Archive for July, 2009
California Home Sales Increase 20.1% in June, Beverly Hills Cites Highest Median Prices
July 31st, 2009 Categories: Real Estate Tools
Home sales increased 20.1 percent in June in California compared with the same period a year ago, while the median price of an existing home declined 26.4 percent, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) this week.
“Many first-time buyers, especially those who were previously priced out of certain areas, are realizing that tax credits from both the state and federal governments, increased affordability, and low interest rates are creating a prime time to purchase a home,” said C.A.R. President James Liptak. “June marked the 10th consecutive month of positive sales gains, and the fourth month of rising median home prices.
Read more at ValerieFitzgerald.com and learn about luxury real estate in Beverly Hills, Bel Air and West L.A. neighborhoods.
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Real Estate Outlook: Positive Growth
July 29th, 2009 Categories: Real Estate Tools
There was an important piece of economic news last week that has HUGE significance for real estate and housing, but it got minimal coverage on TV and in print.
The Conference Board’s Index of Leading Economic Indicators, widely acknowledged as the most accurate predictor of future activity and output in the U.S. economy, rose by almost a point in June.
That was the third straight month of positive growth. But more importantly, it was the first time since 2004 that the index has increased for three consecutive months.
Read more at ValerieFitzgerald.com and learn about luxury real estate in Beverly Hills, Bel Air and West L.A neighborhoods.
Published: July 28, 2009 from Realty Times
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Case-Shiller: U.S. Home-price Declines Slowing
July 29th, 2009 Categories: Real Estate Tools
Since January, the index has stopped declining at a record-breaking pace each month, so S&P officials say four months of slowing declines could signal some stabilization. They warn, however, that “we likely have a way to go before we see sustained price appreciation.” In the Los Angeles area, prices are down 20% from a year ago and 42% from the 2006 peak. By price tiers, low-end L.A. is off 56% from the peak, the mid-tier is down 42% and the highest-priced tier is off 31%. Both the mid-tier and high-tier were up slightly from April, the first time that’s happened since 2006 and 2007, respectively. The worst declines from the peak so far are in Phoenix (55%) and Las Vegas (53%).
The S&P/Case-Shiller home price index, which compares sales of single-family homes with their previous sale price, was down 17% in May from a year ago.
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Why Your (Real Estate) Reputation Is So Important
July 27th, 2009 Categories: Real Estate Tools
As you grow in life, you will experience many changes along the way as you adapt to building your real estate business. Do not underestimate the importance of a good reputation. A good reputation will be a gratifying resource to you. Clients and agents will want to do business with you because you are well respected.
At times, you may be challenged as to your belief system and code of ethics.
Business adjustments are normal part of growth. When confronted with a situation that requires you to compromise, it’s a red flag. I have often asked people what they do when they are driving and see a flashing yellow light, which indicates caution, slow down. Do you adhere to the warning or do you step on the gas to get through the traffic quickly? This example is a metaphor for many choices that we make in life.
Read more at ValerieFitzgerald.com and learn about luxury real estate in Beverly Hills, Bel Air and West L.A neighborhoods.
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Stabilizing Housing Market Means + Median Home Price Increase = Time to Buy
July 24th, 2009 Categories: Real Estate Tools
The 30 year fixed mortgage rate is hanging tough at 5% and in some cases being advertised below that.
New data released in the past 24 hours suggests that the nation’s housing market is stabilizing. This wasn’t supposed to happen so fast. The median US home price increased slightly in May for the first time in over 10 months.
Southern California in particular is showing promising signs of life.
In June the median home price in LA, Orange, and San Diego Counties, some of the hardest hit by foreclosure rose significantly. Orange County’s median home price was up to $320,000 in June from $300,000 in May. Less than half of all Los Angeles home sales were on foreclosed properties. Keep in mind a large percentage of the nation’s foreclosures are right here in California.
Read more at the ValerieFitzgeraldGroup.com and learn about luxury real estate in Beverly Hills, Bel Air and West L.A neighborhoods.
From Examiner.com
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Beverly Hills Farmers Market Hits 15
July 23rd, 2009 Categories: Real Estate Tools
The Beverly Hills farmers market, which will celebrate its 15th anniversary Aug. 2, is one of the best mid-size markets in Southern California and is carefully supervised by its manager, Greta Dunlap.
McGrath Family Farm of Camarillo has started harvesting organic lima beans, which are a real treat, delicate and sweet — nothing like the pasty frozen kind. They’re the Fordhook heirloom variety, discovered in a Santa Barbara County field in 1903, when lima beans were a major crop in the area. McGrath has put in six staggered plantings of a half-acre each, so they should be available through September, conveniently shelled by machine. They’re delicious simply steamed for 15 or 20 minutes, dressed with butter or a good olive oil
Johanna Finley of Santa Ynez sets up a beautiful display of organic vegetables, including round lemon cucumbers, edible peel and all, and Zefa Fino fennel, a Swiss variety that’s amazingly tender and sweet, with an intense fragrance of licorice.
By this point in the summer, Hass avocados from hot southern growing districts are often over-mature: They can pass from green to rancid very quickly and have woody roots growing out of the seed. Hass aficionados head for coastal fruit from Ventura County, like the rich, buttery specimens that Frank and Keiko Wells of Westfield Farms bring from Camarillo. Keiko, with a gentle smile and touch, is almost preternaturally gifted at assessing avocado ripeness.
Read more at ValerieFitzgerald.com and learn about luxury real estate in Beverly Hills, Bel Air and West L.A neighborhoods.
From L.A. Times
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Southern California median real estate home sales surges in June
July 21st, 2009 Categories: Real Estate Tools
Southern California home prices may have finally hit bottom, with median values rising last month for the first significant increase in two years, new data show.
Along with the 6.4% rise in prices from May, fewer than half of the sales were foreclosures — the first time that has happened in nine months.
“I think we can now say with fair degree of confidence the pace of real home price declines has slowed dramatically,” said Los Angeles economist Christopher Thornberg, who was an early predictor of the housing bubble.
But Thornberg and other analysts cautioned that the housing market remained wobbly and prices wouldn’t rise substantially in many neighborhoods for months or even years. The median price of $265,000 is far below the 2007 peak of $505,000.
Read more at ValerieFitzgerald.com and learn about luxury real estate in Beverly Hills, Bel Air and West L.A neighborhoods.
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Website Provides Free Lists Of The Top Ten Best Real Estate Deals
July 15th, 2009 Categories: Tips & Tools
TopTenRealEstateDeals.com is a new independent website offering Top 10 lists of today’s best real estate deals available on the Internet. The site offers a weekly Top 10 list of national (United States) deals and monthly regional lists broken down by major hot spot markets. The information is offered free for publication to the press/media.
Read more at ValerieFitzgerald.com and learn about luxury real estate in Beverly Hills, Bel Air and West L.A neighborhoods.
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