After 20 years as a realtor in Pacific Palisades, I have experienced two recessions and two boom periods. We’re now in a strong recovery, but I think it’s important for buyers and sellers to keep these five misconceptions about our real estate market in mind:
1) It is a great time to sell and a bad time to buy.
Everywhere you look, people are saying “What a bad time to buy and what a great time to sell.” Indeed, this is a hot seller’s market and for buyers there are multiple offers on properties. But the reality is, if you do not have to sell, now may not be a good time to do so since we are only in the beginning of an appreciating market.
This page is available to subscribers. Click here to sign in or get access.