real estate: Supply vs. Demand - New Construction Woes
- 07/17/13 03:59 AM
Supply vs. Demand - New Construction Woes Most of us in the Real Estate business don't often deal with new construction homes. I'd wager that upwards of 90% of the average agent's business is resale. (More like 99% personally) But we must take a look at what is happening with the construction of new homes as it'll eventually, if not already, effect comps and the market as a whole. We all see that the market is beginning to spring back into action. As a result, the demand for new homes is slowly rising. We aren't quite back at the level we … (0 comments)
real estate: Issues With Neighbors Can Lead to Decreased Property Value
- 06/26/13 08:15 AM
Issues With Neighbors Can Lead to Decreased Property Value Scary barking dogs, what seems like a used car lot, yard used as storage, no landscaping maintence.....all of these things can lead to bringing the value of your home down. Guilty by association (or by proximity, really). So what does one do if they want to sell their house and the value is less than similar comparables in the area as a result of a neighbors lack of care? Issues With Neighbors Can Lead to Decreased Property Value An article in CNN's Money Magazine from July 2013 addresses this issue. We've … (4 comments)
real estate: Long Way To Go, But The Market Is Looking Good!
- 05/30/13 06:00 AM
Long Way To Go, But The Market Is Looking Good! It's been a strange recovery and it isn't over yet. Here are a few nationwide factoids that illustrate we are in a good place right now. - For the first time in a long while, the housing cost-to-income ratio is at 23%, the lowest in 30 years! (California specific figures however, would be a bit higher) - 14% of renters moving out these days across the nation are doing so because they are buying property. This number has been slowly rising since it bottomed out at roughly 11% in 2011. The … (2 comments)
real estate: Real Estate Market Feeling Kind of Bubbly?
- 04/26/13 07:08 AM
Real Estate Market Feeling Kind of Bubbly? For me? The answer is Yes and No. While sales are increasing and demand is high right now, it's not like the bubbles of Real Estate past where buyers are purchasing above their means and creating more debt. Sales may have increased, but so have the amount of cash buyers, or financed buyers with large down payments and sufficient funds to back it up. Real Estate Market Feeling Kind of Bubbly? I've seen it first hand in my own business. Not only do I represent several cash buyers (not all of them investors either) but many of … (2 comments)
real estate: Southern California Housing Recovery
- 04/19/13 08:56 AM
Just wanted to pass along this link to everyone. It's a very informative and interactive map posted by the LA Times. Southern California's Housing Recovery: An Interactive Map This is a great tool if you are considering selling and need some more information to help you make your decision! Southern California Housing Recovery This article goes hand in hand with the map: California home prices and sales increase in March Check out both links and comment below! … (0 comments)
real estate: Renting or Buying? Which Will Save You More?
- 03/29/13 06:39 AM
Renting or Buying? Which Will Save You More? The answer to this question really depends on where you are, market conditions, etc. The California Association of Realtors has compiled information on the monthly cost of buying versus renting in a few major counties in California. As you can see below, overall, buying is much more beneficial to consumers even when you take property taxes and insurance into account. On average, buying yields a 32% savings in California!
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real estate: Should We Remodel, Or Buy A New House?
- 03/22/13 07:16 AM
Should We Remodel, Or Buy A New House? Many growing families who are finding themselves running out of room or just not happy with the current finishes their home has are now contemplating the age-old question, should we remodel our house or buy a new one? Although prices are beginning to increase, many people are still under water, so even if they feel they need to expand or upgrade, they fear sinking more money into their investment. On the flip side, shopping for a new home with such limited inventory on the market for sale poses a huge challenge of its … (0 comments)
Drop-dead gorgeous views await you at this awesome Sherman Oaks contemporary home! Open and bright floorplan with walls of glass facing the most stunning panoramic setting overlooking the valley, city lights, mountains and lush green canyon hillside! This gem features updated kitchen with all new stainless steel appliances included, updated bathrooms, lower master bath featuring incredible spa tub overlooking the fabulous view, refinished hardwood floors, vaulted beam ceilings and beautiful contemporary curb appeal. Viewing deck located just off the living room upstairs along with a huge entertainers paradise … (2 comments)
14300 Hortense Street, Sherman Oaks, CA 91423 Welcome to this lovely home plus guest studio nestled on a beautiful tree lined block of the Sherman Oaks Library Square Community. Charming curb appeal, circular driveway, and gorgeous mature willow tree greet you as you approach the formal entry and step inside this wonderful 3 bedroom 2.5 bath home with over 1800 sq ft of comfortable living space set around a center courtyard enclosed as a sunroom with its own AC unit making it the perfect in home gym w/indoor spa! The … (0 comments)
real estate: Dangerous Foreclosure Scams Plague the Unfortunate Homeowner
- 02/08/13 08:13 AM
Dangerous Foreclosure Scams Plague the Unfortunate Homeowner Agents! Homeowners! Be informed! Avoid making a terrible mistake in an effort to save your home! There are many scam artists out there who claim they can help homeowners avoid foreclosure by scouring their loan documents for any mistakes or loopholes that could put a stop to the process. This "service" comes at a hefty price, upwards of $3,000 at times. It is up to the consumer to do their part in researching a so-called business that claims it can "help." Dangerous Foreclosure Scams Plague the Unfortunate Homeowner These companies may have official looking … (0 comments)
real estate: Top Ten Turn-Around Housing Markets of 2012
- 01/23/13 05:33 AM
Top Ten Turn-Around Housing Markets of 2012 According to the latest home price report from Trulia.com, the housing market in general has made quite the positive turn in the last year. It seems it'll only get better at this point. I thought it would be interesting to share the top ten markets with the most improvement. This is referencing increases in median home prices from December 2011 to December 2012. A few here in California, but some other surprising locations as well. Top Ten Turn-Around Housing Markets of 2012 In my opinion, it's a little scary to see 27% increases … (3 comments)
real estate: Fiscal Cliff Avoided - 2013 Housing Market Expectations
- 01/07/13 07:02 AM
Fiscal Cliff Avoided - 2013 Housing Market Expectations We have had 13 straight months of home sales increasing and the avoidance of the Fiscal Cliff should help to continue that growth. Had the Fiscal Cliff not been avoided, the average American's annual taxes would have increased by thousands of dollars which in turn would have kept some folks from putting a down payment on a home. Of course, if you make over $450k/year, you taxes will go up significantly. But, for the rest of us, we're safe for now. (Or at least for the next two months until this entire Fiscal … (0 comments)
real estate: California Home Prices on the Rise
- 12/21/12 07:52 AM
California Home Prices on the RiseAn increase in the median home sale prices , the largest increase in 8 years is happening right now. From November last year to November 2012, the median price has risen 25%! A single-family detached home was $349,300 last month, up from $279,910 the year before.California Home Prices on the RiseIn the Los Angeles market, the average price was $327,840 last month, up 22% from a year earlier and 2.9% percent from October.California Home Prices on the RiseThis isn't necessarily a true sign of an economy bouncing back, which don't get me wrong, part of it … (0 comments)
real estate: Luxury House Flipping - New Trend?
- 12/12/12 07:23 AM
Luxury House Flipping - New Trend? We've all seen it, maybe even helped in the process......investor buys fixer, throws in a little cash for upgrades, sells for a decent profit. Most of us see this happening in the under $500k range, however, a new market for luxury flips seems to be on the rise.
I wanted to share this article featuring SRE Design & Development, a very reputable company I have worked with in the past.
As seen on Wall Street Journal MarketWatch, CBS, NBC News, Yahoo! News and more!
real estate: Advantage to House Hunting During The Holidays
- 12/08/12 08:37 AM
Advantage to House Hunting During The Holidays As Realtors, we all know that the market slows down significantly during the holidays. Buyers and Sellers are more concerned with kids home from school, turkey dinners and gift giving. Patience is a virtue. Buyers that remain steadfast thru the low inventory and competition of investors, can find a diamond in the rough that they otherwise may have missed while jingling all the way to spring. According to DataQuick, homes sales have increased from October to November only FOUR times in the last 24 years. In other years inbetween, transactions have decreased anywhere from … (4 comments)
real estate: First Time Home Buyers Decreasing
- 11/30/12 07:35 AM
First Time Home Buyers Decreasing First time home buyers are becoming a smaller percentage of the market. Normally around 40%, first time buyers are down to 34.7% of the active marketshare nationwide. Meanwhile, move-up buyers are increasing. First Time Home Buyers Decreasing Perhaps the reason for this decline is due in part to the difficulties facing those trying to go the FHA route. With many people struggling these days, applying for FHA is the best option for lower mortgage payments. However, with so many in that struggling phase, FHA is being overrun with requests. So there is "demand," but not necessarily … (1 comments)
real estate: Single Family Lease Demand Rises, Foreclosures to Blame? Or Are They?
- 11/16/12 05:18 AM
Single Family Lease Demand Rises, Foreclosures to Blame? Or Are They? According to a report released by CoreLogic, demand for single family home rentals has increased by as much as 25%! Many people are losing their homes to the banks and thus turn to finding rental properties they can afford. I have also seen families who were renting being forced to move because the property owners are under water. So we have two groups of people, owners and current renters looking to find a place (or another place) to rent. Single Family Lease Demand Rises, Foreclosures to Blame? Or Are They? … (1 comments)
real estate: How will Election Results Effect Our Interest Rates?
- 11/06/12 08:05 AM
It's Election Day - be sure to get out and vote. With all the displaced folks in the Northeast, it will be very interesting to see how the polls go. Rest assured, attorneys representing both sides of the aisle will be out in force to be sure there is no fraud and every vote is cast.
How will Election Results Effect Our Interest Rates? As far as interest rates are concerned, it really doesn't matter who wins the Presidential election, as there should not be a meaningful movement one way or the other. There's a sense that if Obama … (28 comments)
real estate: Mortgages Rates on a Slight Rise
- 10/25/12 07:06 AM
Mortgages Rates on a Slight Rise Freddie Mac is reporting mortgage rates are on the rise.....nothing too drastic though. After record lows, rates this week on a 30-year fixed-rate loan rose from 3.37% last week to 3.41% according to Freddie Mac's latest survey. 15-year fixed-rate home loans rose from 2.66% to 2.72%, based on what mortgage lenders say they are offering to borrowers with 20% down. Mortgages Rates on a Slight Rise It still pays to shop around as a borrower for better rates. Many pay additional points upfront to lower their rates, this is a good idea in the long … (0 comments)
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