s get real. How much more can you really build in Los Angeles county It’s already condensed in most neighborhoods, unless you’re building up like NYC I don’t see it.

I think the best way to increase inventory would be to offer sellers incentives to sell. If the government were to, for a limited time to, exempt all taxes on a property that resulted from the sale (capital gains tax, transfer tax etc etc.) homes would hit the market harder than Mike Tyson in his prime. We all know this will never happen.

What does this market mean for an investor? It means your traditional strategies won’t work, you need a new way to find good deals that cash flow. For more information on how to find deals in Los Angeles that actually make you money then call me @310-237-8749.

-Mark King

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