foreclosures: Real Estate Market Index Report La Crescenta CA February 2010 - 03/12/10 10:51 AM
Real Estate Market Report        
La Crescenta/Montrose/Glendale Annex           February, 2010
At A Glance
What a difference a month makes.  The Market Index dropped to 0.53, back to March-April levels primarily due to more inventory and fewer sales.  Considering the past few months this is a great time for buyers to get a good deal.  At least now sellers have competition and cannot afford to overprice if they want top dollar.  Note that you need to open escrow by April 30th to take advantage of the $8,000 Federal Tax Credit, and close by June 30th. 
 
Market Activity Index - … (1 comments)

foreclosures: Real Estate Market Index Report La Canada Flintridge CA February 2010 - 03/12/10 10:39 AM
Real Estate Market Report
La Cañada Flintridge, CA                                      February, 2010
 
At A Glance
La Cañada Flintridge continues to have the lowest Market Activity Index of the areas I monitor.  Important points this month:  A big increase in new pending listings and a drop in the Months of Inventory from 8.9 to 6.9 months.  Interest rates are forecast to increase by as much as a half point so now would be a great time to lock your rate.
Market Activity Index 0.29, up 12 points. The Market Index is back to the same level as May-June levels - talk … (0 comments)

foreclosures: Real Estate Market Index Report Glendale CA February, 2010 - 03/10/10 10:02 AM
Real Estate Market Report
Glendale, CA                                                         February , 2010
 
At A Glance
The Market Activity Index decreased for the third month in a row, creating the perfect storm for buyers:  low interest rates (although projected to increase soon), more inventory, and prices dipping.  Remember that you need to open escrow by April 30th and close by June 30th, so for a short sale that could be a challenge.   To lock your rate you need an accepted offer.
 
Market Index- 0.43 - down 4 points.
The Market Index is at 0.43, down from 0.47 last month and up compared … (0 comments)

foreclosures: Real Estate Market Index Report East San Fernando Valley CA February 2010 - 03/10/10 09:50 AM
Real Estate Market Report
East San Fernando Valley, CA                              February, 2010
North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.
 
At A Glance
The Market Activity Index declined, due to an increase in Listing Inventory. This may make this the best time for buyers to submit some conservative offers.  Prices seem to be showing a reluctance to go lower, so this is the perfect storm for buyers - low interest rates, low prices, and the $8,000 Federal Income tax credit requires you to enter escrow by April 30th and close by June 30th, making short sales risky.
(0 comments)

foreclosures: Real Estate Market Index Report Burbank CA February 2010 - 03/10/10 09:41 AM
Real Estate Market Report        
Burbank, CA                           February, 2010
 
Burbank At A Glance
The Market Activity Index decreased due to three primary factors: More new inventory coming on the market, fewer sold listings closing escrow, resulting in an increase in listing inventory.   The new Federal Tax Credit for buyers requires escrow to open by April 30th and close by June 30th.  With interest rates anticipated to increase as much as one full point, now is the time to lock your rate and buy. It's the perfect storm for buyers - low interest rate, more inventory, and the Federal … (0 comments)

foreclosures: Real Estate Market Index Report East San Fernando Valley CA December 2009 - 01/11/10 08:10 AM
Real Estate Market Report
East San Fernando Valley, CA                            December, 2009
North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.
 
The East San Fernando Valley area Market Activity Index, edged up slightly, still making it a good place to buy.  There are fewer homes on the market than a few months ago, but prices have bottomed out, so if you want to live in the area, buy now.  The first time home buyer $8,000 Federal income tax credit was not only renewed but expanded, increasing the income cap and home purchase price.
  
Market Activity Index - … (0 comments)

foreclosures: Real Estate Market Index Report Burbank CA December 2009 - 01/11/10 08:02 AM
Real Estate Market Report        
Burbank, CA                      December, 2009
The Market Activity Index increased due to more properties closing escrow and fewer new listings coming on the market.     The Federal Income Tax Credit of $8,000 was to expire on November 30th which may have affected buyer decisions.     Interest rates are poised to increase in the spring, so if you are thinking by buying now is the time. The new Federal Tax Credit for buyers requires escrow to open by April 30th and close by June 30th.
  
Market Activity Index - 0.73- up 12 points.
The market index is … (0 comments)

foreclosures: Real Estate Market Index Report Sunland, Tujunga, Shadow Hills CA November 2009 - 12/28/09 09:41 AM
Real Estate Market Report
Sunland - Tujunga - Shadow Hills                   November, 2009
For the third month in a row the Market Activity Index has increased, climbing quickly toward a seller's market.   This is the second month in a row that prices have increased. Buyers have been taking advantage of the Federal Income Tax First Time Buyer Credit, which has been extended and expanded to include move up buyers.  We expect higher interest rates in the spring due to the depletion of Stimulus funds the Treasury Dept. has spent to buy mortgages, which artificially restraining interest rate, so buy … (0 comments)

foreclosures: Real Estate Market Index Report La Crescenta CA November 2009 - 12/28/09 08:43 AM
Real Estate Market Report        
La Crescenta/Montrose/Glendale Annex           November, 2009 
This area is holding at number 8 in Market Activity Index out of 22 areas.  Sometimes statistics are deceiving, and in CV over 40% of homes are selling within 30 days, so do not let the low Index fool you.  Good values go quickly, usually with multiple offers.  Overpriced listings (60% of the market) tend to sit, receiving offers that are below the list price. The extension and expansion of the $8,000 Federal Tax Credit will help, as well as the $6,500 tax credit for move-up buyers. Interest rates are … (0 comments)

foreclosures: Real Estate Market Index Report La Canada Flintridge CA November 2009 - 12/28/09 08:28 AM
Real Estate Market Report
La Cañada Flintridge, CA                                     November, 2009
La Cañada Flintridge is continuing to retain the unique privilege of having one of the lowest Market Activity Indexes, moving down from number 6 to number 2 from the bottom.  Prices appear to have resumed a downward trend, so if you are interested in buying, this would be a great time. 
Market Index 0.35, down 3 points.
The Market Index is at 0.35 down 0.03 from last month's 0.38 and up .19 from last year's 0.16. 
 
New Listings - 17, down from 20 last month and last … (0 comments)

foreclosures: Real Estate Market Index Report Glendale CA November 2009 - 12/28/09 08:19 AM
Real Estate Market Report
Glendale, CA                                                           November , 2009
 
The Market Activity Index increased to 0.69.  Sales are up and inventory continues to decline, resulting in some properties selling over asking price with multiple offers. Prices appear to be headed back up, and interest rates are still low, although expect an increase in March when the Treasury expends their stimulus dollars.
Market Index- 0.69 - up 7 points!
The Market Index is at 0.69, up from 0.62 last month and compared to 0.32 a year ago.`
 
New Listings - 52 new listings this month, compared to 64 last … (0 comments)

foreclosures: Real Estate Market Index Report Burbank CA November 2009 - 12/28/09 08:09 AM
Real Estate Market Report        
Burbank, CA                      November, 2009
The Market Activity Index declined primarily due to two factors, a decline in new listings and a decline in closed sales.  The Federal Income Tax Credit of $8,000 was to expire on November 30th, so it may be that affected buyers decisions.  Either way, the index has declined to May '09 levels, reflecting the general economic conditions.  Interest rates are poised to increase in the spring, so if you are thinking by buying now is the time. The new Federal Tax Credit for buyers requires escrow to open by April … (0 comments)

foreclosures: Real Estate Market Index Report East San Fernando Valley CA October 2009 - 11/19/09 10:30 AM
Real Estate Market Report
East San Fernando Valley, CA                             October, 2009
North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.
 
The East San Fernando Valley area has the second highest Market Activity Index, making it a good place to buy.  There are fewer homes on the market than a few months ago, but prices are still declining, so if you want to live in the area, buy now.  The first time home buyer $8,000 Federal income tax credit was not only renewed but expanded, increasing the income cap and home purchase price.
  
Market Index - 0.71
(0 comments)

foreclosures: Real Estate Market Index Report Glendale CA October 2009 - 11/19/09 10:23 AM
Real Estate Market Report
Glendale, CA                                                           October , 2009
 
Glendale has a Market Activity Index of 0.62, making it an overall good place to buy.  Sales are up and inventory continues to decline, resulting in some properties selling over asking price with multiple offers.  The best deals sell quickly, leaving over-priced homes to sit on the market.  Overall homes values appear to have bottomed out.
 
Market Index- 0.62 - no change from last month.
The Market Index is at 0.62, equal to last month and compared to 0.35 a year ago, still an improvement.
 
New Listings - … (0 comments)

foreclosures: Real Estate Market Index Report Burbank CA October 2009 - 11/19/09 09:50 AM
Real Estate Market Report         
Burbank, CA                     October, 2009
The Market Activity Index declined due to a jump in new inventory, namely two condo projects.  Contrary to Glendale, the developers in Burbank are by and large opting to sell their new projects, while in Glendale they are opting to lease them.  This is a great time to buy, with the extension of the income tax credit and the favorable interest rates, which are predicted to increase in the spring when the stimulus funds are exhausted.
  
Market Activity Index -0.65 - down 16 points.
The market index is … (0 comments)

foreclosures: Real Estate Market Index Report La Crescenta CA August 2009 - 09/25/09 06:24 AM
Real Estate Market Report        
La Crescenta, CA        August, 2009
                   
Market Activity Index - 0.86 UP 1 point.
A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.
                                                                                                                                                                                   
The Market Index increased to 0.86  from last months  0.85 - A year ago it was 0.31.   
 
New Listings - 20 new listings, down from 25 last month.  Last year there were 44.
  
Pending Listings - 23 listings entered escrow compared to 23 last month, and 12 last year.
  
Pending Ratio … (0 comments)

foreclosures: Real Estate Market Index Report La Canada Flintridge CA August 2009 - 09/25/09 06:17 AM
Real Estate Market Report
La Canada Flintridge, CA      August, 2009
 
Market Index  0.46, up 3 points.
A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.
The Market Index is at 0.46 up .03 from last month's 0.43 and last year's 0.22. 
 
New Listings - 19, down from 21 last month and last year's 17.
  
Pending Listings - 13 listings opened escrow, down from 15 last month.  Last year 5 properties sold. 
 
Pending Ratio -  At  0.68, down from 0.71 last … (0 comments)

foreclosures: Real Estate Market Index Report East San Fernando Valley CA August 2009 - 09/25/09 06:08 AM
Real Estate Market Report
East San Fernando Valley, CA                             August, 2009
North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.
Market Index - 0.77
A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.
The market index is at 0.77, UP 7 points from last month's 0.70. Last year it was at 0.25.
 
New Listings - 1123 new homes came on the market, compared to 168 listings last month, versus 216 last year.
  
Pending Listings - 186 opened escrow, versus … (1 comments)

foreclosures: Real Estate Market Index Report Glendale CA August 2009 - 09/23/09 11:43 AM
Real Estate Market Report
Glendale, CA            August , 2009
 
Market Index- 0.60
A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.
  
The Market Index UP 3 points to 0.60.
 
New Listings - 63 new listings this month, compared to 74 last month and 88 a year ago.
 
New Pending Listings - 63 listings entered escrow, compared to 57 last month, and 38 in 2008.
  
Pending Ratio -1.00, up from  0.77,  last month. A year ago it was 0.55. 
 
Listing … (0 comments)

foreclosures: Real Estate Market Index Report Burbank CA August 2009 - 09/23/09 11:34 AM
Real Estate Market Report        
Burbank, CA         August, 2009
  
Market Index -0.73 -  down 21 points.
A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.
The market index is 0.73, dropping 21 points from 0.94 last month, compared to 0.37 a year ago.
 
New Listings -81 new listings, compared to 66 last month and 74 in 2008.
  
Pending Listings - 58 listings opened escrow, compared to 69 last month and 36 last year.
  
Pending Ratio - 0.72, compared to last … (0 comments)

 
Keith Sorem (Keller Williams Realty)

Keith Sorem

Glendale, CA

More about me…

Keller Williams Realty

Address: 411 North Central Avenue, Suite 100, Glendale, CA, 91203

Office: (818) 432-3269

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