Endre Barath,Jr.

Century City, CA. Market Report for July 2009. Well here we are and another month just flew by. I have been quite busy and productive, hence the delay of my monthly market report.

Since the beginning of 2009 you have read my reports and I have been showing the numbers and you could see that the Real Estate Market has been improving month over month in Century City, CA. The volume of sales has been quietly increasing from the previous month as well as year. So it should not come as a surprise to any of my loyal readers what now the media has started to bring up, such as headlines "...Is the Real Estate Bear Market Beginning to Bottom Out?"....Signs of Life in the Los Angeles Real Estate Market...." I could go on and on.

So let's see how Condominium Market for the month of July fared in Century City, CA. :

There were 314 Active Condominium Listings as of July 31, 2009

There were 34 Condominiums in Escrow where the buyers have not removed their contingencies and the Sellers were looking for back up Offers.

There were 43 Condominiums were the buyers removed all their contingencies, i.e.: solidly pending.

Now let us look at the Sales, there were 35 Closed Transactions. Keep in mind this month had many detractors such as Summer Vacations and the Fourth of July celebrations. These all historically cut into the Real Estate sales. So feel free to visit the enclosed link and you will be pleasantly surprised with this month statistics vs. last month's (http://activerain.com/blogsview/1141582/century-city-ca-midyear-market-report)

So in conclusion I am very optimistic that we will continue to have a robust summer into the Fall Real Estate Season.

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

I have been very busy during the month of June; hence my perception was that the Market has been very active. Instead of going by perception let us look at the facts.

January February March April May June

Active: 289 295 294 306 315 313

Pending: 35 10 38 50 54 50

Accepting Backups 14 20 25 30 38 27

Sold 13 14 20 19 27 42

It is very encouraging to see these statistics, in light of the fact, that I just finished looking at the Marina Del Rey as well as the Play Vista figures. They all are along the same line.

The Active listings show minor increases, never the less increases from January to June. There has been a consistent increase just like in the Pending numbers there has been a 142% increase. Just as the Accepting Backup Offers has had a 192% increase. These are truly amazing figures. If you read the Los Angeles Times you would not get these statistics. The media mentioned a small indication, that there has been a positive activity in the Real Estate Market, not what the true figures show which was as a phenomenal increase. The sales are out of this world an unimaginable 323 % increase over January.

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

As we look at month over month we have seen life come into the Real Estate market. Now let us review and see what the true numbers are vs. the perception.

January February March April May June

Active: 51 55 60 58 50 42

Pending: 3 10 7 8 12 17

Accepting Backup: 2 4 5 7 13 11

Sold: 3 3 4 7 12 12

As I look at these numbers, I find it very interesting that the active inventory has dropped almost 20 percent from January to June. The Pending as well as the Accepting Back Up Offers, which are an indication how the buyers are responding shows a phenomenal increase of almost 500%. Equally reassuring is the actual closed transactions. This number is what actually closed. This is a phenomenal increase of 400% over June over January.

As you see, this is not weird spike in the Real Estate Market, rather a steady increase of Activity. The buyers are recognizing a good value and they are taking advantage of the price decrease.

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

Well here we are and it is the 5^th of July, 2009, I have been busy showing homes, condominiums as well as even land.

It is the half way mark for the calendar year, so let us review the numbers and analyze the statistics.

January February March April May June

Active: 180 185 191 199 184 197

Pending: 10 13 19 20 21 30

Accepting Backup: 11 15 11 17 23 20

Sold: 12 7 16 10 18 18

As you can see that the Active inventory has increased from 180 in January to 197 in June this is approximately a 9 % increase year to date. Hence the buyers have a larger inventory pool to choose from.

The Pending properties have increased as well from 10 pending to 30 pending that is quite phenomenal a 300 per cent increase from January to June. That is a clear indication the buyers are out and they are making offers on the properties that they perceive as a good value.

Not only have the Pending increased, the properties that are currently in Escrow, but the buyers have not removed their contingencies are up as well. In January we had 11 Accepting Backup Offers and now in June we had 20 that are about an 80 % increase.

Sold properties were in January 12 and now in June we had 18 this is a 50% increase. As we look at these numbers it is clear that this is not just a fluke, rather it has been a steady increase month over month with minor deviations. Some generated by Lender delays with appraisals, tightening of credit lending requirements and delays in the handling of the loans. Overall I see a very positive direction in the Marina Del Rey Condominium Market.

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

The Farmer's Market in Los Angeles, has been evolving, changing and reinventig itself over the past seventy five years (75). Millions of people, who have visited this favorite tourist destination consisted of the the famous, the infamous as well as the ordinary people who have come and gone, they all have left with many fond memories. In the past 17 years one of the most favorite destination places has been "Light My Fire". 6333 W 3^rd St Ste 212, Los Angeles, CA 90036. (323)930-2484

This small cubicle of a place holds at least a thousand if not more, different hot sauces from all around the globe. Some have been named after Celebrities, Politicians or just different Titles which conjure up various levels of heat in the potential buyer.

There are connoisseurs of ‘heat' who come here to buy a hot sauce, which they are unable to buy anywhere else. Then you get the novelty collectors that just want to have a specific bottle not for consumption, rather just for display in their kitchens. Then there are the friends and family who want to buy a novelty present for their loved ones.

Even the ones who wonder in accidentally can not help themselves and buy on impulse.

Young Min and her husband opened this little Stall in 1998 in the Farmers Market. As I mentioned, the selections are phenomenal. The hot sauce bottles are stacked floor to ceiling. There is a bottle for every one, as well as every one's budget. The cost conscious can buy a hot sauce for $0.99 as well as the affluent to which money is more abundant there are bottles of hot sauce all the way to $500.00.

Make sure to put this worth while destination on your things to do list for your next trip to the Grove and specifically the Farmer's Market.

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