- calendar_month January 9, 2024
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90016, 90016 Housing Market, 90016 Real Estate, Financial Planning, Future Homeowners, Long Term Investing, New Year Homeownership, Real Estate Investment, Real Estate Opportunity, Savings For Child, West Adams, West Adams / Los Angeles, West Adams Homes, West Adams Real Estate
Greetings, West Adams residents and future homeowners! Nathan Derry here, your dedicated Realtor from JohnHart Real Estate. As we bid farewell to 2023, let's delve into the real estate landscape of West Adams, 90016.
In the vibrant community of West Adams, the numbers paint an intriguing picture. For the month of December 2023, we observed a robust absorption rate of 50%, signaling a dynamic and healthy real estate market. Among the 30 active listings, 15 properties found new owners, reflecting a balanced equilibrium between supply and demand. The average sales price stood at $1,000,000, and homes spent an average of just 25 days on the market. These figures denote a sought-after neighborhood where homes are not only coveted but transactions are swift.
The Golden Opportunity: Starting a Savings Fund for Your Child
As we embrace the prospects of a new year, it's an opportune time to consider long-term financial planning, and what better way than securing the future for your child? Here's why starting a savings fund now is a gift that keeps on giving:
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Compound Growth: Time is a powerful ally when it comes to investments. By starting early, your child's savings can benefit from the magic of compound growth.
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Educational Expenses: Whether it's college or vocational training, having a dedicated savings fund can alleviate the financial burden of educational expenses.
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Financial Education: Involving your child in managing their savings fosters financial literacy and responsibility from an early age.
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Emergency Fund: Life is unpredictable. A savings fund can serve as a financial cushion during unexpected events.
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Homeownership Goals: As your child grows, they might dream of homeownership. Your early savings could contribute to a down payment on their first home.
Seizing Real Estate Opportunities in West Adams
As we navigate the real estate market, it's evident that West Adams is a community on the rise. The current absorption rate indicates a favorable environment for both buyers and sellers. If you're considering a move or investment in West Adams, now might be the perfect time to explore the possibilities.
Feel free to reach out if you have any real estate questions or if you're ready to embark on your homeownership journey. Wishing you all a prosperous and joy-filled New Year!
Best regards,
Nathan Derry Your Neighborhood Realtor
