2022 REAL Trends America’s Best Real Estate Professionals
What You Should Know
About Rising Mortgage Rates?
If you’re thinking about pausing your home search because rates have started to go up again, you may want to reconsider. This could actually be an opportunity to buy the home you’ve been searching for. According to the MBA, mortgage applications declined by 13.3% in just one week, so it appears the rise in mortgage rates is leading some potential homebuyers to pull back on their search for a new home.
source:keepingcurrentmatters
So, what does that mean for you? If you stay the course, you’ll likely face less competition among other buyers when you’re looking for a home. This is a welcome relief in a market that has so few homes for sale.
Over the last few weeks, mortgage rates have risen. But that doesn’t mean you should delay your plans to buy a home.
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If you are thinking about buying a new home, give me a call, or email me and I will be happy to assist you.
Tanya
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You can reach me at 310.801.6033
Market Update
Single-Family Homes from 1/1/2023 to 2/27/2023
Market Update
Lowest prices | Luxury Neighborhoods of Los Angeles
Currently 5 Condos up to $1M
House: $1,800,000
Condos: $579K
House: $2,495,000
Condos: $599K
House: $1,785,000
Condos: $499K
House: $1,269,000
Source: MLS
Snapshot L.A Gated communities
The Summit Beverly Hills
“The Summit” is a 24-hour security guard gated community (with car patrol) in Beverly Hills. It is located at the top or “Summit” in the hills above Beverly Hills Post Office where Coldwater Canyon and Mulholland Drive meet, bordering the areas of Sherman Oaks and Franklin Canyon. The enclave is popular with A-list entertainers looking for privacy. There are just over 80 homes in this gated community made up of only 6 streets. Most of the properties in the Summit were developed in the 1980’s, although there are several newer construction homes as well.
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