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Old 01-03-2013, 10:56 AM
 
1,714 posts, read 3,782,972 times
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So I heard SoCal's RE market is bouncing back.

How's your LA County home-buying experience right now?

Are you getting outbid by investors and cash buyers? Low inventory? Properties selling over asking?
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Old 01-03-2013, 11:04 AM
 
Location: Lafayette, CA
2,518 posts, read 3,960,238 times
Reputation: 624
Quote:
Originally Posted by genjy View Post
So I heard SoCal's RE market is bouncing back.

How's your LA County home-buying experience right now?

Are you getting outbid by investors and cash buyers? Low inventory? Properties selling over asking?
I can only speak from an investment standpoint. It's been very competitive, and the court house steps are extremely crowded these days. I'm not new to the business either, I own over a dozen properties in SoCal and NorCal.

Cheap credit (for those that can qualify), and record low inventory is causing a mini-bubble. I don't think it will sustain. Unemployment and economic uncertainty is still too high.
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Old 01-03-2013, 07:14 PM
 
Location: LA/OC
1,083 posts, read 2,133,132 times
Reputation: 605
Quote:
Originally Posted by genjy View Post
So I heard SoCal's RE market is bouncing back.

How's your LA County home-buying experience right now?

Are you getting outbid by investors and cash buyers? Low inventory? Properties selling over asking?
This really all depends on the kind of homes and areas we're talking about, but generally...

If it's a great investment, you can rest assured the investors and cash buyers are on top of it (fyi, cash buyers don't always win against conventional loan buyers). Inventory is extremely low. Homes that are priced right are selling fast and sometimes for over asking price.
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