In the wake of the real estate recovery that has taken shape throughout Southern California this year, demand for California real estate licenses has spiked considerably. While the numbers are still down slightly year-over-year, real estate officials say that more people applied for California real estate licenses in August since early 2007.
The recession and subsequent housing crisis took a large toll on California, including the Santa Monica luxury real estate market, which prompted many would-be agents to sideline their careers in favor of something more lucrative. In fact, the number of California real estate licensees dropped more than 32 percent from the end of 2007. But after housing prices skyrocketed this year and sales went crazy, it suddenly seemed like a logical time to get back in the game.
Additionally, the commercial real estate sector has worked to regain more stable footing in 2013 as well, and despite the number of brokers’ licenses still being down from their peak levels, they are starting to even out as well. It’s an opportunistic time in California for both residential real estate and the commercial side of things. Foreclosures have started to dwindle, and for much of the year, demand for Santa Monica luxury homes significantly outweighed available supply.
Real estate analysts have watched the market turn around before their eyes in 2013, particularly during the busy spring and summer buying periods. It was common for sellers to receive multiple offers for their properties, and typically, buyers who were successful had a skilled real estate agent by their side who could offer useful advice and a strategy.
Since August, more people have started to reevaluate a career in real estate, putting in their applications to become a licensed real estate agent in the state of California. This is a very positive indication that the market has moved past the darkest hours of the housing crisis and is once again a thriving industry. Markets around the Golden State continue to see renewed interest from buyers near and far, and having an expert real estate agent is one of the best ways to navigate this competitive landscape.
One real estate agent said it well. He adds: “These were some dismal years we lived through, with low liquidity and negative equity, but with improved inventory and favorable interest rates, many brokers who dropped out of the market during the tough times want back in. This is a great time to be in the real estate business. There are many opportunities to get outstanding deals on new homes and development is starting on several local projects that are going to increase the value of existing properties. A lot of people are looking back to real estate in California as a place to invest once again, and now is the time to get in the market.”
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Homes in Santa Monica, California between $4,000,000 and $5,500,000
$4,349,000 : 621 21ST Place, Santa Monica4 beds, 5 baths
$4,415,000 : 1434 Berkeley Street, Santa Monica0 beds, 0 bath
$4,450,000 : 2423 4TH Street, Santa Monica0 beds, 0 bath
$4,470,000 : 1444 15th Street, Santa Monica0 beds, 0 bath
$4,500,000 : 241 MARINE Street, Santa Monica0 beds, 0 bath
See all City of Santa Monica Luxury Homes For Sale.
(all data current as of 10/22/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.