Hello Valley Village Homeowners,
March has arrived and spring is right around the corner. After our chilly winter (by SoCal standards) I’m sure we are all ready for some milder days.
Spring brings with it the beginning of what is our traditionally strongest time of the year for home sales. The truth is, the market never really cooled down over the winter. With inventory at historic lows, the upwards pressure on selling prices hasn’t let up!
Available properties for sale here in VALLEY VILLAGE have been far short of the demand from active buyers out looking for their next home. We’ve been seeing homes selling for more than they “should” based on what the comps tell us. We have seen interest rates start to tick back up however, which will have a slowing effect on rising selling prices.
If you are planning on selling your home this spring/summer, now is the time to start prepping your property to hit the market. If you’re not sure where to start or what needs to be done, I have tons of tips on my blog www.LukeAllenRE.com/blog
It’s also important to note that CA Prop 19 went into effect on 2.16.2021, replacing Prop 58 & 193. If you are unfamiliar with how this impacts you as a homeowner, I have a cheat sheet for you on my website http://bit.ly/LAProp19
Keep an eye out for my quarterly market update coming in April!
Kind regards,
Luke
