Eager homebuyers were faced with low inventory, lending restraints, and reduced affordability for month of February. The month saw 14,027 units sold including resales houses and condominiums in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties. This indicates a 3.1 percent drop in sales from January, a month that saw 14,471 units …
Continue reading “Homes Sales in Southern California Drop to Lowest Numbers Since 2008”
The median home sale price for Southern California homes reached the highest median level in six years. This year’s February figures had the medium sale price of a home at $383,000, with March’s figures improving to $400,000. This marks the highest level since February 2008. This is a 15.8 percent increase. This median sale price …
Continue reading “Southern California Median Home Price Reaches $400,000 for March 2014”
People that have the opportunity to purchase a home now should possibly consider it according to the following example: You are 30 and in the market for homes that are under the $300,000 range. Let’s say you have settled on a condo that is worth $250,000 today. Today’s rate of 4.41 percent (which historically is …
Continue reading “Reason to buy Real Estate now versus waiting in Los Angeles”
Lately, many first-time homebuyers are being priced out of desirable LA neighborhoods. This has created increased interest in moving to neighborhoods close to USC and to the west, where an expanding Expo light rail line is seen as a significant regional amenity. It is a convenient public transportation option, as well as a property value …
Continue reading “Renewed Interest in Housing Near USC Due to Rising LA Neighborhood Prices”
The mayor’s announced “Great Streets” program aims to revitalize a number of significant intersections throughout Los Angeles. The plan’s goals are to increase walkability by becoming more pedestrian oriented and encourage local economic development by bringing in an influx of new businesses. Currently, a budget of $800,000 has been assigned for this ease-of-use initiative looking …
May saw home foreclosures decrease in Southern California. The region consists of six counties, with last month seeing 7,363 foreclosures. This foreclosure rate is 23 percent lower than May of last year. Los Angeles County alone saw one out of every 1,107 homes enter foreclosure. The highest foreclosure rates in the Southern California region were …
Continue reading “Southern California Foreclosures Fall, Bank Repossessions Increase”
The latest June foreclosure numbers show lower numbers than the same month last year. RealtyTrac reports that the six counties of Southern California had 7,528 foreclosures, an eight percent decrease from foreclosure numbers during the same month last year. Year-to-year foreclosure figures continue to dip for the region, but month-to-month numbers have risen three percent …
Continue reading “Southern California Stays on Track to Maintain More Normal Market”
A total of 81 homes sold in North Hollywood for the month of May. The median price for a home sold was $429,000. Compared to the median sale price figures of May of last year, $420,000, this new number represents a 2.14 percent year-to-year increase in sales activity for the city. There is an increase …
Continue reading “North Hollywood Home Sales Activity for May”
The Marriot Warner Center has sold to Laurus Corp., a Century City based real estate investment and development company. This particular Marriott is one of the largest hotels in the San Fernando Valley – the building provides 474 rooms of corporate lodging space for guests. While the sale price was undisclosed, it is estimated that …
Continue reading “Warner Center Marriott Acquired by Century City Based Laurus Corp.”
As we continue with the aftermath of the government shutdown, one thing that seems puzzling is a decline in mortgage applications following a decline in rates. The latest figures are as follows: mortgage applications in the US saw a 0.6% drop, and home refinancing applications saw a 1% drop. It is interesting to note that …
Continue reading “Rates decline, and surprisingly, mortgage applications follow suit”