Greetings, fellow real estate enthusiasts! I'm Nathan Derry, a dedicated member of the JohnHart Real Estate team. As we delve into the captivating realm of Mid Wilshire, 90036, join me on a journey that unveils the latest market dynamics for July 2023. In this blog, we'll not only explore the exciting numbers but also unravel the significance of fire and earthquake insurance, along with clarifying the common misconception about umbrella insurance policies.

Market Snapshot / Mid Wilshire, 90036

Amid the vibrant atmosphere of Mid Wilshire, 90036, July 2023 showcased intriguing real estate activity. With 11 active listings and an impressive 11 properties sold, the market roared with life, exhibiting a remarkable absorption rate of 100%. This balanced ratio of supply and demand underlines the allure of this neighborhood for both prospective buyers and sellers. The median sale price of $2,000,000 further attests to the desirability of Mid Wilshire, while the average days on the market, standing at 33, highlight the brisk pace of transactions that define this dynamic community.

Protecting Your Investment: Fire and Earthquake Insurance

In the heart of California, the importance of insurance cannot be overstated, particularly when it comes to safeguarding your property against unforeseen events. Mid Wilshire, like much of the state, is not immune to the risks posed by wildfires and earthquakes. Fire insurance offers a vital shield against the devastation caused by wildfires, ensuring that your haven remains intact, while earthquake insurance provides reassurance in the face of seismic activity, covering the damages that may result from such events.

Clarifying the Umbrella Insurance Misconception:

A common misunderstanding among homeowners is the notion that any type of insurance serves as a catch-all umbrella policy. It's crucial to differentiate between specialized policies like homeowner's, fire, and earthquake insurance, each tailored to address specific risks. An umbrella policy, on the other hand, offers a broad layer of liability protection that supplements existing coverage. While each type of insurance is essential, it's vital to recognize that they serve distinct purposes and contribute to a comprehensive safety net.

As we conclude our exploration of Mid Wilshire, 90036, the message is clear: real estate is an investment in both dreams and security. The robust market activity and the impressive absorption rate emphasize the desirability of this community. By prioritizing fire and earthquake insurance and understanding the nuances of insurance policies, you're taking crucial steps toward protecting your investment and your future. If you're seeking expert guidance or insights on real estate matters, don't hesitate to reach out to me, Nathan Derry, at JohnHart Real Estate. Remember, being well-informed and protected is the key to your real estate journey.