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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Monday, May 12, 2008
Some economists are starting to talk about an end to the housing crises. The article below by Cyril Moulle-Berteaux was printed in today’s Wall Street Journal. She makes a lucid argument that while the pain is not yet over - the beginning of the end is at hand. We would be interested [...]
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Tuesday, May 6, 2008
At his recent annual meeting of Berkshire Hathaway stockholders, Warren Buffet expressed considerable optimism that the worst of the credit crunch is behind us and that there are good opportunities in the bond and equity markets. While Buffett criticized the regulators for creating the climate for the subprime mortgage mess, he also credited the Federal [...]
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Tuesday, April 22, 2008
The slow down in open escrows earlier this year finally revealed itself in fewer closing for March year over year. While it’s too early to predict with any certianty, late January and early February may prove to be the low point of this current cycle. Sales volume was down in 13 of 17 markets we [...]
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