Play Vista Condominium Market Report for December 2011

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

Play Vista Condominium Market Report for 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.

Playa Vista

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 27 Active listings on the Market waiting for buyer in Playa Vista, CA. There were 15 Properties Accepting Backup Offers and 2 on Hold (an indication of Short Sale) and there were 7 Properties Pending waiting for Escrow to Close. There were 3 Sold Condominiums for the month of December Playa Vista.  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 at310.486.1002email 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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Rainmaker
1,939,202
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Endre, thanks for sharing this market report.....always interesed in reading information on other communities.

Jan 08, 2012 06:26 PM #1
Rainmaker
3,209,023
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Ron I am the same way it is good to know what other communities are doing, gives a better perspective

Jan 09, 2012 05:49 AM #2
Ambassador
994,761
Sharon Paxson
Compass - Newport Beach, CA
Newport Beach Real Estate

HI Endre - excellent market report and talking about the world events which indeed impacted our economy. I am glad to see consumer confidence improving as well. I have seen an increase in activity as well.

And Happy New Year to you too - and I appreciate your support throughout the year!

Jan 09, 2012 02:09 PM #3
Rainmaker
3,209,023
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sharon, nice to hear your pasrt of the world is improving as well!

Jan 09, 2012 02:15 PM #4
Rainer
308,074
Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

Good luck on your sales in Playa Vista.  I really hope 2012 will be a better real estate market.

Jan 09, 2012 03:04 PM #5
Rainmaker
3,209,023
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jennifer you and me both we are on the same page:))

Jan 09, 2012 06:01 PM #6
Rainmaker
3,358,503
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Endre -- Because it is a "new" community(by SoCal standards at least), Playa Vista is a great alternative for those buyers/homeowners who desire a close-in location in turnkey condition in a carefree environment.      

Jan 10, 2012 02:28 AM #7
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2,079,919
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Endre - another fantastic community out there on your West Coast of fun and sunshine!

Jan 10, 2012 04:12 AM #8
Rainmaker
3,209,023
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael, you are spot on Playa vista is 5 min to the beach and it is the first New Planned Urban Development in 40 years in Los Angeles. It is a mini community by itself.

Barbara-Jo yes you are right

Jan 10, 2012 05:44 AM #9
Rainmaker
1,320,431
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, this really is a great market to be in now.  Investors are going to make a lot of money and home buyers are getting historically low rates and homes at great prices.  That's certainly what I'm seeing in my area.  It seems as though you are experiencing much the same market conditions.

Jan 12, 2012 10:32 AM #10
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670,149
Rene Fabre
First American Title - Seattle, WA
Marketing in the Digital Age

Endre... A good deal of sales in my area were purchased by investors, mostly from Canada and Asia. My town, Renton, has had a really bumpy road the last couple of years but I think it's stabilizing and beginning to rebound. Also, there's a flurry of activity here this past week or so. Right now I think the most important thing to happen is consumer confidence is up, the decision making aspect of the equation. I looked Playa Vista up online... What a neat neighborhood community.

Jan 12, 2012 11:05 AM #11
Rainmaker
3,209,023
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nick I agree the only issue is that I noticed the investors are impatient for the REO' asset managers slow response to offers!

Rene' it is a great community, has it's own club house, Olympic size swimming pool, library....I could go on and on. Glad you like the Playa Vista community.

Jan 12, 2012 12:32 PM #12
Rainmaker
682,860
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Great Overall report of the area, the year and a wish for moving onward!  Cheers!

Jan 12, 2012 03:59 PM #13
Rainmaker
3,209,023
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jane and it is a great community to live in, thank you for commenting!

Jan 14, 2012 09:29 AM #14
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942,052
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

This is one of those market reports that I actually enjoy reading.  Thanks, Endre!

Jan 15, 2012 03:17 AM #15
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533,485
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

I agree with Suzanne.  Good market report. 

I am cautiously hopeful that the economy will continue to improve.  In my opinion, where Real Estate goes as does the economy.  So I'm also pulling for a strong year in the Real Estate Sector.  And for you personally, hope your area thrives Endre.

Jan 16, 2012 10:33 AM #16
Rainmaker
3,209,023
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Suzanne, yes some of the Market Reports can be a bit dry

Jason, I agree Real Estate has a large influence on the economy.

Jan 16, 2012 12:34 PM #17
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Rainmaker
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Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
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