For a nine months now, the housing market on the Westside has experienced the highest annual appreciation rate in recent years. Even Dataquest reported the that the 26% annual increase of June ’12 they June ’13 was the highest annual year over year increase ever reported. We all know that overall rates reported in California are almost always exceeded on the Westside of Los Angeles. Homes and condos alike are on fire. Lynn and I have only two listings unsold and one lease; everything else is sold or in Escrow.
There’s two reasons to consider selling your property now. First, if and only if you have plans to sell property anyway, now might be the time. No one knows what the future holds, and any one of a number of events could pull back Buyers, such as a reversal on the Federal Reserve decision to continue buying real estate portfolios, a military strike in Iran, or a weakness in the labor market.
The second reason is for investment reasons. We still have historically low rates. Future inflation will insure higher rental income streams, but with fixed costs such as the lending rate, you are assured of generating a positive cash flow. This is assuming that you make an educated investment decision and that it’s in an area that continues to experience rental increases.
For both of these reasons and many others, give us a call about your biggest asset; your real estate. Normally it might mean that your current game plan is a smart one, but a little private consultation is worth it. We live on the westside of Los Angeles, not Mobile or Deluth. Real
Estate ownership here denotes wealth and should be treated accordingly.
For more details on actual condominium sales figures, visit our website at www.wilshirecorridor.com and pull down the “Buildings” tab.