La Crescenta & La Canada Seller’s Market and Your Property Value

August 15, 2017

Real Estate Trends in La Canada-La Crescenta, August 2017

The number one question my clients ask me is “when will these home prices start to come down?” The
simple answer impacts buyers for their purchasing power, and sellers for their home values. This hot
real estate market we’ve been experiencing in Los Angeles County seems to be continuing as demand
outpaces supply, setting record trends in home sales. Specifically, in La Canada-La Crescenta properties
are selling faster than ever, with a historic low of less than 1.5 months of housing inventory currently on
the market. Well-qualified house hunters and a steady stream of cash coming from abroad make for stiff
competition that’s not likely to go away soon in this desirable community. So, when will these home
prices start to come down? At some point, prices may level off when they begin to exceed buyers’
affordability, but there are no indicators we’re in an economic bubble that’s going to burst. Home
owners will most likely continue to enjoy increasing property values, while buyers should consult with
their realtor for strategies on submitting a winning offer. Buyers should also check with their mortgage
expert for creative loan options—for instance, a bridge loan or hard money loan to compete with all-
cash offers. Despite the challenges of getting your foot in the door of home ownership in Los Angeles
County, once you’re “in” you’ll be in great position for exceptional long-term return on investment.
Call me with questions or if you’d like additional information on home selling and buying strategies!

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