I’m honored that ABC asked me to speak with them last night on their prime-time national news broadcast. And as nice as it is to be singled out as a go-to voice in real estate, the thing I like best is that 7-plus million people got to see my listing on Screenland Dr. in Burbank.
Helping my clients succeed is everything. Being an expert, that’s simply my job.
Watch the ABC News story by clicking the image above, or here.
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From a housingwire.com article by Jacob Gaffney: Morgan Stanley Declares Housing Out of the Woods. “We expect to see 2012 end with an increase of 7-9% for the year in aggregate home prices after considering seasonality effects for the remainder of the year, with the possibility of a 10-12% increase on the bullish side and a 4-6% increase as the bear case,” write analysts in the latest Housing Markets Insight report. ” We view the bear case outcome to be relatively less likely.”
Buyers from Mainland China have long coveted LA County real estate, and in the San Gabriel Valley’s small but stately jewel of San Marino, competition for prime property is particularly fierce. KPCC’s Alex Cohen and A. Martinez recently talked with the BBC’s Rajesh Mirchandani, who reports that for Pasadena’s neighbor, 90 percent of home sales go to Chinese buyers who typically pay in cash. Click here to listen, and find out how this trend is turning up the heat on an already-robust housing market.
Lots of good news about housing today. Chris Isidore of CNN Money reports that “according to the closely watched S&P/Case-Shiller national home price index… the typical home price in July rose 1.6% compared to the previous month.” It’s a return to 2003 levels…
Which, according to a New York Times article by Shaila Dewan, is most apparent at the lower end of the housing scale. “’It’s less that the top tier is cooling than that the bottom tier is strengthening,’” said Stan Humphries, the chief economist at Zillow. “’The bulk of the recovery is due to the changes in the bottom and middle tiers.’”
Finally, Jim Puzzanghera of our local LA Times informs us that “home prices in the nation’s largest cities rose 1.6% in July to their highest level in nearly two years… adding to recent data showing the housing market finally has begun its rebound from the deep recession.”
Taken together, what does it all mean? A good time to sell your home just got even better. For a complimentary valuation of your property, contact me here.
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New York, Boston, San Francisco — is LA next? I’m talking about “micro studios,” tiny apartments that are between 200 and 300 sq. feet including the bathroom. Read about it in today’s LA Times.
From the Wall Street Journal’s “Developments” blog comes a report on the declining number of for-sale homes, which matters because “falling inventories are a leading driver behind the recent rally in home prices, and… point to continued price-strength in many parts of the Western U.S.” I’ll say this again to any would-be sellers out there: it is a great time to list your home. If I don’t have a buyer for you, then someone else likely will. Call me anytime for a complimentary valuation of your property.
Last month I posted a NY Times article about the math of buying vs. renting (8/20). Well Trulia.com reports that for many people it’s 32% cheaper to buy than to rent in Los Angeles. Read the full article here, and after you do — call me. My top-shelf services come without any cost to homebuyers, so you’re not just going to love the house I find for you. Your bank account will love me, too.
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Map graphic courtesy of Trulia.com.
There’s a story on cnbc.com today about the government’s new stimulus package. Jeff Cox reports that the Fed “will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market.” I doubt that this will have a huge impact locally, since our housing engine is already running ahead of the national pack. But I do see significance in the bigger real estate picture.
It’s the LA Times again, with even more good news for local homeowners — especially those of you who have been thinking about selling. Alejandro Lazo writes today that “home sales in Southern California hit their highest level for an August in six years last month, and the median price for a home in the region rose to a four-year high.” Full article here.
Dataquick reports the story with deeper analysis. For my buyers, I urge you to consider that any good deals out there are going fast. Get in touch with me asap so we can get ahead of this market.
The LA Times’ Alejandro Lazo reports this morning that “the number of underwater borrowers in the U.S. is continuing to decline as home prices improve, meaning one of the most stubborn roadblocks to the housing market’s recovery is slowly lifting.”