LEARN THE ENTIRE SFV REAL ESTATE MARKET IN 3 MINUTES | JULIAN PARK TOP REAL ESTATE AGENT

April 18, 2020

 

All right, so how's the actual market? Well, here's the honest truth guys. If you and your significant other are not making more than around at least 80 grand a year, you guys should probably just rent, I'm sorry. We live in a different generation than our parents do. Just living at your parents' house, keep renting, whatever you do, don't buy a house if you and your significant other, and not making at least 80 grand a year. That sucks really. But at the end of the day, it's really expensive. Now this is Los Angeles. Everybody freaking, everybody wants to move here. Pando is a really nice option if you're okay with the commute. They do have a lot of new jobs coming out there and it's actually gotten quite nice home prices out there around 60% of what we're paying out here in the San Fernando Valley, because at the end of the day, it is a sellers market.

 

That means that there are more buyers than sellers. They can put a house on the market that's not, that's like falling apart and people will still put offers on it because there's no other options because rent is so expensive. Any good house you see it's probably going to have multiple offers, which is why you should probably get a good realtor like myself to help you get your offers accepted. Interest rates are really low. Generally speaking, back in our grandparents' days, they were, you know, at least 10%. Even a couple of years ago they were around 5% to five and a half percent. Now you're going to see these interest rates below 4%, which is great and it allows you to put a lot more money into the equity of your house and paying the banks already taken up money from us anyways. Oh yeah.

 

If some, if one more person tells me if the market is going to crash, I am going to, I want, my person tells me the market is going to crash. I'm really going to, there's one or two. If I may one more person that tells me the market is going to crash, I'm probably not going to do anything because I have a lot of other things to do, but I will be peeved in my head while continuing to smile, which is what I do a lot. The market's fine. This is Los Angeles. Yes, there are fluctuations that goes up and down like any, like anything like stocks, bonds and even cars, but at the end of the day, there's always going to be a demand for Los Angeles. People are always going to be a moving here. That is why our median price more than double of what the national averages.

 

What that means is that yes, prices will go up and down, but they will generally keep going up. But that is for a number of reasons. One, because everybody wants to move here, but too, because everybody makes a bunch of money here. If you have, if you make enough money and you haven't down payment and you want to stop renting, then make the move. Now. If you don't have a lot of those, then maybe you should continue staying at home. So basically to sum it up if you're making good money and you have a down payment, then you should probably buy a home. If not, it's fine. We live in a different generation. A lot of people still live with their parents. That is a general state of the market. It's not easy buying a home, but you should get a good realtor, again, like myself, who can get your offers accepted and negotiate great prices. Just be prepared for it to not be that easy.

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