Real-Estate-Agent-Los-Angeles.com

Considering a short sale?

noreply@blogger.com (Dahcredyns) — Tue, 24 Mar 2009 22:34:00 +0000

Is it really a good deal?

Patience. That's the key to short sales. If your in the real estate market, and you're considering a short sale. Here's five things to consider. Finish

Home prices up nationally, down in Pacific

noreply@blogger.com (Dahcredyns) — Tue, 24 Mar 2009 22:01:00 +0000

Down .9 percent in the Pacific

Home prices were up 1.7 percent nationally in January compared to December. However, in the Pacific region, prices were down .9 percent. Overall, in 2008 home prices declined 21.1 percent in the Pacific region. More...

Add value to your real estate with government help

noreply@blogger.com (Dahcredyns) — Tue, 24 Mar 2009 18:52:00 +0000

Need a new water heater or air conditioner?

So you aren't going to qualify for any bailout money or a mortgage modification? You could still find yourself claiming some bailout cash if you plan to upgrade your home with any of a number of products that enable increases in energy efficiency. For example, if you are replacing windows, adding a new AC unit or a water heater, for instance, you could claim a 30 percent tax credit up to $1500 for your effort.

Have bigger plans, such as adding solar panels to your roof? The credits are even far greater (more).

First time home buyer tax incentives

noreply@blogger.com (Dahcredyns) — Thu, 19 Mar 2009 19:51:00 +0000

Are you ready to buy your new home?

If yes, then in this economic climate you should make certain to take advantage of every opportunity afforded. And, as a first time buyer, you qualify for special tax incentives if you buy a home this year. Unfortunately, ensuring that you receive the tax credit isn't as simple as it seems. Read more....

Mortgage modification guidelines

noreply@blogger.com (Dahcredyns) — Thu, 05 Mar 2009 18:47:00 +0000

Do you qualify

Are you living in your home right now, but finding it harder and harder to keep up with your mortgage payments? Perhaps, if you could just lower your rate, you'd have the ability to keep up? However, since you owe more than your house is worth, you can't refinance?

If so, check out this article on the guidelines for qualifying for a government-backed mortgage modification.

You can afford $20,000 more house today

noreply@blogger.com (Dahcredyns) — Wed, 04 Mar 2009 15:08:00 +0000

Time to buy?

Diana Olick reported on CNBC yesterday that today's home buyers can afford $20,000 more home today than this time last year. Thanks to lower mortgage rates, price drops, etc, the deals in real estate are better than ever.

Of course, have we really bottomed? Then again, will rates eventually go up?

The real estate market is still a crap shoot.

4.0 percent for all US mortgage holders?

noreply@blogger.com (Dahcredyns) — Tue, 03 Mar 2009 21:44:00 +0000

Why not?

Just watching CNBC and a guest suggested a 4.0 % mortgage for all Americans with a mortgage. I like it. Isn't this the kind of transparency and simplicity that politicians should strive for? Besides, isn't this the best way to treat the mortgage mess?

West coast housing revised upward for December

noreply@blogger.com (Dahcredyns) — Tue, 03 Mar 2009 15:04:00 +0000

Up 2.4 %

Hey, the real estate market is picking up in California, kind of. Thanks to foreclosures and the Chinese citizens picking them up at bargain rates, the California real estate market appears to be nearing a bottom. And, for buyers, home affordability has never been more affordable according to the National Association of Realtors.

Have you Zetabid on a foreclosure?

noreply@blogger.com (Dahcredyns) — Mon, 02 Mar 2009 16:54:00 +0000

I've been following the Los Angeles real estate market for a long time, but I've never been involved in the foreclosure game. However, considering the massive amount of foreclosures that are hitting the Southern California real estate market, I'm considering it.

Have you ever used Zetabid? I'm looking for some Zetabid experiences.

Anybody used to Zetabid to purchase a foreclosure recently. Did it work out well?

Los Angeles a Bright Spot in California real estate?

noreply@blogger.com (Dahcredyns) — Wed, 27 Dec 2006 22:04:00 +0000

I watch CNBC pretty regularly and there have been some pretty interesting real estate reports coming out lately. Overall, the real estate market in the U.S. isn't looking very good; however, there are some bright spots in the NorthWest and in Florida, according to much data. Overall, California is primed for a drop in real estate prices and San Diego is probably the market facing the biggest losses in real estate value. Even San Francisco is not a healthy real estate market. Yet, many analysts claim that Los Angeles is probably the strongest market in California. So,if you were expecting a big real estate bust in Los Angeles before buying a home, you might want to head down to San Diego instead.

No big price drops for Southern California real estate?

noreply@blogger.com (Dahcredyns) — Fri, 13 Oct 2006 21:01:00 +0000

As home buyers retreat and wait on the sidelines for the Southern California real estate market to crash, some sellers are taking action. According to the LATimes, many home sellers are taking their homes off the market, rather than reducing their home sale prices. Many other sellers are still leaving their homes on the market, but refusing to drop their price. If these sellers can't sell without a hefty price reduction, they are ready to stay put. Consequently, the number of homes available in all the Southland real estate markets is dropping, even though home sales are also dropping.

Since the economy is strong and the job market remains steady, many home sellers are in no rush. Unlike the last downturn in the So Cal real estate market, there are only a small amount of foreclosures occurring. As a result, even though home sales are declining, home prices are still sheltered, as long as the economy remains strong.

Do you need a Los Angeles real estate agent?

Los Angeles real estate prices stabilizing?

noreply@blogger.com (Dahcredyns) — Mon, 09 Oct 2006 21:27:00 +0000

In recent months many home buyers have pulled out of the real estate market, deciding to wait for a few months to see what happens. To be sure, more homes have hit the market followed by some price depreciation, however, is the big price correction still to follow?

Realestatejournal.com points out that while real estate data has shown declines in recent months, many real estate reports, such as one by Harvard, point out that declines of 5% are extremely rare and require severe overbuilding and massive job loss - neither of which have occurred in the Los Angeles area. Consequently, predicting the real estate market is like predicting the stock market - it's almost impossible to predict.

Then, last Friday, Allen Greenspan noted that the "worst may be over" for the real estate market (more).

Consequently, if the job market in the Los Angeles area stays strong and mortgage rates stay at their current levels, or even drop, real estate prices might just stabilize. Sure home values might not appreciate much, but they won't depreciate much either, until something causes the next real estate boom or bust.

Again, predicting that is almost impossible.

Los Angeles real estate to depreciate 4.8% by 2008?

noreply@blogger.com (Dahcredyns) — Thu, 05 Oct 2006 22:55:00 +0000

The housing bubble. Is there a real estate bubble? Will there be a soft landing or will home prices crash? No one really knows and different surveys and experts claim different things. Still, according to a study by Moody's Economy.com, Los Angeles real estate is expected to depreciate by 4.8% over the next year and a half, bottoming out in April of 2008. (more)

Southern California real estate appreciation slows to less than 3%

noreply@blogger.com (Dahcredyns) — Fri, 22 Sep 2006 16:07:00 +0000

"For the first time since the latest housing boom started six years ago, home price appreciation for each of the six Southern California counties has fallen to single-digit levels or worse, data released Tuesday showed." (more)

While it seems obvious that the days of double digit home appreciation are over in Southern California, when will we see price depreciation? More important, how much price depreciation will we see?

Already, some economists are speculating that the Fed might actually lower rates in early 2007, which could push mortgage rates lower as well. Would this delay, or even prevent, such a downturn? Could it cause another mini-boom?

Foreclosures up 53% in August

noreply@blogger.com (Dahcredyns) — Tue, 19 Sep 2006 15:24:00 +0000

"In August, 115,292 properties entered into foreclosure, according to RealtyTrac, an online marketplace for foreclosure sales. That was 24 percent above the level in July and 53 percent higher than a year earlier." (More)

Much of the spike in foreclosures is being driven by ARM loans. While California, Nevada and Florida have spiked the most recently, the hardest hit areas could end up being in the Midwest where slumping job markets could make rising mortgage payments more difficult to manage.

Will falling energy prices buoy the real estate market?

noreply@blogger.com (Dahcredyns) — Wed, 13 Sep 2006 17:40:00 +0000

Many economists claim that markets, such as real estate, are strongly affected by psychology. Consequently, the current real estate boom, many economists claim, has been driven by the irrational exuberance of our overly optimistic psychology, which is now not quite so optimistic.

Other economists don't disagree that psychology affects markets; however, they believe much of the current real estate market has been driven by changing fundamentals that ultimately drive up the value of real estate. Sure psychology has built up some froth in some markets, but mostly, they claim, current real estate prices reflect a new reality.

Nonetheless, in recent months, more and more real estate buyers have moved to the sidelines and the media has noticed. 'When will the crash come,' every one is wondering, and our psychology has become even more negative. Yet, there is no proof a crash will come. Likewise, there is no proof a crash won't come. Once again, we're talking psychology.

Yet, a slowing real estate market isn't the only thing affecting consumer psychology right now. High energy prices have also had a negative effect on consumer psychology. Ironically, high energy prices spiked around the same time the real estate market started slowing more significantly.

Perhaps, high energy prices had something to do with the slowing real estate market?

Recently MarketWatch noted, "In terms of dollars and cents alone, I would bet that falling energy prices will have more of an impact on the economy than falling home prices. This is because we use energy constantly, and thus benefit when its cost is lower. Housing, on the other hand, is not something that is bought and sold daily like energy or any other commodity, although there's been a plethora of home-equity loans that have allowed a number of consumers to spend more than they earn."

Thus, might falling energy prices restore a little consumer confidence? If consumer confidence starts to build, might this not also affect the psychology of the real estate market?

Even more interesting, what if the current real estate slowdown pushes interest rates to their lowest levels in many months, just as consumer confidence over lower energy prices builds? Could this not rekindle consumer confidence in the real estate market?

While an energy driven boost in consumer confidence might not drive up home appreciation into double digit gains, it could possibly spark new gains in home values.

Is the LA housing bubble overrated?

noreply@blogger.com (Dahcredyns) — Wed, 13 Sep 2006 00:24:00 +0000

As a Southern California home owner, I've thought that the prices of homes in Southern California are ridiculously high. Recently, however, I've considered selling my Los Angeles home, and I think I've changed my mind.

Where would I move?

Every place I've considered simply doesn't compare to Los Angeles. For those of you whom have never lived in Los Angeles, or Southern California, I can imagine your shock. Still, I have great business connections in LA, would I be able to utilize the same connections in Palm Springs, Austin, TX or Minneapolis, MN?

What about the weather? In LA, today, the weather is insane. We're experiencing the warmest weather Minneapolis EVER experiences - without the humidity. Let's face it, there is a reason why football stadiums in Southern California ARE NOT domes - our worst weather is the best fall and spring weather of places like Minneapolis.

So what if a nice 5 bedroom house in Minneapolis goes for $350,000? It's fricken freezing 6 months out of the year there. While they are holed up in the basement playing ping-pong or are out in a shanty ICE fishing, I'm outside complaining about how cold 65 degrees feels.

Are you kidding me?

Still, I'm not saying $350,000 isn't worth it in Minneapolis. I'm just saying $500,000 in Los Angeles might be a bargain. Sure home prices might recede a bit, but are you going to tell me that in 10 years, the average home isn't going to be worth far more than $500,000?

Please!

There might be a real estate bubble and prices might fall - to some extent. Still, in the long run, home prices will still be worth more than they are TODAY.

My elderly neighbor bought his home several decades ago for $6000.00. Today, that home is worth far more than $600,000. Even if today's real estate prices dropped 50%, that is STILL an unbelievable return on investment.

Bubble or no bubble, the price of real estate, eventually, always seems to rise.

Los Angeles real estate buyers hit the sidelines

noreply@blogger.com (Dahcredyns) — Mon, 11 Sep 2006 22:37:00 +0000

If you've been in the market to buy a home in Southern California, then you know how high prices have become. The word is, buyers have hit the sidelines to wait for a correction in home prices.

In a recent article in the Los Angeles Times, Bob Taylor of Bob Taylor Properties stated, "Unless they can get a good offer accepted, about 75% to 80% of my clients are saying they want to wait up to one year for 10% to 15% price adjustments."

While that sounds like a great idea, is it realistic?

In the same article, real estate bear and director of UCLA Anderson Forecast, Edward Leamer, stated, "Prices are going to be a little weaker a year from now, and there'll be more listings and more choices."

However, Mr. Leamer is only predicting an annual 2%-3% drop in real estate prices per year for the next three to five years.

If Mr. Leamer is correct, Mr. Taylor's clients might be waiting 5 years, rather than 1 year to buy into the Southern California real estate market.

Moreover, if Mr. Leamer is correct, would renting for 1 year for a 2% drop in real estate prices be worth the wait?

More on the Southern California real estate bubble.

Blah, blah, blah: The Southern California real estate bubble

noreply@blogger.com (Dahcredyns) — Fri, 08 Sep 2006 21:03:00 +0000

Are you tired of hearing about the real estate bubble? If you are in the market for a home in Southern California, then you probably are hoping all this bubble talk eventually turns into a serious decline in home prices.

But is a significant drop in home prices ever going to happen and when, if at all?

According to a survey of 46 economists completed by the Wall Street Journal, you shouldn't expect much to happen for the next year or two. Through 2007, the majority of economists see stable home prices, or maybe a subtle decline - and we're talking a couple percent at most. (more)

While some economists do believe that this slowdown could eventually push prices considerably lower, it is beginning to appear that any larger price depreciation is still a couple of years away.

Is it worth waiting?

How much money will you lose by renting for the next couple of years? How much more expensive will your mortgage be if interest rates rise significantly?

It might very well be in any home buyer's interest to wait and see how the real estate bubble is going to play out; however, one thing is clear. If you are purchasing a home to live in for the next several years, historically, any price depreciation will eventually be recovered.

Timing the real estate market, like the stock market, is almost impossible. In such uncertain times, plan for the long term. The days of flipping at a profit are over.

More on the Southern California real estate bubble.

Are you desperate to sell your home?

noreply@blogger.com (Dahcredyns) — Tue, 22 Aug 2006 18:06:00 +0000

"In the toughest markets -- including the Florida cities, Detroit, Atlanta, Dallas, Stockton, Sacramento and San Diego -- incentive is the name of the game. One Florida agent offered a Mercedes-Benz with a house sale. Others dangle vacations or gift cards with thousands of dollars in gasoline." (more)

Of course, not everyone can afford to offer $1000s in incentives, but it's the idea that really counts. If you live near a cool attraction, for example, you could simply offer tickets for an event. The idea is to provide a little sizzle to your property - something that makes it stand out against all the others.

For more tips, check out this link.

Is the Southern California real estate bubble finally ready to pop?

noreply@blogger.com (Dahcredyns) — Thu, 17 Aug 2006 21:46:00 +0000

I find the real estate market to be absolutely fascinating, and in recent years, nothing has been more interesting than the so-called real estate bubble. While I do pay attention to what is going on in real estate throughout the Nation, I focus particularly on California, especially Southern California.

The other day I read the article, Southland Home Sales at 9-Year Low. Almost everyone knows that home sales have slowed, as more and more For Sale signs hit the front yard and stay there longer and longer. This has some eagerly waiting for the decline of home prices.

Yet, is Southern California real estate really going to drop in price that much? And, will the reduction in price be worth higher interest rates?

Well, I'll be honest, I really don't know.

During the last real estate boom and bust in Southern California, not only were jobs leaving the area, but so too were the people. While some people have left Southern California, others have taken their place. Go find an apartment in Los Angeles - it's neither fun nor easy.

Even more interesting, when one compares Los Angeles to San Francisco, L.A. is still pretty cheap. With outsourcing hitting the Bay Area so hard, that phenomenon seems a bit mystifying.

The truth is, no one knows what is going to happen. Sure, home appreciation might flatten, but to expect a huge drop in prices seems a bit hasty and overly optimistic.

What about foreclosures, you say?

According to reports that I've seen, the areas to be mostly affected by ARMs, etc., don't include the West Coast. More important, the Southern California economy is actually pretty strong and Los Angeles offers some of the better job growth of any large city.

Ultimately, no one really knows what is going to happen. If you are trying to make a quick buck off of real estate, you're probably in the wrong market. If you are in it for the long term, even if housing prices do decline, there WILL be another boom. That is simply the nature of real estate.

If you are buying or selling, all I can say is, Good Luck.

Mortgage rates down, mortgage applications down, home sales up?

noreply@blogger.com (Dahcredyns) — Wed, 26 Apr 2006 18:20:00 +0000

For the third week in a row, according to the Mortgage Banker's Association, mortgage applications are down. Additionally, mortgage rates are down, which did increase the refinancing share of new mortgage applications. Combined, this data seems to reflect that buyers are not flocking into the real estate market.

Ironically, however, new home sales were up in March more than 13%, the biggest increase in 13 years. Additionally, the National Association of Realtors reported better than expected existing home sales. (more)

Still, the real estate market does seem to be slowing, but not as much as many analysts have expected. Moreover, many so-called bubble markets, such as Southern California, continue to see higher than expected home price appreciation.

Yes, it is taking longer to move inventory and incentives are helping to move those homes that are selling, but a huge drop in home prices doesn't appear to be near.

Need a Los Angeles Area Mortgage Broker?

Want to reduce your real estate broker's commission?

noreply@blogger.com (Dahcredyns) — Fri, 07 Apr 2006 17:32:00 +0000

Do you think the commissions that real estate agents and brokers receive are too high?

You're not alone, and this is leading many entrepreneurial brokers to change their commissions - some are even willing to rebate a large percentage of their commissions back to you. One of this companies is Buyside.

"People selling homes typically pay commissions of 5% to 6% of the price, which is split between brokers representing the buyer and seller. On a $300,000 home with a 3% cut for the broker representing the buyer, BuySide would earn $9,000 and pay 75% of that, or $6,750, as a rebate to the buyer."

More on this article, (RealEstateJournal)

Need a mortgage broker?

Applications for home loans on rise as home buyers prepare for summer buys?

noreply@blogger.com (Dahcredyns) — Wed, 05 Apr 2006 16:23:00 +0000

Mortgage rates continue their move upward and consumers are taking notice. According to the Mortgage Banker's Association, 30-year fixed mortgage rates have risen to an average of 6.49%, while 1 year ARMs have fallen to 5.96%.

Thus, it appears, potential home buyers are now trying to lock in rates before they rise too high, as applications for new home loans went up around 8% compared to last week. More important, while refinancing activity was up based on the previous week, there is much less refinancing activity now compared to the same time last year.

Therefore, applications are being driven by potential home buyers. As we enter the major home buying season, it appears the so-called Southern California real estate bubble might still have some legs.

Need a Southern California mortgage broker?

Trying to time the Southern California real estate market?

noreply@blogger.com (Dahcredyns) — Tue, 04 Apr 2006 18:50:00 +0000

With many reports indicating that San Diego, Riverside and Irvine-Anaheim-Santa Ana are the most 'bubbled' markets in the Nation, many potential Southern California home buyers are waiting for a pop before buying a home. Of course, many potential buyers have already been waiting a few years for this pop. So, is it possible to time the market? Probably not, but you can at least hedge your home buying bet with the right research. Some advice I recently read suggests following the OFHEO (Office of Federal Housing Enterprise Oversight) House Price Index. This index can help you determine if prices are rising or falling in a particular market. (Money)

Visit the OFHEO site.

Need a Southern California Mortgage Broker?