This is when Months of Inventory (supply) decreases…and so do home values…okay, 1.2% is not much of a decrease in the Average Sale Price Per Square Foot.  The Market Index increased another 5 points to 0.46, led by an uptick in New Listings, a drop of  new Pendings, and an increase in New Sales (as we predicted last month).  As to be expected, Months of Inventory decreased, however values continue to feel pressure.  The impact of the new lower loan limits (from $729K to $625K) are not going to help home values.  These changes took effect  September 30^th.  It appears that tight inventories may prop up values; we will see.

Market Activity Index – one of the few areas where the Index is actually headed UP (less of a buyer’s market, not a seller’s market though).

Months of  Inventory – probably a big reason that values have not declined more, a lot less inventory that other areas.  Could be families buying homes due to the schools?

Average Sale Price – Given the relatively low proportion of Distressed Sales, less than a fifth of the closed escrows are Short Sales or REOs, values only dropped $4,000…compared to $80K in Burbank.

Average Sale Price Per Square Foot – this is a different way to look at value.  My point of view is that when both Average Sale Price and the Price Per Square Foot are moving about the same, then they are fairly accurate.   So values are still declining, like every other market in our area.

Recommendations

For buyers – Interest rates have dropped this month, but loan limits are also lower/  This the perfect market to purchase a larger home or investment property.  Contact our office for custom list of Best Buys to help you get started. Be aware that a lot of the inventory needs a lot of work.

For sellers   – If you have to sell, then you will need our no-obligation Highest Price Analysis.  Don’t leave money on the negotiating table – you need every dime when you are selling in a buyer’s market. Buyers expect a deal. Period.

For a no-obligation consultation call today.

Data from i-Ttech MLS has not been verified, is not guaranteed, and is subject to change.

The Market Activity Index bounced up to 0.41, up 3 points from last month, 6 points from last year.  New Listings declined, but New Pendings picked up, pointing to more sales next month.  New Sales dropped, nudging up Months of Inventory to almost even with last year. Distressed sales comprise almost HALF of the sold listings, pressuring the Average Sales Price down $36, 014,  even more importantly the Average Sale Price Per Square Foot  declined a whopping 12.4% compared to 2010.  As the economy continues to struggle, it is hard to make an argument that values will hold.  This is a great time to purchase a larger home and invest in income property to be bought and held.  

The Market Activity Index – appears to be headed slowly but surely deeper into a buyer’s market.  I remind my clients, “half of you are happy all the time”.

Months of Inventory – almost even with last year, which makes sense given the mix of almost half of the sold listings either Short Sales or REO properties.

Average Sale Price – this can be deceiving, as the Average has increased over the past few months, but compared to the 3rd quarter of 2010, definitely lower, 18.3% to be accurate.

Average Sale Price Per Square Foot – more bad news for sellers, the Average dropped 12.5% compared to a year ago. for the third month in a row.

The good news is that interest rates are low, so this is a great market to buy a larger home and investment property.

Recommendations

For buyers – Interest rates have dropped, still historically low.  Note that Congress did not extend the higher loan limits, so above $625,500 you’ll need to come up with 20% down.  Ask for our list of Best Buys for your area.

For sellers–  This is a buyer’s market, so be sure to ask for our Maximum Home Value Audit to learn the features of your home that buyers will find the most attractive. A properly prepared and marketed property will still sell for more money than one that is not.

For a no-obligation consultation call today.

The Market Activity Index dropped 10 points from last month, now lower than last year.  New Listings declined  a little, and New Pendings dropped from last month, with fewer New Sales, resulting in a small increase in the Months of Inventory.  One third of the closed sales was distressed properties, slightly down from last month, but double last year.  Compared to a year ago the Average Sold Price Per Square Foot dropped 9.7% and the Average Sale Price $87,530.  

Market Activity Index, mirroring other markets, we continue to slide into a stronger buyer’s market

Months of Inventory – continues to remain on the lower end, which buyers will find frustrating when they run into multiple offers for well-priced properties.

Average Sale Price – dropped over $87,000m which is simply discouraging for the half of the market selling.  Buyers, OTOH, love it.

Average Sale Price Per Square Foot – Although lower than last year, we appear to have hit a soft bottom.  With one third of sales distressed, one would have to be naive to think that values will not continue to falter.

Recommendations

For buyers – Interest rates still are very low, it is almost like free money.  This is a great market to buy a larger home or investment property.  Ask for our list of Best Buys  – call or email the office.

For sellers – Sellers with properties above a value of $625K will probably see values fall due to the reduction in higher loan limits.  Ask for our Highest Value Property Audit to learn how to make the most when you sell.  We can show you what buyers want and how to market your home to attract buyers who will pay top dollar for what they want and need.  For a no-obligation consultation call today.  A little extra effort can make a big difference in your bottom line.

East San Fernando Valley, CA                           February, 2011

North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.

Stats At A Glance

The Market Activity Index jumped up 0.25 points from last year and 0.27 points from last month, very surprising given the economy.  The Pending Ratio is off the charts, probably due to buyers taking advantage of low interest rates and prices. Distressed sales continue to impact values and Months of Inventory declined, expect more of the same. 

Recommendations

For buyers – This is a great time to buy.  Interest rates are still low, so don’t miss this opportunity.  For our list of Best Buys call or email the office.

For sellers – If you need to sell, whether a standard sale or a short sale, call us today.  Ask for our Maximum Property Value Audit to learn how to maximize your profit /minimize your loss – when you sell. 

Contact us for a no-obligation consultation call today.

Northeast Los Angeles October, 2010

Atwater Village, Eagle Rock, Glassell Park, Highland Park, and Mount Washington

Stats At A Glance

he Market Activity Index dropped .51 points to 0.28, which is the lowest index since February 2009.  Given the increase in Months of Inventory we can probably expect prices to decline in the next few months.  The Fed is hoping that the housing market will lead the country out of the economic slump, however they have it backwards.  Buyers need to have a good job and make a good living in order to afford to buy.

Recommendations

For buyers –Interest rates are the lowest in 60 years…so if you are thinking of buying a residence or investment, now is the time.  Making low-ball offers might just work in some cases.  For our list of Best Buys call or email the office.

For sellers –   If you need to sell, regular sale, or a short sale, call us today.  Ask us about our Highest Value Property Audit to find out the features of your home that buyers will value the most and how to avoid leaving money at the negotiating table.

For a non-obligation consultation call today.

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

888-284-2056

Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change

Sunland – Tujunga – Shadow Hills                          October, 2010

Stats At A Glance –

The Market Activity Index decreased .06 points, down .29 from a year ago. The last time the Activity Index was this low was March, 2009.  Months of Inventory increased again, so it appears we are definitely shifting to a stronger buyer’s market.  We are also seeing a decline in values, which makes sense…supply goes UP, prices go down.  Even with record low interest rates buyers are being hit hard by the economy. However, if you can buy now’s the time to do so.

Recommendations

For buyers – Even with the Fed buying down the interest rates so low that “I Like Ike” was the last time they were this low, buyers just don’t have the cash to buy.  In a buyer’s market you can obtain the best deals on a home.  Especially if you are renting, now is a great time to buy.  For our list of Best Buys – call or email the office with your needs.

For sellers – Even in a strong buyer’s market some homes sell for more than others.  Let us analyze your situation by asking about our Highest Property Value Audit.  No obligation, no problem.  We can show you how we can help you get every dime out of your property if you have to sell.

Call us today for a no-obligation consultation.

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

888-284-2056

Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change

West San Gabriel Valley September, 2010

Pasadena, Altadena, South Pasadena, and San Marino

Stats At A Glance

The Market Activity Index declined .07 points from last month to 0.22, heading toward an even stronger buyers market.  24% more new listings than last year and a Pending Ratio that declined by almost HALF means Months of Inventory is increasing and fewer closed sales. The Average Sale Price Per Square Foot is only $5.87 up from last year, down from last month, the first drop since June

Recommendations

For buyers – Interest rates are the lowest is Dwight D. Eisenhower was president over 60 years ago.  Even with these great rates, buyers remain cautious. Remember, in a buyer’s market, buyers should BUY. Find your best deal today!

For sellers –   If you have to sell, regular sale or short sale, we can help.  Ask for our Highest Value Property Audit to learn the most valuable features of your property and how to maximize their value to buyers so you do not leave any money on the negotiating table.

Call us for a no obligation consultation today.

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

888-284-2056

Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change

La Crescenta/Montrose/Glendale Annex             October, 2010

Stats At A Glance

The Market Index declined 16 points to 0.26 – the last time we were this far into a buyer’s market was February, 2009.  We continue to see more new listings coming on the market, which is unusual  for this time of year, made worse by fewer listings entering escrow, meaning fewer new closed sales next month, and more inventory…twice what we had a year ago.  This is an established trend showing no sign of it weakening.

Recommendations

For buyers – Supply goes up, prices go DOWN, and low interest rates make this a great time to buy.  If you are looking at living in your home for the next five years, take advantage of the lower prices now.

For sellers – If you have to sell, then contact us for our no obligation Highest Price Analysis.  Don’t leave money on the negotiating table – you need every dime when you are selling in a buyer’s market.

For a no-obligation consultation call today.

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

888-284-2056

Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change

La Cañada Flintridge, CA                                  October, 2010

Stats At A Glance

The Market Activity Index held steady (the ONLY area this month that did not decline!)  This is where the uniqueness ends, however.  We also see more new listings on the market, fewer listings entering escrow, so fewer closed sales next month, and an increase in Months of Inventory, meaning a drop in prices, which is what we are seeing.

Recommendations

For buyers – What a difference a few months make.  With interest rates at historic lows, buyers are in a great position to do some bargaining.  Also a great time to re-finance.  Check with your mortgage professional about what is best for your situation. For our list of Best Buys call or email the office.

For sellers – Don’t leave any money at risk if you have to sell.  Ask us for our Highest Value Property Audit.  Call us today for a no-obligation consultation so you can learn about your options.

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

888-284-2056

Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change

East San Fernando Valley, CA                        October, 2010

North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.

Stats At A Glance

The Market Activity Index actually INCREASED, contrary to the local market trends.  Regardless, prices seem to be trending downward, so no matter how you cut it, we are in a firm buyer’s market. Months of Inventory is almost double what it was a year ago, so this is a great time to do some negotiating.

Recommendations

For buyers – This is a great market if you are making enough money to feel comfortable buying.  With interest rates the lowest in 60 years, buy if you can.  For our list of Best Buys call or email the office.

For sellers – If you need to sell, whether a standard sale or a short sale, call us today.  Ask for our Maximum Property Value Audit to learn how to maximize your profit /minimize your loss – when you sell.

Contact us for a no-obligation consultation call today.

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

888-284-2056

Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change