Natalie took a few days off for the long weekend and I have been showing homes like crazy. Lucky me, I have a pool, and when I am done showing homes in 100 degree weather, I can return home and just jump in.
The real estate market is changing; it is no longer a red hot sellers market. Affordable homes in move in condition are still selling like hotcakes but not all are selling over asking price. Some of these listings are even having price reductions. Home buyers in a position to purchase a cosmetic fixer upper are going to find the only real estate “deals” to be found.
When George and I purchased our home it was hideous, we were fortunately in the position to have a lot of work done prior to moving in. Of course money is always an object and we couldn’t afford to remodel all of the baths. Each one was more hideous than the next. We picked one, closed the door and didn’t look at it for two years until we had the money to remodel.
Home Buyers take note: Buying a home is very different today, interest rates are historically low. If interest rates rise to double digits there may not be a move up home in your future. This means don’t settle. And if you can’t find your own piece of Los Angele real estate you will love coming home to, perhaps you should consider buying a home and renting it out.