L.A. real estate news and insights.
Although right now is typically a slow period in real estate, I am predicting a hot real estate market for the 4th quarter of 2019.
The reason is that buyers have been experiencing heavy competition for the last several months, have had their offers rejected, but are still very motivated to buy a home.
All those buyers that have not had any luck lately will be hungry and ready to pounce on any new listings that come up.
That should make for an interesting end to the year.
The 4th quarter of the year (October, November, December) is usually when home sales are the slowest.
The reason is that everyone is busy with the holidays that come up during those months.
A buyer may put their home search on hold because they are having their family stay at their home for #Thanksgiving.
Or maybe it's more important to a home buyer to go to all the holiday parties instead of focusing on finding a home.
No matter what the reason is, the 4th quarter is typically the slowest time of the year in real estate.
Having said that, the real motivated buyers and sellers are still out there trying to make a deal happen.
Some of the best deals I have seen have gone down during the holiday season.
On this episode, I answer the following four real estate questions:
1) At what point during the year are home sales usually the slowest?
2) Now that we found a buyer for my home and we are in escrow, is it safe for us to start moving out?
3) A lot of the homes I am touring are selling for more than the list price. How am I supposed to buy a property if everything I am interested in keeps selling over the asking price?
4) I do not want to spend a dime on staging my home. What other options are out there to make my home look more attractive to buyers?
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One in five U.S. homeowners say they feel house rich but cash poor, according to the newly released Hometap Homeownership Study.
With home prices continuing to climb up, nearly 20% of 675 homeowners surveyed classify themselves as feeling “house rich, cash poor” most of the time, according to the study produced by Hometap.
Seventy-three percent of respondents say they feel “house rich, cash poor” at least some of the time.
I bet if they surveyed renters they would find similar numbers.
I believe we all face similar challenges.
After all, I think being worried about how you are going to provide shelter and food for your family is a feeling all humans have had since the cavemen times. @hometap_
I highly recommend doing a standard recording.
In that case, you don't have to do anything!
You are simply waiting for a call from your agent to tell you that you now officially own the property.
A special recording should only really be used in an absolute must circumstance.
Unless it's a must, it won't kill you to wait the extra day to close escrow.
