Okay, so it’s hard to be a buyer in L.A.’s current seller’s market, and according to the majority of real estate prognosticators, it doesn’t sound like that’s going to change any time in the near future. I talked to Melanie about this market when she first came to me, needing help with finding her new home. She understood that it might take a little patience and persistence, so we drew up a specific game plan and started looking.
There were definitely some challenges along the way. We saw overpriced dumps, decent but uninspiring homes, and got out-bid on a couple of nice homes that attracted a ton of competing offers and ended up selling for well over their asking prices. She learned a bit more from each of these experiences, but she didn’t give up. She simply took in the info and fine-tuned our game plan, until the perfect home hit the market in the beautiful Rossmoyne neighborhood, in the Glendale hills. It was a storybook Spanish, lovingly cared-for, with a ton of character and a bonus guest house. She took everything she learned from the market and we put it all to use, in crafting an offer the seller couldn’t say no to. Once again, there were several other buyers making offers on this unique home, but this time, we came out on top!
Well, we just closed escrow on Melanie’s storybook Rossmoyne home, so I guess the moral of the story is that, despite the low housing inventory and the resulting seller’s market, you can find and buy the home you want, as long as you approach your search with a solid game plan and a little bit of patience.
Our friend John Rabe had a fantastic gallery opening for his new show last week, and we were lucky enough to attend and to meet the incredible George Takei, who MC’d the event. If you’d like to see a terrific photography exhibit, including a thought-provoking portrait of George and his husband, you can check it out at the always intriguing Bermudez Gallery!
Buyers have seen housing inventory tighten up over the past couple of years, and the indicators point towards this trend continuing. However, with patience and putting together a good game plan with your Realtor, yes, you can get a home in this market! – Just ask our clients.