As the 2nd half of 2021 gets underway, change is afoot all over Los Angeles, in every sector. Businesses re-opening that have been closed, restaurants bustling once again with difficulty in finding staff, professional offices at “half-mast” with many workers continuing to work remotely, and medical offices maintaining the Pandemic regulations of required masking and health protocols. Now, the Variant looms and questions remain about masking in group settings until more is known.
And yet- we feel a sense of relief, that something is familiar about the returning traffic jams and full reservations at our favorite haunts.
How is this affecting residential real estate? Exactly as the opening paragraph describes the rest of our working city --- hit or miss. If you believe the news headlines -- every house should be instantly sold and buyers are paying over list price for anything that comes on market. Not true -- be sure to read the fine print in those articles. Each neighborhood has an independent activity barometer. The same is true for each price category. The only sure thing to bet -- if a property is priced between $1.2M up to $3M, it likely will be a hot commodity anywhere in town. Prices above those require more analysis and careful research. There remain many over-priced homes on the market that are unsold and sitting. Buyers still hold the cards with demand and Sellers who understand how it works are succeeding by price-tuning to the market.
Our team has never been busier! Our first 2 quarters were record setting for us and we grew in agents and volume. We have expanded our team footprint to Orange County with 3 of our pros based there and actively selling. Please call me if we can support you during these uncertain but exciting times. We have 3 decades of experience in all market settings and would love to share our expertise.
-Ernie
