How is the Palisades Market?

Real Estate News & Market Analysis

Michael Edlen has tracked local statistics and trends and provides real estate counseling services to prospective homebuyers. This guide to how to buy a house is where we've poured all of our knowledge to help you have a better home buying experience.

Real Estate News

The Buyers In Today’s Market

Investors have become a significant factor in the current market environment.  Investors generally have fewer contingencies and shorter time periods for processing the escrow. Therefore, they have traditionally closed escrows with fewer complications though having generally paid less for the property.

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Real Estate News

Local Home Prices At High Levels

The fuel for this steady recovery has been continued artificially low interest rates which has made purchases more affordable for everyone, combined with a lag in the homes being made available for sale at a rate equal to the steady and strong demand.

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Real Estate News

Seller’s Advantage Continues

As of May 1st, 2013, there is approximately a one-year inventory of homes available above the $5million level.  Conversely, it would only take 2.5 months to sell all of the homes below that level.  As long as the inventory level is below 5 months, it is generally considered to be a market that favors sellers.

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Real Estate News

Palisades Home Leases

There continues to be much interest in the local real estate leasing market.  Owners who choose not to sell their current property for various reasons have asked what is involved and how the process works if they decide to lease.

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Downsizing & Rightsizing

Proposition 90 Revisited

Empty Nesters and retirees have the choice to stay in an oversized home, or perhaps move to a more updated home and face the tax implications of that.

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