Welcome to the Year End
Sprint
! The beginning of November saw the Santa Claus sleigh installed at the intersection of Wilshire & Beverly at the heart of Beverly Hills village. Halloween wasn’t technically “over” when Santa was hoisted above the street this year.
I’m working on getting in the mood, but my clients are still wanting to extract the best possible results from the end of this year’s run, and I intend to help them achieve it.
Los Angeles just recorded the
slowest September
for existing home sales in 10 years. 17,369 homes sold last month, the lowest total since 2007. Sales volume fell 19.3 % year-over-year. Interestingly, the median
Sales Price increased a meager 3.5%
---which leaves hope that the party is not completely over. We have entered a thoughtful market ---one that requires plenty of knowledge, experience and strategy in order to prevail.
I’ve experienced these “
Transitional Market
” cycles 4 times in my career, so I know that nothing lasts forever --- the party or the dirge. Returning to the quickly approaching holiday season, I wish to leave you with a happy & realistic thought. Ask less,
and you will receive more
. Ask more,
and nothing will happen
. Many of my sellers are understanding the beauty of this principal in pricing their properties ---
and we are selling
. If you want other strategies to win in an increasingly challenging market, please contact me. I’ll don my Santa hat for you anytime.
-Ernie
