“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Mark Gonzales

Mark Gonzales

Blog_tag

JANUARY HOME SALES JUMP 21%

03-05-09
Mark Gonzales

As property prices are reaching lows unseen since 2003, prospective buyers who were waiting on the sidelines are now jumping into the market. The January single-family home median price was $350,000, a 24.7% drop from a year ago, while the condo median price was $190,000, a 48.4% drop.

Sales of existing single-family homes increased 21% in January 2009 compared to January 2008 in the San Fernando Valley, representing a total of 518 homes. In the meantime, condos increased 58.1% with a total of 166 condos sold.

However, as the demand for real estate is increasing, the supply of active listings is limited, and the number of properties receiving multiple offers is soaring, which may soon impact prices.

For the full article, please visit the SRAR at:

http://www.srar.com/members/rronline/3-2-SFVsales.php

0 Comments
Blog_tag

FREE MONEY FOR 1ST TIME HOME BUYERS!!

02-17-09
Mark Gonzales

If you purchase a home before September 1, 2009 and you are a first time home-buyer (someone who has not purchased a home within the last 3 years, see http://www.hud.gov/offices/hsg/sfh/ref/sfhp3-02.cfm for exact details) you will be eligible to receive a tax credit for $7,500 which does not have to be repayed. The previous stimulus bill had the tax credit listed as a repayable interest free loan for 15 years. However, there are income limits that disqualify 1st time homebuyers to receive the credit for those single home purchasers who make more than $95,000 in adjusted gross income and $170,000 for married couples who file jointly.

For more information check:
http://www.seevalleylistings.com/article.aspx?xml=http://realtytimes.com/rtnews/xml/20090216_washingtonreport.xml

0 Comments
Blog_tag

Recent Sales Data Points Out That The Real Estate Market May Be At the Bottom

02-05-09
Mark Gonzales

Here are several articles explaining the 2008 sales data, how we may be at the bottom the market's down cycle and why prices may increase soon. As I've said in many of my earlier blogs, multiple offers are being received on almost every listed property priced below $500k with some listing agents seeing 10 or more offers. Buying activity from my clients has surged. Homes for sale (especially foreclosures priced under market value) are selling above list price. Many buyers are taking advantage of extremely low interest rates and pricing which have made owning a home even more affordable. These factors coupled with the after tax benefits of being able to deduct mortgage interest and property tax, monthly payments on a home are close to and in many cases equivalent to renting a home.

Click the following links to view articles supporting the opinion that we may be at the bottom:

LA Ranks #7 on Forbes List on World's Best Places For Real Estate Buys

http://www.forbes.com/2009/01/21/investment-obama-realestate-forbeslife-cx_mw_0121realestate.html

Southland Home Sales off Bottom

http://www.dqnews.com/News/California/Southern-CA/RRSCA090119.aspx

San Fernando Valley Home Sales Increase 13% in 2008

http://www.srar.com/members/rronline/2-2-SFVsales.php

Affordability More Than Doubles

http://www.srar.com/members/rronline/1-19-Affordability.php

What do you think? Do you think the market is hitting the bottom soon? I'd love to hear your feedback

0 Comments