Back To School Deals?

As summer winds down and families prepare for the upcoming school year, August normally signals the end of real estate’s busiest season. Here in Southern California, there are still deals to be had for buyers who didn’t close on a home during the summer. 

While sellers are not seeing a lot of competition yet, homes are still falling out of escrow at a higher rate than earlier this year due to growing uncertainty and pessimism regarding the market (and oftentimes buyer's remorse after acting too quickly). Still, trying to sell a home before winter approaches remains a good strategy, and right now there are more buyers than homes on the market, which is a positive for anyone trying to sell a property.

Buyers seeking deals might benefit right now because many others are waiting on the sidelines. For one thing, interest rates have dropped steadily for the past few weeks, from a high of 5.81% to below 5%, sparking increased activity in refinances and home purchases. In this market, it is especially important to rely on trusted and experienced agents to get the best deal regardless of budget. Please feel free to contact us with any real estate questions you may have and thoroughly enjoy the rest of your summer.

Best,

Introducing New Team Member Jane Lee

Help us welcome Jane Lee to the Highland Premiere Team! Jane is a native Angelino, and here’s her story of how she came to Highland Premiere, in her own words:

"I grew up in Los Angeles, attended the University of California, Santa Cruz, moved back to LA, and ultimately settled in Culver City with my two boys. Before working in real estate, I ran my own retail business with nine locations with more than 100 employees. 

I lean on what I learned as an entrepreneur to think outside the box in this competitive real estate market. I understand buying and selling a home is a very important financial decision. That’s why I am always available to answer client questions — day or night. 

When I’m not working with clients or navigating real estate deals, I enjoy hanging out with my boys, biking through LA or catching a show at the Greek Theater.

I work hard to move the selling and buying process forward professionally and with a positive attitude. I’m committed to using both my people and professional skills to build connections, advocate for my clients, and make the process as easy as possible for everyone involved." - Jane Lee

We customize our approach in every real estate transaction. When the market makes major shifts, that’s when a lot of people mobilize from a purchasing standpoint. Taking into account the recent hike in the federal interest rates, which affect variable rates, and the low real estate inventory in Los Angeles, buyers may be tempted to hit the pause button on their search.

Our advice is to recalibrate your budget and your highest offer amount, be patient and continue your hunt for a new home. Our experience has proven time over time that there will always be an opportunity, and if you’re a buyer, you want to be in position to take advantage of it.

At this time last year, about 12 percent of sellers lowered their asking price on homes located in Los Angeles and Orange Counties. In June 2022 that number increased to 40 percent. What does this trend mean for buyers and sellers? This article does a good job of breaking it down. Read here to learn more.