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Market Conditions in 91604 : Real Estate Advice

  • All43
  • Local Info3
  • Home Buying15
  • Home Selling3
  • Market Conditions2

Activity 5
Wed Sep 2, 2009
Andrew Jones answered:
Hi Jill,

Whether you receive an inflation adjusted $50k, or a $50k stake in the purchase price of a condo bought in 1992 seem like two different propositions to me. In one case you're talking about what $50k in 1992 is worth today. In the other, you're talking about a share of $400k. I depends on what the offer or agreement was.

Please feel free to contact me if you need any information on homes and prices.
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Wed Nov 10, 2010
Monique and Joe Carrabba answered:
Hey Mary,

I think and hope it will be better in a year. If your not looking to purchase another property with the funds from your inherited property than hold on till the market improves. If you are thinking of purchasing another property I think now is the time to do so as prices are low and interest rates are low which gives you more buying power. If the property is in Studio City than your lucky as that area hasn't been hit as hard and is very desirable.

If you decide to lease or sell, let me know as I'd be happy to assist you.

Thanks and best,

Monique Carrabba
The Carrabba Group
Keller Williams
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Sun Feb 22, 2009
Jocky answered:
Depends if you have to reinforce down to the bedrock, or make other pre-construction structural enhancements. Generally it is between $ 250 and 300 psf.
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Sat Apr 12, 2008
Ginger R. answered:
My opinion is that you shoulld post a link. He he. But it would be helpful.
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Fri Jul 19, 2013
Don Tepper answered:
Well, buyers are smart enough to realize that this isn't a hot market--hot being defined as properties selling quickly for close to full price. In fact, we're in a cool to cold market. Properties are taking a long time to sell, often at substantial discounts. Foreclosures are up. DOM is way up, in most cases. Hot? Not.

It is a great time to buy, considering interest rates, the amount of inventory on the market, and the willingness of more and more sellers to negotiate. And I do tell buyers that. But some buyers have houses they have to sell first and, in today's market, they really ought to sell before committing to buy another property. Other buyers worry that the price declines aren't through, yet. Sure, they can buy a house for $500,000 that would have gone for $600,000 18 months ago. They're worried that the same house will only be worth $400,000 next year. And buyers read the newspapers and watch TV. Yes, there's a lot of overwrought doom-and-gloom. But they can also see that the country appears to be on the verge of a recession. They can tell there's something wrong when American Home Mortgage folds, and Countrywide has to sell to Bank of America. If they track things, they see the Euro has gained 40% against the U.S. dollar, and Ford is no longer Number Two. Some of them are worried about the wars in Iraq and Afghanistan, with Iraq now estimated to cost over $1 trillion. They see petroleum around $100 a barrel. They go shopping and see even the staples--bread, milk, chicken--all way up. They see unemployment jump from 4.7% to 5.0% in one month.

I like real estate. For a lot of buyers, it makes sense to buy now. Absolutely. But there are 101 reasons why buyers are dragging their feet.
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