A tipping point for any of you who have been contemplating buying a home in Echo Park/Mt Washington/Silver Lake/ Glassell Pk or Highland Pk in the near future. There are two factors at play in this current market that motivate acting sooner rather than later.
The first factor is that prices are now beginning to move up. They are still low enough that it is still advantageous to buy, but that may not be true much longer. The second factor is that interest rates, long hovering at historic lows, are now beginning to rise. Speculation is this will continue steadily throughout the year. However, they are still currently low enough to be very attractive.
The bottom line is this: if you act fast you will still be able to take advantage of low prices and low interest rates, and get yourself a home that you will be happy with, can afford and should appreciate. True, there are bidding wars out there right now on many properties. But as an experienced broker/agent, I have had excellent success helping my clients navigate their way through this highly competitive market. And I believe I can do the same for you.
Feel free to contact me anytime if you would like my help with this.