All The Single Ladies......Are Buying Houses!According to a recent report from the National Association of Realtors, single women made up 16% of homebuyers nationwide, while single men made up 9%.  The percentage of single women homebuyers has averaged at 20% in recent years past.  This has been a growing trend since the 90s, women purchasing more than men.  It stands to reason as more women have become the primary earners in their households.All The Single Ladies......Are Buying Houses!Women are the breadwinners in 40% of American families with children and two-thirds of them are single!  One out of every five homes sold in this country are being purchased by single women, over a three year period the estimated amount in sales is roughly $550 billion!All The Single Ladies......Are Buyi... 08/28/2013

ActiveRain MeetUp Los Angeles was a blast! Our ActiveRain MeetUp Los Angeles was held yesterday at the Cheesecake Factory in the Sherman Oaks Galleria. There were some new faces there, as well as ActiveRain members who have been around a while. We had a great time, and the food was delish! John Pusa - who is a great agent based out of Glendale, CA was there.  Very nice guy.  I enjoy speaking to John when I have the opportunity. Sharon Rollins and Janice Cohen from Keller Williams were there.  LOVE the both of them!  Richard and I have known them for many years from our Prudential days and they are both sweethearts. I met some new people this time around.  Tanya Knowles was there and she shared a little about her company called DaBest Solutions, Inc.  They offer some really great tools f... 08/20/2013

ActiveRain MeetUp Los Angeles!!  You're invited!  Monday, August 19th, 11:30am - Cheesecake Factory, Sherman Oaks It's that time again!  Time to come together and DISH! Not about Liza's weight problem, but about real estate, the market, business in general, and.......oh hell, Liza's weight problem is totally fair game!! I would love to see your lover-ly ActiveRain faces in person!  And what better venue than a great restaurant like the Cheesecake Factory! It's a great central location too, located in the Sherman Oaks Galleria, with abundant parking.  You can get your parking validated by the restaurant.  Right off the 101 and 405 Freeways. Location is:  Cheesecake Factory15301 Ventura Boulevard Sherman Oaks, CA 91403 818-906-0700     LOCATION:Located in the Sherman Oaks Galleria. Plaza ... 08/14/2013

Foreclosures Lowest Since 2006 Another not-so subtle sign of economic recovery.  The national numbers on foreclosures are very promising.  Total foreclosure filings, including notices of default, scheduled auctions and bank repossessions, dropped to 127,790 in June, down 35% over the past 12 months, according to RealtyTrac. Filings have hit their lowest monthly level since December 2006. Foreclosures Lowest Since 2006 The nation number of foreclosures has dropped 14% since May 2013!  Foreclosures are no longer an issue on the national scale.  There are still a few states with higher than average results, but the country as a whole is witnessing this sharp decline.  However, bank reposessions are climbing steadily to more than 420,000 per year.  The national average in years past was onl... 08/09/2013

ActiveRain MeetUp Los Angeles!!  You're invited!  Monday, August 19th, 11:30am - Cheesecake Factory, Sherman Oaks It's that time again!  Time to come together and DISH! Not about Liza's weight problem, but about real estate, the market, business in general, and.......oh hell, Liza's weight problem is totally fair game!! I would love to see your lover-ly ActiveRain faces in person!  And what better venue than a great restaurant like the Cheesecake Factory! It's a great central location too, located in the Sherman Oaks Galleria, with abundant parking.  You can get your parking validated by the restaurant.  Right off the 101 and 405 Freeways. Location is:  Cheesecake Factory15301 Ventura Boulevard Sherman Oaks, CA 91403 818-906-0700     LOCATION:Located in the Sherman Oaks Galleria. Plaza ... 08/05/2013

Supply vs. Demand - New Construction WoesMost of us in the Real Estate business don't often deal with new construction homes.  I'd wager that upwards of 90% of the average agent's business is resale.  (More like 99% personally) But we must take a look at what is happening with the construction of new homes as it'll eventually, if not already, effect comps and the market as a whole.  We all see that the market is beginning to spring back into action.  As a result, the demand for new homes is slowly rising.  We aren't quite back at the level we saw in 2004-2005 when the home building industry was producing over 1.8 million new homes a year, the current annual home building rate is below one million, but slowly rising. Supply vs. Demand - New Construction WoesNow that the market is pickin... 07/17/2013

Rising Rates, Not Always A Bad Thing The Real Estate market is certainly booming.  Depending on where you're at in the Real Estate picture, higher mortgage rates can be a good thing.  While rates were low, so was inventory, it still is, but I've seen a slight increase recently as more sellers realize the price they can get for their home.  People who normally wouldn't be able to finance a home could and are still able to do so as it stands now.  However, rising rates, means an increase in sales.  Which is certainly a good thing!  Luckily the rise in rates isn't too drastic just yet. Rising Rates, Not Always A Bad Thing Of course it's not all good news.  The rise in rates can leave some people out in the cold with the banks.  I've seen this happen in my own business.  Just last week when... 07/01/2013

Issues With Neighbors Can Lead to Decreased Property Value Scary barking dogs, what seems like a used car lot, yard used as storage, no landscaping maintence.....all of these things can lead to bringing the value of your home down.  Guilty by association (or by proximity, really).  So what does one do if they want to sell their house and the value is less than similar comparables in the area as a result of a neighbors lack of care?   Issues With Neighbors Can Lead to Decreased Property Value An article in CNN's Money Magazine from July 2013 addresses this issue.  We've all seen the unkempt, sometimes dilapidated house in an otherwise "nice" or "descent" neighborhood.  These houses pose more of a problem than just an inconvenient eye sore.  Homes of this nature could bring down neighbori... 06/26/2013

Long Way To Go, But The Market Is Looking Good! It's been a strange recovery and it isn't over yet.  Here are a few nationwide factoids that illustrate we are in a good place right now.   - For the first time in a long while, the housing cost-to-income ratio is at 23%, the lowest in 30 years!   (California specific figures however, would be a bit higher)  - 14% of renters moving out these days across the nation are doing so because they are buying property.  This number has been slowly rising since it bottomed out at roughly 11% in 2011.  The job market is making a comeback which in turn is producing qualified buyers that have only been able to rent until now.  - The National average monthly payroll employment growth amount is currently at $165k, whereas April 2012 was $112k.  There hav... 05/30/2013

How Much Does Safety Factor Into the Home Buying Process? A bit of a no brainer, but a recent study shows it can be more important than price to most home buyers.  John Burns Real Estate Consulting conducted a survey of almost 20,000 home buyers and had them rank key factors in making a decision to buy in order of importance.  Safety came in a close third only behind location and home design.  Price was ranked fourth. How Much Does Safety Factor Into the Home Buying Process? As we all have seen the news and felt the changes in our communites, many cities/counties are cutting back on police and emergency responders to save money.  While personally, I think this is the LAST place to cut budget corners, reality says otherwise.  The study also showed a direct corellation between law enforce... 05/13/2013

Buying Within Your Means: Be Prepared!!I recently read a column online that gave some great advice for home buyers; first timers and repeat buyers alike. I will link it below. The most important point that it illustrated is the difference between pre-qualification and pre-approval. Especially when you get to the offer submitting stage, a pre-qual letter from a lender is usually included but it pretty much doesn't mean anything without pre-approval to back it up. In other words, before you ever START house hunting, get PRE-APPROVED. It will only help you with your search by really telling you the highest you can go. Many times you might get pre-qualified for more than you actually get approved for and that can be deceiving to the hopeful buyer. Buying Within Your Means: Be Prepared!!As m... 05/06/2013

Real Estate Market Feeling Kind of Bubbly?For me?  The answer is Yes and No.  While sales are increasing and demand is high right now, it's not like the bubbles of Real Estate past where buyers are purchasing above their means and creating more debt.  Sales may have increased, but so have the amount of cash buyers, or financed buyers with large down payments and sufficient funds to back it up.Real Estate Market Feeling Kind of Bubbly?I've seen it first hand in my own business.  Not only do I represent several cash buyers (not all of them investors either) but many of my listings have had multiple cash offers or 30% plus down payments promised.  Since the price of sales are being driven up by demand, you won't see investors unloading left and right as they are waiting for a moment of opp... 04/26/2013

I'm taking matters into my own hands.....in a BIG way The craziness of the market tends to bring out advantages and disadvantages. Advantages include the obvious such as increased activity, gains in home value, and all the hussle and bussle associated with that. But there are some disadvantages that have occured as a result of us coming out of a depressed market for quite a few years, and that is the greed, nastiness, and compromising of ethics that I'm seeing by a fair percentage of agents. I've found myself having to police my business, during a time when I really don't have the time. And I've had so many agents state that our local association of realtors doesn't really do too much about, or perhaps don't have the capacity or willingness to do so (and their organization dollars come ... 04/21/2013

Just wanted to pass along this link to everyone.  It's a very informative and interactive map posted by the LA Times. Southern California's Housing Recovery: An Interactive Map This is a great tool if you are considering selling and need some more information to help you make your decision! Southern California Housing Recovery This article goes hand in hand with the map: California home prices and sales increase in March Check out both links and comment below! 04/19/2013

Renting or Buying?  Which Will Save You More? The answer to this question really depends on where you are, market conditions, etc.  The California Association of Realtors has compiled information on the monthly cost of buying versus renting in a few major counties in California.  As you can see below, overall, buying is much more beneficial to consumers even when you take property taxes and insurance into account.  On average, buying yields a 32% savings in California!   03/29/2013

Should We Remodel, Or Buy A New House? Many growing families who are finding themselves running out of room or just not happy with the current finishes their home has are now contemplating the age-old question, should we remodel our house or buy a new one? Although prices are beginning to increase, many people are still under water, so even if they feel they need to expand or upgrade, they fear sinking more money into their investment.  On the flip side, shopping for a new home with such limited inventory on the market for sale poses a huge challenge of its own for potential move-up buyers. Should We Remodel, Or Buy A New House? Attractive homes that are priced well are almost always met with a bidding war in this current real estate market.  We have recently had several bidding wars wi... 03/22/2013

FHA and VA Allowable and Non-Allowable Fees:  Close your transactions more smoothly by knowing these in advance FHA Loans and VA Loans have their own set of lender guidlines for real estate transactions.  A good real estate agent will not only be familiar with the terms of the contract that are within those guidelines, but it is also helpful to know some of the the lending guidelines as well, since some of that overlaps on the terms of the contract. Knowing this information will pave the way for a smoother transaction, and will avoid any last-minute underwriting drama for your transaction. I've been able to get through many deals by knowing most of the guidelines in advance. An outstanding escrow officer from Chartwell Escrow, Harlene Dunn, has put together this useful chart for FHA and... 02/10/2013

Dangerous Foreclosure Scams Plague the Unfortunate Homeowner Agents!  Homeowners!  Be informed!  Avoid making a terrible mistake in an effort to save your home! There are many scam artists out there who claim they can help homeowners avoid foreclosure by scouring their loan documents for any mistakes or loopholes that could put a stop to the process.  This "service" comes at a hefty price, upwards of $3,000 at times.  It is up to the consumer to do their part in researching a so-called business that claims it can "help." Dangerous Foreclosure Scams Plague the Unfortunate Homeowner These companies may have official looking material sent to you, but ALWAYS do your research online before even contacting them for more information.  The Better Business Bureau is always a good place to start.... 02/08/2013

It's An Investors World More and more often these days we're seeing investors purchase properties with a quickness.  Inventory is low and demand is getting competitive, especially for the personal home buyer.  I've had several clients get beat out on a reasonable or generous offer by cash investors.  I also represent a few investors as well who are making non-contingent offers with quick cash closings making it nearly impossible for the end-user family to compete!  Even the investors are having to pull out all the stops to compete with each other. It's An Investors World Hedge funds are big in the REO rental and REO rental to own markets right now.  According to the US Department of Commerce, homeownership rates are continuing to decrease.  If you are a seller who has been sitting on th... 02/04/2013

Top Ten Turn-Around Housing Markets of 2012 According to the latest home price report from Trulia.com, the housing market in general has made quite the positive turn in the last year.  It seems it'll only get better at this point.  I thought it would be interesting to share the top ten markets with the most improvement.  This is referencing increases in median home prices from December 2011 to December 2012.  A few here in California, but some other surprising locations as well.   Top Ten Turn-Around Housing Markets of 2012 In my opinion, it's a little scary to see 27% increases as we seek a more balanced market with a long term, steady recovery, not a mini bubble!  My trusted market analyst John Burns, predicts a 21% gain in home values across the US over the next 4 years which is why ... 01/23/2013