In spite of the extended slump of prices in the California housing market last month, West Los Angeles homes have increased in median price. Article below…
Sellers Respond to ’09 Housing Market by Choosing Realtors
According to the latest survey of home sellers by the California Association of Realtors,
Changes in family and employment status as well as adjustments to monthly mortgage obligations played significant roles in California’s homeowners’ decisions to sell their homes in 2009.
With home sellers facing ever-changing federal housing legislation and a tightening market,
Sellers responded to the challenges of the housing market in 2009 by choosing to work with realtors for guidance and assistance in navigating the complex market…Recognizing the value of working with a real estate professional, 99 percent of sellers chose to work with a realtor, according to the survey. Of those, 72 percent cited the ability of an agent to sell the home at a higher price point as the primary reason. Other reasons included better marketing and exposure (38 percent), while 28 percent reported it was too difficult to sell the home independently.
With the Santa Monica and Los Angeles housing market being one of the most complex in the nation, home sellers will be increasingly leaning on real estate professionals in the coming year.