Posts Tagged ‘Interest Rates’

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 have been going through dramatic boom […]

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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 think Fannie and Freddie are […]

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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 15% in less than a […]

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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 now wield their long-relinquished power […]

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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 higher percentage of distressed properties […]

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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 which was agreed to by […]

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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 cut housing from the proverbial […]

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