Observations from a Beverly Hills Realtor: Endre Barath,Jr....
By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
As we count down the final days of 2023, I wish you peace and enjoyment as we enter the holiday season. While most focus on the holidays, savvy buyers and sellers continue to watch the economic reports to gauge what the Real Estate market is doing. With interest rates now hovering between 6% to 6.75%, potential buyers have once again been given the potential to purchase homes that a few months ago seemed out of reach. A drop from 7.5-8.0% makes a significant difference to a buyer's purchase power. In more news, the Federal Housing Finance Agency (FHFA) has announced that the loan limit for Fannie Mae and Freddie Mac mortgages in 2024 will increase in high-cost areas such as Los Angeles to $1,149,825. This is good news for both buyers and sellers. On a side note, this is the 8th cons...
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