By Ron Wynn
Common sense reminds us that the real estate market runs in cycles here in the Los Angeles area from periods of unexplainable rapid appreciation to periods of consistent and predictable price escalation to leveling periods to declining periods. Although scare threats try to suggest a black and white, now it’s hot, now it’s not the scenario, it’s not really like that.
There is never a need to panic, but for those savvy sellers who are strategically waiting for the best time to sell, you don’t want to wait until “the writing is on the wall.” Currently, we are in the stage of consistent and predictable appreciation making it the perfect time to pull the trigger.
Here are the factors to watch which can push the market to a lower level.
- When people are concerned about political policies and the outcome of a presidential election.
- When unemployment increases or when trade and commerce show signs of pullback or loss.
- When utility prices and oil and gas prices increase sharply.
- When the stock market drops sharply and people experience a financial loss as a result.
- When terrorism becomes a reoccurring event and when it appears that our country is unsafe and also at times when our country might be close to war.
- When inventories of unsold homes are on the rise.
- When days on the market increase.
- When listings for homes on the market expired and are reassigned to a new real estate agent.
- When price reductions are common and frequent.
- When bidding wars become rare and sale prices below the listing price are far more common.
Luckily most of these indicators are still very much not the case.
Please call to discuss where we stand on the issues that concern you. Also questions relative to strategy, timing, nd your best possible outcome.
Ron Wynn (310) 963-9944 Ron@RonWynn.com