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MALIBU
CULVER CITY |
Pending Home Sales Rise....AGAIN! There were increases across the Country with a strong gain in the South, a moderate increase in the West, and modest advances in both the Northeast and Midwest.
In conclusion: Pending home sales increased in June for the fifth consecutive month, which suggests that a bottom has been reached in existing home sales and a modest recovery is underway.
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FREE First Time Home Buyers Seminar
Sponsored by: BHGLAAR Equal Opportunity/Cultural Diversity Committee and the Edendale Public Library
Date: Saturday, May 16, 2009 10:00am - 11:30am
Location: Edendale Public Library, 2011 W. Sunset Blvd, LA, CA 90026
If you attend you will be able to learn the fundamentals of home ownership in easy-to-understand terms from experts in the real estate industry.
This seminar is FREE and open to the public. Seating is limited please RSVP by Tuesday, May 12th. REGISTER ONLINE or call 310.967.8800.
On Tuesday, Federal Reserve Chairman Ben Bernanke said the economy appeared to be stabilizing, but warned that a real recovery is still months away.
"We continue to expect economic activity to bottom out, then to turn up later this year," Bernanke told the congressional Joint Economic Committee, according to a prepared statement.
Bernanke cited improved sales of existing homes as evidence that things are improving. He said sales have been "fairly stable" since late last year, in part because moderating prices have made homes more affordable.
Credit markets have stabilized in recent weeks allowing more homeowners to refinance their mortgage and stay in their home. This is a postive sign for future stabilization in the housing market.
If you or anyone you know needs assistance with buying a home, selling a home, refinancing, leasing, property management, loan modification or just general real estate questions, please give Josh or Dom a call at 310-459-8191, or drop us an email at info@wsprops.com.
About Westside Properties -
Westside Properties is a full-service real estate boutique offering buyer and seller representation, leasing, financing, property management, home repair and improvement, and loan modification. The agents support one another like a team and each have extensive real estate experience, powerful resources and the connections that you need whether you are looking to buy or sell a home in today's exciting and challenging real estate market.
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
For January 2009
Existing Home Sales: fell by 5.3% to 4.49 million. It has declined by 8.6% over the past year.
Single-Family Existing Home Sales: declined by 4.7% to 4.05 million. It dropped 7.1% over the past year.
Condo/co-op Sales: tumbled by 10.2% to 440k. It dropped 20.3% over the past year.
Inventory of Homes Available for Sale: declined by 2.7%.
Average Home Price: fell 13.3%
Median Home Price: declined by 14.8%
If you need real estate advice, feel free to contact me or visit www.westsidehomefinder.com. If you are interested in seeing if now could be a good time to refinanance your home, or get pre-qualified for a loan to purchase a property, don't hesitate to contact me or visit www.realpromortgage.com.
Source: National Association of Realtors
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I am a 3rd generation real estate Broker specializing in Pacific Palisades, Malibu, Santa Monica, Marina del Rey, Beverly Hills, Hollywood, Westwood and Brentwood and all Westside Properties.
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