Mr. Rogers' Neighborhood
Sept '07 Excerpt from Plug LA Magazine, By Chad Rogers for PlugLADaily.com
I have a news flash, the real estate is softening! How did this happen? Was it because buyers were more concerned with their monthly mortgage payments than the over-inflated prices? Do you blame the real estate agents? The lenders? The only way that I can answer this question is with a question. Did buyers in the last 5 years get accurate real estate advice? Did real estate agents educate them on the market conditions?
I feel that a lot of buyers who bought homes in the last 3 years were given 3 to 5 year low interest rate loans that they should never have been given. These buyers could afford their monthly payments, but they couldn't afford the over-inflated purchase prices. Now their loans are starting to adjust to the new interest rates and we are clearly seeing a market change. The supply and demand curve has shifted and something is happening that hasn't happened in a very long time. Loans are being defaulted on left and right. There are more homes on the market than buyers!! It is now turning into a buyer's market!! Just know that if you are currently looking for a home, you should be very well informed by your real estate agent with regard to the market. You can always count on Mr. Rogers at Hilton and Hyland in Beverly Hills when you want the right real estate advice!!
Lately, you can find me eating at Inaka on La Brea. My client and "interior designer to the stars" Jonathan Barnett introduced me to the restaurant a few weeks ago, and now my girlfriend and I are obsessed with it. They serve the tastiest Japanese organic macrobiotic cuisine this city has to offer at really reasonable prices. Try the Chilean sea bass because it melts in your mouth like butter. Order the special tea called Ume Sho because it is really good for your skin. It's a traditional Japanese drink used for centuries to promote good health. It's made from a mix of organically grown nora umeboshi, organic nara shoyu and organic miso leaves. The waitress told both my girlfriend and I that all of the models come in and drink it. That was all I needed to hear!!
It's a wonderful day in my neighborhood. |
