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Ever notice it's nearly impossible to find good, independent real estate market research in Los Angeles? Where are home prices going? What about that housing bubble? What can I afford? How should I price my house? Anyone involved in the real estate market knows that the only way to answer these questions is to go out and spend months learning the real estate market. But, what if your dream home shows up before then?

07/26/08

Permalink 01:17:55 pm, Categories: General, 934 words   English (US)

Palos Verdes Real Estate

The Palos Verdes Real Estate Market Authority

From the desk of Greg M. Ingerson, Attorney At Law

During the Summer, Palos Verdes home sellers should begin to see a gradual decrease in the number of showings and inquiries for their home over the next few weeks.

Last month, the MLS summary showed that there were 317 homes for sale in Palos Verdes and 40 sold. Translation, under current market conditions, in any given month, you have about a 1 in 8 chance of selling your home.

In other words, when pricing your home, the practice of adding a "Pad" or "Cushion" to make room for negotiating is not advisable in this market.

As an informed Home Seller, you should understand that with an increase in inventory “supply” there is a corresponding decrease in demand.

Home Sellers should pay close attention to “Current Buyers.” Similar homes that have recently “Sold” tell us what people are willing to pay for this kind of home, in this area, at this time.

Information about similar homes “Currently for Sale” tells us what we are competing against. Buyers considering your home are also inspecting these homes.

Moreover, “Expired” listings tell us what people are not willing to pay for this kind of home, in this area, at this time.

Home Sellers in this market should realize that buyers in today's market will not overpay for a home and even if they would, the bank will not loan more than the home is worth when it doesn’t appraise.

So what can we expect? Demand should decrease a little over the coming weeks at least until the “sub-prime” mortgage meltdown crisis is figured out.

The Numbers Don’t Lie, Here Is What's Happening:
On July 1, 2008, there were 317 active listings for sale in the Palos Verdes Market (Area 160-177): 267 Houses; 19 Townhouses; and 31 Condominiums.

In the past year, there were 548 homes sold in Palos Verdes (between 7.01.07 and 6.30.08): 434 Houses; 54 Townhouses; and 60 Condominiums.

What this means is that on a yearly average, the inventory is currently turning over at a rate of approximately 1.7 times per year.

Broken down even further by specific property type, we find that given the current absorption rates, we can expect Houses to be on the market an average of 221 days, Townhouses will be on the market an average of 127 days, and Condominiums should be on the market an average of 186 days.

Market Recap for the Month of June 2008
When one compares the June results with the yearly result, we find that there is an approximately 7.9 month inventory of homes for sale in Palos Verdes.

Broken down by specific property type, we find that there is a 7.6 month inventory of Houses, a 6.3 month inventory of Townhouses, and a 15.5 month inventory of Condominiums on the market in Palos Verdes. (Based on current absorption rates).

How should a Seller approach the market? The key in today's market is proper pricing. If you are thinking of selling, now may be the best time to put your Home on the market for the foreseeable future before any additional interest rate increases are implemented.

How should a Buyer approach the market? For buyers, this is a good time to be in the market while sellers are willing to negotiate price and while interest rates are still low. For those hoping that the market will cool, any advantage obtained by waiting for prices to decrease may be offset by higher interest rates.

For more information regarding the Palos Verdes and/or greater Los Angeles Real Estate Markets, please visit our website at http://www.LAHomeSearch.com for FREE information or give our office a call at 310.908.2172 for Free Recorded Information 24 Hours a Day.

Sell Your Home In 120 Days or We’ll Sell It For Free
Buy a Home With NO Money Down
FREE Seller Reports Sell Your Home Fast And For Top Dollar
FREE Buyer Reports – Get The Most Home For Your Money
FREE Over The Net Home Evaluation
Find Out What The House Down The Street Sold For
Virtual Tours
And much more 

Palos Verdes Home Sales by the Numbers
40 sold in June 2008
65 sold in June 2007

317 Current Active Listings
267 Houses
19 Townhouses
31 Condos

40 Sold in June 2008
35 Houses
3 Townhouses
2 Condos

27 Expired in June 2008
20 Houses
2 Townhouses
5 Condos

67 Contingent & Pending in June 2008
51 Houses
10 Townhouses
6 Condos

65 Sold in June 2007
58 Houses
2 Townhouses
5 Condos

70 Sold in June 2006
52 Houses
9 Townhouses
9 Condos

101 Sold in June 2005
74 Houses
17 Townhouses
10 Condos

91 Sold in June 2004
77 Houses
9 Townhouses
5 Condos

102 Sold in June 2003
81 Houses
9 Townhouses
5 Condos

108 Sold in June 2002
95 Houses
6 Townhouses
7 Condos

110 Sold in June 2001
93 Houses
9 Townhouses
8 Condos

137 Sold in June 2000
113 Houses
15 Townhouses
9 Condos

12 Expired in June 2007
11 Houses
1 Townhouses
0 Condos

21 Expired in June 2006
17 Houses
2 Townhouses
2 Condos

5 Expired in June 2005
5 Houses
0 Townhouses
0 Condos

11 Expired in June 2004
10 Houses
0 Townhouses
1 Condos

12 Expired in June 2003
10 Houses
0 Townhouses
2 Condos

20 Expired in June 2002
18 Houses
0 Townhouses
2 Condos

19 Expired in June 2001
16 Houses
3 Townhouses
0 Condos

35 Expired in June 2000
31 Houses
1 Townhouses
3 Condos

To search for bank owned properties on the market go to http://www.LAHomeSearch.com

To search for Southern California Real Estate including real estate in Beverly Hills, Brentwood, Santa Monica, and Malibu go to http://www.LAHomeSearch.com

For Los Angeles Real Estate go to http://www.LAHomeSearch.com

To search for "For Sale By Owner" properties in the Los Angeles Real Estate Market visit http://www.FSBO.LAHomeSearch.com

Thinking of Selling? To get the most Money, Fastest Sale, and the Fewest Problems, visit http://www.LAHomeSearch.com

About the Author
Greg M. Ingerson, Attorney At Law & Real Estate Broker, is a real estate Broker with LA Home Search in Los Angeles, California. To learn more about the Los Angeles Real Estate Market, please visit http://www.LAHomeSearch.com

Permalink

07/25/08

Permalink 07:45:36 pm, Categories: General, 934 words   English (US)

San Pedro Real Estate

The San Pedro Real Estate Market Authority

From the desk of Greg M. Ingerson, Attorney At Law

During the Summer, San Pedro home sellers should begin to see a gradual decrease in the number of showings and inquiries for their home over the next few weeks.

Last month, the MLS summary showed that there were 237 homes for sale in San Pedro and 22 sold. Translation, under current market conditions, in any given month, you have about a 1 in 11 chance of selling your home.

In other words, when pricing your home, the practice of adding a "Pad" or "Cushion" to make room for negotiating is not advisable in this market.

As an informed Home Seller, you should understand that with an increase in inventory “supply” there is a corresponding decrease in demand.

Home Sellers should pay close attention to “Current Buyers.” Similar homes that have recently “Sold” tell us what people are willing to pay for this kind of home, in this area, at this time.

Information about similar homes “Currently for Sale” tells us what we are competing against. Buyers considering your home are also inspecting these homes.

Moreover, “Expired” listings tell us what people are not willing to pay for this kind of home, in this area, at this time.

Home Sellers in this market should realize that buyers in today's market will not overpay for a home and even if they would, the bank will not loan more than the home is worth when it doesn’t appraise.

So what can we expect? Demand should decrease a little over the coming weeks at least until the “sub-prime” mortgage meltdown crisis is figured out.

The Numbers Don’t Lie, Here Is What's Happening:
On July 1, 2008, there were 237 active listings for sale in the San Pedro Market (Area 179-193): 141 Houses; 29 Townhouses; and 67 Condominiums.

In the past year, there were 368 homes sold in San Pedro (between 7.01.07 and 6.30.08): 197 Houses; 64 Townhouses; and 72 Condominiums.

What this means is that on a yearly average, the inventory is currently turning over at a rate of approximately 1.4 times per year.

Broken down even further by specific property type, we find that given the current absorption rates, we can expect Houses to be on the market an average of 258 days, Townhouses will be on the market an average of 163 days, and Condominiums should be on the market an average of 335 days.

Market Recap for the Month of June 2008
When one compares the June results with the yearly result, we find that there is an approximately 10.8 month inventory of homes for sale in San Pedro.

Broken down by specific property type, we find that there is a 12.8 month inventory of Houses, a 5.8 month inventory of Townhouses, and a 11.2 month inventory of Condominiums on the market in San Pedro. (Based on current absorption rates).

How should a Seller approach the market? The key in today's market is proper pricing. If you are thinking of selling, now June be the best time to put your Home on the market for the foreseeable future before any additional interest rate increases are implemented.

How should a Buyer approach the market? For buyers, this is a good time to be in the market while sellers are willing to negotiate price and while interest rates are still low. For those hoping that the market will cool, any advantage obtained by waiting for prices to decrease June be offset by higher interest rates.

For more information regarding the San Pedro and/or greater Los Angeles Real Estate Markets, please visit our website at http://www.LAHomeSearch.com for FREE information or give our office a call at 310.908.2172 for Free Recorded Information 24 Hours a Day.

Sell Your Home In 120 Days or We’ll Sell It For Free
Buy a Home With NO Money Down
FREE Seller Reports Sell Your Home Fast And For Top Dollar
FREE Buyer Reports – Get The Most Home For Your Money
FREE Over The Net Home Evaluation
Find Out What The House Down The Street Sold For
Virtual Tours
And much more

San Pedro Home Sales by the Numbers
22 sold in June 2008
60 sold in June 2007

237 Current Active Listings
141 Houses
29 Townhouses
67 Condos

22 Sold in June 2008
11 Houses
5 Townhouses
6 Condos

35 Expired in June 2008
19 Houses
0 Townhouses
16 Condos

45 Contingent & Pending in June 2008
27 Houses
7 Townhouses
11 Condos

60 Sold in June 2007
33 Houses
14 Townhouses
13 Condos

71 Sold in June 2006
40 Houses
7 Townhouses
24 Condos

67 Sold in June 2005
39 Houses
11 Townhouses
17 Condos

67 Sold in June 2004
39 Houses
11 Townhouses
17 Condos

75 Sold in June 2003
51 Houses
16 Townhouses
28 Condos

80 Sold in June 2002
53 Houses
8 Townhouses
19 Condos

97 Sold in June 2001
57 Houses
18 Townhouses
22 Condos

95 Sold in June 2000
53 Houses
16 Townhouses
26 Condos

16 Expired in June 2007
9 Houses
2 Townhouses
5 Condos

13 Expired in June 2006
11 Houses
1 Townhouses
1 Condos

4 Expired in June 2005
2 Houses
1 Townhouses
1 Condos

3 Expired in June 2004
1 Houses
0 Townhouses
2 Condos

11 Expired in June 2003
6 Houses
1 Townhouses
4 Condos

8 Expired in June 2002
5 Houses
1 Townhouses
2 Condos

13 Expired in June 2001
9 Houses
2 Townhouses
2 Condos

17 Expired in June 2000
11 Houses
0 Townhouses
6 Condos

To search for bank owned properties on the market go to http://www.LAHomeSearch.com

To search for Southern California Real Estate including real estate in Beverly Hills, Brentwood, Santa Monica, and Malibu go to http://www.LAHomeSearch.com

For Los Angeles Real Estate go to http://www.LAHomeSearch.com

To search for "For Sale By Owner" properties in the Los Angeles Real Estate Market visit http://www.FSBO.LAHomeSearch.com

Thinking of Selling? To get the most Money, Fastest Sale, and the Fewest Problems, visit http://www.LAHomeSearch.com

About the Author
Greg M. Ingerson, Attorney At Law & Real Estate Broker, is a real estate Broker with LA Home Search in Los Angeles, California. To learn more about the Los Angeles Real Estate Market, please visit http://www.LAHomeSearch.com

Permalink
Permalink 01:23:41 pm, Categories: General, 1603 words   English (US)

PTSD IN ELEPHANTS AND THE ELEPHANT SANCTUARY

WATCH "20/20" ON FRIDAY at 10 p.m. ET --
FEATURES PTSD IN ELEPHANTS AND THE ELEPHANT SANCTUARY

"They're Like Us," Elephant Researchers Say

From Kenya to Tennessee, Elephants With PTSD Symptoms Are Finding Some Peace

By KIMBERLY LAUNIER
July 24, 2008

There is something startling about an elephant's eyes.

Their fiery amber color seems to blaze against the surrounding skin's burlap creases. An ancient face, lined with history, but it is the eyes that convey the generational knowledge of the species. They offer a glimpse into what researchers now say is a surprising level of consciousness. It is one of many reasons why the place elephants hold in our imaginations is both epic, and wondrous.

Watch the story Friday on "20/20" at 10 p.m. ET

"There are things about elephants that seem so similar to us. Their family life, their emotional life, the fact that they grieve. They stand out from other animals," said Gay Bradshaw, director of a research institute called The Kerulos Center. http://www.kerulos.org

"They're Like Us"
Field scientists have studied the special bonds of elephant herds for decades. Family members mourn their dead, even gently caressing the jawbones of their ancestors during grieving rituals.

Filmmakers have also documented moments of pachyderm heroism, as when a herd of adult females rescued a baby elephant that had fallen into a mud hole, remarkably forming their own team of first responders.

And in a poignant demonstration of similarity to humans, an elephant named Happy at New York's Bronx Zoo recently joined the ranks of self-aware species that includes humans, apes and dolphins. Happy showed scientists something profound when she passed the test for self-recognition: An understanding that the elephant in the mirror & was her.

"I think the real shock right now, in terms of the mirror self-recognition tests and their intelligence and their emotions is, they're like us. It's not that they're way up there. It's that they're on level footing with us," said Bradshaw.

But even as science holds a mirror to our similarities, in recent years researchers have observed a violent change in elephant-human relations after decades of peaceful coexistence.

"Humans are regarded as the enemy. You must never, ever be cruel to an elephant because they have an amazing memory. They will remember that for life. And they bear grudges," said Daphne Sheldrick, a renowned wild elephant expert and director of The David Sheldrick Wildlife Trust http://www.sheldrickwildlifetrust.org/ .

'An Elephant Can Be Traumatized'
Creatures who seem to share the best of what makes us human are now revealing they are also capable of the worst.

One of the most terrifying cases took place in a circus tent in 1994, when Tyke, an African elephant, mauled her groomer and trainer.

It was a modern-day version of King Kong eerily come to life, when Tyke escaped into the streets of downtown Honolulu, seeking refuge from the gathering armies of law enforcement, until she was eventually gunned down. It took 87 bullets.

"The Tyke footage is particularly disturbing when you look through the eyes of the science, because you understand the behavior that Tyke displays is someone who is incredibly stressed, someone who is so traumatized and so upset. It's very un-elephant like behavior," said Bradshaw.

Elephants have ample reason to fear humans. In the last century their population has been decimated, from an estimated 10 million in the early 1900s to half a million now.

They are slaughtered for the ivory and sport hunting trades, or captured for zoos and circuses. Generations of orphaned herds have become broken, so unlike themselves -- now aggressive and depressed. Bradshaw and her fellow researchers have made a diagnosis that was once thought to be uniquely human: Post Traumatic Stress Disorder.

"To diagnose an elephant with PTSD is novel, but that's because we have denied elephants the capacity of having a mind, having emotions. All the neuroscience says, yes, it's there, and the behavior confirms it," Bradshaw said.

Bradshaw and her colleagues published these startling findings in the journal Nature.

"How an elephant can be traumatized is seeing, for example, their mother killed with a gun. It's a huge shock," Bradshaw said. "Being taken away from their family, taken away from the herd and put into captivity."

For many elephant orphans, surviving capture is only the beginning of their journey out of Africa, and into a new heart of darkness.

"The trauma stays with the elephant when they're in captivity. They adapt to the life. That's a survival mechanism. Just like human prisoners. Some people can survive, some people cannot," Bradshaw said.

Orphaned Elephants Find Refuge
Sheldrick said she has seen how the elephants change. "When you look at a miserable captive in a zoo, you're not seeing an elephant. You're seeing a tragedy," Sheldrick said.

A tragedy for what elephants have experienced, such as dominance training sessions in some facilities, and what they have not: the space to roam without boundaries.

"One hundred miles is a little stroll to an elephant. You can never give an elephant enough space in a zoo. It's like putting a human being in a matchbox for life," Sheldrick said.

For the last 30 years Sheldrick has been rescuing baby elephants orphaned and traumatized by the bloodshed of poachers.

"When they come in, newly orphaned, they have nightmares at night. They wake up screaming," said Sheldrick, who has become a surrogate mother at The David Sheldrick Wildlife Trust in Nairobi, Kenya, her orphanage for elephants. "The elephants have been the greatest challenge that I've had to face. Because at any age an elephant duplicates a human. When you take on an elephant, it's actually a lifetime's job."

Sheldrick and her devoted team nurture the babies back to physical health by feeding them milk every three hours, and back to emotional health by teaching them how to play and bond with new friends.

The keepers even sleep with the orphans at night, becoming a surrogate human family so that one day the elephants will be strong in spirit, and ready to join wild herds again.

"They have to be psychologically sound, because the wild elephants don't want a problem," said Sheldrick.

But there are some babies Sheldrick can't save. Elsewhere in the world, nursing elephants are separated from their mothers, their spirits broken in secret training camps so they can be taught to give tourists rides.

For decades, animals in the entertainment industry have been made to perform behaviors never seen in the wild, and the weight of captivity is bearing down on even the mightiest of animals.

"They're essentially very gentle animals. So for an elephant to become aggressive and kill a human, you have to understand how badly he's been treated by humans to be able to pluck up the courage to do that," Sheldrick said.

Healing in Tennessee
But something revolutionary is happening in the flatlands of Tennessee. Deep roars can be heard through trees that shield neighbors from an unlikely sight, one that is hidden from the main roads. A kind of asylum exists for previously dangerous or deprived elephants in captivity, now living the rest of their lives here in the semi-wild. Driving past the perimeter fences, an awareness that huge animals are nearby and unseen evokes comparisons to Jurassic Park, but with a therapeutic mission. The Elephant Sanctuary http://www.elephants.com/ , a private nonprofit organization in Hohenwald, Tenn., spans 2,700 acres of forests and spring-fed ponds.

This is a last refuge for elephants broken by humans, and they are here to heal. But doing so requires the elephants' ultimate act of trust in humans.

On a recent visit, ABC News correspondent Elizabeth Vargas was chaperoned inside the gates to discover an intimate world.

"She has her ears out so she's checking it out. And since she's the matriarch it's her job to make sure that everything is safe. It's a sign of trust and intimacy," said Carol Buckley as she approached an elephant named Shirley.

Buckley and Scott Blais, co-founders of The Elephant Sanctuary, establish trust with the animals, guided in part by the new theory that if humans and elephants can both suffer from Post-Traumatic Stress Disorder, maybe we can also share the hope for recovery.

"What we have learned, and what we have seen, without a doubt, they are experiencing some level of Post-Traumatic Stress Disorder," said Blais.

Creating a safe environment is vital to the progress made at the sanctuary, where 17 former circus and zoo elephants walk without chains or threat of abuse.

Applying techniques used to treat humans suffering from PTSD, Buckley and Blais research how these elephants have been stressed in the past, their responses, and tailor the sanctuary's programs to help each one.

Elephants once dangerous and isolated in captivity discover how to play again with new friends.

"They operate on a much deeper plane than we do, and you can't help but be fascinated with that," said Blais.

It's a sentiment Buckley shares.

"I think that's what happens with people who are around elephants. There's some profound connection that is made that is deeper than we have ever experienced before," she said.

To search for bank owned properties on the market go to http://www.LAHomeSearch.com

To search for Southern California Real Estate including real estate in Beverly Hills, Brentwood, Santa Monica, and Malibu go to http://www.LAHomeSearch.com

For Los Angeles Real Estate go to http://www.LAHomeSearch.com

To search for "For Sale By Owner" properties in the Los Angeles Real Estate Market visit http://www.FSBO.LAHomeSearch.com

Thinking of Selling? To get the most Money, Fastest Sale, and the Fewest Problems, visit http://www.LAHomeSearch.com

Permalink

07/24/08

Permalink 07:44:06 pm, Categories: General, 934 words   English (US)

South Redondo Real Estate

The South Redondo Real Estate Market Authority

From the desk of Greg M. Ingerson, Attorney At Law

During the Summer, South Redondo home sellers should begin to see a gradual decrease in the number of showings and inquiries for their home over the next few weeks.

Last month, the MLS summary showed that there were 174 homes for sale in South Redondo and 25 sold. Translation, under current market conditions, in any given month, you have about a 1 in 7 chance of selling your home.

In other words, when pricing your home, the practice of adding a "Pad" or "Cushion" to make room for negotiating is not advisable in this market.

As an informed Home Seller, you should understand that with an increase in inventory “supply” there is a corresponding decrease in demand.

Home Sellers should pay close attention to “Current Buyers.” Similar homes that have recently “Sold” tell us what people are willing to pay for this kind of home, in this area, at this time.

Information about similar homes “Currently for Sale” tells us what we are competing against. Buyers considering your home are also inspecting these homes.

Moreover, “Expired” listings tell us what people are not willing to pay for this kind of home, in this area, at this time.

Home Sellers in this market should realize that buyers in today's market will not overpay for a home and even if they would, the bank will not loan more than the home is worth when it doesn’t appraise.

So what can we expect? Demand should decrease a little over the coming weeks at least until the “sub-prime” mortgage meltdown crisis is figured out.

The Numbers Don’t Lie, Here Is What's Happening:
On July 1, 2008, there were 174 active listings for sale in the South Redondo Market (Area 155-157): 52 Houses; 73 Townhouses; and 49 Condominiums.

In the past year, there were 262 homes sold in South Redondo (between 7.01.07 and 6.30.08): 88 Houses; 110 Townhouses; and 64 Condominiums.

What this means is that on a yearly average, the inventory is currently turning over at a rate of approximately 1.5 times per year.

Broken down even further by specific property type, we find that given the current absorption rates, we can expect Houses to be on the market an average of 213 days, Townhouses will be on the market an average of 238 days, and Condominiums should be on the market an average of 276 days.

Market Recap for the Month of June 2008
When one compares the June results with the yearly result, we find that there is an approximately 7 month inventory of homes for sale in South Redondo.

Broken down by specific property type, we find that there is a 7.4 month inventory of Houses, a 6.1 month inventory of Townhouses, and a 8.2 month inventory of Condominiums on the market in South Redondo. (Based on current absorption rates).

How should a Seller approach the market? The key in today's market is proper pricing. If you are thinking of selling, now may be the best time to put your Home on the market for the foreseeable future before any additional interest rate increases are implemented.

How should a Buyer approach the market? For buyers, this is a good time to be in the market while sellers are willing to negotiate price and while interest rates are still low. For those hoping that the market will cool, any advantage obtained by waiting for prices to decrease may be offset by higher interest rates.

For more information regarding the South Redondo and/or greater Los Angeles Real Estate Markets, please visit our website at http://www.LAHomeSearch.com for FREE information or give our office a call at 310.908.2172 for Free Recorded Information 24 Hours a Day.

Sell Your Home In 120 Days or We’ll Sell It For Free
Buy a Home With NO Money Down
FREE Seller Reports Sell Your Home Fast And For Top Dollar
FREE Buyer Reports – Get The Most Home For Your Money
FREE Over The Net Home Evaluation
Find Out What The House Down The Street Sold For
Virtual Tours
And much more 

South Redondo Home Sales by the Numbers
25 sold in June 2008
27 sold in June 2007

174 Current Active Listings
52 Houses
73 Townhouses
49 Condos

25 Sold in June 2008
7 Houses
12 Townhouses
6 Condos

10 Expired in June 2008
3 Houses
2 Townhouses
5 Condos

28 Contingent & Pending in June 2008
7 Houses
14 Townhouses
7 Condos

27 Sold in June 2007
9 Houses
12 Townhouses
6 Condos

52 Sold in June 2006
7 Houses
22 Townhouses
13 Condos

39 Sold in June 2005
7 Houses
19 Townhouses
13 Condos

38 Sold in June 2004
8 Houses
21 Townhouses
9 Condos

41 Sold in June 2003
12 Houses
19 Townhouses
10 Condos

40 Sold in June 2002
16 Houses
12 Townhouses
12 Condos

45 Sold in June 2001
15 Houses
17 Townhouses
13 Condos

51 Sold in June 2000
12 Houses
18 Townhouses
21 Condos

12 Expired in June 2007
1 Houses
9 Townhouses
2 Condos

9 Expired in June 2006
4 Houses
2 Townhouses
3 Condos

2 Expired in June 2005
1 Houses
1 Townhouses
0 Condos

0 Expired in June 2004
0 Houses
0 Townhouses
0 Condos

4 Expired in June 2003
2 Houses
0 Townhouses
2 Condos

7 Expired in June 2002
3 Houses
1 Townhouses
3 Condos

9 Expired in June 2001
4 Houses
2 Townhouses
3 Condos

8 Expired in June 2000
5 Houses
1 Townhouses
2 Condos

To search for bank owned properties on the market go to http://www.LAHomeSearch.com

To search for Southern California Real Estate including real estate in Beverly Hills, Brentwood, Santa Monica, and Malibu go to http://www.LAHomeSearch.com

For Los Angeles Real Estate go to http://www.LAHomeSearch.com

To search for "For Sale By Owner" properties in the Los Angeles Real Estate Market visit http://www.FSBO.LAHomeSearch.com

Thinking of Selling? To get the most Money, Fastest Sale, and the Fewest Problems, visit http://www.LAHomeSearch.com

About the Author
Greg M. Ingerson, Attorney At Law & Real Estate Broker, is a real estate Broker with LA Home Search in Los Angeles, California. To learn more about the Los Angeles Real Estate Market, please visit http://www.LAHomeSearch.com

Permalink

07/23/08

Permalink 07:42:19 pm, Categories: General, 934 words   English (US)

North Redondo Real Estate

The North Redondo Real Estate Market Authority

From the desk of Greg M. Ingerson, Attorney At Law

During the Summer, North Redondo home sellers should begin to see a gradual decrease in the number of showings and inquiries for their home over the next few weeks.

Last month, the MLS summary showed that there were 177 homes for sale in North Redondo and 35 sold. Translation, under current market conditions, in any given month, you have about a 1 in 5 chance of selling your home.

In other words, when pricing your home, the practice of adding a "Pad" or "Cushion" to make room for negotiating is not advisable in this market.

As an informed Home Seller, you should understand that with an increase in inventory “supply” there is a corresponding decrease in demand.

Home Sellers should pay close attention to “Current Buyers.” Similar homes that have recently “Sold” tell us what people are willing to pay for this kind of home, in this area, at this time.

Information about similar homes “Currently for Sale” tells us what we are competing against. Buyers considering your home are also inspecting these homes.

Moreover, “Expired” listings tell us what people are not willing to pay for this kind of home, in this area, at this time.

Home Sellers in this market should realize that buyers in today's market will not overpay for a home and even if they would, the bank will not loan more than the home is worth when it doesn’t appraise.

So what can we expect? Demand should decrease a little over the coming weeks at least until the “sub-prime” mortgage meltdown crisis is figured out.

The Numbers Don’t Lie, Here Is What's Happening:
On July 1, 2008, there were 177 active listings for sale in the North Redondo Market (Area 151-154): 78 Houses; 88 Townhouses; and 11 Condominiums.

In the past year, there were 361 homes sold in North Redondo (between 7.01.07 and 6.30.08): 154 Houses; 196 Townhouses; and 11 Condominiums.

What this means is that on a yearly average, the inventory is currently turning over at a rate of approximately 2.0 times per year.

Broken down even further by specific property type, we find that given the current absorption rates, we can expect Houses to be on the market an average of 182 days, Townhouses will be on the market an average of 162 days, and Condominiums should be on the market an average of 360 days.

Market Recap for the Month of June 2008
When one compares the June results with the yearly result, we find that there is an approximately 4.0 month inventory of homes for sale in North Redondo.

Broken down by specific property type, we find that there is a 3.9 month inventory of Houses, a 5.8 month inventory of Townhouses, and a 0 month inventory of Condominiums on the market in North Redondo. (Based on current absorption rates).

How should a Seller approach the market? The key in today's market is proper pricing. If you are thinking of selling, now may be the best time to put your Home on the market for the foreseeable future before any additional interest rate increases are implemented.

How should a Buyer approach the market? For buyers, this is a good time to be in the market while sellers are willing to negotiate price and while interest rates are still low. For those hoping that the market will cool, any advantage obtained by waiting for prices to decrease may be offset by higher interest rates.

For more information regarding the North Redondo and/or greater Los Angeles Real Estate Markets, please visit our website at http://www.LAHomeSearch.com for FREE information or give our office a call at 310.908.2172 for Free Recorded Information 24 Hours a Day.

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North Redondo Home Sales by the Numbers
35 sold in June 2008
56 sold in June 2007

177 Current Active Listings
78 Houses
88 Townhouses
11 Condos

35 Sold in June 2008
20 Houses
15 Townhouses
0 Condos

19 Expired in June 2008
4 Houses
13 Townhouses
2 Condos

46 Contingent & Pending in June 2008
21 Houses
23 Townhouses
2 Condos

56 Sold in June 2007
27 Houses
29 Townhouses
0 Condos

55 Sold in June 2006
25 Houses
30 Townhouses
0 Condos

77 Sold in June 2005
28 Houses
47 Townhouses
2 Condos

63 Sold in June 2004
22 Houses
39 Townhouses
2 Condos

62 Sold in June 2003
21 Houses
40 Townhouses
1 Condos

78 Sold in June 2002
27 Houses
47 Townhouses
4 Condo

71 Sold in June 2001
25 Houses
44 Townhouses
2 Condos

75 Sold in June 2000
28 Houses
45 Townhouses
2 Condo

4 Expired in June 2007
1 Houses
3 Townhouses
0 Condos

8 Expired in June 2006
5 Houses
3 Townhouses
0 Condos

6 Expired in June 2005
2 Houses
4 Townhouses
0 Condos

4 Expired in June 2004
1 Houses
3 Townhouses
0 Condos

9 Expired in June 2003
6 Houses
3 Townhouses
0 Condos

0 Expired in June 2002
0 Houses
0 Townhouses
0 Condos

7 Expired in June 2001
5 Houses
2 Townhouses
0 Condos

12 Expired in June 2000
6 Houses
6 Townhouses
0 Condos

To search for bank owned properties on the market go to http://www.LAHomeSearch.com

To search for Southern California Real Estate including real estate in Beverly Hills, Brentwood, Santa Monica, and Malibu go to http://www.LAHomeSearch.com

For Los Angeles Real Estate go to http://www.LAHomeSearch.com

To search for "For Sale By Owner" properties in the Los Angeles Real Estate Market visit http://www.FSBO.LAHomeSearch.com

Thinking of Selling? To get the most Money, Fastest Sale, and the Fewest Problems, visit http://www.LAHomeSearch.com

About the Author
Greg M. Ingerson, Attorney At Law & Real Estate Broker, is a real estate Broker with LA Home Search in Los Angeles, California. To learn more about the Los Angeles Real Estate Market, please visit http://www.LAHomeSearch.com

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