Can I time the market? (spoiler alert: no)

Long(er) answer: We still have a inventory crunch here in Los Angeles. There are more buyers than homes for sale.

This is why it is best not to try and "time the market". It is basically impossible to predict. So buy when you are ready and able.

My current advice for buyers is to keep an eye on the homes hitting the market right now. Yes your interest rate might be higher than you would like, but if you can swing the down payment, this could be an excellent time to buy.

Why? Because most buyers will be waiting for those rates to creep down. Then when the rates do dip, there will be a flood of buyers hitting the market at once, driving up prices. Wouldn't you rather buy now with less competition? Then you can refinance when the rates dip while those other buyers who waited are still searching and bidding.

Sellers... you do have a unique advantage in this market. If you need to sell, then make sure you are prepping your home for the market. New landscaping, fresh paint and staging is what it takes for multiple offers in this market. Long gone are the days of completely rehabbing your kitchen or bathrooms -- buyers are fine with character (and in the $1-1.5m range, they are expecting it).

If you are considering selling in this market, let's talk. I would love to chat with you about the pros and cons of letting go vs holding.