Mary Thomas PV,RB,MB,Torrance,Pas, Arc,SM REALTOR®*

Here is the latest statistics from the California Associaton of Realtors as of June 25, 2009. I am happy to say that I am one of the statistics closing a wonderful sale of a great deal for my buyer in Palos Verdes Estates this June for 1.1 Million...Yes, we are still selling and my clients are wondeful, sophisticated buyers that appreciate my years of experience to guide them to the home of their dreams..

I noticed the averages prices are quite accurate for Palos Verdes, South Bay and My Arcadia areas.

"Quick Facts:(taken from the CAR Website)"

· Existing, single-family home sales increased 35.2 percent in May to a seasonally adjusted rate of
556,590 on an annualized basis.

· The statewide median price of an existing single-family home increased 4.2 percent in May to
$267,570, compared with April 2009.

· C.A.R.'s Unsold Inventory Index fell to 4.2 months in May, compared with 8.7 months in May 2008.

LOS ANGELES (June 25) - Home sales increased 35.2 percent in May in California compared with the same period a year ago, while the median price of an existing home declined 30.4 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

"With affordability for first-time buyers at a record high, sales of existing, single-family homes continued to remain above the 500,000 level for the ninth consecutive month," said C.A.R. President James Liptak. "Buyers are beginning to realize that the combination of favorable home prices, historically low mortgage rates, and first-time home buyer tax credits, may not align again for many years.

"The sales gains over last year have diminished in recent months," he added. "This trend is expected to continue through the end of the year, as limited inventory at the moderate and low end of the market constrains sales activity," he said.

Closed escrow sales of existing, single-family detached homes in California totaled 556,590 in May at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 35.2 percent from the revised 411,770 sales pace recorded in May 2008. Sales in May 2009 increased 2.9 percent compared with the previous month.

The statewide sales figure represents what the total number of homes sold during 2009 would be if sales maintained the May pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The median price of an existing, single-family detached home in California during May 2009 was $267,570, a 30.4 percent decrease from the revised $384,540 median for May 2008, C.A.R. reported. The May 2009 median price rose 4.2 percent compared with April's $256,700 median price.

"The statewide median price rose for the third consecutive month in May, posting the largest monthly increase on record for the month of May, according to statistics dating back to 1979," said C.A.R. Chief Economist Leslie Appleton-Young. "Nearly all regions in the state reported positive month-to-month changes in median price.

"Inventory levels are well below the long-run average of seven months, which may account for the increase in median price," added Appleton-Young. "Although the state continues to operate in a bifurcated market, improved access to lending and price adjustments have led to increased activity in the high-end segment," she added.

Highlights of C.A.R.'s resale housing figures for May 2009:

. C.A.R.'s Unsold Inventory Index for existing, single-family detached homes in May 2009 was 4.2 months, compared with 8.7 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

. Thirty-year fixed-mortgage interest rates averaged 4.86 percent during May 2009, compared with 6.04 percent in May 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.75 percent in May 2009, compared with 5.24 percent in May 2008.

. The median number of days it took to sell a single-family home was 53.5 days in May 2009, compared with 49.2 days (revised) for the same period a year ago.

Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.

In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, nine of the 353 cities and communities reporting showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)

Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices for April may be exaggerated due to compositional changes in housing demand. The DataQuick tables listing median home prices in California cities and counties are accessible through C.A.R. Online at
http://www.car.org/economics/historicalprices/2009medianprices/may2009medianprices

. Statewide, the 10 cities with the highest median home prices in California during May 2009 were: Los Altos, $1,484,000; Palo Alto, $1,400,000; Cupertino, $965,000; Santa Barbara, $870,750; Danville, $785,500; Los Gatos, $769,500; Newport Beach, $767,500; Santa Monica, $740,000; Arcadia, $700,000; and Campbell, $691,000."

Real Estate for the Soul's Featured Property of the Week:

http://activerain.com/blogsview/388938/32646-Coast-Site-Rancho Rancho Palos Verdes

Best Ocean view Condo

http://activerain.com/blogsview/306368/4134-Pacific-Coast-Hwy Torrance Newer Home

Best Newer Construction

http://activerain.com/blogs/palosverdesrealtor4god/tags/homes%20historical Pasadena Victorian Updated and Prestigious

Real Estate Articles:

http://activerain.com/blogsview/503521/Still-Have-an-Adjustable

http://activerain.com/blogsview/503468/Is-this-the-Final (interest Rate cut)

http://activerain.com/blogsview/452990/Los-Angeles-County-Grea FHA

http://activerain.com/blogsview/462789/Renting-Versus-Buying-In

http://activerain.com/blogsview/389098/Tax-Savings-on-Moving

http://activerain.com/blogsview/487163/Interst-Rates-up-Dont Save money on interest buy now

http://activerain.com/blogsview/452990/Los-Angeles-County-Grea FHA

http://activerain.com/blogsview/377623/New-California-Real-Estate appraiser

http://activerain.com/blogsview/403208/Palos-Verdes-Home-Owners

Family Info & events
http://activerain.com/blogsview/500245/-Top-4-Best Brunches in the Pv & South Bay

http://activerain.com/blogsview/142901/Searching-for-Best-Schools

http://activerain.com/blogsview/233943/Internet-Safety-for-Children

Senior Care & Events

Seniors

http://activerain.com/blogsview/467528/Reverse-Mortgage-is-it

http://activerain.com/blogsview/472230/Keep-Safe-Coalition-Protecting

More articles: Senior-Long-Term-Care

http://activerain.com/blogsview/471828/Senior-Long-Term-Care

Please pass on this important match funds cause for the American Center for Law and Justice. Jay Seccular needs this money to keep up the fight for the right to life cases that he fights for us against the amor Federal Law Suits on the right to life issue. This is a great opportunity to have Jay's funds matched and help out a worth cause...Blessings in Christ and Pass this on!!!

THURSDAY, JULY 09, 2009

Dear Mary, Your instinct for life, your commitment to the unborn, our work for the protection of innocent babies: it's all on the line today. The President has said one of his first priorities is to sign the Freedom of Choice Act into law. This would overturn every piece of legislation ever passed that protects the lives of the unborn. We can't let it happen - so we at the ACLJ are redoubling our legal and legislative efforts in support of the sanctity of life. Failure is not an option here. It would mean death for millions of babies. Right now, you have the opportunity to protect unborn children with maximum impact. By God's grace, every contribution you make will be matched, dollar-for-dollar, through a $450,000 STAND FOR LIFE Matching Challenge. Let me strongly urge you to give as generously as you can toward this Matching Challenge, and let your contribution be doubled. We MUST fight this battle to preserve the sanctity of human life, because if we don't, that sanctity will most certainly be defiled by this Congress and Administration. Please give generously toward our STAND FOR LIFE Matching Challenge so the impact of your gift can be doubled. On behalf of the unborn, I thank you.

Yes the Palos Verdes Peninsula, only 40 minutes from downtown Los Angeles is showing only a 12.2% drop in the last 15 mos of this national housing crisis...Not to mention the real estate is holding steady, Palos Verdes also has the Number one Schools in the State of California.

Now the only question is for those waiting to buy is not when will the property prices drop lower but how fast can I buy so that I can avoid the interest rates rising...Rates are the only enemy against your pocketbook savings in this market so don't procrsatinate too long.

Starter homes are showing a much larger drop and need a lot of fixing..the best buys are the condominiums and townhouses that have a much larger drop on the peninsula..

Real Estate for the Soul's Featured Property of the Week:

http://activerain.com/blogsview/388938/32646-Coast-Site-Rancho Rancho Palos Verdes

Best Ocean view Condo

http://activerain.com/blogsview/306368/4134-Pacific-Coast-Hwy Torrance Newer Home

Best Newer Construction

http://activerain.com/blogs/palosverdesrealtor4god/tags/homes%20historical Pasadena Victorian Updated and Prestigious

Real Estate Articles:

http://activerain.com/blogsview/503521/Still-Have-an-Adjustable

http://activerain.com/blogsview/503468/Is-this-the-Final (interest Rate cut)

http://activerain.com/blogsview/452990/Los-Angeles-County-Grea FHA

http://activerain.com/blogsview/462789/Renting-Versus-Buying-In

http://activerain.com/blogsview/389098/Tax-Savings-on-Moving

http://activerain.com/blogsview/487163/Interst-Rates-up-Dont Save money on interest buy now

http://activerain.com/blogsview/452990/Los-Angeles-County-Grea FHA

http://activerain.com/blogsview/377623/New-California-Real-Estate appraiser

http://activerain.com/blogsview/403208/Palos-Verdes-Home-Owners

Family Info & events
http://activerain.com/blogsview/500245/-Top-4-Best Brunches in the Pv & South Bay

http://activerain.com/blogsview/142901/Searching-for-Best-Schools

http://activerain.com/blogsview/233943/Internet-Safety-for-Children

Senior Care & Events

Seniors

http://activerain.com/blogsview/467528/Reverse-Mortgage-is-it

http://activerain.com/blogsview/472230/Keep-Safe-Coalition-Protecting

More articles: Senior-Long-Term-Care

http://activerain.com/blogsview/471828/Senior-Long-Term-Care

	1 year	15 months
	May 08	May 09	% Change	Mar 08	May 09	% Change
Avg. Sq. Ft. Price	560	492	-12.2%	548	492	-10.2%

Here it is the drop in the Palos Verdes real estate for the last 15 months...Only 12.2% in the Palos Verdes Peninsula..This is taking into consideration the Peninsula as a whole. Condominiums and Townhouses are not includes only single family homes.

The big question is not when to buy as far as home prices go but how fast can I buy before the interest rates go up! This is where the big savings can be seen in your pocket book..We are expecting the interest rates to go up so stop procrastinating and jump into that new home asap!!!

Real Estate for the Soul's Featured Property of the Week:

http://activerain.com/blogsview/388938/32646-Coast-Site-Rancho Rancho Palos Verdes

Best Ocean view Condo

http://activerain.com/blogsview/306368/4134-Pacific-Coast-Hwy Torrance Newer Home

Best Newer Construction

http://activerain.com/blogs/palosverdesrealtor4god/tags/homes%20historical Pasadena Victorian Updated and Prestigious

Real Estate Articles:

http://activerain.com/blogsview/503521/Still-Have-an-Adjustable

http://activerain.com/blogsview/503468/Is-this-the-Final (interest Rate cut)

http://activerain.com/blogsview/452990/Los-Angeles-County-Grea FHA

http://activerain.com/blogsview/462789/Renting-Versus-Buying-In

http://activerain.com/blogsview/389098/Tax-Savings-on-Moving

http://activerain.com/blogsview/487163/Interst-Rates-up-Dont Save money on interest buy now

http://activerain.com/blogsview/452990/Los-Angeles-County-Grea FHA

http://activerain.com/blogsview/377623/New-California-Real-Estate appraiser

http://activerain.com/blogsview/403208/Palos-Verdes-Home-Owners

Family Info & events
http://activerain.com/blogsview/500245/-Top-4-Best Brunches in the Pv & South Bay

http://activerain.com/blogsview/142901/Searching-for-Best-Schools

http://activerain.com/blogsview/233943/Internet-Safety-for-Children

Senior Care & Events

Seniors

http://activerain.com/blogsview/467528/Reverse-Mortgage-is-it

http://activerain.com/blogsview/472230/Keep-Safe-Coalition-Protecting

More articles: Senior-Long-Term-Care

http://activerain.com/blogsview/471828/Senior-Long-Term-Care

Real Estate Tips of the Week

If you are looking to buy a home in the south bay in 2009 there are several things you should know.

1. Lenders are changing the requirements constantly.

2. Pitfalls with FHA-You can go FHA with a small down payment 3-5% as of today that could change tomorrow.So if you have a small down payment or are going FHA it will weaken your chances of being accepted in multiple offers.Many 20-50% down buyers are now bidding against you. Which can be discouraging but it is a fact that first time buyers need to know so they won't be disappointed when in multiple offers.

3.Best Homes to buy in this market-Trust or Probate Homes are the best homes. Most homes that are priced well and are in good condition and location will have multiple offers on them even in this market. I sold one probate that was below market and great condition, Trust even put on a new roof and it was not leaking but the catch-We had 13 offers against us and only 4 were picked for the counter offer. All 4 had at least 30% down and my client was picked with 40% down over a higher offer of $20,000.00 more because we had better terms.
So in this market , price is not always the object if handled by Courts and money is going to a charity etc...

4. Short Sales are not short. Lenders are not motivated for making quick decisions. If you are the first offer on a short sale that has not been sent to the bank for bank approval plan on waiting at least 2 months. Which normally causing the buyer to get cold feet and they no longer want the property by the time the bank gets back to them.Just like my bank teller asked today- "Have you ever really seen a short sale that was short"

This short sale joke could be the new line of the short sales in 2009.

5. If you are the 2nd offer on a short sale the bank will normally get back to you within a week and you have a good chance of making it work.

Stay tuned for next week when I will have 5 more real estate tips for this market...including lenders that are still making loans to self employed business owners,and lenders that are still qualifying with stated income..and what they need you to do to qualify....