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Identifying Local Property Price Direction Changes 06-05-2012

I have recently been asked how it was that I was able to identify the month in which the Pacific Palisades real estate market began a gradual upward move having reversed a downward price movement a few months earlier. The inquirer wondered if there might be some source of information that could be helpful in identifying such future price direction changes.

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Is The Local Market Turning? 02-08-2012

In the past few months, the stage may have been set for a possible nationwide real estate recovery. The Federal Reserve has determined to do everything possible to maintain 60-year low levels of interest rates for the next two years. Lenders have finally begun to loosen up underwriting standards for the approval of home financing. Many lenders are now willing to provide financing with 20% down in price ranges they had been limiting to 25% down. The widely-expected flood of foreclosure properties has never occurred in the Palisades. Many potential sellers have chosen to remain on the sidelines until prices show signs of increasing, thus limiting the inventory of homes available for buyers to select from.

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Pacific Palisades Housing Market: Looking Back and Forward 01-06-2012

As we begin the year 2012, the number of homes available for sale in Pacific Palisades is quite low.  There are only 70 homes on the market, which is 22 percent less supply than at the beginning of last year. 

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Who Pays for What in a Residential Real Estate Transaction 12-05-2011

We are often asked by both sellers and potential buyers what the various expenses are in the process of their sale or purchase of a home. The following is a summary of the traditional distribution of expenses associated with these transactions. It should be noted that many of these items can be negotiated by both parties as part of the Purchase Agreement, excluding some expenses that may be required by the City or the buyer’s lender to be paid specifically by the seller.

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Responsibilities in Communications Between Buyers & Agents 10-25-2011

Previous subjects we have covered in this column include the value of working with a buyer’s agent, some of the risks of buyers being represented by the seller’s agent, and home searching on one’s own versus with the assistance of a real estate agent.

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Reasons to Buy Sooner Than Later 10-14-2011

It is almost impossible to perfectly time either the purchase or sale of any asset, especially real estate. Often when price movements have reached extreme highs or lows, they are about to change direction. With current average prices being 25-35% off from their 2007 peak, they are certainly far closer to a bottom if not already at that level.

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12 Things I've Learned in 25 Years of Real Estate 08-15-2011

Since I have had nearly 1,000 escrows, a new agent recently asked me what key lessons I could share to help her successfully counsel both buyers and sellers. Although answering that could lead to a book, here are a dozen ideas I suggested:

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Tips for a Smooth Purchase Process 07-26-2011

Prospective buyers often ask us about what actions they should take to assure a successful purchase process with the least amount of stress or pressure. The following tips will assure a smoother process from start to finish:

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Loan Shop Before Home Shop 06-01-2011

Special to the Santa Monica Mirror

The residential loan process has become tremendously challenging since 2008. Many escrows have been delayed or cancelled as a result of the numerous recent lender and appraisal restrictions that have impacted the loan process.

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A Recipe for Escrow Success 05-01-2011

Special to the Palisadian Post

 

Since my team has a relatively higher rate of successful escrow closings, 90% versus 75% local average, I have been asked what attributes have been found most helpful to this success. In thinking this through, I have identified several key ingredients that are most helpful. These need to be used in combination by both sellers and buyers in order for escrows to be successful.

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