It was just a little over a year ago that the mortgage crisis began to unfold in full force. As we take a look back we can clearly document the impact this financial upheaval has had on our local West Los Angeles real estate markets. It is certainly not hard to see the black clouds [...]
Filed under: Industry and Economic News, Micro Market Updates on September 30th, 2008 | No Comments »
August 25, 2008 02:00 PM Eastern Daylight Time
LOS ANGELES–(BUSINESS WIRE)–Home sales increased 43.4 percent in July in California compared with the same period a year ago, while the median price of an existing home fell 40.3 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“Sales improved significantly in July 2008 and remained above the 400,000 [...]
Filed under: Industry and Economic News on August 29th, 2008 | No Comments »
In his commentary, Dennis Kneale of CNBC crunches the numbers. CNBC has posted a very interesting video (it’s only two and a half minutes) in which Dennis trys to put the housing statistics in some perspective. He makes his points well. If you’re getting foreclosed on it won’t make you feel better. But, if you’re [...]
Filed under: Industry and Economic News, Teles News and Press Releases on August 8th, 2008 | No Comments »
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®
This week, President Bush signed into law the Housing and Economic Recovery Act of 2008. This sweeping legislation primarily seeks to protect homeowners from foreclosure, stop declining home prices, and stabilize the mortgage industry. Major provisions of the new law affecting the real estate practice are as [...]
Filed under: Industry and Economic News, Teles News and Press Releases on August 6th, 2008 | No Comments »
This is our first Condominium report for the Micro Markets we track on the Westside of Los Angeles. Condominiums are a Micro Market in and of themselves and are behaving differently from the single family residence market. Of the Micro Markets we track, several have a very limited condominium market while other areas like Santa [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on July 25th, 2008 | No Comments »
Of the 257 closings this month, 46% sold within the first 30 days of being on the market. There is no disputing the evidence that good homes at a good price are still selling very quickly.
The following micro markets were up in sales activity June 08 vs. June 07: Beverly Hills, Westwood - Century City, [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on July 21st, 2008 | No Comments »
Watching, reading, and listening to news reports of falling prices, building inventories, and an overall sense of doom and gloom in the real estate market contrasts with our current experience in the Micro Markets we track. If you study the numbers closely you will see that little has changed in the year over year numbers [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on June 19th, 2008 | 1 Comment »
The market is still looking to find its footing and gain traction. Consistent with the previous months of this year the Micro Markets that we are following are all experiencing different types of activity.
April’s closed sales volume is the aftermath of the slow flow of new transactions from February and March. Escrows are averaging 30 [...]
Filed under: Industry and Economic News, Micro Market Updates, Teles News and Press Releases on May 21st, 2008 | No Comments »
Today, Monday May 20th, the Wall Street Journal published an article that remarkably mirrors Teles Properties’ “Micro Market” conversation. We have noted repeatedly that neighborhoods do not perform in unison, and not necessarily alike. Today’s article highlights that opinion. There are many local markets that have been hit hard by the credit crises, and there [...]
Filed under: Industry and Economic News, Teles News and Press Releases on May 20th, 2008 | No Comments »
Some economists are starting to talk about an end to the housing crises. The article below by Cyril Moulle-Berteaux was printed in today’s Wall Street Journal. She makes a lucid argument that while the pain is not yet over - the beginning of the end is at hand. We would be interested [...]
Filed under: Industry and Economic News, Teles News and Press Releases on May 12th, 2008 | No Comments »