California Real Estate Agent Projections For Investors in 2022?

California features many desirable communities that make the state one of the prime places to buy or invest in real estate.

This is especially true in Los Angeles, where communities, such as Hollywood, Mar Vista, Topanga, Santa Monica, and Marina Del Rey, feature some of the best real estate in the U.S.

Right now, the market is white hot, but will simmer to red hot by the first of the year.

At least, that is the projection of the California Association of Realtors (C.A.R.) Real estate professionals in C.A.R. see a slight decline in the sales of single-family homes in 2022. 

However, the median home price is forecast to rise by 5.2% in 2022. As a result, some California residents will switch to living in more affordable areas, as the trend of remote work continues.

This directional swing will keep prices in check while preventing the statewide median price from escalating too quickly.

A slight decline in 2022 sales from the fast pace of house sales in 2021 may prove to offer some relief to real estate investors who may have felt some stress from the keener competition.

Plus, the lending environment still favors property sales, thanks to lower interest rates.

The Demand for California Properties Is High

Provided the pandemic continues to wane, a cycle of recovery will follow. Home demand in California is high, so now, when prices are slightly lower (and interest rates are attractive), is a good time to look at what’s available online. 

California provides an excellent venue for investing in real estate. For example, Los Angeles, which is home to 4 million people, has something for everyone of every lifestyle.

You also have easy access to the desert, ocean, and mountains. The city also features cultural diversity.

Whether you buy condos, focus on single-family homes, or plan to buy a larger property, you can find what you’re seeking as an investor or buyer.

Dual Agency

When you invest in California real estate, the same agent may represent the buyer and seller. Therefore, an agent can serve as a dual agent, as long as he or she receives authorization, in writing, from the buyer and seller.

While dual agency streamlines the sale and purchase of real estate and prevents communication issues, you have to remember that an agent may find it difficult to remain neutral.

He or she may find it tough to act in the best interest of both parties, which, in some cases, could make negotiation difficult.

Keep the above info in mind if you plan to look at real estate in LA and the surrounding area.

Know what to expect so you can make wiser investment decisions, both online and offline.