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Los Angeles real estate Blog

New FHA changes for condo loans

FHA Changes to Condo Guidelines. Why They Matter

Gene Mundt, a Chicago mortgage lender talks about the new FHA changes re obtaining an FHA loan for condos. FHA (Federal Housing Administration) has announced that it is issuing new guidelines for Condominiums and Condominiums projects.  The new guidelines will take effect as of October 15, 2019. While the new rules extend the time period for FHA Certifications on condominium developments from 2 to 3 years …

Century City condo half yearly market report 2019

Century City Condos Half Yearly Market Report 2019

How did the  Century City condo market do during the first half of 2019? Let’s take a look. Century Hill Sold: 1 Price: $1,250,000 Price per sq. ft: $627 Homeowners dues: $1,645 to $2,295 There are currently 6 active listings. Century Hill is in a strong buyers’ market. Century Towers Sold: 6 Average price: $1,614,166 – 33% increase over same period 2018 Average price …

Santa Monica real estate market report June 2019

Santa Monica Real Estate Market Report June 2019

This is a Santa Monica real estate market update for June 2019. Compare the stats to the previous two years. Number Sold Median Sold Price Active Listings Months Supply of Inventory Less than 5 months = sellers’ market | 5 to 7 months = stable market | Over 7 months = buyers’ market Based on the months supply of inventory in Santa Monica the …

Wilshire Corridor condos half-yearly market report June 2019

Wilshire Corridor Condos Half-Yearly Market Report June 2019

Let's see how the Wilshire Corridor condo market did in the first half of 2019 as compared to the same period the previous year. 1200 Club View Drive – Beverly West (Not all sales are reported through the MLS) Number sold: 0 865-875 Comstock Ave. – The Comstock Number Sold: 4 Average price: $1,112,125 Average price per sq. ft: $614 Average price change: -9%% ...
All cash buyers and overpriced listings. What to do

All Cash Buyers and Overpriced Listings

If you are an all-cash buyer purchasing a home you stand a pretty good chance of being the front runner in a  bidding war. In the crazy multi-offer days of the past few years cash was king. Home sellers look favorably on the all-cash offer as long as the terms and conditions are reasonable. However, the home buying competition has forced prices up in …

Los Angeles real estate May 20198

How is the Los Angeles Real Estate Market? – May 2019

Let’s check in on selected areas of the Los Angeles real estate market for May 2019.   Sales of Los Angeles single family homes are down in all categories compared with the same period over the past two years. Below are some stats for selected areas. Single Family Median Sales Price Area May 2018 May 2019 April 2019 Beverly Hills $5,685,000 $5,200,000 $9,325,000 Beverly …

Is looking for homes for sale online the best use of your time?

Finding Homes For Sale Online. Is That The Best Use of Your Time?

In this internet-driven society we are almost always drawn to look online when making a purchase, either to check out pricing to get the best deal or to actually buy. We don’t have to run around different stores, carry heavy items home, or worry about not finding exactly what we want. Buying online is convenient. Can the same be said for home buying? It …

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Westwood Real Estate Market May 2019

How is the Westwood real estate market doing? Let’s look at May 2019 compared with the same period in 2018.   Single family home sales were down over the same period in 2018 but remained the same for condos.   < Inventory for single family homes was up 70% over 2018. Condo inventory was up 39% over the previous year.   The median price …

Taking The Mystery Out of Credit Score Calculations

Credit … Credit Building … Credit Repair … Credit Reports … Credit Scores … Credit Scoring …   I feel a bit like Bubba in Forrest Gump at times when I speak or write of credit-related things …Why?  Because such a large number of the questions I receive as a Chicagoland Mortgage Originator revolve around credit and credit topics.   And rightfully so, as credit … and all things reliant …

Santa Monica real estate market report June 2019

Santa Monica Real Estate Report April 2019

Let's look at the Santa Monica real estate market for April 2019 and compare it to the same period in 2018.     The number of single family homes sold in April compared with the same month in 2018 rose 31%. Condo sales dropped 27.5%.   Inventory of single family homes increased by 25%. Condo inventory increased by 4%.   The median price for ...

How is the Los Angeles Real Estate Market Doing? April 2019

How is the Los Angeles real estate market doing? The charts below are broken down by single family homes and condos and compare April 2019 to March 2019 and the same period the previous year. This is a small sample size, and one month does not a trend make. Follow the market over the next few months. Single Family Median Sales Price Area April …

How to Prepare Your Home to Sell

You have decided to put your property on the market so what do you need to do to prepare your home to sell? This post is geared towards the first part of the selling process which is to get your home looking its best, both for the camera and prospective buyers. Whether it is a buyers’ or a sellers’ market you still need to …

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