I Would Like to Welcome You to My New Video Blog!

Welcome to my video blog! My name is Scott Himelstein and I will be providing videos regarding real estate. Today, I wanted to talk to you about the current state of the San Fernando Valley real estate market. As 2013 draws to a close, the market still remains strong; inventory is still very low and most zip codes are under 65-75 properties on the market. The San Fernando Valley as a whole is seeing fewer than 2,000 single family units which is higher than April and May of this year. However, as sellers began to see prices rising, more homes started entering the market. The slight rise in interest rates caused sellers to back off slightly, but the buyer’s demand has remained strong and we are seeing multiple offers across the board.

Right now, we are still in a seller’s market. In order for the market to become neutral, the San Fernando Valley needs around 7,000 single family units and right now we only have 2,000. This has to do with interest rates being under 4.5% and the amount of first time buyers and investors on the market.

Thank you for visiting my video blog! If you are a buyer, check out our free MLS property search and if you are interested in selling, check out our free home value report. Please call me at (818) 720-9922 or email me at Scott@ScottWorks4u.com. Have a great day!