Friday, December 12, 2008
A couple of weeks ago the U.S. Government announced we have officially been in a recession since December 2007. We are sure that does not seem like a surprise to many people. And while the headlines continue to reflect poor economic news on many fronts our local Westside real estate markets are weathering the storm [...]
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Tuesday, September 30, 2008
It was just a little over a year ago that the mortgage crisis began to unfold in full force. As we take a look back we can clearly document the impact this financial upheaval has had on our local West Los Angeles real estate markets. It is certainly not hard to see the black clouds [...]
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Friday, August 29, 2008
August 25, 2008 02:00 PM Eastern Daylight Time
LOS ANGELES–(BUSINESS WIRE)–Home sales increased 43.4 percent in July in California compared with the same period a year ago, while the median price of an existing home fell 40.3 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“Sales improved significantly in July 2008 and remained above the 400,000 [...]
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Friday, August 8, 2008
In his commentary, Dennis Kneale of CNBC crunches the numbers. CNBC has posted a very interesting video (it’s only two and a half minutes) in which Dennis trys to put the housing statistics in some perspective. He makes his points well. If you’re getting foreclosed on it won’t make you feel better. But, if you’re [...]
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Wednesday, August 6, 2008
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®
This week, President Bush signed into law the Housing and Economic Recovery Act of 2008. This sweeping legislation primarily seeks to protect homeowners from foreclosure, stop declining home prices, and stabilize the mortgage industry. Major provisions of the new law affecting the real estate practice are as [...]
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Friday, July 25, 2008
This is our first Condominium report for the Micro Markets we track on the Westside of Los Angeles. Condominiums are a Micro Market in and of themselves and are behaving differently from the single family residence market. Of the Micro Markets we track, several have a very limited condominium market while other areas like Santa [...]
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Monday, July 21, 2008
Of the 257 closings this month, 46% sold within the first 30 days of being on the market. There is no disputing the evidence that good homes at a good price are still selling very quickly.
The following micro markets were up in sales activity June 08 vs. June 07: Beverly Hills, Westwood - Century City, [...]
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Thursday, June 19, 2008
Watching, reading, and listening to news reports of falling prices, building inventories, and an overall sense of doom and gloom in the real estate market contrasts with our current experience in the Micro Markets we track. If you study the numbers closely you will see that little has changed in the year over year numbers [...]
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Wednesday, May 21, 2008
The market is still looking to find its footing and gain traction. Consistent with the previous months of this year the Micro Markets that we are following are all experiencing different types of activity.
April’s closed sales volume is the aftermath of the slow flow of new transactions from February and March. Escrows are averaging 30 [...]
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Tuesday, May 20, 2008
Today, Monday May 20th, the Wall Street Journal published an article that remarkably mirrors Teles Properties’ “Micro Market” conversation. We have noted repeatedly that neighborhoods do not perform in unison, and not necessarily alike. Today’s article highlights that opinion. There are many local markets that have been hit hard by the credit crises, and there [...]
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Newer 2-story Romantic Hampton's Classic home with 5 bedrooms, 4.5 baths and 4 fireplaces. This home features hardwood floors, large bright rooms and a gourmet kitchen. The kitchen family room overlooks a loggia that has a large seating area and fireplace and faces a private landscaped yard. There is an outdoor entertaining area with BBQ and refrigerator, as well as an entertainment area outside...
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Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. Information is deemed reliable but not guaranteed.