REAL ESTATE NEWS (Los Angeles, CA) — As the Federal Reserve hikes interest rates to a more historically normal level, we’re hearing and seeing fewer prospective home buyers in the Greater Los Angeles Area. Residential real estate prices today are near all time highs. Rents are also around all time highs. What many are not aware of is that home equity is also near all time highs, according to Money.com. This, along with relatively full employment and fairly normal financial condition of households (except for inflation), means that most home owners have no pressing reason to sell. Because home ownership and home values grow from inflation, today’s home owners are in an advantageous position.
While today’s lower number of transactions is sad for many real estate agents who were making a killing last year, the current situation is good news, favorable for the average home owner. Some home prices have dropped, but these are just the few who must sell quickly for personal reasons or out of their own decision to panic during a crashy stock market season. Even if inflation were to be quickly eradicated, which is not happening, most home owners would prefer to watch and see rather than engage in panic selling. As the Loft Blog projected, home prices are not massively plummeting any time soon, so long as inflation continues to apply upward pressure on most prices. Landlords and investors are doing well, as are most other residential property owners.
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HOAdtla.com – For those who need to reach a particular condo building, here is an alphabetical list of Downtown L.A. condominium building managers, HOA management offices, front desk concierge, security guard phone number and management websites. This directory also includes the websites for sales and leasing information. For rentals, click Sales. #dtla
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