May opens and I’m reminded of the permanent bond and distance between Los Angeles and New York City. Opposite coasts and yet kindred spirits, different weather and yet same energetic pursuits. I was in New York last week to speak at the Inman Conference, where real estate companies from across the USA join in a think tank setting to share best ideas and learn new methods to serve our clients better. If clients knew what thought goes into creating a better marketplace for selling real estate more efficiently and broadly, as seen at a national conference like Inman, they would feel more confident in the resources available to their select agent.
While in New York, I toured the dramatic 45th floor residence I sold in partnership with my NY colleagues at 111 W 57th Street, known as The Steinway Bldg (see image below). Looking across Central Park from a helicopter view reminds anyone of the beauty and power of New York.
Back here in Southern California, the number of pending home sales has declined for the 6th month in a row. At same time, sales prices have remained constant and demand is at an all-time high. Less homes are being sold because there aren’t enough to satisfy demand -- not necessarily because of rising mortgage rates or stock market volatility. Those factors do play a part, but until there is more available inventory, or interest rates rise to ridiculous heights, the buying spree will continue, forecasters predict.
Our team is delighted to be launching numerous homes around LA during May, some are historic estates, classic Hollywood settings, a suburban setting with over 4 acres of grounds, and city homes in convenient locations near walk districts for retail or entertainment. We’re doing our part to satisfy demand -- come see us!
-Ernie