Wonderful mid-century home looking for some TLC. Ready to restore, renovate or rebuild. Walls of floor to ceiling windows look out to a lovely central garden and mature shade tree. 3 bedrooms, 1.75 baths. Visit 711Muskingum.com For more information call Tiffany at 310-776-0258 or email firstname.lastname@example.org.
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Prices hit bottom in Los Angeles in 2009 and have nearly caught up to the peak of the market of 2007 in much of Los Angeles. Where's the housing market heading? According to UCLA's Anderson Forecast, the economy will continue to improve marginally through 2016. Home prices will continue to rise, but at a much slower pace. In 2014 we've seen prices rebound strongly through the first half of the year in Los Angeles, and now rising very slowly as the market reaches normalization. Already, we've seen the market slow down in terms of the number of sales; however, much of Los Angeles' neighborhoods still see a housing crunch and seller's market, as there are more buyers on the market than properties to sate their needs.
Interest rates have been floating around 4% this year, up from the very low 3.5% of Spring 2013, but still near historical lows, and well below the historical average of 7% (and a fraction of the outrageous highs of the 1980's which pushed 18%). Buyers are still clamboring to get into the marketplace to take advantage of the low rates. Analysts expect rates to increase to 5% by mid-2015. Sellers would be wise to get their homes on the market while the prices are still peaking, to avoid the risk of a dip in pricing when rates increase. Analysts expect only a marginal increase in housing prices through 2016.