Profit From the Current Luxury Real Estate Market
The Los Angeles luxury real estate market is always pulsating with deals, with a steady drip of dreamy celebrity mansions up for sale. Whether you own residential or commercial property in Beverly Hills, Malibu, or Bel Air, among other glittering neighborhoods, it is always good to own in LA! But 2017 may prove to be the most fortunate year ever for realtors who are wise enough to sell.
Top 10 Signs You Should Sell Your Los Angeles Luxury Home Right Now…
- LA Is the #1 Housing Market Right Now – Per a year-end real estate report conducted by Zillow, the Los Angeles housing market has “a combined total value of more than $2.5 trillion – more than double the combined wealth of America’s 50 richest citizens!”
- 2017 Is Predicted to Be the Year of the Seller – It’s not just Los Angeles real estate that is hot right now, but the whole US market! Danielle Hale, managing director of the National Association of Realtors, suggests a combination of low mortgage rates, shrunken inventory, rising home prices, and low unemployment will keep luck on the side of sellers in 2017.
- Springtime Is the Best Time – We are approaching the spring, when Los Angeles homes tend to sell fast and for high prices due to lower inventory. As early as January, people begin researching homes online and by April, they’re ready to make an offer. If 2017 is a good year to sell, then spring is historically a great season to list.
- Luck Eventually Runs Out – Although Los Angeles should always be a top housing market, some years are better than others, and the current upswing won’t last forever. There are in fact predictions that mortgage interest rates will increase soon, rendering luxury homes unaffordable for some homebuyers for some time.
There is an art to finding Luxury Real Restate. Los Angeles Luxury homes don’t linger on the open market for long. The scarcity of these luxury listings is why you need the assistance of an entire team of Los Angeles luxury brokers on your side.
- Online Advertising – Real estate agents have many places online they can freely showcase their properties – from Facebook to Instagram to their website. Realtors are more increasingly finding buyers online as compared to offline, and right now it is still simple and effective to boast an online presence. However, as the online space gets more crowded and competitive, it will no doubt get increasingly difficult to get seen online.
- The Trump “Honeymoon Effect” – Unbelievably, Los Angeles sellers can partially give thanks to President Donald Trump for the latest market highs. There is no telling how long this “honeymoon effect” will last, but for now the new administration seems to have pumped some new confidence into local realtors.
- The Local Economy Is Bright Right Now – According to CBS News, right now Los Angeles’ “unemployment is down and its economic output is up.” This means many people will decide that now is the time to buy, so you need to be ready to sell!
- Los Angeles Luxury Home Sales Are Increasing – Los Angeles Luxury Home Sales have been on a steady incline for the past several years, and so now that the timing of the market is on your side, it could finally be time to sell.
- The Market Is Unpredictable – Although confidence in the Los Angeles luxury real estate market is high right now, most are not expecting Donald Trump’s presidency to be a predictable one, and so the same can be said for the market. Consider taking advantage of the current optimism, as the market appears due for some instability.
- Use The Funds To Upgrade or Diversify – It seems simple, some property owners make the mistake of holding on to a property for too long, fearing they will miss out on money later. However, if you stay active and keep striving to improve or diversify your real estate portfolio, you will benefit the most.
If you’ve decided that now is the time to sell, you can contact us for a free consolation on how to get your Los Angeles luxury home listed and sold! You can also search current Los Angeles luxury properties that have already been listed for sale in LA.