Sunny Side Up
New Home Sales Soar in May
Hit highest level since 2008, per Andrew Khouri of the LA Times. The chart below comes courtesy of the Wall Street Journal.
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Home Sales Rise in April
The market had cooled in March, but apparently April is another story. The LA Times’ Andrew Khouri reports that “sales of newly built single-family homes surged 6.4%.” Interest rates might have something to do with it; they’re still quite low which is obviously great for home buyers. Observes Brad Hunter, chief economist at researcher Metrostudy: “Buyers are gradually moving off the fence.”
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The Quick and Low
The LA Times reports that very few homes are being sold these days. Meanwhile, the California Association of Realtors tells us that homes are flying off the shelves, faster than they have in years. So… one of these two is lying, right? What gives?
Obviously no one is lying — they’re both absolutely right. The culprit as usual is inventory, ie. the lack of it. Homes that are appealing and properly priced are selling quickly, or at least quicker than they would on average in a “normal” market. Yet with so few properties being listed, a low number of recorded sales is all that we could expect. Which is really just another way of saying…
This is a great opportunity to sell your home.
Last year, Tracy Do Real Estate listings sold for 9.6% above the market average. The average days-on-market for other area agents was 58.7, but ours was a remarkably low 23. We listen to our clients and are focused on helping them succeed. Above all we are your advocates; prepared, informed and aggressive in the pursuit of your goals.
To sell your house quickly and for maximum value, contact us anytime at Tracy Do Real Estate.
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So… Why Aren’t You Selling Your House?
Andrew Khouri’s report in today’s LA Times points to a decline in US home sales in March, due largely to rising prices and the resulting “sticker shock.” We won’t argue with the statistics, however what we’re seeing locally — which only occasionally aligns with the national housing picture — is not so much buyer concern as it is a clear lack of inventory. The number of properties for sale on the Eastside, NELA and Pasadena is ridiculously low right now. When anything of quality hits the market it sells quickly, usually to the winner of a bidding war. Doesn’t sound like sticker shock to us.
And it begs the question: why aren’t you selling your house? This is a great time to realize maximum value, with less competition and a large pool of eager, qualified buyers looking to take advantage of low interest rates. We are leaders at guiding sellers through happy and hassle-free sales, in fact for 2013 we ranked #1 at the John Aaroe Group in closed transactions. What are you waiting for? The market is great now. If you’ve been thinking about making a change, there’s no better time.
You can contact us at Tracy Do Real Estate.
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Showing the Way, LA
A new study points out that California cities are clear leaders for installed solar energy systems in the US, and the #1 city overall is Los Angeles. Way to show the way, LA.
The LA Times reports the story here. Solar house image courtesy of Dwell Magazine.
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Not So Much Sprawl After All
As reported all over the web today (LA Times, Curbed, The Atlantic Cities, etc.) it turns out that our LA-metro area is pretty darned dense — and we don’t mean dumb. Reid Ewing, a University of Utah professor and lead researcher of a new study called Measuring Sprawl 2014 says: “The biggest success story is surprisingly Los Angeles… (it) has actually densified substantially. They’ve built rail. There’s been a lot of infill development.”
Talk about stereotype busting. Are we surprised? Not at all.
At Tracy Do Real Estate we’ve helped hundreds of home buyers, and have found “proximity” on a lot of wish-lists. City centers, mass transit — our clients want to be near to the places that matter to them, in easily-accessible villages like Silver Lake, Eagle Rock, Atwater and Highland Park.
Have you found your ideal urban residence yet? What are you waiting for? Last year TDRE sold more homes than anyone else in several Eastside zip codes. Putting us to work for you is a savvy move and really easy. It starts by clicking here.
While we’re on the subject, check out our post from yesterday. NELA Union Modern Homes in Glassell Park is a prime example of LA’s growing love of sensible urban density, offering lots of living space in an earth-friendly footprint that’s close to just about everything. Check out photos and more at www.nelaunion.com — an exclusive listing of Tracy Do Real Estate.
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Homeowners Win Big by Saving Energy
Obviously “water” (and the lack of it) has been a hot topic in our local public discourse lately. Did you know that there’s a bunch of great ways to save money by using less of it? Tracy Do Real Estate team member Swan picked up a rain barrel for $85, then turned around a got a sweet rebate for $85. That’s right, the rain barrel that helps water her garden — and looks great by the way — cost $0 and just a little bit of her time.
That’s just one of several cool programs here in the LA area that reward responsible energy use. If you’re about to buy a new appliance such as a refrigerator, washer/dryer, air conditioner, pool pump (among others) the LADWP will give you money provided you buy models that are “Energy Star” rated.
The Gas Company is another local agency that offers some generous givebacks to homeowners who are willing to take a few steps to make their homes more energy smart. The opportunities are out there, homeowners and home buyers, and require just a small investment of time to reap rewards. Save energy, save money, truly everybody wins.
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Owning Your Home is 38% Cheaper than Renting
Granted it’s just the average, but 38% is significant. Real estate website Trulia.com applied a specific set of metrics for their “Rent vs. Buy” study, which covers the entire country. Learn more by clicking here.
It’s hardly surprising that the LA area falls into the “20% to 40% cheaper to buy” category, given the high cost of paying rent these days. Our advice? Jump start your home search ahead of the expected rise interest rates. We’re here to help, with a proven ability to connect buyers to their ideal home.
Reach us anytime at Tracy Do Real Estate.
To receive new listings by email, or to schedule a viewing click here!
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LAT: Massive Shortage of New Homes for Sale
The LA Times’ E. Scott Reckerd writes that “Southern California home building is stuck at historic lows, one of many factors conspiring against middle-class buyers in a recovery marked by high prices and low supply.” Is help on the way? Absolutely. In just a few short weeks, Tracy Do Real Estate will unveil the first available phase of NELA Union Modern Homes in Glassell Park. You can check out floor plans and sign up on our interest list. It’s the only way to get an invite to our Grand Opening — coming soon.
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