Activity in the high-end Luxury market in the West side of Los Angeles:Since January 1, 2007 there has been an astonishing change in the motivation of buyers in the high-end market.  No longer sitting along the sidelines, everyone is a quarterback. The average of 6 accepted offers in the last 3 weeks was $250,000+ over the asking price!  A probate listing I represent sold for $100,000+ over the asking with a 3 week escrow.  It was, at best, a major fixer-upper. After the doldrums of the market of 2006, this is a remarkable change.  Whether it is due to overall consumer confidence, or the Fed's caution in raising the short term rates, buyers seem fearless and far more motivated.  With the early Spring market taking off like a rocket, I suggest to buyers and sellers that they become suffi... 02/07/2007

Based on a number of recent phone calls from old clients, it seems the market here is bringing some buyers back. This apparently is due to stable interest rates and the fear the bottom may be coming around the end of Spring 2007. I've had many buyers that have waited for this very market condition. 11/16/2006