The Business And Law Of Real Estate

The United States real estate market has been both a storm and a gold rush. And there are few states in the country that are as intense as California right now.

With demand increases and inventor squeezes, prices have been increasing at a rate that could make any buyer, renter, investor, or landlord take action.

The Business Of Real Estate

Real estate is an exciting but grueling business.

Forbes reports that the average number of takes it takes for a home to close from listing to sale in Los Angeles is 36 days, which has decreased by 28% over the last year. The average number of days it takes for supply to rise up has been 1.9 months. The median sale price of Los Angeles homes has risen by 11% over the last year to $945,000, while inventory declined by 41% and new listings decreased by 15%.

Letters Hanging On String

The average number of days on the market for homes in San Diego is 8 days, nearly half that of last year. The median house sale price in San Diego is $826,000, an increase of 17% from last year, while the number of new listings has decreased by 9% year-over-year.  

The median house sale price in San Francisco is $1.3 million, an increase of 10% over the last year. The supply of homes in San Francisco has declined by 30% over the year and the average number of days on the market has decreased by more than half.

Real Estate Agents Find Ideal Opportunities And Negotiate Win-Wins

The purchase of a property is almost always a significant milestone, whether the property was purchased to live in or as an investment. The work of a real estate agent involves more than finding listings and showing properties to prospective buyers or investors. The purchase of a property is ultimately a matchmaking game that involves large sums of money. The duty of a real estate agent to the seller is to find a buyer who is willing to offer the best price under specific payment terms. The duty of a real estate agent to the buyer is to find a property that meets the client’s specifications and budget. The process can be extremely stressful for both the buyer and the seller, which is why the best representation is an agent that can take on the stress of the process, allowing their clients to enjoy a streamlined experience. 

Real Estate Lawyers Defend Your Best Interests

While working with an experienced real estate agent is crucial in real estate negotiations, working with a real estate attorney is just as important to finalizing the closing. The duty of a real estate attorney is to represent their client’s best interests in the closing of the property while preparing and reviewing the relevant and necessary documents.

It is important to seek representation through a real estate law firm in Orange County, where the average property is of high value. With so much money at stake, no real estate transaction should ever be finalized without legal guidance from a firm like Burris Law. If you are seeking the guidance of a real estate attorney, you can give them a call today.

Burris Law
488 S Glassell St, Orange, CA 92866