Real estate market update
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Notice of Default

[highlight bg=”#fff199″ color=”#000000″]What’s the real estate market doing now?[/highlight]

Lots of contrasting trends. On one hand,Notices of default are up 39% .

But houses actually getting foreclosed on fell 28% from the prior quarter as short sales are becoming more common. Actual foreclosures fell 55% from last year. Default notices are more common in the lower areas= under 200k.

The median price in Southern California rose 28% in June from a year ago-most since statistics have been gathered. That puts it at $385,000 up from $300 last June. At the peak it was $505 so we have room to go.

The LA Times gives a monthly chart of prices by zip code and change from 2012.

[note color=”#fff199″][label style=”important”]YOU MUST SEE THIS[/label] Some areas are up over 75%. Remember averages are averages. There are many far above. You can view this chart by logging on to dqnews.com and check out the LA Times chart. text[/note]

All this is giving cash investors 2nd thoughts about buying at any price. The higher prices reduce their return on investment . That is good for us because they are the elephant in the room distorting everything.

If  you willing to work hard, your return is amazing. If you are not willing to work at it, you won’t find anything. You can’ at simply go to the MLS anymore. You have to learn how to find your own deals.

What’s the real estate market doing now?

Lots of contrasting trends. On one hand,Notices of default are up 39% .

But houses actually getting foreclosed on fell 28% from the prior quarter as short sales are becoming more common. Actual foreclosures fell 55% from last year. Default notices are more common in the lower areas= under 200k.

The median price in Southern California rose 28% in June from a year ago-most since statistics have been gathered. That puts it at $385,000 up from $300 last June. At the peak it was $505 so we have room to go.

The LA Times gives a monthly chart of prices by zipcode and change from 2012.YOU MUST SEE THIS. Some areas are up over 75%. Remember averages are averages. There are many far above. You can view this chart by logging on to dqnews.com and check out the LA Times chart.

All this is giving cash investors 2nd thoughts about buying at any price. The higher prices reduce their return on investment . That is good for us because they are the elephant in the room distorting everything.
[quote style=”3″]If you willing to work hard, your return is amazing. If you are not willing to work at it, you won’t find anything. You can’ at simply go to the MLS anymore. You have to find your own deals.[/quote]


Florida Real Estate
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Interesting. Just got back from Palm Beach County and they lead the nation in real estate price increase last year. They were up 35%. That is suspicious because it is a judicial foreclosure state which means it has to go through the courts. Not like California real estate foreclosure which has a trust deed system. There is no court approval needed here. It just goes through the system- 90 days for notice of default and then 21 days from notice of sale until actual sale. Because of the court approval needed, Palm beach cty has a 4 month inventory and we only have a 30 day inventory. Their market might be hot but is is no where as hot as ours is. Still interesting. Maybe i should be bi-coastal.

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What to do with equity
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I put this on my blog; my facebook and my email list because I think it’s so important.

Since I come from a family of attorneys, I am always worried about, “what if”.  I try to look ahead so that I try to minimize any possibility of legal hassles. One bad deal can erase a bunch of good deals and can cause major damage. I always try to avoid trouble- especially when dealing with someone in foreclosure.

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