Selling a house or purchasing a home is complex — from signing contracts, disclosure laws, the timeline of escrow, coordinating vendors and repairs, real estate is a nuanced industry.
We do not expect our clients to be experts in real estate, because you are the expert in the things that your life requires you to be. Whether it is being a personal trainer, software engineer, accountant, teacher, caretaker, you hold a role that requires your full time and attention. So when you go to list your home or buy a home, you want someone who is investing into you and the transition you are making.
Have you considered using Proposition 19 to transfer your tax base from one county in California to another?
Were you interested in learning about how to use a 1031 Exchange to defer the taxes on the sale and purchase of an investment property?
Are you wanting to give your children or grandchildren money for a down payment?
Are you thinking about building an ADU or selling and finding a property with a back house?
Reach out our office at (626)609-2130 and get connected to a real estate agent. Where is the market headed? What are we seeing locally?
Here are a couple of statistics for November 2022 that put numbers to something we as real estate agents have already identified: the market is shifting, but there are still opportunities for home buyers and home sellers.
For our local counties (Orange, Riverside, San Bernardino, and Los Angeles), the median number of days to sell was 25 days. That is over 3 weeks! That helps set expectations so that if you are listing in the upcoming weeks, you aren’t expecting it to be sold by the end of the day. Of course, half of homes are selling more quickly than 25 and half are taking longer. It depends on a variety of factors like location, timing of sale, marketing, pricing strategy, condition of home, and more.
Another indicator in the market is that the number of sales has slowed down from a peak this year in March 2022 to its lowest month in November. From October to November this year, the number of sales went down roughly 12 percent. Fewer transactions, closing more slowly, that is definitely something we are seeing across Southern California.
Whether you are packed with holiday parties or enjoying a more mellow season, our brokerage sends well wishes to you and your family!