Real estate Prices Hit New Records

2015 has been a true seller's market and yet 2016 is on track to be even hotter!  Most years, the winter months bring a slowdown to the local real estate market.  However, the market is very active this winter season.  Multiple offers within the first week on the market are still the norm. Interest rates are extremely low - around 3.75% for a 30-year fixed loan.  Buyers want to take advantage of low interest rates while they can and they also fear prices rising even higher.  Almost all neighborhoods in Los Angeles have surpassed their 2007 highs are are setting new price records.