Existing Sales Jump in August – Sherman Oaks Homes

by Mario Acosta on September 21, 2011

in Buyers, Local Topics, Market Trends

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All things considered, this hasn’t been a bad summer for Sherman Oaks real estate sales. I’ve had a good-sized group of my most frugal buyers enter the market this summer. That tells me a lot about the true state of this market. These are the buyers with a past track record in real estate that only jump in when the water is just right.

With prices down from the peak and fairly stable over the last year, many buyers see an opportunity in this recent market to get the type of home or neighborhood that they wanted a few years ago but couldn’t afford. Add to that the best mortgage interest rates of our lifetime, and there’s no wonder why these savvy buyers are stepping to the plate.

Could prices in Sherman Oaks homes continue to go down? Yes, I think that is likely in areas with high rates of foreclosures and short-sales. But what the price trends have shown over the last 12 months is that prime location neighborhoods in Los Angeles such as Sherman Oaks are very stable overall.

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Post by Mario Acosta

Mario has written 117 articles.

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