Silicon Beach Buyer Edge News • 11 18 22
Happy Weekend!
Despite what you might be hearing in the mainstream news, buyers are buying and deals are happening. Congrats to our buyers on snagging a beautiful retreat property in Venice. If you're one of our clients from outside the area and you're shopping in the $5M+ range, I want to make sure you are aware of Measure ULA.
Dubbed the "Mansion Tax," this measure from our most recent election adds a hefty transfer fee to property sales over $5M. I don't know if they've "called it" yet, but the yes vote is currently leading 57.25% to 42.75%. This measure will undoubtedly pass and become law in January, affecting sales starting in April.
This transfer fee will impact sales. Sellers won't sell (less inventory for buyers to buy) or they'll try to negotiate to pass the fee to buyers. This measure presents an extra incentive for sellers to sell and close prior to April, so if $5M+ is your buying price range, Measure M is a lot of reason to buckle down and focus on your search right now.
No matter what your price point is, there are a lot of reasons to be shopping right now. If you're ready to strategize your purchase, schedule time on my calendar or drop in on my digital office hours. Use this link to schedule or this link for more information about drop in digital office hours. 😎👊
Rooting for you!
Tracy & Team Silicon Beach
Local Trendlines
The latest MLS data dropped recently and the stories are all starting to look similar - prices down, inventory up. See a couple of the charts below. All of this is discussed in our recent buyer blog post. Text the word TRENDLINE to 424.228.9969 to start a conversation or to request a custom trendline for any community, zip code or neighborhood. There are lots of ways to slice and dice the data.
You'll hear us talk a lot about trendlines. Why do we make a big deal about them? If the trend favors sellers, it's one negotiation strategy for buyers, and if the trend favors buyers, it's another. We regularly report on Venice, Westchester and Manhattan Beach, but are happy to accommodate requests for custom reports. Read more on GetTheTrendline.com.
Want a trendline report for another neighborhood or property type? Text the word TRENDLINE to 424.228.9969 and we'll get you fixed up.
Real Estate Buyer News This Week
Here are links to a couple of news items we saw this week that might interest you as a property buyer in Silicon Beach:
Some Fun Stuff
Here are a couple of links to lifestyle events and information to help you get to know our community better:
Have a great week!
Tracy & Team Silicon Beach Properties
P.S. Do you know somebody else who wants to buy real estate? Please forward this 💯 buyer-focused newsletter. ❤❤
P.P.S. Listings information presented below is customizable on request. Interested in sold listings, for example, but not the for the city shown? Text the word HEY to 424-228-9969 and we'll get you what you need.
Trending in the right.
