A great loss to the real estate community

We are saddened to report that Phyllis Rockower passed away on November 5, 2017 after a year-long battle with pancreatic cancer.  Most people did not know, because she was the kind of person who never complained and made no excuses.  She had a zest for life and a passion for real estate, flipping houses right up until the end!

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Southland prices rose 7.5% from last year. 

Housing Market on the Rise

Median rose to 500K. In L.A. prices rose 9.4%to an amazing record . r$580k. Best place to try would be out  of state owners who don’t read the LA Times.

Why? Economy is good, stock market is way up;so people are feeling confident. In addition, we are building way too few houses to meet the demand.

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Harvey’s impact on housing

According to Core Logic, 70% of the houses in Texas are not covered by any insurance. Most people there do not have flood insurance.

One must expect, with dollar losses at the level CoreLogic predicts, there will be a substantial impact on the housing and housing finance industries as well.

Many people will just walk away from their mortgage. Fema money won’t cover the water damage.
So what happens to the banks involved? another melt down? The housing market has gone up so much, people wonder what it would take for another crash. I could not figure out what would do it- but maybe now i can.

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