Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Sherman Oaks and other L.A. areas too. General news and musings as well.
Tuesday, January 24, 2012
I predict the short-term future of the local real estate market
Although I don't have a crystal ball, I think we're in for a strong first and second yearly quarters, as far as San Fernando Valley and Los Angeles real estate goes. Why do I say that? It appears that buyers are coming out of the woodwork. There's a nexus right now between low interest rates and lower-than-in-recent-memory home prices and short inventory. Everything is going into multiple offers. There are lots of cash buyers out there. Plus, I think that potential buyers may just be tired of sitting on their hands and may be feeling a little more confident than they have in the recent past. I wouldn't be surprised to see prices go up before the summer. We'll see...