Southern California and LA Real Estate Markets are Catching FireLos Angeles Real Estate and Condos
Just in case you haven't noticed, the Southern California Real Estate Market is heating up and property owners are getting more creative and competitive.Can you believe it was only a short 4 and a half years ago since the beginning of the financial crisis which knocked US real estate off it's high perch. Now prices are heading up and competition of real estate at the high in including those fancy mansions in Malibu are getting back to the peak prices not seen since before the crisis.
When you are looking for your first home and have your cash ready to go. But real estate broker Redfin says things cooled off in May. A little: The company says "mansions for sale were easier for homebuyers in May than in April" because only about 70 percent of bids nationwide faced competition while 73.3 percent did so in April. That means 8 out of 10 listings are seeing buyer vs. buyer, and then some. That helped made Los Angeles the second most competitive market in the nation last month. It was beat out only by San Francisco, with Orange County coming in third and San Diego following, Redfin says:
In Los Angeles competition for those celebrity homes only let up ever so slightly, with 86.1 percent of listings seeing competitive bids in May versus 86.2 percent in April, according to Redfin.
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