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Century City,CA., Condominium Market Activity Report for May 2009
Here we are the month of May just flown by for me. Even though there were thirty one days in the month I could have used a few extra. The activity has picked up not just for other Realtors, but for me as well. I have been fielding calls, showing properties, and writing offers and found my self in multiple offer situations more then five times this month. I am confident, based on my activities that the numbers will be better compared to the previous month. Now let us look at the actual Condominium Activities for the month of May in Century City, CA. As of 5/31/2009 there were 315 Condominiums on the Market within a broad range of prices. Least expensive Condominium for sale was listed at: •1. A Single for $275,000.00 (this reminds me of 2001 when the last time I remember a Condominium in Century City starting with a list price in the 2’s. •2. A One Bedroom for $349,000.00 ( again the year 2001 keeps coming back to me) The most expensive Condominium has a list price of $15,250,000.00 this property went up in stature only because the other three higher priced Condominiums are In Escrow already. •1. a Penthouse Unit listed at $27,000,000.00 is in Escrow •2. another Penthouse Unit listed at $24,500,000.00 is also in Escrow Hence the above mentioned takes the pole position, if you were wondering I have written about this Luxury Condominium Complex before.( http://activerain.com/blogsview/795366/do-you-think-the-real-estate-market-is-bad-look-at-the-century-in-century-city-ca– ) The complex is still unfinished and the prime units are quietly going into escrow, without much fanfare from the media, unlike the first one. Now let us look at the statistics for Accepting Back Up Offers and Pending: There are currently 38 Condominiums where the buyers have not removed their contingencies yet. There are 54 Condominiums where on the other hand the buyers have removed their contingencies. I am still yet to hear from the Media what I have been saying since November 2008. The activity has been increasing month over month as well as the Sales. So with that let me introduce to you the Sold Statistics for the months of May 2009 were: 27 Condominiums that Sold. I find these numbers quite impressive, especially where we were in the beginning of the year from an activity stand point and where we are now. Please visit my previous month’s statistics and see for yourself. I have been telling anyone who was willing to hear me out, next year(2010) you will be coming to me and will tell me ‘…yes you were right I should have bought in 2009 when it was at the bottom…’ by the way it is not too late. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at https://www.endrebarath.com ...
read moreGladstone’s from Malibu opened a satellite Restaurant in LAX
The other day I was at the Airport that is LAX in Los Angeles, waiting for one of my clients flying in to buy property in Malibu. The plane was late and I saw this Magazine called LAX. Interestingly there was an article about Gladstone’s of Malibu. They opened a Restaurant in LAX. My first reaction, WOW what a great idea, after all, most people have to be early at the Airport for Security Reasons and they have all this time to wait around. Second, most people are at best apprehensive what if any food there will be on their flight, hence they rather pick and choose what they might eat before they get on their flight. What is better then a local flavor in the airport. Having fresh-fish, food made from scratch, not prepared food warmed up, how about that. Shrimp cocktail or Salmon Blue Wave salad for the health-conscious. Then again the Fish and Chips, not bad I could almost list the Menu hear, but the bottom line is now there is quality food at the Los Angeles Air Port. How about that, what a great way to start your trip by having a Taste of Malibu on your way out and looking forward to coming back to Los Angeles. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood,West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at...
read morePlaya Vista,CA Market Report for April 2009
Playa Vista,CA Market Report for April 2009 Here we are April has come and gone. Let’s look at the statistics. I have a little gait in my step, since this is the third area which I have been monitoring very closely and I have good news to report. Since January every month I had good news to share with you. These are not imaginary numbers to believe, rather they are actual hard numbers taken form the Multiple Listing Service for the month of April. There are 58 Active listings in the MLS as of May 1st, 2009 compared to last month it is virtually identical. There were 60 active listings in March. Currently, there are 7 Escrows that are accepting back up offers vs. 5 last month. These are small increases, nevertheless reassuring. There are 8 properties that are pending also a small increase over last month’s 7 pending properties. The Sales I am excited to report showed a dramatic increase, in spite of Lenders continuing to tighten the purses via appraisals and credit verifications. We had 7 properties that Sold in April compared to the 4 which sold in March. I am leading a crusade here to set the record straight, as you all have seen me write many times, that Real Estate is Local and not National. We have micro markets even on the West Side of Los Angeles. As you can see this little micro market of Los Angeles, known as Playa Vista has shown steady improvement since January of this year. Should you like sales information/data about any other part of Los Angeles, please feel free to contact me directly. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood,West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at https://www.endrebarath.com ...
read moreCentury City, CA Market Report for April, 2009
Century City, CA Market Report for April, 2009 Here we are and the numbers are in for the month of April. Century City, CA has boasted of an improvement month after month in the sales activity, since the beginning of the year. So I am optimistic, but at the same time realistic about the current state of the real estate market, hence I am just as anxious as you to see how it turned out. I have been involved in multiple offer situations last month, so I have a good feeling where the numbers will be. With this introduction, let’s see the numbers. Currently there are 306 Active Listings which is an increase form March by about 8 listings. There are also 30 properties in Escrow, where the buyers have not removed their contingencies; this is also an increase by 5 over March. I was so amazed in March over the actual in Pending and we have surpassed that in April as well in March there were 38 Pending and in April we had 50 Pending. This is truly a sign of improvement in the Market. In spite of the tightening of Appraisals and Lending practices virtually the Sales numbers are Identical to the March numbers. In March there were 20 sales and in April 19. As I was being cautiously optimistic about the consumer confidence returning to Century City, CA. This is clear now; these numbers are clear and unaltered. I always said Real Estate was Local and we have micro markets and in this small pocket of Los Angeles, life is returning to the Real Estate Market as the past four months have indicated it. Should you like other sales information/data about any other part of Los Angeles, please feel free to contact me directly. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood,West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at https://www.endrebarath.com ...
read moreMarina Del Rey Condominium Market Report for April 2009
Marina Del Rey Condominium Market Report for April 2009 April has been a very interesting month. A challenging environment to say the least, the market has been changing almost daily. So I was just as curious as you to see how the numbers came out. Every agent I have talked to felt that there has been more activity recently then before. Now with this introduction let’s see the actual numbers. The inventory has again increased. There are currently 199 Active Condominium Listings in Marina Del Rey, CA Interestingly enough there were 17 properties that were accepting Back up Offers. This is a huge increase over the previous month. Also increase were the pending over last month. There are currently 20 properties pending. Overall I report last month that there was a huge spike in the activity. Now I can say in all fairness it was not a spike rather a continuation of upswing of activities. So now let us look at the closed transactions. Here we have had a drop, in March we had 16 closed transactions. This month only 10 condominiums sold. I attribute this to the fact that lenders have continued to tighten their lending practice and it takes longer to get a loan, hence some of the closings were delayed and will reflect in next months numbers. The activity is more interesting from another perspective. Three of the 10 which sold were in multiple offers and sold above the asking price. This is noteworthy of the activity. One property was listed at $799,000 and the sellers ended up getting $825,000 .just as an example. It is not just the foreclosure o short sale market, which is very active. If a property is well priced, and it is in great showing condition, then the buyers jump on it, because they understand the value. In conclusion, I see a steady progress in the Sales Activity in the Marina as well as surrounding areas. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood,West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at https://www.endrebarath.com ...
read morePetRelocation.com Launches a New Pet Travel Website & Social Network
While every one has been bussy worrying about the Swine-flu, the economy and appraisal changes, quietly PetRelocation.com an independently-owned and privately funded company has unveield its new interactive pet travel and transportation website. This move makes them one of the first and one of its kind in the Pet Transportation Industry. I found out thanks to Rachel Farris, Director of PR & New Media at Petrelocation.com I met her on the internet in a pet discussion forum and then l saw her post on LinkedIn I wanted to share this with all pet lovers who have not heared about this. Pet owners can now enjoy the following features on the new website: 1. PetRelocation specialists answer pet travel questions in the Ask Our Experts section 2. PetRelocation Video Channel stars Bruno the dog and Chatty the cat discuss friendly airlines, pet travel arrangements and pet travel crates. 3.The Resources section contains international pet import requirement checklists for nearly every country in the world. The best par is all this is FREE! They are truly a great company, the spirit of a truly animal friendly organization. Their attitude is experessed by the CEO Kevin O’Brien so I must quote “…we want our websites to reflect the spirit of our company, not just another pet travel website…we are different from other companies in that no matter who you are, if you are moving a pet, PetRelocation wants to help you–even if it is just providing free pet ravel advice..” How cool is that! So please visit their website and spread the word in your animal sphere of influence. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood,West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at...
read moreTroubadour, A Legendary Club in West Hollywood California
Troubadour As you drive east on Santa Monica Boulevard from Beverly Hills to West Hollywood. The first building you see on the north side of the street has this large script written on it Troubadour First thing you start wondering what the definition is. Then you wonder why are there so many people in line early afternoon wanting to get into this small venue? Then you say I must do some research and find out what is this place. IF you understand the English definition then you know that a Troubadour is: usually referred to a medieval poet or singer, a writer or singer of lyric verse about courtly love. So why is this name, here in West Hollywood on this building? We are not in the 11th or the 13th Century in Europe, so what is this place? Well to the music aficionados of contemporary music this place is considered the launch pad for many Music Icons. To name a few Elton John and James Taylor performed here early in their musical careers. This place is rich in music history; many musicians started their careers here. The Troubadour opened in 1957 and I will just name a few to grab your attention. The Byrds performed their classic Dylan song “Tambourine Man” here for the first time. Joni Mitchell’s, Kris Kristofferson, and many others’ Los Angeles Debut were here. If I got your interest, then please check out the Troubadour’s website and enjoy the history.http://www.troubadour.com better yet make it a point to go to this destination place and see a performance. Guaranteed you will be seeing the next generation of Music Legends If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood,West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at...
read more10 More Reasons for Title Insurance
I have promised last week I will give ten more reasons for Title Insurance: •1. An heir or other person who was presumed dead may appear and rover the property or show an interest in the property. •2. A judgment reference the title may be voided, due to some defect in the proceeding. •3. If you insure the title, you can eliminate delays, when passing your title on to someone else. •4. Title Insurance will help speeding the negotiations, when you are ready to sell or obtain a loan. •5. A deed or mortgage may be voided, if signed while the grantor was in bankruptcy. •6. There may be a defect in the recording of a document upon which your title is dependent. •7. Claims have risen drastically over the past 30 years. •8. A deed or mortgage may have been procured by fraud or duress. •9. Title Insurance covers attorney fees and court costs. •10. Many attorneys protect their clients as well as themselves by procuring Title Insurance, should you? This one reason I feel the urge to repeat from my original ten. : A title policy is paid in full by the first premium for as long as you own the property. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at https://www.endrebarath.com ...
read moreMarina Del Rey Condominium Market Report for March 2009
Marina Del Rey Condominium Market Report for March 2009 I am very excited to report to the readers, the Month of March had a lot of positive activity. This trend is confirmed in the surrounding areas as well. The inventory has increased to 191 Active Listings in Marina Del Rey. The good news is there were 11 properties that were accepting Back up Offers, since the contingencies have not been removed yet. At the same time there were 19 Pending, contingencies removed waiting to close. (See last months report http://activerain.com/blogsview/964148/Marina-Del-Rey-Condominium-Market-Report-for-February-2009) The best news of all, there were 16 closed transactions for the month of March. As you might remember there were only seven closings last month. This is a huge spike in the activity. In conclusion, what I see is, that the Tax incentives, coupled with the ability to negotiate as well as the banks have allowed potential borrowers to buy again at a still very low interest rate, has increased the Sales Activity in the Marina as well as surrounding areas. Should you like sales information/data about any other part of Los Angeles, please feel free to contact me directly. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at https://www.endrebarath.com ...
read moreCentury City, CA Real Estate Market Report for March 2009
Well here we are April 1, 2009. The month of March 2009, data is now available. This is not an April Fools joke, these are the actual figures. Before I will give you the figures, for your convenience I am enclosing a link to the February Market Report so you can compare it easier to the current numbers. (http://activerain.com/blogsview/962925/Century-CityCA-Real-Estate-Market-Report-for-February-2009 ) There is almost no difference in the Active Listing inventory month over month between February and March 2009. The Multiple Listing Service had 294 Active Listings. Interestingly there has been an increase of Properties that are in Escrow accepting back up offers. For the month of March there are 25 properties in Escrow, where buyers have not removed their contingencies yet. Then what is even more amazing there are 38 Escrows which are pending. This is a major swing from last month. This number is just staggering. Last month there were only 10 properties pending. Evidently a lot of buyers got their confidence back during the month of March. Now to the best news of all the sold numbers went up as well. For the month of March there were 20 closed sales transactions vs. 14 for the month previously. I am pleasantly surprised at this numbers. It appears that consumer confidence is starting to return in Century City Real Estate. Should you like sales information/data about any other part of Los Angeles, please feel free to contact me directly. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites at https://www.endrebarath.com ...
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