Is Southern California the Best Place to Conduct a House Hunt in 2015?
For many years in a row, you’ve made countless sacrifices to put some money aside. You have embraced a more modest lifestyle simply because you have always wanted to relocate to Southern California and buy a nice piece of real estate here. In 2015, you still hold on to your dream. But the question that you should ask yourself before making a bold move is this: would it be wise to pour solid cash in a property based in Southern California in today’s market? You can get the best answer to this question by simply taking a closer look at the latest real estate trends.
Supply Is No Longer an Issue
Real estate experts tell us that supply should no longer be seen as an issue. If you’re determined to buy a home, rest assured knowing that the local market provides numerous appealing choices that have what it takes to enchant the eyes of potential buyers. According to market watchers, more sellers are going to make new tempting offers, as prices stay relatively high. This is considered a big shift from previous years, when numerous sellers chose to take their properties off the market and bidders were competing against each other for extremely scarce well-priced listings.
More Sellers Need to Step up to Keep Prices in Check
According to LA Times, an improving economy and a decent supply of properties for sale are the key factors that should keep prices in check. The same source indicates the fact that the buyer interest is reaching higher values. Open house traffic and real estate searches conducted online show that more and more people are contemplating the idea of getting the keys to a house or apartment in Southern California. If this type of conduct were to be translated into a new round of sales, it would put some extra pressure on real estate pricing. However, in this area, affordability was always a key issue intimidating buyers and discouraging sellers at the same time. This market is currently ensuring a very tight supply of homes priced below $500,000. This may not sound like a lot, considering the fact that Southern California is the natural habitat of A-listers who shed millions of dollars on the most appealing slices of real estate; however, it goes without saying that apartments and homes carrying such price tags are not compatible with the allocated budget of prospects who live from paycheck to paycheck. Good homes in this price range usually sell very fast. Agents operating in Los Angeles County say that during this period they organize open houses and welcome up to 25 groups of potential buyers on a daily basis. They get multiple offers each day and affirm that many prospects don’t hesitate to offer thousands of dollars above the asking price. In this context, supply seems to be the main component that could succeed in keeping the housing market healthy. More sellers who are determined to part ways with their properties for the right amount of money could help prevent prices from rising very quickly. Several real estate experts have reached the conclusion that new developments may become the perfect solution to all problems associated with the short supply. In their opinion, approximately 100,000 new homes should be built and marketed each year in all coastal regions to reduce housing costs. Moreover, the housing market seems to be quite stable at this point and reflects a good balance between the needs and demands of buyers and sellers.
If You Can’t Afford to Own It, Rent It!
Recent real estate trends indicate that finding a decent piece of real estate in Southern California is not impossible. Nonetheless, all the data compiled and analyzed by market watchers points in the same direction, revealing that real bargains are scarce. If you can’t afford to spend more than $400,000 on a house or apartment, now would be a good time to turn your attention to less costly alternatives. In other words, if luxurious, pricy properties are way out of your league, focus on finding great deals on the local rental market. Expect to pay anywhere from $1,500 to $5,000 and up on a modern apartment or single-family house equipped with all the amenities that you could ever need to feel comfortable and safe in a new environment. If you’re pinching pennies at this time, you may also want to anticipate trends, compare prices and features and establish a deeper connection with potential landlords using an apartment finding service.
Discover a New Way to Get Good Deals on Rentals in California
It’s no secret that inexpensive rentals can also be very difficult to find, especially if you’re relying solely on offline channels and word-of-mouth to spot fantastic properties and reliable landlords. Fortunately, there is a simpler method to track down recent listings and weigh different options meeting your expectations in terms of location, price and features. Did you know that you could research various tempting alternatives online, with just a few clicks, while you’re at home or at the office? Apartment Hunterz delivers thousands of verified, updated listings each day and lets you discover, assess and save your favorite ones. It gets better. As an indispensable service designed to reduce the stress and eliminate the hassles experienced by both lessors and tenants, Apartment Hunterz gives users access to a long list of helpful tools. For example, landlords can post and edit listings in only a few minutes. They can add up to 12 photos and virtual tours to maximize the appeal of their ads. Furthermore, tenants can reach landlords using the modern iConnect feature. All the paperwork can be submitted online. Both property owners and potential clients can rely on the 24/7 assistance provided by a dedicated support center. This type of collaboration turns any house hunt into a wonderful experience. Give this apartment finding service a try and pinpoint the best rentals in the state of Cali in less than a week.