Yesterday, I listened as a soon-to-be-dad spoke about saving money to purchase a new home for his growing family. A challenging but lofty and worthy goal to be sure. The pre-recession years were filled with spiraling housing costs and many young families were forced to take a seat on the fence and wait for sanity to reclaim the house prices in Los Angeles. Many felt they were stuck between two decisions and neither one was palatable. They could stay put in a rental or condo, or they could move inland and extend their commute by an hour or two each way.
Then along came the Great Recession. After years of waiting for the realization of what they were beginning to think might be their impossible dream, home prices had a head-on collision with an economy losing steam, a banking industry in disarray and housing prices started marching south.
Years passes and as the inflated air drained from the local housing scene, color, tinged by that powerful aphrodisiac we know as hope returned to many a first time (and seasoned) buyer’s face. Today, after much pain and suffering, the housing landscape in the Greater Los Angeles Area is filled with opportunities.
These opportunities to finally receive the long-awaited keys to a first home, a move-up home, investment property, second home or retirement villa are much more attainable as we begin our trek through 2012. Prices are down, loans are easier to obtain, interest rates are the lowest I’ve seen in my 20 plus year career, and if I’m not mistaken, there is a new level of hope and determination to make 2012 the year buyers add a new key or two to their keyring.
Sell Smart, Buy Wise and Live Well
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
PalosVerdesLifestyle- Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Chosen by MovingCost.com as one of the best Los Angeles realty blogs. Awarded 5 out of 5 stars by Lender411 blog review. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.
South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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- leaving one breathless but exhilarated.
Crest neighborhood