We recently shared that over the course of the last 12 months, home prices have appreciated by 7.0%. Over the same amount of time, interest rates have remained historically low which has allowed many buyers to enter the market.
As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.
The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 4.7% over the next 12 months.
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Work with an Expert
If you’re looking to buy or sell a home in Reynier Village or the Los Angeles area or just want advice on the state of the market, you should call someone who knows the area and LA market inside out, please contact me at 323-646-6569 or Laura@LauraAndersonRealtor.com. I live, shop, & work here alongside you. I sell real estate in the areas of our city I am most passionate about – Faircrest Heights, Reynier Village, Mid Wilshire, Mid City, Culver City, DTLA, Playa Del Rey, Hollywood Hills, Los Feliz, Hancock Park, and Beverly Hills. At Keller Williams, I am one of the top ten agents in my office, receiving many production awards, and I am a member of the “Agent Leadership Council”, but that’s the behind the scenes stuff. What matters to you is that I am passionate about what I do, where I live, and that I understand the local real estate market. I want my clients to be happy, offer referrals, and do business with me again.