Playa Vista, CA

Less than 48 hours after being staged by Art and Soul Home Staging, this Playa Vista Townhouse received a offer that is in negotiation. Prior to that, it had been listed mid-July without getting any serious offers.

Playa Vista boasts the best of Southern California living with a fantastic location near Playa del Rey and Marina del Rey, close to shops and restaurants, easy access to LAX and the freeways, and a vast array of activities and amenitites for its residents. However, these are just some of the elements that buyers are looking at. With so many Playa Vista properties to choose from, make your listing stand above the others by showcasing it with Professional Home Staging by Art and Soul Home Staging.

Wouldn't you love to get serious offers this fast? Call a Professional Home Stager to prepare your next listing so that it outshines the competition!

Art and Soul Home Staging proudly serves Los Angeles and the beach communities.

The Market Report for August 2009 for Playa Vista, CA. is quite different from the previous month. There is a larger inventory to choose from. There are currently 40 Active listings about a 7.5% increase in the inventory from previous month.

The Pending inventory consists of 15 buyers who have not removed their contingencies and 11 who have for a total of 26 which is an 8.5% decrease from the previous month.

There has been a 7% drop in the Sold as well month over month. This is the first time in eight months we have seen a decline.

Playa Vista community is different from the neighboring communities, since it is a Planned Urban Development and it is a very new project. Hence you either love it or you don not. Interestingly this community is the next door to Marina Del Rey, where for the eight month in a row the numbers have increased.

I just want to remind everyone, that the first time buyer's Tax credit is nearing its end. Therefore do not miss out on it.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at http://www.endrebarath.com

For those of my readers who are not familiar with Playa Vista, CA, please visit my blog post of earlier (http://activerain.com/blogsview/775995/playa-vista-ca-parks-part-1), This is one of newest planed development in Los Angeles, CA in the past fifty years. Well designed, lots of thought went into the planning and the result a "resounding success".

What is Playa Vista? By definition it is a mixed development of Luxury Condominiums, Luxury Town homes, Luxury Rentals an affluent blend of young, successful and hip residents. It is a mini city within Los Angeles, less then two miles from the Ocean. This development took twenty years in the making, some of the challenges: Coastal Commission, Nature Preservation Activists, Wetland issues...you get the picture.

Currently there are 50 Active Listings from a low of $355,000.00 for a one bedroom one bath condominium and a high of $1,119,191.00 for a three bedroom two and a half bath.

Pending home sales increase for the third consecutive month. 13 Accepting Backup Offers and 12 are solidly Pending, for a total of 25 units. This is a direct result of the record low mortgage interest rates as well as some benefit now from the first-time buyer tax credit.

We only had 2 Sold units. This is a very interesting number, since there are numerous Units inside the Playa Vista Community that sold directly from the developers; hence the Re-sale Units are competing with the Developers who are offering incentives unheard before.It also shows that Lenders are taking longer to provide loans. Last month there were 7 Pending units, hence five actually did not close.We will see next month there will be obviously more then five sales.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at http://www.endrebarath.com

Even though it is April 1^st, 2009, this is not an April Fools Joke. These are the actual numbers for the Month of March 2009.

As I reported last month there has been an increase of Active Listings compared to the January numbers. The trend continues. Currently there are now 60 Active Listings compared to 55 Actives Listings in February. This is an increase of by 9.2% (see last months Market Report http://activerain.com/blogsview/960983/Playa-Vista-CA-Market-Report-for-February-2009 ) As you see the inventory is continuing to get larger.

Now let us focus on the number of properties that are in Escrow and the ones that closed:

Currently there are 5 accepting back up offers vs. last month there were 4 and in January only 2. As you can see this trend is on the upswing as well. These are buyers who have not removed their contingencies yet and the seller's agents are still accepting other offers as back up. There are 7 Pending properties this is a drop compared to last month which was an extraordinary increase from 3 pending to 10 pending. I attribute this to lenders continuing to tighten up the Approval Process for new loans. It takes longer to get approved; hence fewer buyers have been able to remove their Contingencies.

Now let us look at how the sales numbers turned out. Actual Closings increased. The last two months it has been a steady 3 sales every month. For the Month of March 2009 we had 4 sales. Again the number is a small increase, but had I done a percentage it would have appeared as a significant increase. Keep in mind these are real numbers and as you can see the growth is continuing.

Should you like sales information/data about any other part of Los Angeles, please feel free to contact me directly.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at http://www.endrebarath.com

One of my clients asked why I have not been providing Market Reports for the Playa Vista community. I explained that there has been another agent who has been doing that. My client informed me that this person has not done it in three months or longer. Hence, since there is a need, let me provide it. By the way if you are interested in Market Data for any other area, feel free to contact me directly and I will be more then happy to provide it for you.

For January 2009 there were 51 Active Listings on the market in this semi private community. Two (2) properties are in Escrow and the buyer has not removed the contingencies yet. There are three (3) properties that are in solid escrow. As well as the most valuable data is three (3) properties sold in January of this year.

This all seems like a market snap shot, so what I would like to do is frame this in relation to 2008 as well as 2007.

The 2008 figure is not much different then the 2009, in January 2008 four (4) properties sold.

The data is interesting, that everywhere in 2007 near by, there was a much larger volume of sales. So let's see how Playa Vista fared. Interestingly there were six (6) sales in January of 2007.

So you are wondering why there is such a minor difference. This is a planned community, the first one in fifty years in Los Angeles proper. Not everyone is attracted to such a community, as well as there is an additional cost that you have to pay above and beyond the community fees, that is for the infrastructure such as roads, sewer system etc.

So not every one can or wants to pay for that.

I love this community, since it was planned out so well. See my post about the Parks (Playa Vista ,CA. Parks Part #1).

So in conclusion starting today, I will provide you with monthly Market data as well as an annual summary for Playa Vista.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at http://www.endrebarath.com