Neighbor News
San Fernando Valley Home Prices Hit Record High
High prices and an inventory shortage makes for an interesting market for both buyers and sellers
According to the March 2018 Realtor Report published by the SRAR there were only 958 homes on the market in the San Fernando Valley in February. This is the lowest inventory since the SRAR starting keeping track in the 1980s. This sounds like great news for sellers, right? Well, yes and no. Yes, if you are downsizing or leaving the area, maybe not so much if you are planning to stay in the area. A common reason homeowners are reluctant to list their home is the fear of not being able to find a replacement property, after all, they become buyers in a tough market. This has made more and more buyers willing to give sellers a contingency to find a replacement home. In this type of market the more flexible the buyer is with the terms the better chance of getting the home they want. Another reason some homeowners are choosing to stay put is that interest rates have gone up since they purchased their home.
Read the complete article and let us help you guide you through the process. If you are selling real estate we can help you get the best price and terms for your home. If you are thinking of buying we can help you put together the best offer to get you the home you want. CLICK HERE TO READ MORE....
Find out what's happening in Studio Cityfor free with the latest updates from Patch.
