Monday, September 25, 2006

Market is working and moving up.

Just moving up a little slower. Great time to be a buyer. Panic is over. Pick the place you want to live and a market price can be negotiated.

Just for back up I want to offer this information from Veros Real Estate solutions. It has great info for Mortgage and Real Estate businesses. So here it is again for you, my potential client.

Veros Forecasts Nation’s 10 Hottest and Coldest Markets
JUNE 30, 2006 – Veros has released the results of its quarterly forecasting of the nation’s real estate markets, revealing the top 10 hottest and coldest markets for the next 12 months…. (edit) its automated home valuation analytics are highly accurate and dependable.

According to Veros, the ten markets in its coverage area that will see the greatest home price appreciation over the next 12 months, along with the expected appreciation rate will be: Seattle, 11%; San Bernadino County, Calif., 9%; Jacksonville, 9%; Raleigh/Durham, 8%; Tampa, 8%; Tucson, 7%; Riverside County, Calif., 7%; Oakland, 7%; Los Angeles, 7%; and Nashville, 7%.

The markets that show the least home price appreciation over the next 12 months are expected to be: Rochester, -4%; Worchester, -2%; Sacramento, -2%; Memphis, -1%; Dayton , -1%; Grand Rapids, 0%; Boston, 0%; Cleveland, 0%; Detroit, 0%; and Fall River, MA, 0%. Veros Vice President of Technology Eric Fox presented the material at PMC 2006 in Dana Point, Calif. “We expect some home price appreciation on the hot market side, but nothing compared to what we’ve seen in the past. There are no 25%-plus markets in our projections. Appreciation is slowing way down.” Fox compared Veros’ predictions from April 2005 for the period Q205 through Q106 to actual home appreciation measured in the 10 hot and cold markets the company identified at that time. The projections made at the time proved to be very accurate. Using a typical measure used by statisticians to measure forecasting accuracy, R-squared, Veros scored 0.68 out of 1.0, indicating that nearly 70% of the variation in the results had been accurately predicted. Performing the same analysis on the results from the predictions made in April 2004 yielded an R-squared of 0.78. The prediction made in April 2003 yielded a 0.65.


Looks good for the local Los Angeles area. Appreciatiion of 7% per year means it is still a good time to buy.

Let me know what you think of that.

Keith Lambert


Wednesday, September 20, 2006

Westside happenings... why Palms is a cool area

Here is an example of why the palms area is a cool area.

Westside Village Festival
Date: Saturday, October 7th
Time: 12- 3 pm
Event: Third Annual Westside Village Fall Festival
Location: St. John's Church @ 11000 National Blvd.
Description: Sponsored by the Westside Village Civic Association, activities include Food, Pony Rides, Petting Zoo, Moonbounce, Karaoke, Face Painting/Tattoos, Local Artists, Fire and Police Departments, Meet your Block Captain, and More

This event is free for Westside Village Civic Association members,
and only $10 per family for non-members.

So if you are in the area check it out. If you want to be in the area let me know. There are a few very good and well priced homes in that area. The Schools are good. And some homes have views. It has easy access to most of the westside and is great if you work in Century City or Beverly Hills.

Keith. 310-754-8116

PS there is a nice 2+1 home for lease in Santa Monica for just $2500 per month.