Navigating the Los Angeles Real Estate Market: Key Trends and Legal Tips

Edited by Alexandra Blair May 16, 2017

If you plan to put your house on the market, it is essential to consult your Los Angeles real estate attorney first. With housing prices in Los Angeles reaching historic highs, house flipping and selling have become increasingly attractive. To make the most of the current market conditions, it's important to understand the latest trends and work with your attorney to navigate the complexities of real estate transactions.

Current Trends in the Los Angeles Real Estate Market

Trend #1: Strong Market Conditions

Since 2012, the Los Angeles real estate market has experienced steady appreciation and declining inventory. This is advantageous for sellers, as properties often receive multiple offers if priced correctly. Consulting a real estate attorney can help you set a competitive price and navigate legal requirements.

Trend #2: Increased Interest in Alternative Neighborhoods

Buyers are increasingly looking at neighborhoods they previously overlooked due to rising prices in areas like Inglewood and Marina Del Rey. If your home is in Southside or Eastside neighborhoods, now is a great time to sell. A real estate attorney can help you market your property effectively and maximize profits.

Trend #3: High Demand for Turnkey Properties

Buyers are now more interested in turnkey properties that are move-in ready. This trend has led to increased demand for new constructions and upgraded homes. Legal requirements for purchasing new homes differ from older properties, making it crucial to work with a real estate attorney to ensure compliance and avoid legal issues.

Trend #4: Slowdown in the High-End Market

Properties priced over $50 million are experiencing slower sales. Investors are more cautious, particularly during election years. If you want to sell quickly, it's advisable to price your property below this threshold or consult with your attorney to strategize the best timing.

Trend #5: Focus on Community and Neighborhoods

Homebuyers are prioritizing neighborhoods with amenities like restaurants, parks, and a strong sense of community. Properties in walkable areas near urban centers are particularly attractive. Your real estate attorney can assist in highlighting these features and ensuring all legal aspects of the sale are covered.

Steps to Take Next

Consult Your Real Estate Attorney

Before listing your property, work with a trusted Los Angeles real estate attorney to prepare the necessary legal documents. An attorney can help you draft a clear and comprehensive real estate contract, ensuring all terms and conditions are legally sound.

Clear Title and Address Legal Issues

An experienced attorney will verify that your property title is free from claims, outstanding mortgages, unpaid taxes, or defective deeds. They will also ensure the authenticity of public records and disclosures required during the selling process.

Leverage Market Trends

Understanding market trends allows you to time your listing strategically and set the right price. Your real estate attorney can provide legal insights and advice to help you make informed decisions and maximize your profits.

Staying informed about current market trends and working with a knowledgeable Los Angeles real estate attorney can give you a significant advantage in selling your property. By ensuring all legal aspects are covered, you can navigate the real estate market confidently and achieve the best possible outcome.

For expert legal assistance with your real estate transactions, contact Gomez Law, APC. Our team is dedicated to helping you with all your residential or commercial real estate needs.