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Lions and Tigers and Bidding Wars, Oh My!!! – What you need to know about the LA housing market at this moment

Jun 11, 2012

What is happening in the Housing Market as a whole is completely different from what’s happening in Los Angeles. If you had the chance to pick up the Sunday LA Times there is an article on the front page reiterating everything I’ve been telling my clients for months! The days of scoring a deal on a home are gone. Buying a home now is still a great investment as housing prices just continue to rise in our area.

The problem: Low Inventory + Tons of Investors & Buyers = Bidding Wars

In this market you almost need to pounce on pocket listings or properties before they enter the market on the MLS. Inventory is hitting lows we have not seen in 6 years!! The average days on the market in SoCal is 33 days. In prime areas where homes are priced right they are going into escrow in less than a week and most properties are going for well over asking! If you are searching to buy in this market you may want to edit your price point 25-50k less just so you have room to go higher if you find your perfect home. Keep in mind, you will need enough money to make up the difference between what you offered and what the appraisal comes in at.

Interest rates are also low which helps to stabilize the market. This is a prime time to sell, if you have been thinking about it but putting it off due to the market. Chances are, if your property is priced right, it will sell very quickly and you might even get more than you had originally thought!

“We’ve even seen fewer borrowers defaulting on their mortgages and banks seem to have a handle on the foreclosures they do have. In addition to this, professional investors bankrolled by private equity firms and hedge funds are swooping up the bank owned home, fixing them up for resale or simply turning them into rentals.”-LA Times

I have access to thousands of agents who might have a listing perfect for you that has not yet hit the market. I can also offer a few valuable tips to get your offers noticed above the competition.

On the other hand, if you are considering selling, contact me and we can go over the comparable properties and discuss what your property is worth. If this is a route you would like to take, I would be happy to assist.

If you have questions regarding the market in your particular area, please contact Brittany at 310.956.9385 or visit the website for additional information.

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Brittany Sells LA

SOLD: Spacious traditional in the red hot North Hollywood neighborhood

06 May, 2021

5648 Irvine Avenue, North Hollywood, CA 91601 Represented buyer – Sold for $ 1,165,000 – ($14k under asking!) 3 Bedrooms | 3 bathrooms | 2,302 sq.ft. MLS # SR20203879CN

Celebrating 10 Years

06 May, 2021

Wow! 10 years! When I first embarked on this journey I had NO idea I would fall so hard for this career. I couldn’t fathom the places it would take me, the amazingly wonderful people I would meet ♥️ and the opportunities it has afforded me. I never imagined this career would be so rewarding or fulfilling. It’s what keeps me going. What makes me feel alive. My one, true love. Most Realtors change offices many, many times over. I have remained true and loyal to the company which gives back so much. Keller Williams Los Feliz is my family. It’s the place I have made some of my first and best friends. Where I sold my first house where so many memories have been made. I wouldn’t be where I am without the support of this office and the people I’ve met along this incredible journey. I am eternally grateful. I have to send a huge shout out to my amazingly wonderful mom. She never stopped believing in me and encouraging my dreams. Thank you to Gary Reavis for being such an inspiration and ally in my life and career. You helped make this super fun and contributed to so many of my wins! To my amazing mentor when I was a weeee young clueless Realtor, Kenya Reeves-Costa (and for giving me the BrittanySellsLA branding idea). To our new team leader, Brock Worthen for continuing to inspire, cheer, and root for all your agent’s successes. I know I didn’t win an Oscar or a Grammy here, but making it 10 years in a cut throat industry is an accomplishment worthy of thanks and honorable mentions. I didn’t get here on my own. So here’s to the next 10 years. To the highs. To the lows. To the lives I am blessed to change and to all the remarkable people I have yet to meet. Perhaps the biggest thank you of all goes to each and every one of my sweet clients who trusted me over the past 10 years to find them their American Dream! It was a huge honor. Love you all and thank you for your continued referrals. I wouldn’t be here without YOU! Sincerely, Brittany Walter

JUST SOLD! Closed in 17 DAYS: Remodeled Valley Townhome

19 Feb, 2021

8801 Cedros Avenue #25, Panorama City, CA 91402 Represented buyer – SOLD FOR $457,000 2 Bedrooms | 3 bathrooms | 1,476 sq.ft. MLS #SR21019913CN Our first day out in this insanely competitive market my clients fell in love (the wet bar sold them!). We beat out 9 other offers to secure their very first offer, ever on this charming Valley townhome. The kicker, my lender was able to close the deal in 17 days for my clients. 17 days! This place is so light and bright and even has a skylight! The new owners are over the moon.

Sold: Prestigious Del Amo Woods home

27 Jan, 2021

23917 Pasatiempo LN, Harbor City, CA 90710 Represented Buyer 4 Bedroom | 3 bath | 2,354 sq.ft. | 7,056 sq.ft. lot | Sold for $820,000 MLS #DW20244732MR My client had been looking for a home for FOUR years with another agent, but when she contacted me last summer – we got to work! In just a few months we saw upwards of 100 homes until we finally found the one. Even better, I was able to negotiate a $30,000 credit!