LA Digs - Northeast LA Real Estate Blog

There couldn't be a better gift for your Valentine than a house! But is this a good time to buy?

The best time to buy a house is when you think about it, almost or already have the money together, and see a house you like. But how about the market? Isn't it time for the bubble to burst?

Here are some facts for you to chew on as you consider your options:

For real estate in Northeast Los Angeles (zip codes 90041 (homes in Eagle Rock), 90042 (homes in Highland Park) and 90065 (homes in Glassell Park)):

Average sold price increased 9.6% from November - January 2015/16 to Nov-Jan 2016/17

Has the Northeast Los Angeles real estate market been affected post election? Is the fact that premium homes in Highland Park, Eagle Rock, Pasadena and elsewhere are selling quickly with a dwindling inventory telling us something has shifted? If so, what is changing?

As of about a month after the unexpected results of the Presidential election, we continue to see things happen that were not predicted. The biggest change in the real estate world right now seems to be an uptick in mortgage interest rates. Rates have gone up around ½ to ¾ percent. I’ve talked to several lenders over the last few weeks and no one really knows what will happen next. Will they keep going up? Will they go down? Who knows? But it doesn’t look good for those of us who didn’t get around to refinancing at under 3.5%.