{"id":3714519,"date":"2017-07-28T10:37:45","date_gmt":"2017-07-28T14:37:45","guid":{"rendered":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/?p=3714519"},"modified":"2017-07-31T11:29:24","modified_gmt":"2017-07-31T15:29:24","slug":"what-an-interest-hike-means-for-l-a-real-estate","status":"publish","type":"post","link":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/what-an-interest-hike-means-for-l-a-real-estate\/","title":{"rendered":"Mercer Vine: What An Interest Hike Means for LA Real Estate"},"content":{"rendered":"

With the the Fed’s decision to raise interest rates last month<\/a>, many are left pondering the overwhelming question: \u201cHow is this going to affect real estate?\u201d This issue is especially heavy on the minds of home buyers in Los Angeles and New York, as the rates will have direct bearing on coastal homes that are already the most expensive in the nation.<\/p>\n

The Silver Lining of Higher Interest Rates\u00a0<\/strong><\/p>\n

For experts in Los Angeles luxury real estate<\/a>, the higher interest rates are bittersweet. At the end of 2017\u2019s second quarter, the Fed announced that interest would be raised from 1% to 1.25%.<\/p>\n

Even though higher interest rates are indicative of a burgeoning economy, the higher rates mean that obtaining a loan will be more difficult and expensive. Increased difficulty in securing a loan means that fewer buyers will be able to purchase homes, thus slowing the market.<\/p>\n

\"iStock-458461213\"<\/a><\/p>\n

The silver lining, however, is that sellers are going to respond to the slow market by knocking off thousands, or even millions, off of their asking prices in an effort to encourage buyers. With tools like more available credit combined with lower asking prices, the market will likely tip in the favor of buyers\u2014despite the recent interest hike.<\/p>\n

Challenges of Rising Real Estate Interest Rates\u00a0<\/strong><\/p>\n

Experts predict that the recent interest rate increase will not be the last in 2017. One\u00a0 more quarter-point raise is expected by the end of the year, followed by three more in 2018.<\/p>\n

\"Hancock_Park-12\"<\/a><\/p>\n

Economists foresee at least two challenges resulting from the higher rates. The first challenge is that lawmakers might overestimate the economy and make changes prematurely. If lawmakers make changes too quickly, the market may falter. Another challenge that may arise is raising rates too slowly. If the market suddenly starts to improve and rates are not raised fast enough, this may cause the economy to overheat.<\/p>\n

Interested in Politics and Real Estate?\u00a0<\/strong><\/p>\n

Read how recent legislation like the Dodd-Frank Act<\/a> might affect Los Angeles luxury real estate. Stay up-to-date on the latest market trends<\/a> or contact one of our top real estate agents in Los Angeles<\/a> to help you navigate the ever changing world of real estate.<\/p>\n

Mercer Vine is the exclusive agent representing the\u00a0Pacific Palisades, California real estate market as a member of the Haute Residence Real Estate Network.\u00a0View all of their listings here.<\/a><\/em><\/p>\n

Images courtesy of Mercer Vine<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

With the federal reserve\u2019s decision to raise interest rates from 1.0 percent to 1.25 percent, L.A. real estate is bound to change. How will it affect the market.<\/p>\n","protected":false},"author":95,"featured_media":3714520,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1749,750],"tags":[486,13286,131,13285,109],"class_list":["post-3714519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hlrn","category-real-estate-talk","tag-california","tag-interest-rates","tag-los-angeles","tag-mercer-vine","tag-real-estate"],"acf":[],"yoast_head":"\nMercer Vine: What An Interest Hike Means for LA Real Estate<\/title>\n<meta name=\"description\" content=\"With the federal reserve\u2019s decision to raise interest rates from 1.0 percent to 1.25 percent, L.A. real estate is bound to change. 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