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Signs of Seller Capitulation in the Los Angeles Market: Is The Bust (Finally) Over?

According to Forbes.com and Radar Logic, a New York-based data provider, sales of non-distressed Los Angeles properties are up 6% from a year ago and now make up 58% of all transactions. The same article reports that L.A. houses were recently going for $236 a square foot on average, down 25% from March 2008. What do these statistics mean? Certainly, more sellers have given up on unrealistic price... [Read more]

The New Real Estate Feeding Frenzy – Are You A Shark or A Minnow?

The last investor-friendly house we looked at was a fixer in West Hills. Within a couple of days of it hitting the market, it had attracted 8 offers. I’m confident it will sell for well over asking price. No wonder that the San Fernando Valley Business Journal reported on May 11, 2009 that “first time homebuyers and investors are snatching up an increasing number of homes in the San Fernando... [Read more]

Is this the “Golden Age” for First Time Homebuyers?

“Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.” So says the New York Times. Something tells me that a lot of potential homeowners aren’t thinking this way. Perhaps, instead, you feel that it would be completely nuts... [Read more]

The FHA’s “Anti-Flipping” Rule and Dorothy, the Wannabe First Time-Homebuyer.

Once upon a time, there were fantastic loans widely available that were backed by government “FHA” insurance. Down payments as low as 3.5% were made available to encourage homeownership by The Wizards of Oz, and homebuyers flocked down the path of golden bricks. All was well in the land of first time buyers until the Wicked Witch of the East decided to throw a flying monkey wrench into... [Read more]

Don’t Be Surprised By a Bad Credit Report!

First things first – you need to know what your current credit report looks like. You have a legal right to a free credit report only once a year from the three credit reporting agencies. However, many smart people check just one of the three every four months (spaced out) to keep from being surprised at the end of the 12 month period by a bad credit report. Here’s how to get your report (courtesy... [Read more]

The Sky is Falling – Lock In Your Thirty Year Fixed Rate Financing Now!

Is the U.S. getting ready for a dose of “good, old-fashioned inflation?” It sure is starting to look that way. Bloomberg reports that billionaire investor Warren Buffet recently said: “A country that continuously expands its debt as a percentage of GDP and raises much of the money abroad to finance that, it’s going to inflate its way out of the burden of that debt.” Who was he talking... [Read more]

How Many Trillion [of your] Dollars Will it take to put Humpty Dumpty Back Together? And What Can You Do About It?

Do you know how much a trillion dollars is?  Admittedly, it is kind of hard to fathom.  According to NASA : One trillion is written as the number “1″ followed by 12 zeros (1,000,000,000,000). One year of clock time = (60sec/min) x (60 min/hr) x (24 hr/da) x (365.25 da) = 3.16 x 107 sec One trillion seconds of ordinary clock time = ( 1012 sec)/( 3.16 x 107 sec/yr) = 31,546 years! Six trillion... [Read more]

The Flip is Dead! Long Live the Flip! (Flipped Properties Are Selling Again In The San Fernando Valley In 2009)

Let’s face it: America had a bad case of flipping fever over the last few years. I’ll admit to enjoying watching more than my fair share of such classics as “Flip that House” (not to be confused with “Flip this House, ” under any circumstances), “Flipping Out “, “Real Estate Pros “, etc., etc. A lot of these focussed on everyday people... [Read more]

Bidding wars on foreclosures? What does the future hold? Investors want to know!

Yes, according to the Wall Street Journal and local brokers, bidding wars are breaking out over REO properties. Certainly there is a lot of money on the sidelines, and investors are getting ready to snatch up the best deals. Some investors are aggressively pursing deals right now. However, the New York Times reported on 4/22/09 that “Fannie Mae, like many banks, is inundated with foreclosed properties.... [Read more]

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