Expect a Hot Seller's Market in San Fernando Valley for Spring 2014

There are many great San Fernando Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (818) 993-1300 for a FREE home buying or selling consultation to answer any of your real estate questions.

Is Now a Good Time to Buy?
Spring has come to us in Porter Ranch, and with that comes a flurry of real estate activity. If you're considering getting involved in real estate this year, then you need to know what's going on in our market. Let me fill you in briefly on what you can expect.

1. Rising Interest Rates: Interest has risen steadily over the past year and lenders do not foresee any lower interest rates in the future. Because of this, now is your best bet to buy a home affordably. With interest as low as it is right now, you could save yourself hundreds of thousands of dollars over the course of a 30 year loan.
2. Inventory is still very low: Even with double the amount of inventory we had last year, we are still experiencing a tremendously low amount of inventory right now. In the San Fernando Valley you need about 7,000 homes on the market to neutralize the advantage between buyers and sellers. Currently, we have around 2,700 to 3,000 homes available as we enter the spring season. 
• This means that if your home is priced right, it will likely sell right away and will probably receive multiple offers. So, if you're looking to get top dollar on your home, now would absolutely be the time to do so.
  
3. There is a land shortage: In all the areas outside of Los Angeles county, there is not much room to build new housing. We're seeing people coming from the edges of Los Angeles back into the San Fernando Valley. As a result, you have an increased buyer pool as well as increased buyer activity. This will probably only get worse as time goes on, because there is just not enough space in Los Angeles anymore.
   

So, now is actually a great time to sell and a great time to buy. Sellers will sell their homes quickly and for top dollar, and buyers can take advantage of low interest rates while they're still around.

Please contact me with any comments or questions and I would be glad to help you out in any way possible. You can contact me at (818) 720-9922 or email me at Scott@ScottWorks4u.com