La Crescenta, CA Real Estate News

By Keith Sorem
(Keller Williams Realty)
Statistics Don't Lie - REALTORS do!As we enter the second half of 2007 we have a great opportunity to evaluate our market and make some pretty broad conclusions.  Whether buying, selling, thinking (or dreading) of doing SOMETHING, don't we all like to know the TRUTH about the market?  You bet.For those that receive my monthly market report that covers 25 different local areas, you are familiar with my Market Index.  If the index is above 1.20 we have a Seller's market, if between 1.20 and 0.80 it's a balanced market where neither buyer nor seller have advantage, and below 0.80 we have a buyer's market.  Overall in my service area we are at 0.30, down from 0.32 from May.  So, in other words, a very strong buyer's market.  Which is good, because most of the time, an average market is a bu...
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What I love about the real estate market is that it is always changing.  Helping buyers and sellers understand the type of market we have is like giving someone a manicure on the telephone.  Almost impossible because of all the nuances.  Let's see if I can clear the air a little bit:In April we had 145 properties in inventory, increasing to 156 in May, typical of spring market.  In April 69 properties came on the market, and 14 went into escrow, a pending rate of only 20%.  In May 51 properties came on the market, and 23, or 45%, went into escrow.  So the typical trend of maximum inventory seems to be approaching.  People that need to buy are buying.The sale side is a different story.  In April 16 properties closed escrow and sold, with an average market time of 38 days, to add 1/3 for ...
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By Keith Sorem
(Keller Williams Realty)
The view from the "Balcony of Southern California" is great...a little smoggy, but still great.  Great school scores (they keep going up), nice people, a great place to live and work.How's the real estate market?  One of my favorite questions.   How do we really know?I'll explain how I do it:I measure the overall market with a Market Index, which is composed of key market variables we can measure.  If the Market Index is greater than 1.20, then it's a seller's market.  If it's between 1.20 and 0.80, it's a balanced market.  Below 0.80, it's a buyer's market.  La Crescenta's Market Index at the end of March was 0.53.  At the end of April it was 0.38, a fifteen point drop, or 28%.  If the stock market dropped 28% would you be worried?Let's look at what makes up the Market Index and see if...
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By Keith Sorem
(Keller Williams Realty)
Memorial Day, Monday, May 28thAs we take this time to remember those who have served in our armed forces please consider attending one of these events.  It's important to not forget the men and women who have died that we might have the freedoms that we enjoy.Burbank: Memorial Day Ceremony, 11 am at the McCambridge Park War Memorial.Montrose:  8am at the corner of Oceanview and Honolulu Avenues by the Vietnam Veterans' Memorial.La Crescenta:  Rick Dinger reporting:  8am at Two Strike Park this is a first time event that is sponsored by veterans.Glendale:  Carvel Gay, (Gay's Towing, and also the National Guard) reports: 9:30am at the Veterans Memorial, at Broadway and Isabel Streets. The keynote speaker is Maj. General William H. Wade II, the Adjutant General of the State of California, ...
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The view from the "Balcony of Southern California" is great...a little smoggy, but still great.  Great school scores (they keep going up), nice people, a great place to live and work.How's the real estate market?  One of my favorite questions.   How do we really know?I'll explain how I do it:I measure the overall market with a Market Index, which is composed of key market variables we can measure.  If the Market Index is greater than 1.20, then it's a seller's market.  If it's between 1.20 and 0.80, it's a balanced market.  Below 0.80, it's a buyer's market.  La Crescenta's Market Index at the end of March was 0.53.  At the end of April it was 0.38, a fifteen point drop, or 28%.  If the stock market dropped 28% would you be worried?Let's look at what makes up the Market Index and see if...
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