The holiday is not the peak listing time for Los Angeles Loft Real Estate Sales and Leasing. But the current situation, namely a super-low supply of homes coupled with great demand, is not typical. Usually, there are fewer buyers than in May or June, meaning homes tend to take longer to sell during the holidays. So sellers often wait to list until spring. But this year is one like no other. See what’s on the market now; check out the Lofts Reviews of Biscuit Lofts here.
There are fewer lofts for sale during the winter months anyway. In this current market, inventory is already at historic lows. So owners who want or need to sell a loft during the 2021 holiday season probably won’t have too much competition.
Although there are also typically fewer buyers during the holidays, it’s still very much a seller’s market right now. However, the buyers who are looking during the holiday season are serious about making an offer.
Many lofts and their buildings look especially festive during the holidays, with holiday lights, wreaths, and outdoor displays. This means the holidays can impart an inviting, homey feel to a listing and the surrounding downtown neighborhoods.
Low-interest rates equal lower monthly mortgage payments. But, unfortunately, next year the rates are expected to rise significantly. Earlier this year, the Mortgage Bankers Association (MBA) reported that when interest rates barely rose, from 2.96% to 2.98%, mortgage applications fell 5.1%. This shows that even the slightest fluctuation in interest rates can make a significant difference in buyer behavior.
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Today’s situation is unlike years past when the advice would typically have been to wait until spring to sell, if possible. If you’re on the fence about listing during this holiday season or waiting for spring 2022, there’s really no reason not to list now. Either way, it should remain a seller’s market for at least another year.
Source Story from USA Today
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Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.
