subject: An Insight Into The Real Estate Los Angeles: Sellers' Gain [print this page] An Insight Into The Real Estate Los Angeles: Sellers' Gain
It would quite surprising to see a dichotomy in almost everything in Los Angeles and the same applies to its real estate. Real estate Los Angeles tops the national foreclosures list and its unemployment is just about 10%. But if are wondering that with these conditions you might be able to easily pick up a nice inexpensive deal, better have second thoughts! There are several reasons in Los Angeles that support an incredible demand in the real estate listing of the state. Let's look at a few of them.
Los Angeles has, debatably the best weather in the United States, making it an extremely attractive place for people and hence the real estate agents. It is its 300 days of 70degree sunshine that make people fall in love with this place. Also, Los Angeles has strong regional industries established with entertainment and defense leading the field. Despite the high unemployment levels, the core industries aren't at the peril like other areas of the country! Entertainment in Los Angeles has indeed picked up its pace in the real estate listing.
Other Attractions In Los Angeles Real Estate
Talking of the culture of Los Angeles, it is largely based on the image. Though there lies a lot of substance behind it, at the end of the day it purely depends on how you perceive it individually. The culture of hipness asks for impressive stuffs and so it supports a heightened demand for homes in Los Angeles. This way, the real estate Los Angeles is greatly influenced by its prevailing culture. Yet another reason that shoots up the Los Angeles real estate listing is the availability of lucrative jobs. The city is a financial megapolis offering several lucrative business opportunities, jobs, investments than any other place within 2,000 miles! The household incomes here are on an average $125,000 and it is these income levels and standard of living that demand good price levels for in real estate.
The final factor that many real estate agents bank on to enhance their real estate opportunities in Los Angeles is cheap money; though Los Angeles might be encircling the drain financially as a nation, but the mortgage amounts are ridiculously cheap these days. The low rates prevailing create a heavy demand for good homes in Los Angeles.
With so many aspects at work, when the foreclosures come down the pipe, real estate agents witness a high demand for homes in Los Angeles. Despite the several problems they are facing (such as the fact that the demand is relatively lesser than what it was 2-3 years ago), the real estate Los Angeles is still moving. Also, the banks don't have to undercut the market in order to move their foreclosures thus enabling them to market and sell their properties at a price just below the market price! Compared to the other cities and counties of the U.S, the real estate listing of Los Angeles is significantly stronger. For instance, it is quite easy to obtain and sell a 1200-1500 square foot home with 2 bedrooms and a bath within the range of $700,000-$800,000 and this is considered a fair good deal!
