Real estate prices are correcting in Los Angeles

After a startling rise in prices over the past several years, home prices in L.A. are dropping. My real estate agent tells me homes he showed a month ago at $899,000 are now $799,999 and that this drop started about a month ago with prices now 10-15% lower.

My condo just went into escrow. By previous L.A. standards, it took an eternity to sell – over three weeks. Two months ago it probably would have sold in a week, and at a higher price. Given the psychotic increase in price in the 33 months I owned it, I’m hardly complaining. 

Why did I sell the condo?

Because Miss Monica (Sue Slater) and I are getting married Dec. 30, that’s why!

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