Opportunity Ahead!

It’s interesting to witness a real estate recovery of sorts going on from the front row of things. As agents, we have the opportunity to not only see, but also get the feel of things from our clients, who really in an important way, represent a microcosm of the overall local market; on both ends of the spectrum.

On one end, there are those that are still very cautious about jumping into the real estate market, despite the incredible opportunities that are out there to be had. Part of the reason behind their ambivalence, has to do with the big picture– which is not always helpful or even useful when it comes to real estate. National figures ebb and flow, and are interesting in terms of the overall; however, real estate isn’t national by nature– it’s local. Values here in Southern California are ripe and ready. While there is still a good level of inventory of distressed properties, there is also a stable and growing market of equity sales out there, that are priced well, and can be fantastic long-term investments. We are seeing more and more situations where full price, multiple offers are being made on quality, well-priced homes; and since only one buyer can “win,” these multiple offer transaction are leading to a level of frustration in some buyers we haven’t seen since the crazy days of real estate just a few years ago.

Imagine that… demand is beginning to keep pace with supply; at least in some sectors of the market.

On the other end of the spectrum are the buyers who are chomping at the bit to buy several properties. They know that the price levels we are seeing right now in SoCal are somewhat down; but are becoming more and more stable in various neighborhoods and price levels. Because of that increased stability, and the historic lows for mortgage rates; this group of buyer is anything but hesitant– they are making hay while the sun shines, and buying as many properties as they can before the cost of money goes up, along with house values.

I am currently working with more than a dozen buyers in a variety of price ranges. To give you an example; I have a few first-time home buyers shopping in the range of about $150,000; and I have a few buyers looking at homes valued at upwards of $3,000,000. And many others in between those two.

Caution is displacing fear, and gradually giving way to optimism. It’s really great to see; and a privilege to be a part of, and witness up close.

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Categories: INVESTMENT PROPERTIES

Author:Marino Real Estate

Specializing in residential and commercial real estate sales for the better part of a decade, my approach to real estate involves establishing a trust with my clients, that contributes to the ultimate success of our transaction. Whether it is a personal residence, or an investment property, I am committed to negotiating the best deal for my clients, and have enjoyed a history of meeting the important and unique needs of the many clients which have entrusted me with thier real estate goals.

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