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Spring Fever Expected To Warm Up Real Estate Market

Traditionally spring and summer are the busiest months for real estate transactions and as the weather warms up, our team is preparing now for the influx of inventory we predict will be coming to market in the very near future. 

While interest rates remain in the high 3% range, multiple market indicators show a
projected increase up to 4 percent and higher by the end of this year. We believe there will be a wave of buyers ready to make an offer as sellers strategically enter the market. 

Our combination of experience and knowledge in the Los Angeles real estate market gives us the tools to deliver for our clients. Whether you're buying or selling, our team is prepared and ready for whatever spring brings.


Best,

Table of Contents
Recent Activity
 
Success Stories
 

These two pictures are of a home we were able to help purchase for our clients, beating out nine other offers. Some of the offers were higher than ours, but we were able to open escrow because we proposed other competitive terms that helped win the sellers over to our clients. We were able to secure our buyer a great deal and delivered this home at a pre-pandemic price! In this seller’s market, deals like this are extremely rare.

We had been helping this buyer search for their dream home for more than a year and a half. We wrote multiple offers on homes which in the end didn't pan out. Just when they were about to throw in the towel and call it quits, all the stars aligned and they purchased this home! We used patience, prudence and skillful negotiations to win this sale. 

Watch this space! We will share more success stories like this in our upcoming newsletters.

Our Advice
 

Spring may be just around the corner, which means that along with the promise of fresh blooms, well, there’s Tax Season! 

Buyers should be aware that while escrow prorated taxes split appropriate credit between buyer and seller, the actual taxes may not have been paid. The buyer will be responsible for any unpaid taxes at the end of escrow. Check your escrow papers and/or title report to determine if any portion of the annual taxes were paid by the previous owner before the close of escrow.

If any taxes remain unpaid, call the tax collector for your county and request a bill. When you call, give the identification number of the assessor from the previous tax bill, property address or legal description. State laws specify failure to receive a bill does not allow the tax collector to waive penalties on late payments. 

Look for more tax tips in our upcoming newsletters!

What We're Reading
 

There’s no crystal ball revealing what’s to come in the spring of 2022 and like the volatile weather at this time of year, so are the real estate market forecasts. So what can we expect? This article based their predictions using three charts which tracked historic data on inventory across the United States, interest rates and housing prices. The takeaway? Rising mortgage rates could slow down the U.S. housing market.

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