California November 2013 Home Sales

graph-for-market-reportAn estimated 33,429 new and resale houses and condos sold statewide last month. That was down 8.3 percent from 36,468 in October, and down 10.8 percent from 37,481 sales in November 2012, according to San Diego-based DataQuick.

November sales have varied from a low of 25,578 in 2007 to a high of 60,326 in 2004. Last month’s sales were 15.1 percent below the average of 39,357 sales for all the months of November since 1988, when DataQuick’s statistics begin. California sales haven’t been above average for any particular month in more than seven years.

The median price paid for a home in California last month was $360,000, up 0.8 percent from $357,000 in October and up 23.7 percent from $291,000 in November 2012. Last month was the 21st consecutive month in which the state’s median sale price rose year-over-year, and the 12th straight month with a gain exceeding 20 percent.

In March/April/May 2007 the median peaked at $484,000. The post-peak trough was $221,000 in April 2009.

Of the existing homes sold last month, 6.8 percent were properties that had been foreclosed on during the past year. That was up from a revised 6.7 percent in October and down from 16.9 percent a year earlier. Foreclosure resales peaked at 58.8 percent in February 2009.

Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 12.3 percent of the homes that resold last month. That was down from an estimated 12.4 percent the month before and 26.2 percent a year earlier.

The typical monthly mortgage payment that California buyers committed themselves to paying last month was $1,418, up from $1,395 the month before and up from $1,026 a year earlier. Adjusted for inflation, last month’s payment was 38.4 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 50.1 percent below the current cycle’s peak in June 2006. It was 54.5 percent above the February 2012 bottom of the current cycle.

DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

Indicators of market distress continue to decline. Foreclosure activity remains well below year-ago and peak levels reached in the last five years. Financing with multiple mortgages is low, while down payment sizes are stable, DataQuick reported.

If you’re considering selling your home in the next few months and would like to know what your South Bay home is worth, whether you live in one of our Beach Cities, Torrance, Redondo Beach or any South Bay area, please contact me anytime at (310)918-5027 or click here to get a Free online home value report, delivered to your e-mail.

Source: DataQuick; DQNews.com

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Short Sale


WHAT IS A SHORT SALE?

Foreclosure on a home has consequences for the family, the community, the housing market, and the economy.  However, the option for a short sale provides a way for troubled homeowners to prevent foreclosure and many of the dire penalties involved.
Short sale is an agreement with your lender, in which the lender agrees to accept a payoff on the loan for less than the balance.  Many lenders agree to a short sale because they receive more of the loan balance if the property ended up in the foreclosure.  The short sale process also aides in maintaining home values in the community and helps the homeowner maintain a better credit when compared with the foreclosure.   In most instances, homewners considering a short sale must meet certain criteria the lenders set, such as you will have to provide evidence of economic hardship and you must be behind in mortgage payments.
Short sale is not a typical real estate transaction.  There are many parties involved in a short sale.  The short sale process can be difficult to complete without a qualified Realtor to guide you and act as a liason between all  parties involved.  Homeowners considering a short sale should also consult their tax advisors and obtain the professional advise of an attorney to protect themselves from any future claims from their lender or the IRS.
HOW TO AVOID FORECLOSURE?
Facing foreclosure is extremely difficult.  Finding hope and solution can be hard  when you’re behind with your payments and your lender does not seem provide you with any assistance.  There are options and solutions that can help you prevent foreclosure.
Please contact Krystyna Baty at 310.918.5027 or via email at info@isellsouthbay.com for a Free and confidential consultation.  Any communication with our team will be kept in strict confidence.
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Selling Your South Bay Home

Information for South Bay Home Sellers

For quality service on your next South Bay property sale, consider working with The Krystyna Baty Team at Century 21 Amber Realty.  As your seller’s agency we can manage the entire sales process, from listing to negotiations and closing paperwork. We’ll also market your home online so buyers anywhere can easily access it. With our professional assistance, you can relax and get ready to re-invest. Please call (310)918-5027 to schedule Free consulation or to get a Free home evaluation.  Below are the highlights of our proven Marketing Plan –

 

We are committed to selling your property:

  • For the best possible price
  • In the shortest period of time so you get where you want to go on time
  • With the least amount of stress for you
In order to receive top dollar, you need top exposure. Our proven marketing plan provides you with that top exposure.

This includes:

  • Listing your home on the Multiple Listing Service across Southern California

  • Assistance in staging your home for a quick and profitable sale

  • Conduct a multi-channel marketing campaign:

  • Web Marketing: Because over 80% of buyers start their property search online. It’s particularly true her in the South Bay Los Angeles area where many buyers come form out of state.  Your listing will appear on multiple national and international websites to give you 24- hour-exposure.  This aggressive online approach will greatly differentiate you from your competition and bring your property exposure to millions of home buyers every month! Strong advertising dollar is consistently spent to give your property maximum exposure on Google, MSN, Yahoo, AOL search engines

  • Unique website for your home for additional internet exposure and easy access for prospective buyers, such as www.123MainStreet.com
  • Utilize digital photos and online virtual tours and videos
  • Consistently email your listing information to local real estate agents and our Team’s entire database of past clients, buyers and sellers.
  • Conduct print and direct mail advertising
  • E-cards and flyers to potential buyers
  • Installation of a “For Sale” sign
  • Custom property profile flyer
  • Installation of a lockbox
  • Public Open House events – exposing your home to potential buyers
  • Telemarketing to neighbors and potential prospects
  • Weekly status report
  • Verbal feedback provided from showings

 FOR A FREE CONSULTATION PLEASE CONTACT KRYSTYNA BATY – YOUR LOCAL CENTURY 21 EXPERT AT (310) 918-5027 OR VIA E-MAIL AT INFO@ISELLSOUTHBAY.COM

 

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