Keith Sorem

Real Estate Market Report

La Canada Flintridge, CA March, 2009

Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.

The Market Index increased to 0.19 from last month and last year of 0.12.

New Listings - 42, up from 35 last month. Last year we had 33.

Pending Listings - 12 listings opened escrow, compared to 6 last month. Last year 4 properties entered escrow.

Pending Ratio - Increased to 0.29, up from 0.17 last month. A year ago it was 0.12.

Listing Inventory - 135 properties, up from 114 homes last month and 109 last year.

Sold Listings - 14 homes sold, up from 8 last month. Last year 9 homes sold.

Days On Market- 129, way up from 53 days last month and 80 days last year.

Average Sales Price - $1,926,000 up from last months $1,551,063- and up $880, 00 from last year. The challenge with a small number of sales is that it only takes a few homes to make a difference and may not be indicative of the whole market.

Price per square foot - $525.89, up from last month's $506.39, which is UP 8.6% from last year.

If you are thinking of buying in La Canada Flintridge there is more inventory on the market than last year. Financing is the key to home purchases, and right now there is very limited financing for loans over the $719,000 limit. This will make it harder for buyers, and may result in a softening in pricing. This is a great time to upgrade to a larger home.

Data is from the Itech MLS and has not been verified, is not guaranteed, and is subject to change

Real Estate Market Report

West San Gabriel Valley March, 2009

Pasadena, Altadena, South Pasadena, and San Marino

Market Index

A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.

The Market Index increased from 0.20 to 0.29, mirroring the shift in December. Last year the index was 0.17.

New Listings - 204 new listings, even with last month's 199. Last year there were 319.

Pending Listings - 116 listings opened escrow, compared to 88 last month, versus 67 last year.

Pending Ratio - 0.55, up from 0.43 last month, up from last year's 0.21

pending ratio.

Listing Inventory - 783 listings on the market, down slightly from 797 last month. Last year we had 989.

Sold Listings -111 properties sold, up from 93 last month. Last year 91 homes sold.

Average Sales Price - $595,724, down slightly from $558,620 last month, down 21.3% compared to last year.

Days On Market - 117, compared to 120 last month and 59 last year.

Price Per Square Foot - $359.52, up slightly from $353.78 last month, down 18.7% from a year ago.

Sales are strong due to the lower prices and interest rates. The new stimulus package allows for a more generous tax credit of $8,000 which does not need to be repaid if you live in the property three years, $10,000 additional if you buy new construction.

Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change.

Northeast Los Angeles March, 2009

Atwater Village, Eagle Rock, Glassell Park, Highland Park, and Mount Washington

Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.

The Market Index bounced back up to 0.34, up seven points, equaling the highest rate in the last twelve months.

New Listings - 16 properties hit the market, down from 44 last month and 84 last year.

Pending Listings - 39 listings opened escrow, up from 37 last month versus 19 in March of 2008.

Pending Ratio - 0.55, down from 0.84 last month, versus 0.23 last year.

Listing Inventory -219 listings on the market, down from 241 last month, last year was 298.

Units Sold -36 properties sold, up from last month's 27. Last year 21 homes sold.

Days On Market - 93 versus 80 last year.

Average Sale Price -$359,372, down from last month's $431,712, down from last year 24.8%.

Price Per Square Foot - $269.60, down from last month's $274.28, and down 31.4% from last year.

Summary - New listings are declining, along with a strong Pending Ratio, and although more homes sold this year than last year, for the second month in a row we are seeing an uptick in listing inventory.

Get your $8,000 federal tax credit by purchasing a home in 2009. Call me for a no-obligation to evaluate your situation.

Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change.

Real Estate Market Report

East San Fernando Valley, CA March, 2009

North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.

Market Index

A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.

The market index edged up TWELVE POINTS from 0.35 to 0.47, the fifth monthly increase in a row.

New Listings - 174 new homes came on the market, compared to 184 listings last month, versus 353 last year.

Pending Listings - 180 opened escrow, versus 156 last month, compared to 124 last year.

Pending Ratio -1.03, up .19 points from 0.82, up from last year's 0.35.

Listing Inventory - 694 properties are on the market, down from 761 properties last month, compared to 1,360 last year.

Sold Listings -149 homes sold, versus 112 last month, compared to 84 last year.

Days On Market - 79 to wait for an accepted offer, equal to last year.

Average sale price - $311,343, down from last month's $322,207, down $115,756 or 27.1% from last year... the lowest price in years.

Price per square foot - $179.35, down slightly

from last month's $234.53, down 41.5% from last year.

Market activity is still climbing due to the continued decline in prices. Buyers are taking advantage of the $8,000 federal tax credit by buying now when interest rates are at historically low levels.

Data is from SRAR and has not been verified, is not guaranteed, and subject to change

Real Estate Market Report

Glendale, CA March , 2009

Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.

With the economic turmoil in the news, amazingly the Market Index jumped TWELVE POINTS from 0.26, to 0.38 last month, versus to 0.16 last year.

New Listings -87 new listings this month, compared to 82 last month, versus 153 a year ago.

New Pending Listings - 63 listings entered escrow, compared to 35 last three month, and 35 in 2008.

Pending Ratio - 0.72, compared to last month 0.43, and a year ago it was 0.23.

Listing Inventory - 306 listings, down slightly from 312 homes last month. In 2008 we had 454 listings.

Sold Listings - 54 homes sold, compared to 46 last month and 39 last year.

Average Sale Price - $548,426, up from last month's $484,808, down 10.1% from last year.

Price Per Square Foot - $310.90, up slightly from $308.58 last month, and down only 8.4% compared to last year.

Conclusions

Sales continue to outpace last year due to the lower prices and interest rates. The new stimulus package allows for a more generous tax credit of $8,000 which does not need to be repaid if you live in the property three years. Inventory is steady, so it appears that the overall economy is causing the continued decline in home values. More large homes are selling, so how much of the stabilization of values is due to the sales mix is open for discussion.

Take advantage of the market and buy a great investment now.

Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change