Making Sense of the Headlines: Real Estate Recovery in Greater Los Angeles Fact or Fiction?
Making Sense of the Headlines: Real Estate Recovery in the Greater Los Angeles Area Fact or Fiction?
I have noticed that Economists, News Media Members, Attorneys and anyone who has some sort of Platform whether it is a Blogging or Media Platform has gotten into the foolish practice of trying to predict when will home prices start to turn around? It is not about when prices will return, it is about Real Estate Activity! If there are sales and the sales volume is increasing that is a Clear Sign of Real Estate Recovery. Those are the Facts, period.
There are headlines: Home Prices edge up in APRIL, Appraisals Weigh down Housing Sales. Mortgage Applications Jump in JUNE, New Home sales fall amidst Sharp Rise in Prices, Thirty year Mortgage Rates fall to 9 month low, Lowest Rates of the year in spite of S & P downgrade US Debt from AAA to AA….
So how do you make heads and tails of it? How about looking at the FACTS, I know these sounds like a Strange Request, not to read the headlines of “Painful slow Growth”, Instead Read the Facts. You say but Endre, where do we get the Facts?
The answer is so simple to me: Read the Monthly Real Estate Market Reports for the areas that you are interested in.
For Example if you are interested in what the Marina Del Rey, CA Real Estate Market is doing than read my monthly Marina Del Rey CA Real Estate Market Report. Do not read my analysis, just look at the monthly numbers and draw your own conclusion. Interestingly after you do that, you will discover that the Headlines are giving a False Impression to you, because the FACTS contradict the Doom & Gloom of the Headlines.
So just to keep it simple, the Facts: Month of April 29 Sold, Month of May 22 Sold, Month of June 25 Sold, Month of July 15 Sold in the Marina Del Rey Condominium Market.
I also track the Statistics how the Real Estate Recovery is doing in Westwood/Century City, Playa Del Rey and Playa Vista. If these are not the areas you are interested in, ask me and I will be happy to provide you with the FACTS.
Fiction is the Headlines! Did you know that sometimes you read the Headlines and the actual article contradicts the Headlines? Why? Headlines are sometimes written by a different person from who actually wrote the article, hence sensationalizing gets people’s attention. So what do you want Facts or Fiction?
Facts: There were 10 Sales year to date that were over $10Million in Beverly Hills Proper (I only looked at Single Family Homes)
Fiction: High End Homes in Beverly Hills are not selling
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 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.
