Tim Braun - Compass

06/07/2023

JUNE 2023: How's the Market?

Sales are down 40% year over year in Los Angeles. Mainly attributed to higher interest rates. Many homeowners either purchased or refinanced in 2020-2021 when rates were at an all time low.

Buyers in the $1-2m are feeling the most crunch since inventory is so slim and the buyer pool is high. Supply and demand! With less homes to choose from, buyers are having to go over asking and compete with multiple offers.

Buyers in the $3-5m category have more breathing room -- more time on market and less competition.

Our biggest question mark moving forward is WILL INTEREST RATES DROP AND WHEN? If we see a 2% drop in interest rates, there will be a FLOOD of buyers entering back into the market, which is will make our inventory problem even more apparent.

Bottom line:

Buyers -- if you are ready to buy today, DO IT. If you wait for rates to fall, you might face too much competition from other buyers who also were waiting. You can always refinance down the line.

Sellers -- talk to a realtor and keep an eye on rates. You might be able to sell your home for way more than you expected if inventory stays low and demand rises.

05/24/2023

NEW LISTING -- Super cozy detached guest house for lease. Everything is brand new and ready for immediate move-in. Reach out for showings!

05/22/2023

truly love this trend of open shelving in front of a window. works especially well in kitchens and bathrooms to show off plant family.

05/19/2023

Super cute new lease COMING SOON in a quiet little pocket of Valley Glen. Reach out for more info!

05/17/2023

Wondering what it would look like to buy a house in Los Angeles?

Check out my Buyer's Experience for a step-by-step guide of the process:

What to expect when buying a home in Los Angeles? You have been looking at homes in your neighborhood on Zillow and Redfin for a while. You start looking in other areas. Widening the search. Townhomes. Houses with pools. Could I live in Altadena? Hours pass. You are checking the sites daily for new

05/09/2023

Hey Tim, what should I know about the LA real estate market?

Well …this.

Prices are down slightly from last year BUT the number of homes sold is down over 35%. That means almost 1,000 less homes sold in the first 3 months of 2023 vs 2022.

With tight inventory, it’s an amazing time to sell.

Buyers — you know the drill. Buy when it’s right for you but expect fewer options now than years past.

Reach out with questions!

[email protected]

05/05/2023

pretty interesting update on the LA MANSION TAX.

If you didn't know, starting April 1, ALL commercial and residential home sales over $5million were subject to a 4% tax / over $10million...5.5% tax.

March was a frenzy... 126 sales over $5million in LA COUNTY.

April... 2 SALES. 2?!?!

You may ask, how can that be possible? Well, sellers simply don't want to pay that tax so they are holding their properties.

Ok, ok but Tim... I am not buying a $5m home, so this doesn't affect me. Well, it just might.

Hear me out.

Many homeowners make "step up" purchases over the years. So all the homeowners who own $3M home and are considering stepping up to a $5m home...well now there is no inventory for them, so they will stay put. Thus, impacting the $3m home inventory. All the homeowners in the (extrememly hot) $1.5m category see decreased inventory in the $2m-$3m and decide not to move, rather invest in an ADU or add-on to their current property. It puts a strain on the already low inventory market we are currently in.

I completely agree with motive behind the tax: to help those who are unhoused find stability. Helping others who are in need strengthens our society as a whole.

I do think ther could be some middle ground here to not impact the housing market as a whole. What do you think?

After a white-hot March, L.A.'s luxury real estate market ground to a halt in April when Measure ULA kicked in, leaving the city with less money than originally projected.

05/01/2023

What is the best month to sell your home? IT'S GONNA BE MAY.

Statistically speaking, May is the best month to list and sell your home. You’ll sell faster due to a higher number of buyers in the market, and you’ll make more money.

How much more?

Homes sold in May nab a 12.6% seller premium on average—meaning they sell for 12.6% over their market value. To put that in perspective, the average U.S. home value is $334,269. If the owner of that home sold it in May, they could end up with an extra $42,117 in their pocket.

What would you do with an extra $42,000? Let’s find out.

04/28/2023

Hey Tim! What are the interest rates looking like today?

Well… 4/28 a 30-year fixed rate is looking like 6.92% (a touch up from last week).

Buyer demand in LA is still strong. so you will need a game plan to get the home you want. DM me and let’s strategize!

04/27/2023

green bathrooms. yay or nay?

(personally I am a hell yay)