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Median Home Prices:Prices hit bottom in Los Angeles in 2009 and continue to rise.
Economists in 2009 made the grand statement that the recession was over. But it was too early, and the economy was so weak, that nobody was ready to believe it. But here we are, 5 years later, and now we've seen the largest price increase since the boom in 2007. Prices across Los Angeles are close to where they were at the height of the market. Some areas selling for even more.
Interest Rates:Interest rates surged at the end of June 2013 landing a full percentage point higher than the 3.5% from month before. Rates have held between 4-4.5% since and are still well below the historical average of 7-8%. 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 now, to avoid the risk of a dip in pricing when rates increase. Analysts expect only a moderate increase in housing prices in 2014.
Today's real estate landscape is complicated. You need a strong agent by your side to navigate and walk you through its complexities. I will guide you through each step in order to help you buy or sell your home quickly and easily if you let me. Let's talk and see how I can help you achieve your real estate goals.
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