Things Are Looking Up!
By Cindy Ortiz, Staff Writer
Ranking in the top 1% of real estate agents, featured in several publications for her excellent work, and a consistent award-winner since 1988, Tammy Jerome has been serving the business for over twenty years and is still going strong. Recently, I sat down with Tammy Jerome to discuss the state of real estate.
Jerome has received numerous awards and recognition for standing out in her business. Although there has been an economic meltdown, she opines that the real estate market has been in recovery mode for over a year.
“Nearly seven years after the housing crisis started (at the beginning of 2006), we’re experiencing a steady rebound. Since the fall of 2011 there’s been a gradual increase in activity. However, there is a very limited inventory of homes for sell today (down now to 3-4 months’ supply versus a 12-18 months’ supply in the last few years),” Jerome says. “In addition, interest rates are historically low (3.6%–4%). It’s no wonder that buyers are flocking to buy. Simply put, the forces that dictate the market dynamic are: supply and demand.”
Jerome adds that first-time buyers are now buying rather than leasing, which creates multiple offers and bidding wars.
“For the first time since 2007 I see multiple offers coming in over the asking price,” Jerome says. “That is refreshing. We’re on our path back to stability.”
A great number of foreign and local investors, she says, are interested in buying properties in this environment. But then again, who wouldn’t want to move to a beautiful home in sunnySouthern California?
Why is Jerome the best at what she does? Not only does she have practice in her skill, she is also heavily involved in social media, which exposes her brand in the market. LinkedIn, Google +, Facebook, and Twitter are only a few among the plethora of resources she provides for her services.
Above all, however, her website gives out the most resourceful information. Sellers and buyers are presented with quality information from tips on selling, a blog of her recently available properties, to her listings in cities such as StudioCity, Sherman Oaks, TolucaLake, ValleyVillage, and Encino. For a listing of Jerome’s properties, visit: www.tammyjerome.com or call her at (818) 903-5854.
She says that it is one of the best times to purchase a home, now more than ever before. “Even though the market took a beating in the last six to seven years, after all is said and done, we all have to live somewhere,” Jerome says, “and certainly owning your own home is still a tangible and wise investment in the long run.”
“The market is experiencing much more positive energy,” Jerome says. “Things are looking up!”