Johnny Burke

The Southern California Home Buyer's Fair is offering a free, two-day primer on the home-buying process . This 2 day event will be held on March 13th & 14 at The Los Angeles Convention Center, located at 1201 S. Figeroa St., Los Angeles, Ca 90015. There will be more than 50 educational "how-to" seminars and a large exhibit hall, designed to help you navigate today's real estate market with confidence and peace of mind.

For more info, visit http://www.homebuyersfair.com

BETHEL, Conn.-(BUSINESS WIRE)-Countdown To Buy, a next generation online real estate marketplace that offers a fair and effective way to buy and sell properties, announced today the launch of its automated real estate matching platform. The Countdown To Buy platform is equally capable of supporting foreclosures, short sales and traditional property transactions.

In conjunction with the launch, the Company has entered into an agreement with a leading nationwide servicer of residential mortgages for its initial pilot program and will be offering a sampling of properties located in Connecticut, New Jersey and New York starting on December 8, 2009, with the potential for additional locations to be added. The Company is currently in negotiations with other leading banks and servicers for additional programs throughout the United States.

Founded in 2008, Countdown To Buy uses a patent pending technology that automatically matches buyers and sellers in a real estate transaction through a time-limited process that reduces the property's list price 1% per day. Confidentially submitted offers are systematically compared to the daily price and when an offer matches or exceeds that price, the offer is automatically accepted and the contract process is initiated. Through the Company's website, www.countdowntobuy.com, property listings can be researched, showings can be arranged, and offers can be submitted.

For a video simulation of how the Countdown To Buy process works, please click on the following How It Works.

"We set out to create an environment of trust between buyers, sellers, and third parties," commented Jim Hodson, Chief Executive Officer and Founder of Countdown To Buy. "Now more than ever home buyers need 100% transparency and unbiased information throughout the entire home purchase process. Countdown To Buy's online real estate platform eliminates negotiation and mitigates uncertainty surrounding the foreclosure market, -essentially unlocking foreclosure purchase opportunities for home buyers."

Through Countdown To Buy's unique process, home buyers can obtain unprecedented access to information on a property and then place offers 24/7. Banks and servicers benefit from a process which accelerates the sales cycle, maximizes returns and mitigates risks.

"Banks and servicers are currently holding considerable volumes of non-performing assets and it is expected to increase in the months to come," said Dan Connell, President of Countdown To Buy. "From list to close, we have improved the home buying experience and we believe Countdown To Buy will significantly accelerate the sale of a property while ensuring buyers are getting the best possible value on the home of their choice."

Countdown To Buy is an online real estate marketplace that automatically matches motivated sellers and qualified buyers in an environment of trust, transparency, and efficiency. The Company has a patent pending business process that reduces a property's list price 1% each day within a pre-negotiated price range. The technology and marketing platform was built specifically to expedite the sales cycle in real estate transactions through a time-limited, objective, and confidential offer system. The Company services demand from banks, servicers, home buyers and investors through a streamlined technology process and unbiased transaction support. For more information on Countdown To Buy, please visit www.countdowntobuy.

There were 16 sales in November in the Beverly Center-Miracle Mile Single Family Market at an average of $489/sq. ft., up from the YTD $471/sq.ft. and 18% below the 2006 market peak. There were 6 expired and 7 withdrawn listings in this area during this period. With 68 active listings, and an average of 12 sales per month YTD, this indicates an inventory of 5.6 months supply, virtually unchanged from last month. There are also 100 REO (bank-owned) properties in the area at the moment which gives us 5.6 months of unlisted inventory- well above the average of a 1-2 month "pipeline".

In the Beverly Center-Miracle Mile condo market there were 10 sales in November at an average of $462/sq. ft. , up from the YTD $444/sq.ft., and 17% below the 2006 market peak. With 60 active listings, and an average of 6.8 sales per month YTD, this puts the condo inventory at 8.8 months supply, up from 5.6 months in October. With 34 REOs, there is 5 months of unlisted inventory, about the same as last month.

In the Hancock Park-Wilshire Single Family Market, there were 14 sales in November at an average of $406/sq. ft., down from $449/sq.ft. YTD and 26%% below the 2006 market peak. There were 10 expired and 8 withdrawn listings in the area during this period. With 65 active listings, and an average of 14.4 sales per month YTD, that leaves us with an inventory of 4.5 months supply, down from 5.6 months in October. There are 33 REOs currently, which gives us 2.4 months of unlisted SFR inventory- which is close to a "normal" level for an REO pipeline.

In the Hancock Park-Wilshire Condo Market, there were 17 sales in November, up considerably from 4 sales last month, at an average of $331/sq.ft., up slightly from $325/sq.ft. YTD and is 26% below the 2006 market peak. With 100 active listings and an average of 13.2 sales per month YTD, that gives us an inventory of 7.6 months supply, up from 5.6 months supply in October. At the moment there are 49 REOs which is equal to 3.7 months of unlisted inventory.

There were 8 sales in the West Hollywood Single Family Market in November, up slightly from 5 sales last month at an average of $635/sq.ft, up from the YTD average at $605/sq. ft. and down 17% from the market peak of 2007. There were 3 expired and 4 withdrawn listings in the area during this period. With 60 active listings, and an average of 5 sales per month YTD , current SFR inventory is at 12 months supply, down from 15 months in October. REO, or bank-owned property in West Hollywood is currently at 59 units, or an additional 11.8 months supply. As I have noted in previous market reports, a pipeline of 1-2 months supply of unlisted REO property is considered normal.

In the West Hollywood Condo Market, there were 31 sales in November, at an average of $475/sq. ft.- up from the YTD $444/sq.ft. and down 13% from the 2007 market peak of $544/sq.ft. There were 24 expired and 1o withdrawn listings during this period. There are 169 active condo listings , and an average of 25 sales per month YTD, current inventory is at 6.7 months supply, down considerably from 12 months in October. REO numbers for Weho condos are at 33 units, or about 1.3 months of unlisted inventory. While active listings are much lower in this area, the number of sales plus expired and withdrawn listings does not account for the shortfall in inventory, which leads me to think we are going to see lots more of REOs in this area in the future.

LOS ANGELES- People Assisting The Homeless (PATH) is pleased to announce a new partnership with Synergy Learning Center to form a property management training program provided through PATHFinders Job Center, a jobs program for people who are homeless or at risk of being homeless. This new endeavor will be called the Synergy Property Management Program.

Synergy Learning Center is known for its expertise in training for careers in the property management industry. PATH is known across the country for its innovative solutions to homelessness. By combining these strengths, both entities will provide a comprehensive property management training program that will encourage long-term career development and self-sufficiency.

"We see this partnership as a wonderful opportunity to transition people into property management careers and housing, especially during this struggling job market," said Janet Kelly, PATH's Executive Director.

The Synergy Property Management Program will introduce participants to property management as a career option and provide comprehensive training-including instruction in Yardi property management software, an industry leader for affordable and market-rate housing-and job placement services.

"My goal and desire in turning over Synergy Learning Center to PATH is to see it prosper and grow beyond what I could provide," said Dona Eng, founder of Synergy Learning Center. "I will chair an Advisory Committee to provide guidance, be an industry liaison and identify client employment opportunities and ongoing funding sources. I am thrilled with this new arrangement and confident that this will allow us to help more people who are in vulnerable circumstances."

Founded in 1984, PATH is a non-profit community organization that provides integrated services and supportive housing for people who are homeless or at risk of being homeless. Each year, PATH serves 14,000 homeless men, women and children from throughout Los Angeles County. PATH is a member of PATH Partners, an alliance of service and housing agencies. For more information, please visit its website at www.epath.org.

PATH Partners Press Contact: Cali Zimmerman
(323) 644-2273; caliz@epath.org

Synergy Learning Center: Dona Eng
(818) 981-0703; dona@yardi-support.com