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By Keith Sorem | Agent in Glendale, CA
  • Real Estate Market Report La Crescenta CA July 2010

    Posted Under: Market Conditions in La Crescenta  |  August 18, 2010 6:32 PM  |  424 views  |  No comments

    R

    EAL ESTATE MARKET REPORT

    La Crescenta/Montrose/Glendale Annex July, 2010

    At A Glance

    The Market Index declined 8 points to 0.52 and the key factors are more New Listing and a lower Pending Ratio, resulting in twice the Months of Inventory compared to last year. It is late in the market to sell…maybe they have to sell? Interest rates are at new all time lows (who knew?) so it is a great time to buy or re-finance


    Recommendations

    For buyers

    – New first time home buyer tax credit in California, up to $10,000, visit www.ftb.ca.gov for details. The state is still accepting applications subject to funding limits. Combined with these low interest rates, a great time to buy.

    For sellers

    - Maximize your profit by taking advantage of our Highest Price Analysis. Call today for your no obligation appointment and learn how to make the most when you sell.

    For a no-obligation consultation call today


    Keith Sorem

    Glendale CA Realtor® of the Year 2009

    DRE# 01374635

     

    Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change

     


  • Real Estate Market Index Report La Crescenta, CA February 2010

    Posted Under: Market Conditions in La Crescenta  |  March 10, 2010 3:07 PM  |  390 views  |  No comments

    Real Estate Market Report

    .

    La Crescenta/Montrose/Glendale Annex           February, 2010

     

    At A Glance

    What a difference a month makes.  The Market Index dropped to 0.53, back to March-April levels primarily due to more inventory and fewer sales.  Considering the past few months this is a great time for buyers to get a good deal.  At least now sellers have competition and cannot afford to overprice if they want top dollar.  Note that you need to open escrow by April 30th to take advantage of the $8,000 Federal Tax Credit, and close by June 30th. 

     

    Market Activity Index – 0.53, a decline of 0.22 points

    The Market Index a year ago was 0.25.   

    New Listings – 24 new listings, up from 20 last month.  Last year there were 25.  Of the 24, two were short sales and three were bank-owned.

     

    Pending Listings – 17 listings entered escrow compared to 19 last month, and 16 last year.

     

    Pending Ratio –0.71, down from 0.95 points last month.  Last year the ratio was 0.64.

     

    Listing Inventory – 72 properties, up 7 from last month’s 60.  Last year we had 102 listings on the market. 

     

    Sold Listings – 21 listings sold, down from the 26 listings last month, and well above 8 the year before.

       

    Months of Inventory – 3.4 months up from 2.3 last month. Last year was 11.6


    Average Sales Price
    - $554,448, down from last month’s $646.881 and down from last year’s $619,625 a 10.5% increase, due mainly to smaller homes being sold, 1,736 square feet (SF) versus 1,575 SF this year. 

    Price per square foot –$352.03, down from last month’s $353.87, and up from last year’s $356.93 for an decrease of -1.4%.

    Recommendations

     

    For buyers – A great time to make conservative offers.   To take advantage of the First Time Home Buyer Federal Tax Credit you must open escrow by April 30th. 

     

    For sellers – Now you’ve got competition.  How do you make certain that you do not leave any money on the table when you sell?  Maximize your profit by taking advantage of our Highest Price Analysis.  Call today for your no-obligation appointment and learn how to make the most when you sell.


    Keith Sorem

    Glendale CA Realtor® of the Year 2009

    DRE# 01374635

     

    Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change

     



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  • Real Estate Market Index Report La Crescenta CA September 2009

    Posted Under: Market Conditions in La Crescenta  |  October 8, 2009 3:54 PM  |  385 views  |  No comments

    Real Estate Market Report

    La Crescenta/Montrose/Annex, CA    September, 2009

       

    Market Activity Index – 1.09 UP 23 points.

    A market index of above 1.20 is a seller’s market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer’s market.

           

    The Market Index increased to 1.09 from last months 0.86 – A year ago it was 0.32.   

     

    New Listings – 17 new listings, down from 20 last month.  Last year there were 55.

     

    Pending Listings – 23 listings entered escrow compared to 23 last month, and 12 last year.

     

    Pending Ratio –1.35, up 0.20 points from last month’s 1.15.  Last year the ratio was 0.22.

     

    Listing Inventory – 55 properties, down from last month’s 65.  Last year we had 98 listings on the market. Inventory continues to decline. 

     

    Sold Listings – 34 listings sold, about even with 33 listings last month, and 19 the year before.   

     

    Absorption Rate is 1.6 months compared to 2.0 last month and 5.2 months last year.  Note:  a balanced market is considered to be a six month supply of listings.

     

    Average Sales Price - $577,284, down from last month’s $601,955 and down from last year’s $552,747, a 4.4% drop. 

     

    Price per square foot –$367.93, down from last month’s $368.84, and UP 7.4% compared to last year’s $342.68.

     

    Conclusions

    The Market Index increase reflects the continuing decline in the Absorption Rate with less than two month’s of inventory available.  The Average Sale Price increased slightly and so did the Average Sale Price per Square Foot.  

     

    For buyers –Slim pickings means multiple offers on properties that are priced right, and low-ball offers are likely to be ignored by sellers.

     

    For sellers – Maximize your profit by taking advantage of our Highest Price Analysis and learn how to make the most when you sell.

     
    Keith Sorem Realtor
    DRE #01374365
    Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change

  • Real Estate Market Index Reoport La Crescenta CA August 2009

    Posted Under: Market Conditions in La Crescenta  |  September 23, 2009 2:50 PM  |  356 views  |  No comments

    Real Estate Market Report        


     
    La Crescenta, CA        August, 2009

                       

    Market Activity Index – 0.86 UP 1 point.

    A market index of above 1.20 is a seller’s market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer’s market.

                                                                                                                                                                                       

    The Market Index increased to 0.86  from last months  0.85 – A year ago it was 0.31.   

     

    New Listings – 20 new listings, down from 25 last month.  Last year there were 44.

     

    Pending Listings – 23 listings entered escrow compared to 23 last month, and 12 last year.

     

    Pending Ratio –1.15, up0.22 points from last month’s 0.92.  Last year the ratio was 0.34.

     

    Listing Inventory –65 properties, down from last month’s 74.  Last year we had 118 listings on the market. Inventory continues to decline. 

     

    Sold Listings – 33 listings sold, down from 40 listings last month, and 24 the year before.   

     

    Absorption Rate is 2.0 months compared to 1.9 last month and 4.9 months last year.  Note:  a balanced market is considered to be a six month supply of listings.

     

    Average Sales Price - $601,955, up from last months $557,975  and down from last year’s $582,017 or a 3.4% drop. 

     

    Price per square foot –$368.84up from last month’s $335.18,  and down 6.5%  compared to last year’s $394.59.

     

    Conclusions

    The Market Index continues to remain high.  Prices are showing signs of increasing and appear to have bottomed out in January.  The market is struggling due to the weak economy and the revised appraisal systems in place since May 1st.

     

    For buyers – better plan on paying more, dealing with multiple offers on well-priced properties, and receiving counters from sellers.

    For sellers – preparing your home for sale is the key to getting the best price. Beware of appraisal issues, plan ahead.  


    Keith Sorem Realtor DRE #01374635

    Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change.


  • Real Estate Market Index Report La Crescenta CA July 2009

    Posted Under: Market Conditions in La Crescenta  |  August 7, 2009 5:00 PM  |  372 views  |  No comments

    Real Estate Market Report

     

    La Crescenta, CA        July, 2009

       

    Market Activity Index – 0.85 UP 15 points.

    A market index of above 1.20 is a seller’s market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer’s market.

       

    The Market Index jumped 0.85 from last months  0.70 – A year ago it was 0.41.   

     

    New Listings – 25 new listings, up from 29 last month.  Last year there were 34.

     

    Pending Listings – 23 listings entered escrow compared to 25 last month, and 15 last year.

     

    Pending Ratio – 0.92, UP from last month’s 0.86.  Last year the ratio was 0.74.

     

    Listing Inventory –74 properties, up from last months 72.  Last year we had 102 listings on the market. Active listings continue to decline. 

     

    Sold Listings – 40 listings sold, up from  28 listings last month, and 27 the year before.   

     

    Absorption Rate is 1.9 months compared to 2.7 last month and 3.8 months last year.  Note:  a balanced market is considered to be a six month supply of listings.

     

    Average Sales Price - $557,975, up from last months $565,610  and down from last year’s $678,589 or a 19.0% drop. 

     

    Price per square foot –$335.18, down from last month’s $320.82, and down 5.6 % compared to last year’s $355.10.

     

    Conclusions

    The Market Index continues to remain high.  Unit sales are strong, so demand is slowly outpacing inventory.  Prices are beginning to show signs of stabilizing.  Values appear to be bottoming out.

     

    For buyers – this may be the bottom of the market

    Interest rates are still low.

     

    For sellers – preparing your home for sale is the key to getting the best price. Beware of appraisal issues, plan ahead. 

    Keith Sorem Realtor DRE# 01374635

    Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change.


  • Real Estate Market Index Report La Crescenta, CA June 2009

    Posted Under: Market Conditions in La Crescenta  |  July 8, 2009 1:46 PM  |  355 views  |  No comments


    Real Estate Market Report


    La Crescenta, CA    June, 2009

     

    Market Activity Index – 0.70 down 5 points.


    A market index of above 1.20 is a seller’s market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer’s market.

       

    The Market Index dropped to 0.70 from last months  0.75 – A year ago it was 0.44.   

     

    New Listings – 29 new listings, up from 21 last month.  Last year there were 33.

     

    Pending Listings – 25 listings entered escrow compared to 32 last month, and 24 last year.

     

    Pending Ratio – 0.86, down from last month’s 1.52.  Last year the ratio was 0.73.

     

    Listing Inventory –76 properties, down from last months 80.  Last year we had 116 listings on the market. Active listings continue to decline. 

     

    Sold Listings – 28 listings sold, equal to 28 listings last month, and 27 the year before.   

     

    Days On Market – 89 again equal to 89 last month and 79 last year.

     

    Absorption Rate is 2.7 months compared to 2.9 last month and 4.3 months last year.  Note:  a balanced market is considered to be a six month supply of listings.

     

    Average Sales Price - $565,610 up from last months $543,179 and down from last year’s $604,429 or a 6.4% drop. 

     

    Price per square foot –$320.82, down from last month’s $333.85, and down 12.8 % compared to last year’s $367.88.

    Conclusions

    The Market Index continues to remain high.  Unit sales are strong, so demand is slowly outpacing inventory.  Prices are beginning to show signs of stabilizing.  Values appear to be bottoming out.

     

    For buyers – this may be the bottom of the market

    Interest rates are still low.

     

    For sellers – preparing your home for sale is the key to getting the best price. Beware of appraisal issues, plan ahead. 

     

    For a consultation or questions feel free to call


    Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change
  • Real Estate Market Index Report La Crescenta, CA May 2009

    Posted Under: Market Conditions in La Crescenta  |  June 15, 2009 11:55 AM  |  313 views  |  No comments

    Real Estate Market Report

    La Crescenta, CA  May, 2009

     

    Market Activity Index

    A market index of above 1.20 is a seller’s market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer’s market.

       

    The Market Index soared to 0.75 from last months 0.35 – A year ago it was 0.38.   

     

    New Listings – 21 new listings, way down from 58 last month.  Last year there were 36.

     

    Pending Listings – 32 listings entered escrow compared to 20 last month, and 15 last year.

     

    Pending Ratio – 1.52, down from last month’s 0.34.  Last year the ratio was 0.42.

     

     

    Listing Inventory –80 properties, down from last months 123.  Last year we had 118 listings on the market.   

     

    Sold Listings – 28 listings sold, versus 23 listings last month, compared to 30 the year before.   

     

    Days On Market – 89, compared to 104 last month and 57 last year.

    Absorption Rate
    is 2.9 months compared to 5.4 last month and 3.9 months last year.  Note:  a balanced market is considered to be a six month supply of listings.

     





    Average Sales Price
    - $543,179 down from last months $560,196, and down from last year’s $628,571 or a 13.6% drop. 

    Price per square foot –$333.85, UP from last month’s $313.66, and down 11.4 % compared to last year’s $394.83.

     

    Conclusions

    The Absorption Rate (if home sales continued at the present rate, the number of months it would take to consume the current listing inventory) continues to drop.  Unit sales are strong, so demand is slowly outpacing inventory.  Prices are beginning to show signs of stabilizing.  Values appear to be bottoming out.

     

    For buyers – this may be the bottom of the market

    .

    For sellers – preparing your home for sale is the key to getting the best price. 

    Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change

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