California Real Estate market changing

Less distressed home sales;fewer investors;cool down in prices will characterize the California real estate market for 2014.

The California Association of Realtors predicts home sales rising by 3.2%; and Home prices to rise 6%. This is more like a normal markets- not 24% increase like we saw from 2012 to 2013.

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More evidence that the real estate market trend has changed

As they say in the stock market, “The trend is your friend” Be aware of changing trends. Cut out articles that talk negatively about real estate and include them in your offers and conversations with sellers. Let them know that they are nto oging to make more money by waiting- in fact they will get less.

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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]


High-end Real Estate Market sizzles
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Wow- So much for south central properties. The number of houses selling for more than 5 mill reached an all time high last year. -even more than in the height of the real estate bubble. Houses selling for more than 1 million were as high as in 2007.

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More evidence that the real estate market is rigged
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Article from the San Francisco Chronicle:

“Right now the dominating force driving the rental market in California is foreclosed-upon former homeowners transitioning to renters,” Burke said. “That demographic is an important market segment for us.”

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