Thursday, September 22, 2005

C.A.R. 2006 Housing Market Forecast

C.A.R. EXPECTS SLIGHT COOLING IN HOME SALES NEXT YEAR The rate of home price appreciation will moderate next year following four years of steep increases, while sales in 2006 will decline slightly from this year's record pace, according to C.A.R.'s "2006 Housing Market Forecast" released today. The forecast was presented during the C.A.R. Centennial REALTOR® EXPO, running from Sept. 20 - 22 at the San Diego Convention Center.

The median home price in California will increase 10 percent to $575,500 in
2006 compared with a projected median of $523,150 this year, while sales for
2006 are projected to reach 630,610 units, falling 2 percent compared with 2005. The double-digit gain in the median price of a home, which California has experienced for most of the past five years, will again be fueled by the continuing shortage of housing across much of the state, according to C.A.R.
economists. California typically gains nearly 250,000 new households, yet only will build about 200,000 new housing units this year, creating a shortfall of about 50,000 units.

"The economic fundamentals at both the state and national level continue to support a strong housing market in the Golden State for the foreseeable future," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "However, we also expect that the wave of new loan products that have flooded the market over the past several years have injected a higher level of risk into the market, while affordability barriers to homeownership will continue to push residents inland and even out of state."

Wednesday, September 14, 2005

Glendale Market Update

Charming character homes & neighborhoods keep Glendale a sought after destination. Prices are a good value when compared to adjoining Silver Lake and Los Feliz. Single family asking prices currently range from $410,000 (2 & 1 / 616 sq ft / lot 1850) to $2,550,000.

Numerous Distinct Neighborhoods, my favorites: Adams Hill (Eclectic, views, hillside), Cumberland Heights & Melwood Estates (Character Estates & Homes), Verdugo Woodlands (wooded - don't be shocked when you see deer), Chevy Chase & Glenoaks Canyon (more deer in a quiet canyon setting), Rossmoyne & Northwest (generally vintage homes on flat lots).

SELLERS TIPS: Stage your home for sale, Phyllis Harb offers the complimentary services of a professional home stager to assist you in preparing your home for sale. Often, simply rearranging furniture and decluttering enhance the marketability of your home. Other times, inexpensive improvements will be recommended in order to further maximize your profits.

BUYERS TIPS: Flexibility: escrow period, possible rent backs, etc. Your flexibility often is as important to the seller as the offered price. Of course homebuyers should be pre-qualified and the prequalification letter as well as evidence of your down payment should be submitted with your offer.

Cosmetic fixers may be the best opportunity for buyers to obtain a "deal". Cosmetic fixers are homes that offer updated major systems (roof, central air, etc.) but have unappealing flooring, wallpaper, etc.


ZIP Code: 91201-91208

Location Characteristics: Ranked among the safest US cities according to size, Glendale enjoys an eclectic mix of vintage architecture and new homes

Tuesday, September 13, 2005

360 Degree Turn

When I started this blog, I was not quite sure which angle I would take with it. I have finally decided that I would turn this blog into an information portal about all aspects of real estate and community information in Glendale, Burbank, and surrounding areas.

Tomorrowow I will be posting current market conditions in Glendale & Burbank.

Monday, September 12, 2005

It's been a while...

Saturday was a great day! I was invited to my client, Vickie’s new home for her baby shower. She looks and feels great & is almost completely settled – which is great considering the baby (boy) is due in October. Vickie loves her new home and I am so pleased that she was able to find one before the baby came.

Thinking a lot about disaster preparedness…. Living in Earthquake Country. I wonder how many of us Angelinos are stocking up on food, water, etc. So I was searching on Google & found Ready, a website made by the U.S. Department of Homeland Security, to help us prepare for the unexpected. Anyhow, just thought I'd share it since I found it to have a great checklist of what we should all remember to have in our homes.