March 6, 2021 Breaking News, Latest News, and Videos

Yo! Broker: Is the real estate market softening? Who’s got the Crystal Ball?

Dear Yo! Broker,

Every year, my agent has been telling me “buy now, Danny the market is going up. ” So this summer, I went for it. Five seconds after I close on my condo, I go to a party and some other agent is talking about how the market is down. I hate all of you agents, how do you guys truly know where things are going?

      Danny 

Dear Danny, 

You’re right, it’s all very confusing — The short answer is that most good agents look at the numbers. For example, last summer (according to the MLS) roughly 60 apartments/houses were listed for lease. A year and a half later there are 140 apartments/homes, etc, listed for lease. 

What happened? Was it the new restrictions on Airbnb? The new restrictions on rent? Are renters avoiding Venice because of the homeless? “Why” almost doesn’t’ matter Danny. The fact is the rental market in Venice is verging on disaster (at least if you’re an owner).

Ironically, both agents are correct. The real estate market is softening. But given the historical track of California, if you hold on to your condo long enough… you’ll do just fine. 

Good Luck,

Winston Cenac

Got an unusual real estate question? e-mail it to winston@bulldogrealtors.com.

Winston Cenac is the owner of Bulldog Realtors, a boutique real estate brokerage with  90 agents and offices in Venice, Santa Monica and West Adams.

Related Posts

Trader Joe’s Eyes Another Santa Monica Space

March 5, 2021

March 5, 2021

Grocery store interested in space across the street from new Target By Sam Catanzaro Another major retailer may open in...

More Coastal Housing for the Westside?

March 5, 2021

March 5, 2021

More affordable housing may be coming to Westside coastal neighborhoods. Learn more in this video made possible by School of...

Edify TV: Westside High-Rise Nears Completion

March 5, 2021

March 5, 2021

A Westside high-rise checking in at over 30 stories is nearing has topped-out, the first building of this size built...

Police Union Considering Suing City of Santa Monica Over Lack of Citizen Commission Inclusion

March 4, 2021

March 4, 2021

By Toi Creel ] The City of Santa Monica’s Police union is fighting to be included in a committee meant...

Video: Indoor Dining Close to Returning in LA County?

March 4, 2021

March 4, 2021

Indoor dining could return to LA County very soon. Learn more and hear what diners have to say in this...

Santa Monica Teachers Begin Receiving COVID-19 Vaccinations Ahead of Campuses Reopening

March 2, 2021

March 2, 2021

SMMUSD partners with Providence St. John’s Health Center to vaccinate certain educators and staff By Sam Catanzaro Santa Monica-Malibu Unified...

‘Safe Camping’ at the VA is Open To All Homeless Veterans

March 1, 2021

March 1, 2021

The “safe camping” program is geared toward getting homeless Veterans off the streets and provides a way to transition from homelessness to...

Santa Monica Police Warn of Thieves Targeting Seniors Near Palisades Park

March 1, 2021

March 1, 2021

Two elderly woman robbed along Ocean Avenue recently By Sam Catanzaro Santa Monica police are investigating two thefts targeting senior...

Santa Monica’s Zero Emissions Delivery Zone Pilot Has Begun: Santa Monica Beat – March, 1, 2021

March 1, 2021

March 1, 2021

Local news and culture in under 5 minutes. * Santa Monica’s Zero Emissions Delivery Zone Pilot Has Begun * City...

Video: Closing Down Westside Oil Field?

February 26, 2021

February 26, 2021

Officials are discussing closing a Westside oil field sitting on hundreds of acres of prime coastal land. Learn more in...

Pico Neighborhood Affordable Housing Project Breaks Ground

February 26, 2021

February 26, 2021

Over 70 units of affordable housing come to area near Woodlawn Cemetery By Sam Catanzaro A 70-unit-plus affordable housing development...

Large Properties Drive-up Santa Monica Home Sales Amid Pandemic

February 26, 2021

February 26, 2021

Annual report shows single-family home sales rising By Sam Catanzaro Interest in large properties with five-bedrooms or more helped drive-up...

Santa Monica Police Arrest Parolee for Setting Stolen Car on Fire

February 25, 2021

February 25, 2021

Alex Omar Aguirre arrested by Santa Monica Police Department By Sam Catanzaro A Santa Monica resident this week watched as...