The Wall Street Journal claims owners of residential real estate are often better off during times of rapid inflation than owners of stocks or bonds.
In our opinion, home prices have a parallel rise with inflation allowing your assets (single-family homes, condos, etc) to hold or increase in value!
And if you wondered why new construction hasn’t increased in popularity, building material prices have skyrocketed. Therefore, pre-owned real estate is exceedingly financially beneficial — leaving homeowners with less competition from new builds.
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Mortgage Reports highlights the nature of exponentially rising inflation and why there is no parallel to the 2008 mortgage crisis — the difference? SUPPLY AND DEMAND.
Obviously, interest rates are inflating, but what potential homebuyers need to consider is property prices will not fall in the near future. They may stay stagnant but a drop is unlikely due to inventory shortages.
Homeownership is a BIG positive in our current market and r
enters will likely continue to experience rent hikes.
Why purchase now instead of waiting? Even if interest rates rise over 4%, we are still at a historical LOW.
Purchasing now = equity gain, tax benefits, and the ability to lock in a FIXED interest rate!
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According to the Washington Post, inflation is to blame when it comes to the increase in prices across the market, making it a vital factor in your real estate move.
In our opinion, As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial advisor can help keep you and your money safe.
Work with those who know the market best and can give you a better understanding: Local lenders, underwriters, and real estate agents!
Sourced from the Washington Post, Mortgage Reports, and the Wall Street Journal
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Local Events. Stats. Business Spotlight.
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10 Exciting Local Events Happening This May!
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Accents Jewelry! A treasured jewelry box that supports local artists, affordable prices, and unique pieces you won’t find in department stores is situated on Main Street within the heart of Santa Monica. Back in 1987 there was a lack of jewelry galleries accessible to the public, and due to this, founder Steven Hanna envisioned a concept that would bring together many of the designers he had met at trade shows and craft fairs as there were very few jewelry galleries at the time. You could find a perfect gift for Mother’s Day!
Jinya! This is our LKP team member, Paris’s, absolute favorite local restaurant in Santa Monica. She makes their quality very clear “I have tried a number of different ramen spots, nothing even comes close to Jinya's perfection!”
Third Street Promenade! A well known open air shopping location home to the Santa Monica Farmers market on weekends. Serving the market with their produce are hundreds of local vendors, farmers, bakers, fisherman and more!
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Santa Monica's Single-Family Housing Stats
Median Prices are calculated by square footage, lot size, beds & baths, and property age:
- $13,869,444 - 5,902 0.5 - 1 acre - 6/7.5 Bd/Ba - 80 yrs
- $5,897,500 - 3,369 6,500 - 8,000 sqft - 4/5 Bd/Ba - 52 yrs
- $3,450,000 - 2,132 8,000 - 10,000 sqft - 4/3 Bd/Ba - 43 yrs
- $2,175,000 - 1,215 4,500 - 6,500 sqft - 3/2 Bd/Ba - 74 yrs
*Statistical housing stats are sourced from the California Multiple Listing Service pulled by neighborhood zip code.
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Santa Monica Blog
Located just west of Downtown Los Angeles, Santa Monica houses an array of well known tourist spots, upscale dining locations, breathtaking sceneries, and landmarks that have been featured in many Academy Award winning movies.
Read our blog to see Santa Monica's neighborhood businesses, housing stats, and a local's opinion of the area!
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Our Top 10 Mother's Day Gift Options!
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.
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