Yes timing in real estate is important and market values do change. Since September 2012 to 2013 the median home price in Los Angeles has increased 50%. Sales on the upper end of the market is probably tilting the median price scale a bit, but nevertheless the market appreciation is real and values have increased.
Some are seeing the rise in home prices driven by PE money. Others see it as a shoring up of the bottom of the market so that there is a new base level of pricing support and this is the beginning of price appreciation. Either way the home real estate market has attracted worldwide money that is investing in American real estate, fixing properties, maintaining them and adding capital to improve them. Whether this is an artificial market or the commoditizing of houses is up for debate. Here is the article from the New York Times that lays out the information… Behind the Rise in House Prices, Wall Street Buyers By NATHANIEL POPPER JUNE 3, 2013, 7:23 PM The last time the housing market was this hot in Phoenix and Las Vegas, the buyers pushing up prices were mostly small time. Nowadays, they are big time — Wall Street big. Large investment firms have spent billions of dollars over the last year buying homes in some of the nation’s most depressed markets. The influx has been so great, and the resulting price gains so big, that ordinary buyers are feeling squeezed out. Some are already wondering if prices will slump anew if the […]
This article was printed in the Los Angeles Times and is a great take on the challenges and difficulties in finding both a neighborhood you want to live in and a school for your children. Read on…. See original article at “The Real Race to the Top” L.A. Unified’s grade-school game Getting your child into the L.A. Unified elementary school of your choice involves a lot of planning, patience — and luck. By Leslee Komaiko December 14, 2011 Want to send your child to a well-regarded LAUSD elementary school? Get your notepad ready, and maybe some aspirin too. If money is no object, move — simply purchase or rent a home near your desired school. Residential property. An office where you’re writing a novel won’t do. And don’t take the real estate agent’s word that the school a block away is your home school. Just because you can hear the tether balls being whacked, it doesn’t mean your child is destined to hit those tether balls. (Double-check addresses for home schools here: Oh, and if the school you want is a magnet or, in certain cases, a charter, disregard the above. For that, even money won’t help. You have to […]