The real estate market in Los Angeles is strong, healthy and is showing no signs of slowing down. It attracts buyers not only from all over the country, but from all over the world. It’s not just sunshine, beaches, great weather year-round that attracts its buyers, it’s also SoCal’s economy.
For decades, it was the entertainment industry that dominated, but these days with Silicon Valley saturated, many tech start-up companies are moving over to Silicon Beach which includes Santa Monica, Venice, Marina Del Rey, Play Vista and Culver City.
The influx of buyers, primarily Millenials from well-funded start-ups, represent the majority of the buyers’ pool, with the balance being either trust fund beneficiaries and ultra-rich hedge fund managers, as well as an abundance of developers and investors, be they local or from abroad.
And because we’re in a sellers market, where there can be upwards of 30+ offers on any single property, there is a pool of buyers that doesn’t belong in any of the above referenced categories, other than being Millenials. These young people, or young couples, either newly married or starting a family, find themselves in the proverbial red ocean situation (the concept of red ocean/blue ocean refers to an ocean filled with sharks, like a bloody feeding frenzy, vs calm and clear waters).
This can be discouraging for many, who are making an honest living and do not benefit from the “unicorn start-up funding” or the trust fund.
At the Til Real Estate Group, heralded by Noëlle Hettlinger Til, who has represented more of these young buyers than most agents, and having herself also experienced that competition, the attention is brought to the individuals and how to create a “blue ocean”, where the offer may not necessarily be the highest, but will be the best, the strongest, the one that wins in multiple offers.
More than just the vision and passion of one individual, it’s also the outcome of a powerful network, a powerful team of real estate superheroes, starting with a great lender, efficient inspection teams, and knowledge of the intricacies and nuances of contract negotiations, maintaining and nurturing relationships. Tech won’t replace that. It can augment your searches and possibilities, but it won’t give you the ear, the soul, the empathy of individuals like Noëlle and her supportive team members!
Read what some of her clients have to say.