Ralph Gorgoglione

We have homes in the lower price ranges having a huge amount of activity to the point of multiple offers right now, and a good percentage of them driving the price over asking.

A large pool of buyers and a shrinking inventory = supply and demand = increase in home values in the lower price ranges.

Homes in the 1.5 million range and above have fewer activity, and also much more difficulty obtaining loans in that price range.

A small pool of buyers and an abundant inventory = supply and demand = deccrease in home values in the upper price ranges.

What this is going to do is narrow the gap somewhat between the homes in the lowest and highest ranges.

If you're a seller in the lower price ranges, CHOOSE THE OFFER THAT WILL MOST ASSURADLY CLOSE!

If you're a seller in the upper price ranges, WORK LIKE CRAZY WITH ANY OFFERS THAT COME IN!

I just got back from playing a tennis tournament in Ventura, California at the Pierpont Racquet Club.

I love playing there because the temperature there is always about 20 degrees cooler than L.A. County because it is a beach city. The air is so crisp, clean and full of negative ions that you just want to live there.

We looked at some of the homes in the Ventura Keys, which is a really nice neighborhood, and were surprised to see that they averaged in the $600k range.

If you're looking for an affordable beach city that has definite charm, then you need to check out Ventura. Last night we spent some time at the harbor. It's a great night-life place with fantastic restaurants and shops. And the marina is just wonderful.

Here are a couple of websites that show what Ventura is all about:

www.ventura.com

www.cityofventura.net

We just closed escrow on this really nice townhome for our client. It is in Santa Monica, which is a very nice beach city with GREAT air quality.

It's a 2 bedroom townhome, and sold for $529,000.

There was a little drama with some personal property, but we took care of it. The seller decided to take a large bathroom mirror, which revealed some drywall patching that wasnt' very attractive.

But with the cooperation of the listing agent, we were able to locate where the mirror was sold and we ended up purchasing it and installing it ourselves as a closing gift for our client!

They were in the middle of pulling up the carpeting to install wood flooring, so it was a little un-tidy at the time of the video, but check it out:

Our client Stephane purchased a 1-bedroom condo in the ultra-cool and eclectic NoHo Arts District of North Hollywood, California.

It was a foreclosure and basically a complete mess, but what he and his designer Peggy Miller did with the place is amazing. We were able to get him an unbelievable price for this area.

They've basically done a make-over that has a loft-like ring to it, even though it's a single story first floor unit. He decided to go with a treated cement floor, so they basically ripped up the flooring and honed and treated the concrete. Very cool. He's also got some juicy colors going on now and a great use of colored mosaic tiles in the bathroom area. Check it out:

There are a few things to watch for with foreclosures.  My video addresses some of those issues.

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