Marina Del Rey Condominium Market Report for June 2011
The month of June was very active for me, many listing appointments, and a lot of viewing of my listings. Hence I am a bit late with my Market Report. As most of you who read my Market Reports consistently will notice that my focus is always on the Trends.
I have been reading a great deal about higher interest rates being on the horizon. This is based on the premise that, the Federal Reserve's second round of quantitative easing (QE2 that it is referred to) has ended with the close of the month of June. The withdrawal of this support will leave the economy to stand on its own without any stimulus. Hence this could drive up Treasury rates. Hence this will potentially drive up interest rates.
Based on this major indicator I looking forward to find out, if this event pushed many fence sitting buyers off the proverbial fence. The fear of rate increase for getting a home loan should have pushed the fence sitters off.
The Active listings are virtually identical to the previous month. There were 164 Active Condominium Listings on the Market. There were 23 properties accepting Backup Offers. This was a huge increase over the previous month. The Pending properties had a moderate increase, there were 18 properties pending as well. There was no change in the number of properties on hold. There were no properties on hold status. The most important indicator was almost identical to the previous month. The sold properties had a moderate increase over the previous month. There were 25 properties that were sold in Marina Del Rey, CA for the month of June. I have noticed an increase in last minute double checking of the borrower's work and credit worthiness by Lenders so I suspect there would have been even more sales to report.
So if you would like to check out the previous months sales statistics please click on the enclosed links
http://actvra.in/JT (Published January 2011)
http://actvra.in/4T8 (Published February 2011)
http://actvra.in/6gy (Published March 2011)
http://actvra.in/7YN (Published April 2011)
http://actvra.in/9xL (Published May 2011)
http://actvra.in/c7H (Published June 2011)
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 at 310.486.1002 (USA) or email me at email@example.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.