What Makes The Difference In Today’s Sherman Oaks Real Estate Market?

by Mario Acosta on June 10, 2010

in Buyers, First-Time Home Buyers, Local Topics, Market Trends

Invenzioni [Inventions]

Sherman Oaks Real Estate Market Tips

What are the three most important things in real estate?  Location, Location Location—we’ve all heard this old adage numerous times but it has never been more important than in today’s market.

With higher than average risk in many parts of the economy, it’s important to keep the fundamentals of success in perspective. I often get asked “Is it a good time to buy or sell and what should I be looking for?”  No one has a crystal ball including real estate agents but if you stick with a list of best practices and do your research, the risk factors can be manageable.

Here are a few timely tips to improve your odds:

1) Location

In today’s market the savviest and most knowledgeable clients are buying the best locations they can afford.  Being closer to a city’s center, shorter commute times, safe neighborhoods and good schools are a huge plus.  Buy location while it’s still on sale.

2) Availability of Inventory

Buying in a new development can sometimes be risky.  Particularly, if the new development is in an area where future development can still take place.  If the community still has available land that could be developed in the future be concerned and do your homework.

3) Have the Proper Time Horizon

I advise most clients these days to think in terms buying property that they intend to hold for a minimum of 10 year–maybe 20 years if you are really risk adverse.  Buyers that follow this tip rarely make a bad purchase.

4) Pick Your Spots

Even in a down market, not all homes are a good buy. It’s important to have knowledgeable and experienced members of your Sherman Oaks real estate team advising on the right property choices.  All real estate is local and market conditions can vary from area to area.  Buyers need to do their homework and seek the advice of a trusted expert.

I hope that you gain a little something from my real estate experience that improves your next Sherman Oaks real estate transaction.  Happy Hunting!

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Post by Mario Acosta

Mario has written 117 articles.

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