Playa Vista Home Sales Real Estate Blog

Buying v. Renting – 1.27.2012

January 27, 2012 – 12:26 pm
For the last few weeks, I’ve written about the limited inventory for both distressed & standard sales, also consistent demand in both the Playa Vista resale and rental markets.  Since real estate manages in a micro market, what happens in one neighborhood may be vastly different from another just five miles away. However, even I doubted myself as I reviewed real estate articles from both local and nationally based newspapers this week. In the past week, The Los Angeles Times reported Home sales improve nationally in December and Initial foreclosure filings fall 11.9% in fourth quarter. These articles show consistent demand with limited supply for upcoming distressed properties.  Similarly, The Wall Street Journal has several articles with the same sentiment: Housing Inventory Ends Year Down 22%, Navigating a Tight Rental Market, and Mortgage Rates Rise on Stronger Housing Reports .  Again, pointing to overall improvements in the real estate market.  For now, ...

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January’s Top Pick – 1. 20. 2012

January 20, 2012 – 9:14 am
With only 26 active listings in Playa Vista condo resale market, the choices for buyers are quite limited.  Many sellers are choosing to hold off selling their homes, preferring to lease their homes out until the market recovers in a few years. The result is a divided market:  properties with distressed sellers vs. equity sales.  Currently, 30% of the inventory is short sales with these properties concentrated within the $500,000 or less price point. These listings are often sold in “as-is” condition and need TLC.  On the opposite end of the spectrum are some competitively priced standard listings.  At a glance, they may not look as favorable if you were to compare the price per square foot; however, these listings often inspire the sudden sigh and instant love at first sight simply because they are thoughtfully upgraded and well cared for.  Some have superb views and are in highly desirable locations. Here ...

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2012 Is Off To A Strong Start! – 1.13.2012

January 14, 2012 – 4:49 pm
2012 is off to a quick start.  The market jump started with lots of activities as buyers began looking for their dream home this New Year.  More buyers are getting ready to take advantage of these historically low interest rates. In 2011, an average 1.7 units sold per week.  Typically, the real estate market is most active from March to October.  However, since the beginning of 2012, six listings in the Playa Vista condo resale market are already pending in the first two weeks alone, averaging three listings per week.  The list prices range from $259,000 to $625,000.  Many of these listings were only on the market for a brief period of time. The one common denominator among these pending listings is that the majority of them are short sales.  Buyers are naturally attracted to these listings because of the attractive pricing.  Moreover, I have been seeing an increasing number of back ...

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2011 in Review – 1. 6. 2012

January 6, 2012 – 10:23 am
appy New Year!  This New Year should bring on some positive changes! Last year began with much speculation about a double-dip recession.  Although the economy is far from a full recovery since the real estate bubble burst in 2007, the possibility of a much longer slump seems less likely barring further deterioration of the euro-zone debt and other global financial crisis. In the 4th quarter of 2011, 100,000 new jobs were opened in California and the forecast points to continued historically low interest rates for a 30-year mortgage averaging 4.5% in 2012.  As prices become more attractive, more people are now qualified to buy homes.  This, coupled with strong demands from investors, means overall inventory is very limited.  In order for housing to rebound, more foreclosures and short sales will need to be absorbed back into the market before prices will turn around. Overall, the market should see an improvement by the ...

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