California’s housing is seeing extreme price appreciation due to historically low-interest rates driving sales, and low inventory. A basic supply and demand equation. The active listing inventory is half of what it was last year. Well priced properties receive multiple offers within days.
Buyers, sellers, and agents have to be careful in putting transactions together. Over 35% of the escrows opened are not closing, and the property going back on the market. That can be caused by many elements like inspection findings, appraisal issues, or cold feet. Sellers may not be as receptive to negotiating out of issues as they would if the market was more balanced.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me
Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth
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