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Navigating the ever-evolving landscape of real estate demands astute observation and strategic planning, especially as indicators point toward an impending shift in the market. As we near the turn of the year, subtle yet significant changes are surfacing—a rise in inventory accompanied by a slower pace of sales, dwindling multiple offers, and increased renegotiations during escrow.
In Pacific Palisades, a region classified as a Very High Fire Hazard Severity Zone, the threat of wildfires looms large. Residents are continually encouraged to take proactive measures to safeguard their properties. Earlier this year, local fire department personnel conducted assessments of properties in brush areas, identifying those with excessive vegetation and urging owners to comply with clearance regulations. To address the need for a more systematic approach to assess property-specific wildfire risks, a groundbreaking tool called the “Wildfire Disclosure Report” has been introduced.
The Palisades real estate market has defied expectations, with prices soaring despite higher interest rates and reduced loan-qualified buyers. Additionally, an intriguing shift has occurred, with a growing number of homeowners choosing off-market sales, particularly for higher-value homes. As the market continues to evolve amidst various factors, predictions remain uncertain. Stay tuned for updates.
of“I have heard about ‘back-up’ contracts. How do these work and do they benefit buyers or sellers
People often do not realize the importance of the process of “escrow” when buying or selling a home. It is a concept which many people are not familiar with, especially if they have not ever bought or sold real estate in one of the 32 states which use an escrow process. Most of the states along the east coast are not escrow states, and property sales there are done through attorneys and title companies. Often buyers who are relocating to California find it confusing when they are told that hardly any transaction here is done by an attorney.
Making a purchase offer and buying a home are two different things. Learn how to tell if you’re ready to make a purchase offer on a home for sale.
What Are You Required to Disclose When You Sell Your Home? What’s a seller’s disclosure statement or seller’s disclosure form?
This is the third in a series of articles in answer to requests for more informational help with “downsizing” issues for seniors. The focus here is on getting started with the process in a systematic and gradual way.
This is the fifth in a series of articles in answer to requests for more informational help with “downsizing” issues for seniors. The focus here is on considerations about the timing of a move.