Why the Next Few Days Could Determine the Strength of the Real Estate Market in 2023

In congressional testimony given by FED chairman Jerome Powell this week, he stated that the FED funds rate is likely to end up higher than previously expected and they are leaving themselves open to a faster pace of rate hikes in the coming months. The most recent rate hike was …

Tomorrow’s CPI Release has Serious Market Implications

As we’ve previously discussed (and a topic that everyone has been hearing about a lot), the United States and the world have been dealing with severe inflation for the last year or so. This is mostly a result of massive stimulus pumped into the economy during the pandemic, including artificially …

How Will the Playa Vista Market Perform in 2022?

Wow! It’s 2022 already?! While last year flew by, the real estate market has continued to soar. Low supply combined with low interest rates have kept it a seller’s market. Playa Vista dusted off its poor showing in 2021 with median prices up close to 15% year over year (December …

Current State of the Playa Vista Market

It has been a wild 2+ years, but all good things must come to an end sooner or later.  Exit the major supply and demand imbalance that has led to 30-40% price increases since the beginning of 2012 and enter market equilibrium.  What a crazy thought that is as we …

My Case for Keeping Fannie and Freddie

Recently President Obama announced he was planning to start winding down loan insurers Fannie Mae and Freddie Mac.   Most of my clients get loans backed by Fannie and Freddie.  Almost all with loan amounts under $625,000 – I personally have three of them.  While I appreciate free market economics, I …

Increasing Inventory Will Test Market Strength

Rapid price increases over the past 9 months in Playa Vista have brought a lot of would-be sellers off the fence in recent weeks.  The number of homes for sale in Playa Vista has gone from a low of 9 in February to 22 as of today.  Prices rising over …

Holidays to Start Early for Potential Playa Vista Sellers, Buyers: “Memo Not Received”

Having recently been through three multiple offer situations for one buyer client and finally securing the third and best property over the weekend, it is clear that this is not a healthy real estate market.  Sellers have not been in a position of power like this in 7 years and …

Supply and Demand Issues and Implications for Playa Vista Buyers and Sellers

The title of this post seems like the title for a dissertation.   There is certainly plenty to write on the subject, however this will be a synopsis of the issues as I realize this blog post is meant to be interesting as well as informative. As you may know, there was a …

Major Lenders Underwhelm in Customer Service

On two recent listings, I have been dismayed at the customer service of two major lenders that were obtaining financing on behalf of the buyer, the tweedle dumb and tweedle dumber of residential lending, Wells Fargo and Chase. On the Wells Fargo transaction, the buyer requested a 45 day escrow …

Interest Rates Need To Go Up

At this point the government has done all they can to stimulate housing and they have done a good job.  Financial incentives for buyers, encouraging banks and underwater homeowners to do short sales, refinances and principal reductions to prevent some foreclosures.  Great job, gov’t, but we need to take a step back and …

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