Commercial PropertyMarket Conditions: West Los Angeles, California
Local market expert Bob Waldron says it may be too early to predict how the West Los Angeles market will act for the rest of the year.
There is an unusually high inventory of homes for sale, but those that are priced right are selling, says Waldron.
Consumer confidence is low, he says, but the market will rebound once buyers start to feel better about the economy.
Sellers, he says, need to realize we are in a buyer"s market and price their home accordingly.
Those who understand this and who are highly motivated will be able to unload their homes.
Waldron foresees this buyer"s market continuing throughout the year and possibly longer, though not all areas are equally affected.
The Westside of Los Angeles seems to have avoided the sever down-markets found in the Inland Empire, San Bernadino and Riverside Counties.
Waldron says the lack of new development has resulted in less decline in Westside Los Angeles.
For more information, contact Bob Waldron
www.BobWaldron.com
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