Monday, July 24, 2006

Timing the market ?

Q; Will there be lower interest rates ? Nope
We are now at the point where 18 increases in a row have us back to the rates of 2002.

Q; Is the market going down? Nope
The Los Angeles MLS data shows a 10% slowing in the number of homes selling.
And the price trend is for the prices of those homes to still be increasing at 8% to 10%

So staying out on the sidelines may not serve you if you really want to buy a single family home.

For conformation take a look at the lenders. They are still bullish on property values. Making Loans. Offering more programs and products. Not fewer. Not demanding more of buyers. Still offering 100% and 90% loans.

Go Figure. It tells me that the market is still pushing on.

Just the Froth is waning.

I call it the Latte' effect. (c) (tm)

No coffee up in the foam that is up on the top of that expensive coffee. Just the promise of the coffee below. No longer are buyers buying the promise that the market will make up for it later. The real buyer wants real market price. Today's' value.

The current inventory is not going to let sellers get away with overpricing. Like in the last two years of panic buying. Buyers with a professional agent will be ready to negotiate the market prices with confidence. And still be able to buy and be secure in their homes value.

If you are not looking in the Los Angeles area you can still call me to get a referral to a professional who knows your targeted neighborhoods. You would be surprised at the reach or the Boardwalk Realty Relocation Division's ability to introduced you to an quality agent in many places.

Keith Lambert 310-754-8116
Boardwalk Realty

Wednesday, July 19, 2006

Open house at 3351 Cardiff

Had a very nice open house on Sunday for the property at
3351 Cardiff - 3 bedroom and 1 & 3/4 bath

in MLS Area 9 - ie Beverlywood For only $749,000

Lots of interest and plenty of people came by. Now it is Weds and there are agents telling the listing agent that they are writing offers. Going fast.

Figures, as this is a good school district for Elementary and an easy commute to
Beverly Hills.

Let me know if you are looking in this area. Some good options there.

Keith L.

Thursday, July 06, 2006

good view house on Warren in Mar vista

OK - do you caravan on Weds.!?!?

Mostly the local brokers caravan is on Tuesday. But we had the holiday.

So this wise agent put his new listing on caravan on Wednesday. And he did a very good job of pricing it. Only $899,000 and it has a decent view for the 3 bedroom 2 bath house. Most of the 6,161 sqft lot is usable.

Works as a Fixer. Works better if you want a good view and can afford to fix it up.

Email me to get a photo and map.


keith @ <- remove the spaces added to prevent spam.

News from my lending guy… & Happy 4th of July

HAPPY BIRTHDAY TO THE USA…230 YEARS OLD AND LOOKING BETTER THAN EVER! Just think about the past few years - a market crash, recession, terrorist activity and war - yet the US economy still marches onward and upward. In fact, the Fed is watching the economy continue to cook forward, and seems to think it may be too hot. So they did it again, hiking rates for the 17th consecutive time within two years, bringing the Fed Funds Rate to 5.25%. Since the .25% hike was so widely expected, it wasn't much of a market mover on its own - but what was important was the wording of the Policy Statement, saying that "economic growth is moderating...and inflation expectations remain contained...yet the Committee judges that some inflation risks remain."

Translation of the Fed Speak is that inflation remains relatively tame, which was good news for Bonds and therefore home loan rates, improving slightly for the first time in a month.

Last week also brought news on the Housing Sector, with both New and Existing homes showing better than anticipated sales. The inventory supply for new home sales improved to 5.5 months, down from the 5.8 months reported previously, while existing home inventories rose slightly to 6.5 month supply. Another interesting note from the report…the current median sales price of an existing home in the US rose $230,000, up 6% year-over-year.

End clip from the email he sends out.

Rates may taper a little … Message: If you are going to buy do it now or pay more.

Call me to help short out the best one to buy. Mar Vista/Palms Residential or Income Property anywhere in Los Angeles.

Keith Lambert – 310-754-8116

Boardwalk Realty, Marina Del Rey