Buyers! Now is the Time to Buy! Prices are the Lowest they have been All Year – Santa Monica Real Estate

Buyers, if you have been waiting on the sidelines to purchase a home in Brentwood or Pacific Palisades – now is the time to jump in, according to the latest statistics from Altos Research.

Median Price in the Pacific Palisades was at $2.3 million at the start of the year. It is now down to $1.97 million, a 14 percent decrease. The figures are even lower in Brentwood. Median Price at the beginning of 2011 was $2.4 million. Now it has dropped a dramatic 25 percent to a new median price of $1.8 million.

Combine these low prices with extremely low mortgage rates and you have a great incentive to invest right now. Recent reports have suggested that mortgage rates might start climbing and it is practically impossible to time “the bottom of the market” in real estate. It usually cannot be realized until it has passed you by.

So again, I strongly encourage all you buyers sitting on the fence to make your move now. Call me at 310.395.0113 to assist you with your acquisition.

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