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market prices: "So How's The Market These Days?" - What's your current response to that question? - 09/04/10 02:32 PM
"So How's The Market These Days?" - What's your current response to that question?
This is probably the one question we as realtors get asked the most.
My response to that question has evolved as the market has evolved.
Here in L.A., my usual response is something like this:
"$400k and below market is on fire right now. Anything in that range that shows well and is priced right moves quickly. Alot of FHA buyers out there right now. Million plus range is a little slower. But interest rates are unbelievable which is bringing the buyers out there"
What are … (95 comments)
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market prices: "So How's The Real Estate Market?" What's your usual answer to this question these days? - 04/08/10 12:37 AM
I get asked this question so much.
For varying reasons.
Sometimes it's because people are genuinely curious.
Other times it's a loaded question where the person asking me is a total "Debbie Downer" and needs affirmation of their negative outlook on the world.
For these kind of people when I state the market is pretty fair, they have a pre-loaded response like "well, that's not what I hear" or "my brother-in-law says the market is in the dumpster".
There's always someone who needs to make themselves appear like the authority figure when in fact they wouldn't know the real state of … (16 comments)
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market prices: THE MARKET VALUE OF YOUR HOME IS DETERMINED IN SEVERAL WAYS: - 07/21/09 03:45 PM
The market value of your home is not:
• What you have in it
• What you need out of it
• What it is appraised for
• What you heard your neighbor’s house sold for
• What the tax office says it is worth
• What it is insured for
• Based on memories and treasures
• Based on prices of home where you are moving
The true market value of your home is….what a Buyer is willing to pay for the property TODAY:
• Based on today’s market
• Based on today’s competition
• Based on … (38 comments)
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market prices: LA Times: We have hit bottom and home prices have started to climb............. - 07/16/09 10:24 AM
Southern California home prices may have finally hit bottom, with median values rising last month for the first significant increase in two years, new data show.
Along with the 6.4% rise in prices from May, fewer than half of the sales were foreclosures -- the first time that has happened in nine months.
The percentage of homes that sold in June for more than $500,000 rose to about 20% of all homes purchased, up from 18% in May.
The median home sales price has been leveling off all year, hovering around $250,000 for five months before June's 6.4% increase over May's … (0 comments)
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market prices: California Home Prices rise for 3 straight month - Number of homes sold is up 35% from last year - 06/26/09 09:22 PM
I read some great news from the Wall Street Journal (which by the way coincides with my blog that we've hit bottom about 3 months ago).
California's median price for an existing single-family house rose for the third straight month, a sign that the state's battered real-estate market may be bottoming out.
The median sales price increased to $267,570 in May for a California home, an increase of 4.2% from April, according to a report released Thursday by the California Association of Realtors. The inventory of unsold houses continued to drop, to 4.2 months' supply in May compared with 4.6 months … (0 comments)
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market prices: What's REALLY going on in the Los Angeles real estate market. - 06/24/09 11:52 PM
The media is always on the real estate subject.
Up through the end of last year, it was all doom and gloom coverage. Since the beginning of this year it has been about signs of recovery.
And of course the media has the highest amount of expertise with what is really going on in the Los Angeles market, right?
WRONG!
I work as a Realtor 12 hours a day, 7 days a week. I've been working that many hours for the last 2 years.
I'm in the trenches, working the neighborhoods, doing the showings, opening and closing the escrows, writing the offers, … (3 comments)
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market prices: Buyers: Get used to writing at or over asking.....the shift has started - 05/29/09 12:59 AM
I have so many buyers right now that are going through a psychological struggle in their original perception of what the Los Angeles market is like, versus the actual reality.
We have really fired up in the $450k and below market!
Some buyers are having a hard time when the properties they are interested in are going into escrow quickly and/or with multiple offers.
Some are still thinking you can get a property for well below asking.
But it usually sinks in after they lose the 2nd or 3rd property that they need to step up to the plate if they … (0 comments)
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market prices: Gain Seen In Pending Home Sales, Housing Affordability Sets New Record - 04/06/09 09:22 PM
Gain Seen In Pending Home Sales, Housing Affordability Sets New Record
National Association of Realtors
WASHINGTON, April 01, 2009
Pending home sales have edged up, hinting at a possible pickup of sales activity in coming months, according to the National Association of Realtors®.
The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January, but is 1.4 percent below February 2008 when it was 83.3.
Lawrence Yun, NAR chief economist, said the market is continuing to underperform. "Pending home sales have a way to go for … (0 comments)
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Ralph Gorgoglione - California Real Estate (800) 591-6121
Los Angeles,
CA
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John Aaroe Group
Address: Los Angeles, CA
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