Rates for conforming loans are now under 5.0%. Now is the time to buy. Jumbo rates are now as low as 6.25%
The OVERALL MARKET TREND indicates a greater disparety in Average list price and Average sold price.
The list price has risen during the last 12 months while the sold price has decreased.
This reflects sellers view that their property is valued at more than what the market dictates.
Based on statistics from TheMLS for single family homes showed a slight decrease of 4.55% when comparing the Median price of YTD 2007=$2,200,000 and YTD 2008=$2,100,000.
The very high end market is showing signs of slowing in sales volume and activity. The entry level single family home sales is very hot with many well priced properties selling in less than 10 days at over asking prices.
Condominiums showed an decrease of 3.93% when comparing the Median price of YTD 2007=$717,500 and YTD 2008=$690,000.
There are several new condominium developments that have instituted a leasing campaign rather selling the units due to the saturation in the market place.
For more information on market trends call me at 1-310-979-3950
ZIP Code: 90049 Location Characteristics: The Brentwood area of Los Angeles has a population characterized by young professions and corporate executives. There are several exclusive neighborhoods like Brentwood Park and Brentwood estates as well as a smattering of condominiums in a broad price range.
About Franklin Kanae Farinas:
Franklin Kana'e Farinas began his real estate career in Hawaii where he represented clients in some of Hawaii's premier condominium buildings including Mott-Smith Laniloa, Rainbow Place and Kamaole Sands in Maui to name a few.
Migrating to Los Angeles in the 1980's Franklin found himslef at the doors of Jon Douglas Company, predecessor of Coldwell Banker where he became involved it its New Homes & Condominium Division.
Having marketed more than 40 projects and 900 units, Franklin has the unique ability of understanding developers', buyers' and sellers' wants and needs and has gained invaluable knowledge of condominiuims and townhomes in the Los Angeles communities of Westwood, Brentwood, West Los Angeles and the cities of Santa Monica, Beverly Hills and West Hollywood.
Franklin is an Associate Broker and holds the prestigious National Association of Realtors "Graduate, Realtor's Institute" designation as well as Senior Director, New Homes Division for Coldwell Banker.
He is also a Certified Speciaist with Cartus Global Relocation Management and represents clients from America's major corporations as well as those in military service.
While condominiums and townhomes are Franklin's speciality he also represents clients of single family homes, income and commerical properties.
Check his website to see a few examples of properties he has represented.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
