After 3 years of dismal price slides in L.A. County and around the United States, there is a glimmer of hope that the national market and local LA market are slowly starting to recover. Just out today is the Case-Shiller Index report indicating that property values are up by one half percent nationally. Doesn't sound like much but after steady declines in home values (much to the despair of homesellers) even a small uptick in prices is a little ray of sunshine on an otherwise gloomy horizon.
The most activity is definitely happening at the bottom of the food chain, where homes in the under $400K range are moving rapidly. Houses above $650K are definitely moving slower, and if you are thinking of trading your home up to a pricier one in a nicer area - you can still cut fantastic deals.
One of our sellers who had initially priced his home at $1.1M has now slashed his home price to $859K and we are finally getting more than just a few looky-loos. If you need help negotiating a killer price on a beautiful home, we are happy to help.
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