Mark's episode of 'Good Buy/ is scheduled to air August 16th. Please check your cable/satellite provider for the time (on Dish it is 9:30 am and Direct is 12:30pm).
Showing posts with label san fernando valley. Show all posts
Showing posts with label san fernando valley. Show all posts
Monday, June 22, 2009
Mark's 'Good Buy/Bad Buy' Premiere
Mark's episode of 'Good Buy/ is scheduled to air August 16th. Please check your cable/satellite provider for the time (on Dish it is 9:30 am and Direct is 12:30pm).
Monday, November 17, 2008
Unique Homebuying Opportunities Abound
Although the newspapers and Wall Street is flooded with depressing information on the economy, and despite Dow Jones record lows as well as the recent news that the government will not be buying up bad debts from banks, there are still multiple opportunities in the Real Estate Market for buyers who hold a decent fico score and can validate their current income. This means that many buyers are still finding foreclosure and short sale deals well under the market value compared to 2005. To help buyers buy these properties, several programs have been created to help buyers qualify and receive funding from banks.
This is a recent article by the Southern Regional Association of Realtors which lists the different programs available to buyers today.
Unique Homebuying Opportunities Abound
Regardless of market conditions, an opportunity always exists in the residential real estate market. That tried and true maxim is particularly accurate today as aid programs appear that are designed to steady the residential housing market and reopen the doors of home ownership to a wide range or prospective buyers.
Even as some home owners still struggle with the excesses of the past, once-in-a-lifetime opportunities to buy are available now or will soon emerge. No one knows how long these special programs will be available.
Remember, prices are at an all-time low. Interest rates are favorable. Lenders are making loans, albeit at higher qualifying standards. And, while not excessive, the inventory of homes listed for sale offers a wide selection. That inventory contains attractively priced homes being sold through foreclosure proceedings along with many listed for sale by traditional sellers, which often can offer a quicker, easier sale at a more attractive price.
There is ongoing debate as to whether rescue efforts from the nation's capital will prolong or speed the recovery, but several points seem crystal clear:
Recovery is, in fact, underway. More assistance programs are likely to emerge in coming weeks. At some point in the not to distant future, today's buyers' market will fade and a golden opportunity to buy a home and invest for the future will pass.
This is a brief overview of just a few of the many aid programs designed to help first-time and repeat home buyers. A more detailed version of this story aid programs are available at http://www.srar.com/.Contact your Realtor®for details.
Higher Loan Limits
The higher loan limit of $729,750 - due to be eliminates at the end of December - makes loans more affordable, especially in high-cost housing regions such as California.
FHA loans are back
FHA loans are back in force and are plentiful. In some instances the down payment required is as low as 3%. More than 20 percent of new loans are expected to have FHA financing.
Realtors offer $4,000 Grants
First-time home buyers who purchase a home in the San Fernando or Santa Clarita Valleys may be eligible to receive a $4,000 grant to ease the burden of closing costs. The grants are available from the Southland Regional Association of Realtors. For details, write via email to Rubenf@srar.com.
L.A.City and California Programs
An array of city and state programs are available to help low- to moderate-income buyers into a home. Many programs are aimed at first-time buyers, but repeat buyers are welcome, too, to get assistance with a down payment or closing costs.• The California Housing Finance Agency - CalHFA offers multiple programs to help families purchase a home. Call your Realtor today for details on these and a growing number of homebuying opportunities!
For more information please visit www.MarkSellsLA.com
Written by Mark Gonzales Copyright 2008
Mark Gonzales, Realtor, real estate agent specializing in marketing and selling residential homes, condos, and commercial real estate sales in Los Angeles, San Fernando Valley, Woodland Hills, Sherman Oaks, Studio City, Encino, Tarzana, Calabasas. Please visit www.MarkSellsLA.com for more information.
Tuesday, October 28, 2008
ARE WE AT THE BOTTOM?
The sales data for September has been released from the Southland Regional Association of Realtors and to everyone’s surprise the numbers are outstanding.
Existing single-family home sales in the San Fernando Valley dramatically increased 81.8 percent during September compared to a year ago. 658 homes sold to new buyers last month- 296 more homes sold than last year this same time. The number of condo sales also saw an increase during September at 36.1 percent to 211 transactions- 56 sales higher than a year ago.
This may signal that we are at the bottom of the sharp decline in local real estate values that we have seen in the last 3 years. From personal experience I’m seeing much demand from buyers as they recognize that pricing of homes are at affordable levels. My buyer clients who are actively writing offers see competition from other buyers who are looking take advantage of the opportunities that the local real estate market presents. I would say 90% of my sales have involved multiple offer situations.
With that said, it may be still be too early to accurately predict whether the recovery of the housing market will be slow or fast due to the fact that the details of the legislative efforts that aim to rescue homeowners are still being ironed out. Moral of the story is that if you are looking to buy a property, can comfortably afford the monthly payments, and plan to live in the home for at least 5 years, you will most likely see appreciation in your home. The tax advantages in most cases afford homeowners monthly payments that are in equivalent to renting.
Most importantly you can take pride in saying you own your own home.For more information visit: http://www.srar.com/members/rronline/10-27-SFVsales.php
Existing single-family home sales in the San Fernando Valley dramatically increased 81.8 percent during September compared to a year ago. 658 homes sold to new buyers last month- 296 more homes sold than last year this same time. The number of condo sales also saw an increase during September at 36.1 percent to 211 transactions- 56 sales higher than a year ago.
This may signal that we are at the bottom of the sharp decline in local real estate values that we have seen in the last 3 years. From personal experience I’m seeing much demand from buyers as they recognize that pricing of homes are at affordable levels. My buyer clients who are actively writing offers see competition from other buyers who are looking take advantage of the opportunities that the local real estate market presents. I would say 90% of my sales have involved multiple offer situations.
With that said, it may be still be too early to accurately predict whether the recovery of the housing market will be slow or fast due to the fact that the details of the legislative efforts that aim to rescue homeowners are still being ironed out. Moral of the story is that if you are looking to buy a property, can comfortably afford the monthly payments, and plan to live in the home for at least 5 years, you will most likely see appreciation in your home. The tax advantages in most cases afford homeowners monthly payments that are in equivalent to renting.
Most importantly you can take pride in saying you own your own home.For more information visit: http://www.srar.com/members/rronline/10-27-SFVsales.php
Wednesday, October 1, 2008
REAL ESTATE MARKETS ARE LOCAL, SOME LA AREAS SEE DOUBLE DIGIT GAINS
Nationally, the real estate market has been declining in most major cities. But what the general public and media fail to see is that real estate markets are local. Each city and areas within cities have different industries that fuel their local economies. As a result, appreciation rates vary tremendously across the country and in different zip codes and towns. The Los Angeles area has a well diversified economy with one industry that is unique and indigenious to the city; the Entertainment Industry. The Entertainment Industry offers executives, celebrities, and creative professionals high salaries that help increase median prices in the most desirable areas of the county.
The Los Angeles County median price sales data for July 2008 proves that real estate markets are local. There were 20 areas in Los Angeles County where median prices rose in July 2008 from July 2007. The most notable area, Playa del Rey zip code 90293, tops the list for the highest gain in median sales price for July 2008 at 41.40% with a median price of $1,238,000. Other areas include, LA/Westwood zip code 90024, where the median price for properties sold in July 2008 was $1,791,000, an astounding 32.60% gain in value from July 2007. Beverly Hills zip codes 90210 and 90212 saw appreciation rates of 23.5% and 26% respectively. Malibu had median price gain of 18.3% and Pasadena zip code 91105 had a gain of 25.90%.
Please copy and paste this link in a new tab to see the median home sales data for all cities and areas in Los Angeles county.
file:///C:/Documents%20and%20Settings/Jeanette/My%20Documents/blog%20photos/LACountyHomeSales0708.jpg.html#
For more information please visit www.MarkSellsLA.com
Written by Mark Gonzales Copyright 2008
Mark Gonzales, Realtor, real estate agent specializing in marketing and selling residential homes, condos, and commercial real estate sales in Los Angeles, San Fernando Valley, Woodland Hills, Sherman Oaks, Studio City, Encino, Tarzana, Calabasas. Please visit www.MarkSellsLA.com for more information.
The Los Angeles County median price sales data for July 2008 proves that real estate markets are local. There were 20 areas in Los Angeles County where median prices rose in July 2008 from July 2007. The most notable area, Playa del Rey zip code 90293, tops the list for the highest gain in median sales price for July 2008 at 41.40% with a median price of $1,238,000. Other areas include, LA/Westwood zip code 90024, where the median price for properties sold in July 2008 was $1,791,000, an astounding 32.60% gain in value from July 2007. Beverly Hills zip codes 90210 and 90212 saw appreciation rates of 23.5% and 26% respectively. Malibu had median price gain of 18.3% and Pasadena zip code 91105 had a gain of 25.90%.
Please copy and paste this link in a new tab to see the median home sales data for all cities and areas in Los Angeles county.
file:///C:/Documents%20and%20Settings/Jeanette/My%20Documents/blog%20photos/LACountyHomeSales0708.jpg.html#
For more information please visit www.MarkSellsLA.com
Written by Mark Gonzales Copyright 2008
Mark Gonzales, Realtor, real estate agent specializing in marketing and selling residential homes, condos, and commercial real estate sales in Los Angeles, San Fernando Valley, Woodland Hills, Sherman Oaks, Studio City, Encino, Tarzana, Calabasas. Please visit www.MarkSellsLA.com for more information.
Thursday, September 25, 2008
REAL ESTATE MARKET OUTLOOK
National Association of Realtors (NAR) President Dick Gaylord sits down with NAR Chief Economist Lawrence Yun to discuss what is happening in the market and what REALTORS® can expect in the coming months. Click the video feed to see their thoughts on the future of the Real Estate Market in 2009.
For more information please visit www.MarkSellsLA.com
Written by Mark Gonzales Copyright 2008
Mark Gonzales, Realtor, real estate agent specializing in marketing and selling residential homes, condos, and commercial real estate sales in Los Angeles, San Fernando Valley, Woodland Hills, Sherman Oaks, Studio City, Encino, Tarzana, Calabasas. Please visit www.MarkSellsLA.com for more information.
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