LA residents are buying vacation homes…in LA

Instead of buying vacation in exotic, faraway lands, wealthy homeowners are now buying second homes in their hometowns as vacation properties, the Wall Street Journal reports

What you need to know:

  • Wealthy homeowners are starting to buy second homes in their hometowns.
  • This trend has been observed in LA, Miami and NY
  • Busy professionals who can’t be too far from work are driving the trend
  • 2nd homes in town are also great for guests

Thinking a second home in town might be a good idea? A beach house up the coast or maybe a loft in the booming downtown area? Contact investment expert Tracy Thrower Conyers to discuss possibilities.

For more: The Ultimate Staycation? A Second Home in the Same City [wsj]

5 Real Estate Trends to Know Before Selling Your Los Angeles Home

With housing prices in the Los Angeles metro area hitting historic highs, now might be time to make a move and sell your home. But in order to sell quickly and for the best price, take a minute to learn about what’s going on in the market so you’ll have a firm grasp of what needs to be done.

What you need to know:

  • If a property is priced well, there will be multiple offers
  • Turnkey properties are hot sellers
  • New construction is king
  • Look east and south from the beach communities for the new destination neighborhoods
  • Community is big, making condos and other densely-packed neighborhoods popular
  • Access to Metro rail lines and walkability are big sellers
  • Big ticket homes ($5M+) will be slow until the Presidential election when we know more about the direction of the economy
Contact Westchester CA real estate expert Tracy Thrower Conyers with questions about how the current environment might impact your real estate decisions.