Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley November 20, '09
As we all get ready for Thanksgiving week with family and friends we’re reminded of the sacrifice given by so many over the 234 years.  Remember what we are thankful for... 

Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures 

                        Monthend Numbers

               October '09            September '09          August '09 
Listed           659                             701                           691
Pending        593                             725                           564
Sold             549                             564                           621

The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope Vally.
Dailys*

Month to Date and Projected open Escrows*

Total Active	1,115
Total Active Core Area	740 Under 700 Nov 6 '09
Total Active REO's	187 - 4 added
Total Short Paids	240 - 1 added	Pre-foreclosures
Pending MTD/Projected	371 / 557
Sold MTD	278	Projected - 417 - With 74.9% closing Rate
Sold Last Month	549	Solds are down 24.0% Project from last month

Absorption Rate*
Current Month 1.4 Months
At Last Months Rate 1.6 Months

Historical High 5300+ Mid 2007

Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you!   Call us today.  If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. 

Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.

                                         (Quick Mapping Links for Core Areas)
Palmdale  Lancaster  Ana Verde  Ritter Ranch  Quartz Hill  Leona Valley  Lake Hughes  Lake Elizabeth  

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping.  All figures are Single Family Residential only.

Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley November 19, '09
Real Estate is in the news today with related stories.  New building starts for homes are down which is predictable due to the year end slow down.  However these are mostly national numbers and don’t reflect your local market.  In the Great Antelope Valley Palmdale & Lancaster in Los Angeles County in Southern California are way ahead of the curve.  We have sold over 7,000 homes in 2008 and are already over 8,000 for 2009.  New home starts are up here bucking the national trend.

The other side of the new is Foreclosures again nationality 1 in 7 mortgage holders are in distress at lest behind by one payment.  However the banks are working on improving the short sale process and make some loan modification to stem the tided of some of these bank own homes flooding the market…  In the Antelope Valley we are see a tricle of bank owe home coming on to the market...

Our advice if your are looking to buy a home or have to sell now could be the best time as prices are reduced by 50%.  Selling if you must to get out of a bad Situation don’t hesitate take action now and contact a qualified Short Sales Specialist…

Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures 

                        Monthend Numbers

               October '09            September '09          August '09 
Listed           659                             701                           691
Pending        593                             725                           564
Sold             549                             564                           621

The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope Vally.
Dailys*

New Listings	30
Back on Market	6
Price Increases	2
Price Reductions	8
Pendings	15
Solds	13
Expireds	11
Inactives	2

Month to Date and Projected open Escrows*

Total Active	1,097
Total Active Core Area	723 Under 700 Nov 6 '09
Total Active REO's	173 - 4 added
Total Short Paids	237 - 1 added	Pre-foreclosures
Pending MTD/Projected	353 / 557
Sold MTD	261	Projected - 412 - With 73.9% closing Rate
Sold Last Month	549	Solds are down 24.9% Project from last month

Absorption Rate*
Current Month 1.4 Months
At Last Months Rate 1.6 Months

Historical High 5300+ Mid 2007

Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you!   Call us today.  If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. 

Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.

                                         (Quick Mapping Links for Core Areas)
Palmdale  Lancaster  Ana Verde  Ritter Ranch  Quartz Hill  Leona Valley  Lake Hughes  Lake Elizabeth  

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping.  All figures are Single Family Residential only.

A quick look back at November 2008 from Don's Post.  We are way down in today's market...

Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley November 18, '09
As we move closer to the Holidays we expect to see a slight drop off in activity as buyers ready themselves for Christmas shopping.  Looking back at December 2008 we did see a small seasonal trend.  With the low available inventory this year might be a bit larger but not by much.

This could be a great opportunely for buyers who are having to fight to have their offers to be win.  With the anticipated slowdown savvy buyers could really win big…

Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures 

                        Monthend Numbers

               October '09            September '09          August '09 
Listed           659                             701                           691
Pending        593                             725                           564
Sold             549                             564                           621

The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope Vally.
Dailys*

New Listings	24
Back on Market	6
Price Increases	3
Price Reductions	13
Pendings	36
Solds	27
Expireds	5
Inactives	11

Month to Date and Projected open Escrows*

Total Active	1,093
Total Active Core Area	716 Under 700 Nov 6 '09
Total Active REO's	169 - 5 added
Total Short Paids	244 - 3 added	Pre-foreclosures
Pending MTD/Projected	341 / 568
Sold MTD	247	Projected - 412 - With 72.4% closing Rate
Sold Last Month	549	Solds are down 25.0% Project from last month

Absorption Rate*
Current Month 1.4 Months
At Last Months Rate 1.6 Months

Historical High 5300+ Mid 2007

Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you!   Call us today.  If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. 

Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.

                                         (Quick Mapping Links for Core Areas)
Palmdale  Lancaster  Ana Verde  Ritter Ranch  Quartz Hill  Leona Valley  Lake Hughes  Lake Elizabeth  

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping.  All figures are Single Family Residential only.

According to MLS data for the month of August, existing home sales were up +7.7% vs.  July the prior month, for the first 8 months of 2009, versus the same period in 2008, home sales are up +103%.  The inventory of homes is at about ½ the historical norm at 1,100.  The norm is between 2,000 and 2,500.  The average sales price in August was $133,166.  This is up slightly from July, but down 30% versus one year ago.

Realtors say that homes priced over $150,000 are beginning to sell again.  Local realtors say that foot traffic in the $200,000 to $300,000 range is also starting to improve.  The existing home market above $400,000 though, is very slow, almost no foot traffic at all.  Add it all up, and 75% to 80% of all sales are on foreclosed properties.  The low end of the housing market is flooded with young couples seeking their first home and investors seeking rentals.  The unanswered question that has been overhanging the housing market all year is the often rumored "second wave" of foreclosures.  With supply still very thin, multiple offers on properties are still common.  In the high desert area, 86% of its residents can afford to buy an entry level home, versus the entire state at 67%.  Statewide, supply has also fallen, now down to 4.1 months versus 7.6 months at this time one year ago.  The real problem with shrinking inventory is at the lower end, the entry level portion of the market.  In a survey done by Cal Asso of Realtors (CAR), 40% of the first time buyers say they would NOT have purchased their home if the tax credit was not offered.  

Comment:  Banks continue to hold back housing supply, which is manipulating prices by creating an auction atmosphere.  Thus the 10-15 offers on entry level homes.  The time to toughen appraisal regulations was when home prices and lender risk were high.  That would have been back in 2006.  But now that home values have fallen 50%, the risk of a bad appraisal causing a foreclosure, is so low, it's almost non-existent.  As the market is now, the new appraisal regulations are not helping and are only hurting those that can really afford to buy a home. 

If I didn't know better, I would think that the banks are trying to control the rate of the housing recovery and also control its price appreciation.  How else can you explain the banks holding back supply when they are getting 10-15 offers per home, and at the same time, the average home price is only going up 1.5% per month?  The banks, for whatever reason, are controlling, and holding back, the rate of the housing recovery. 

Recently reported Fannie Mae is giving distressed borrowers yet another way to avoid foreclosure, they would allow eligible homeowners to rent their own homes… The program lets home owners shift the deed back to their lender and then sign a lease to remain in the home called a Deed for Lease.

The endeavor is targeted at borrowers with mortgages owned or guaranteed by Fannie Mae who do not qualify for or can not get a loan modification. Borrowers must live in the home as their primary residence and must be released from any secondary liens.

We believe this if successful could reduced the onslaught of Fannie Mae owned homes hitting the market, however only time will tell if will work…

Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures 

                        Monthend Numbers

               October '09            September '09          August '09 
Listed           659                             701                           691
Pending        593                             725                           564
Sold             549                             564                           621

The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope Vally.
Dailys*

New Listings	41
Back on Market	7
Price Increases	3
Price Reductions	12
Pendings	40
Solds	25
Expireds	8
Inactives	13

Month to Date and Projected open Escrows*

Total Active	1,104
Total Active Core Area	727 Under 700 Nov 6 '09
Total Active REO's	171 - 9 added
Total Short Paids	256 - 4 added	Pre-foreclosures
Pending MTD/Projected	318 / 561
Sold MTD	226	Projected - 399 - With 71.1% closing Rate
Sold Last Month	549	Solds are down 27.4% Project from last month

Absorption Rate*
Current Month 1.4 Months
At Last Months Rate 1.6 Months

Historical High 5300+ Mid 2007

Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you!   Call us today.  If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. 

Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.

                                         (Quick Mapping Links for Core Areas)
Palmdale  Lancaster  Ana Verde  Ritter Ranch  Quartz Hill  Leona Valley  Lake Hughes  Lake Elizabeth  

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping.  All figures are Single Family Residential only.

 Holiday Open House, Music Festival, and Sale for Saturday, November 14th, from Noon to 5:00PM.

Marc Macisso and Thelonius Dub will be our musical entertainment. This will be the opportunity for the public to be introduced to our first Pinot Noir and wine club members will have their own VIP area where they will be treated to another barrel sampling. We will be offering a Buffalo Burger or Buffalo Hot Dog lunch and 25% mixed case discounts on regularly priced AV Wines. Rikki Tikki the clown will be here from 12-2PM for the kids. Don't miss this great event!

In the meantime, we will have some products available in the Tasting Room: Black Sheep "Frog Balls"; Mariah Berry Wine and Chardonnay Soaps; Frogdog Chipotle Rub & Peach Habanero Jam; Price Antelope Valley Honey. We are also expecting some products to come in from Alex's Fruits & Nuts and the Goat Cheese in Olive Oil jars from Soledad Goats. We will let you know when they are on the shelf as well.

We have some wonderful new products just in time for the Holiday Season! This weekend we will be sampling the Fiscalini Purple Moon Cheese, a Cabernet soaked cheddar, our Le Chatelain Camembert from Normandie, and our Dalmatia Fig Spread! Other new cheeses are our King Island Dairy Roaring Forties Blue from Australia and a French Chevre with Cranberries. A great gift idea is a new wine game called Winerd! It is a wine tasting game that is fun and educational! We are still taking TurDucHen orders for Thanksgiving through Sunday!