Towards the end of 2012, when the Presidential election sealed the fate of our re-elected Democrat Prez, CNBC, MSNBC, even FOXLA among other news mediums were inundated with "Fiscal Cliff" rants and banter. As if paranoid "Doomsday Preppers" weren't enough, now we watched in squeamish panic as reputable economic and political analysts blew up the possibility of a fiscal stalemate to apocalyptic proportions. Well, it's 2013 and guess what - just a bunch of hubbub.
In fact, economic indicators and reports that dated back to 2010 and earlier predict 2013 to mark the return of economic prosperity and the upturn out of a recessed/depressed state. Although the economy has contracted 0.1 in the first quarter since last year, the real estate market shows no signs of affect. Having been involved in real estate and both personal and residential finance, I seem the aforementioned statement to be more than self evident when using the current market as a guide. According to a report delivered by Allen Matkins from UCLA Anderson School of Management (My Alma Mater- Go Bruins!), residential and commercial real estate activity is at an all time high.
When using theMLS.com to compare current selling and asking prices as they relate to the same data 6-12 months prior, it is plain to see that the housing market is well on the up and up. Prices are steadily climbing and inventory in most areas of Los Angeles are slim. However, with interest rates and lender incentives being as attractive as they are now, its still an incredibly opportune time to invest in real estate.
So while the CHILLY 55 degree days seem to be sending the entire Los Angelian community through a cold-front panic, in terms of real estate, I'd say its wise to s trike while the iron is hot.