Fall 2024 Issue

“Life is about timing.” – Carl Lewis

Dear Friends and Family,

Forty years ago, the 1984 Olympics lit up Los Angeles, leaving unforgettable memories etched in the minds of many. I still recall the image of torchbearers carrying the flame across the nation, including Louie Zamperini’s poignant run through Torrance. Moments like these are priceless. The Olympics evoke a spectrum of emotions—from anticipation and anxiety to euphoria and joy. Gathering with friends and family, we were swept away by the highs and lows of the games, often moved to tears by the triumphs of our favorite athletes.

As much as I enjoyed the Paris Olympics with the Eiffel Tower serving as a stunning backdrop for beach volleyball, my excitement for the 2028 Games returning to LA is growing. With stadiums aplenty, the city will be buzzing with energy, reminding me once again how fortunate I am to call this place home.

Much like the emotional journey of the Olympics, buying or selling a home brings its own wave of emotions. The stakes are high, especially in LA, where entering the real estate market can be as challenging as making an Olympic team. However, there’s good news on the horizon. Mortgage interest rates have been on a downward trend since August, instilling confidence in sellers who are now listing their homes with renewed resolution. Now sellers can sell and purchase the move-up home they’ve been waiting for. This increase in inventory is a breath of fresh air for buyers, offering more choices and potentially less competition. Homes lingering on the market longer give buyers more negotiating power. When market conditions shift, strategies must adapt. Like athletes who prepare for years to seize their Olympic moment, timing also plays a crucial role in real estate. Whether you’re buying or selling, aligning your actions with the right market conditions can make all the difference.

New loan products are emerging, designed to give buyers a competitive edge or assist with down payments. Expert forecasts suggest a more moderate home price growth over the next five years, a welcome shift to a slower, more sustainable pace of appreciation compared to the double-digit surges of recent years. This is deceleration, not depreciation. Los Angeles is expected to see an average gain of 5% in home prices for 2024.

As housing supply increases, affordability improves, gradually softening the strong seller’s market. Are you feeling the desire to move from spectator to homeowner? If you’re ready to take that next step, I’m here to help you develop a tactical plan to secure your next win.

May you find strength and joy in every challenge this season!