Housing prices have been trending up over the past few months. But that could change at any time since the employment situation does not appear to have improved significantly.

That is a good question Doug! Many people will go through referrals (about 75% of my business is through referral) or perhaps by meeting an agent and getting a good feel from them. You want to have a strong level of comfort from them that they are doing everything in their power to protect your interests and guide you smoothly through the transaction (among many other items).

I'd be happy to meet with you and discuss your goals in purchasing a home.

Sincerely,

Grant Linscott
Keller Williams Realty
323.333.6222 cell
grantlinscottproperty@gmail.com

thanks for all that commented....RE truly is difficult to figure out...though i have read many are dropping out of RE, how do all the agents identify potential clients? is it on Trulia, mailers, networking, or own website? so many to choose from,.

DougT

You may find this information interesting.....SOUTHERN CALIFORNIA HOME RESALE ACTIVITY
http://www.dqnews.com/Charts/Monthly-Charts/LA-Times-Charts/…

http://www.dqnews.com/Articles/2009/News/California/Southern…

http://www.housingpredictor.com/epidemic.html

http://www.housingpredictor.com/california.html

Dunes

DougT,

I don't know about you but I can read all of the responses below and still not have a clearer idea about the real answer. That's because, let's face it, nobody knows for sure.

"The best time to buy a home is when you're ready." Let me know if I can help with your financing when you get to that point.

You know more than you think,

Rob Spinosa
rspinosa@rpm-mtg.com

Housing Crash to Resume on 7 Million Foreclosures
http://www.bloomberg.com/apps/news?pid=20601087&sid=aw6_…

Read that, we also have 2.7 million foreclosures now somewhere in the pipeline. It does not sound liek it is really improving long term. The $8k buyer bribe gave a false bottom, for a short time.

Hi Doug,

Great question. In Santa Monica the average sales price is down about 20% this year compared with 2008. Last month there were 14 homes sold in Santa Monica based on the MLS statistics, and this month there are currently 41 homes in escrow. While some of these homes in escrow could have been in escrow for several months, I believe there has been a significant increase in Real Estate interest over the last several months.

Homes that are priced right are selling. As prices climb higher there are less buyers in the $2M+ segment, so if a home in this range is not exceptional and priced well, it will sit for longer.

I sold a home recently in the Palisades and several acres in Malibu and I'm happy to assist you in the Santa Monica and adjacent areas.

Best regards,

Grant Linscott
Keller Williams Realty, Lic #01715002
323.333.6222 cell
grantlinscottproperty@gmail.com

thanks for the comments...i was looking in the Santa Monica and neighboring areas...

Doug
You don't mention where you are looking.
To give you an example, I monitor six areas. Four are down from last year, two are up.
Price range is also an issue. Different price ranges are affected to varying degrees.

I would say overall the amount of listing inventory is decreasing, so prices may be declining, but at a lower rate. If you have a specific area in which you are looking you'd get a more useful answer.

I think most of Los Angeles County has found a bottom.

It depends on the market in which you are interested. As they say, real estate is local. I work in the Santa Barbara area and this includes Goleta, near UCSB. That market is red HOT with multiple offers on almost all listings under $800,000. (The median price in Santa Barbara is around $900K right now). Best to look at the interest rates are your prime consideration if you need a loan - it is difficult to time the market for price, but easy to time it for interest rates. These are the best in YEARS.
Kathleen Barnato
Prudential CA Realty - Santa Barbara, Hope Ranch, Montecito

Depends where you look.

Toll Brothers stock just rose as 4th quater is doing well for them. Think sales have risen something like 42% for them.