November 8, 2024 #1 Local News, Information and Event Source for the Century City/Westwood areas.

TO SELL OR NOT TO SELL

MaryLu  Tuthill
Kathleen  Tuthill

Real estate remains a solid investment, especially in light of the recent stock market gyrations. But, should Westsiders get into the market, as either buyers or sellers, in these volatile times? Westside Today queried two top real estate agents to find out.

Michael Edlen and the team of Mary Lu and Kathleen Tuthill have been fixtures in Westside real estate for decades. Each brings years of experience and skill to their trade and each remains cautiously optimistic about property.  

If you’re a potential home seller, they advise you to ask yourself, “Why sell my home?†If you want to sell your home then it might be advisable to wait until this downward cycle is over. “Real estate behaves much like a commodity; it has its cycles,†says Edlen.

Strong or not, “spring is the best time to list your home. It is the busiest time in real estate. If you have to sell now, there are buyers with a genuine need who are still looking, now through Thanksgiving,†say the Tuthills.  

For the motivated seller, fall can be a good time to list your home “because we typically sell quite a few homes between October and the week before Thanksgiving,†says Edlen.

The news is better for buyers. “There are a lot of well-priced homes available,†advises Edlen.  “Most homes are not selling immediately. Qualified buyers, who are ready to move when their expectations are met, can get a good value on a home without much competition,†according to the Tuthills.  

Whether you’re buying or selling, working with real estate professionals is to your advantage. As a recent home buyer told me, “The MLS doesn’t tell you everything. An experienced realtor can give you the inside scoop and help you through the negotiations and paper work.â€

Great. Now you and your agent have found your dream house. Can you finance it? Loan broker Monique Braud Peace gives a qualified “yes.â€

“This market is extremely volatile. I’ve seen loan programs and guidelines change on a daily basis.†Even though the days of the stated-income loan are gone and credit markets are tight, there are still loans to be had – for a price. “Most jumbo fixed-interest rate loans are in the seven percent to eight percent range. There are a few adjustable rate programs with interest rates starting in the low to mid 6 percent range.† 

Throughout Los Angeles and the country, it’s time for buyers and sellers alike to get back to basics when evaluating their home needs.  If you have too much house, put it on the market; its near-term value is no longer guaranteed to rise.   If you’re a buyer, be prepared to present a 20-30 percent down payment and start gathering your financial records; banks are looking at them this time around.  

For more information from those mentioned in this article visit www.MichaelEdlen.com, www.MaryLuTuthill.com and www.MoniquePeace.com

in News
Related Posts

Megacity Review: Genaro Trejo’s Global Platform for Urban Arts and Literature Launches in Los Angeles’ Westside

November 7, 2024

November 7, 2024

Santa Monica, CA – A new voice has arrived on the Los Angeles literary scene with the launch of Megacity...

Chinese Chemical Company and Executives Indicted for Allegedly Fueling Fentanyl Crisis in Los Angeles

November 7, 2024

November 7, 2024

U.S. DOJ Charges Hubei Aoks Bio-Tech and Executives With 13 Counts  A federal grand jury has indicted Hubei Aoks Bio-Tech...

Starbucks Kicks Off the Holidays with Festive Cups, New Drinks, and a Special Surprise

November 6, 2024

November 6, 2024

Returning Classics, Cran-Merry Refreshers, and Expanded Pastry Selections on Thursday Starbucks is ringing in the holiday season with the return...

Lei’d Cookies in Culver City Offers Sweet In-Store Discount For a Challenging Week

November 6, 2024

November 6, 2024

Handcrafted Flavors, Community Spirit: Enjoy Lei’d Cookies’ Limited-Time Offer Lei’d Cookies, a popular dessert spot in Culver City’s Hayden Tract...

Thanksgiving 2024: The Best Places to Order Your Holiday Pies in Los Angeles

November 6, 2024

November 6, 2024

Get Ready for Your Thanksgiving Dinner With the Best Desserts November is the official start of the holiday season and...

L.A. County Election Results: Preliminary Counts as of 4:00 a.m. Wednesday Morning

November 6, 2024

November 6, 2024

Westside Residents Weigh on Representatives, Ballot Measures, Judges and More As of 1:05 a.m., voters in Los Angeles County weighed...

Police Seek Suspect in Vandalism of Jewish-Owned Businesses in L.A.’s Pico-Robertson Neighborhood

November 5, 2024

November 5, 2024

Authorities Investigate Series of Early Morning Attacks as Hate Crime Police are actively searching for a suspect accused of vandalizing...

High Alert: L.A. County Braces for Extreme Fire Weather and Powerful Winds

November 5, 2024

November 5, 2024

Residents Urged To Prepare as Red Flag Warning Goes into Effect  The Los Angeles County Fire Department, Sheriff’s Department, and...

The Willows: 30 Years Going Strong

November 5, 2024

November 5, 2024

Founded in 1994, The Willows Community School, located in Culver City, California, is a Developmental Kindergarten through 8th grade non-profit, co-educational...

The Hammer Museum Opens as Vote Center for 2024 Presidential Election

November 5, 2024

November 5, 2024

Voters Can Cast Ballots or Drop off Mail-in Ballots at the Hammer The Hammer Museum will serve as an official...

Election Day Freebies and Discounts: Where to Eat, Drink, and Watch Election Results

November 4, 2024

November 4, 2024

From Free Doughnuts To Watch Parties, How To Unwind With Election Night Deals With this election day being one of...

DuPont Clinic Issues a Statement After City of Beverly Hills is Held Accountable By CA Attorney General Bonta

November 4, 2024

November 4, 2024

AG Rob Bonta Intervenes in Unprecedented Case, Defending Abortion Access Attorney General Rob Bonta launched an investigation after reports that...

Legendary Music Icon Quincy Jones Dies at 91 in Bel Air

November 4, 2024

November 4, 2024

Celebrated Musician, Producer Leaves an Indelible Legacy By Dolores Quintana Legendary musician, music producer, film and television producer, composer of...

Brentwood’s Beloved New York Bagel Co. to Close After 21 Years at Topa Town & Country Center

November 4, 2024

November 4, 2024

Local Favorite, Designed by Renowned Architect Fred Gehry, Must Vacate by December 31 By Dolores Quintana New York Bagel Co.,...

Academy of Motion Picture Arts and Sciences Lays Off Longtime Archive and Library Staff

November 4, 2024

November 4, 2024

Downsizing and Restructuring Continue, Affecting Employees with Decades of Service By Dolores Quintana Last week, the Academy of Motion Picture...