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

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://activerain.com/droplet/qRC

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.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
California Los Angeles County Marina del Rey
Groups:
Everything California
Posts to Localism
Mortgage Bankers
Condo Specialists
Condo Benefits
Tags:
luxury condominiums
condominium specialist
endre barath
ocean view condominiums
marina del rey condominium market report

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,560,731
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

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!

Jan 07, 2012 01:07 PM #1
Ambassador
4,012,202
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

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

Jan 07, 2012 01:31 PM #2
Rainmaker
516,438
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

Like Jeff and Carla mentioned, this is a really good report and so different from the cut and dry basic statistics! Nice job Endre!

Jan 07, 2012 01:38 PM #3
Rainmaker
1,122,444
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Endre - Good, local, real estate market report.  You've given both buyers and sellers a lot of great information.  Nicely done!

Jan 07, 2012 03:19 PM #4
Rainmaker
820,770
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Endre - great review of some of the events which touched us in 2011.  Here's to a great 2012 for us all!!!

Jan 07, 2012 04:24 PM #5
Ambassador
876,946
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Endre, doesn't sound like a bad month for December sales there.

Jan 08, 2012 10:16 AM #6
Rainmaker
1,320,766
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Endre, I've seen you post this photo before...it's such a cool building.  I also agree that consumer confidence has improved.

Jan 08, 2012 11:35 AM #7
Rainmaker
3,209,278
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

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!

Jan 08, 2012 12:58 PM #8
Rainmaker
3,209,278
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Laura, hope your market is showing improvements as well!

Juli to your success!

Connie, it matched the year before December sales as well!

Jan 08, 2012 01:01 PM #9
Rainmaker
3,209,278
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

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!

Jan 08, 2012 01:02 PM #10
Ambassador
2,299,461
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

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.  

Jan 08, 2012 02:55 PM #11
Rainmaker
3,209,278
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Judi, thank you for the nice comments!

Jan 08, 2012 05:28 PM #12
Ambassador
942,052
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

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.

Jan 10, 2012 09:32 AM #13
Rainmaker
732,653
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Great market report. Few of the condo buildings here in NYC are built the similar way setting back on the top few floors.

Jan 17, 2012 04:24 AM #14
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
3,209,278

Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
Ask me a question
*
*
*
*
Spam prevention