Marina Del Rey, CA Condominium Market Report for the month of December 2011

As we closed this challenging year in Real Estate and in the overall Economy, I am truly glad we can start a New Year. So let’s review, we had the fear of a double dip recession, European crisis in Italy, Greece, Portugal to name a few. Then we had the Japanese Tsunami and the various other catastrophes around the world. All this has impacted the housing market. Let’s keep in mind that the debt crisis at home and in Europe will continue to linger on in 2012. Ironically this volatile economic environment will push investors into the Real Estate Market. I anticipate this migration to the “safety” of “Real Estate Investments” in the coming year of 2012.

Marina City Club

The good news Fannie Mae & Freddie Mac will continue to guarantee new mortgages on the conforming loans, what I call the “fuel” of the real estate recovery. The other great news is that nearly all of the economic data that was released in the 4th Quarter of 2011 point to improvements, which is a recipe for a stronger housing market activity! THE BEST NEWS: consumer confidence has improved, which translates to increase in spending in all areas, including housing.

 

Now with that said let’s look how the Real Estate activity fared for the month of December.

 

There were 73 Active listings on the Market waiting for buyer in Marina Del Rey. There were 5 Properties Accepting Backup Offers and 1 on Hold (an indication of Short Sale) and there were 8 Properties Pending waiting for Escrow to Close. There were 27 Sold Condominiums for the month of December in Marina Del Rey.  I would like to let everyone know, that in the past five days I have seen a great deal of activity in all price points, hence the delay of this report. I anticipate a very strong and much improved 2012.

 

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at310.486.1002 email me athomes@endrebarath.comor visit one of my websites athttp://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

 

 
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14 Comments on Marina Del Rey, CA Condominium Market Report for the month of December 2011

JAN
07
2012
979,163 Points 114 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Yes, and least we forget the uprisings across the globe.  Very interesting times.  But, I do hope you're right for the market both there and up north in the Pacific NW.  We need a little more movement!
9:07pm • #1
1,583,165 Points 429 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Endre

What a great report, and an overview of what has been and what may be in 2012. We are definitely seeing some positive signs, which of course we all hope continues.

Jeff
9:31pm • #2
467,012 Points 40 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Like Jeff and Carla mentioned, this is a really good report and so different from the cut and dry basic statistics! Nice job Endre!
9:38pm • #3
400,702 Points 8 Featured Posts Outside Blog Called Shot Master

Endre - Good, local, real estate market report.  You've given both buyers and sellers a lot of great information.  Nicely done!
11:19pm • #4
JAN
08
2012
610,937 Points 40 Featured Posts Outside Blog Called Shot Master

Endre - great review of some of the events which touched us in 2011.  Here's to a great 2012 for us all!!!
12:24am • #5
679,590 Points 51 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Endre, doesn't sound like a bad month for December sales there.
6:16pm • #6
774,833 Points 16 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Endre, I've seen you post this photo before...it's such a cool building.  I also agree that consumer confidence has improved.
7:35pm • #7
706,901 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Carla, yes there were a lot of other outbalances that effected this  global economy.

Jeff, usually Southern California specifically the San Diego County leads the Real Estate trends followed by Los Angeles County, so it is good to hear that there are similar trends in your part of the world.

Russell thank you for stopping and commenting have a Prosperous & Happy New Year!
8:58pm • #8
706,901 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Laura, hope your market is showing improvements as well!

Juli to your success!

Connie, it matched the year before December sales as well!
9:01pm • #9
706,901 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Nick this building was built by Howard Hughes to house his employees:) And then it became a condo conversion years later. If the walls could talk:))) glad to hear your area is seeing improvements as well!
9:02pm • #10
1,652,081 Points 134 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Endre,  I'm so glad that things are looking up for 2012 in your market.  You've got a great understanding of what's going on in the Marina del Rey Condo market.  Any buyer looking to purchase a condo in your area should definitley call you and put your expertise to use.  
10:55pm • #11
JAN
09
2012
706,901 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Judi, thank you for the nice comments!
1:28am • #12
JAN
10
2012
697,950 Points 15 Featured Posts Outside Blog Called Shot Master

I love that building.  And, I like your predictions about real estate being so much safer for investment.  Then, too, your stats are looking good.  Excellent material.
5:32pm • #13
JAN
17
2012
619,969 Points 8 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great market report. Few of the condo buildings here in NYC are built the similar way setting back on the top few floors.
12:24pm • #14


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Endre Barath,Jr. Realtor Los Angeles Home Sales 310.486.1002

Beverly Hills, CA

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Beverly Hills,CA. Prudential California Realty

Address: Attn: Endre Barath,Jr., 9696 Wilshire Blvd., Beverly Hills, CA, 90210

Office Phone: (310) 248-6473

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