WISHING YOU HAPPY HOLIDAYS THIS SEASON! THANK YOU FOR ALL YOUR SUPPORT THIS YEAR AND WISHING YOU A VERY HAPPY NEW YEAR TOO!
All the Best,
Jerry & Rachel
Jerry & Rachel Hsieh Real Estate Team - Keller Williams Realty in Los Angeles
IF YOU WANT THE LATEST INFORMATION ON THE LOCAL LOS ANGELES REAL ESTATE MARKET, FOLLOW THIS BLOG! FEEL FREE TO SEND OUR TEAM A REQUEST FOR ANY PROPERTY ON THE MARKET YOU'D LIKE TO VIEW BY CALLING US AT 310.623.1359. Our Cell: 424.242.8856 Email: jerryandrachel@newhomesLA.com DRE #: 01701809
Monday, December 19, 2011
Thursday, November 10, 2011
Los Angeles Home Prices and Home Values - 11/10/11
Hey everyone!
We just saw this graph on Zillow today and wanted to share it with you.
Email us at info@newhomesla.com if you'd like to view other search areas of interest!
We just saw this graph on Zillow today and wanted to share it with you.
Email us at info@newhomesla.com if you'd like to view other search areas of interest!
Monday, October 3, 2011
LA MORTGAGE UPDATE: "U.S. MORTGAGE RATES HIT RECORD LOW"
U.S. MORTGAGE RATES HIT RECORD LOW
The average rate for a 30-year fixed loan dropped to 4.01%, the lowest level in Freddie Mac records. This comes after the Federal Reserve announced a plan to reduce borrowing costs even further.
The average rate for a 30-year fixed loan dropped to 4.01%, the lowest level in Freddie Mac records. This comes after the Federal Reserve announced a plan to reduce borrowing costs even further.
By Bloomberg News
September 29, 2011 11:11 a.m.
(Bloomberg) - Mortgage rates in the U.S. fell to the lowest level in Freddie Mac records after the Federal Reserve announced a plan to reduce borrowing costs even further.
The average rate for a 30-year fixed loan dropped to 4.01% in the week ended Thursday from 4.09%, Freddie Mac said in a statement. That's the lowest in the McLean, Va.- based company's records dating back to 1971. The average 15-year rate declined to 3.28% from 3.29% last week.
Yields on 10-year Treasuries, a guide for consumer loans, touched the lowest level in more than a half-century, after the central bank said on Sept. 21 that it would begin a program aimed at boosting the economy and lowering mortgage rates. The effort, called Operation Twist, would replace shorter-term securities in the Fed's portfolio with longer-term debt. Policymakers also plan to support the home-loan market by reinvesting maturing housing debt into mortgage-backed securities.
“Mortgage rates have fallen some ways already, but they probably haven't fully caught up with the decline in the 10-year Treasury,” said Paul Dales, senior U.S. economist at Capital Economics Limited. “It's possible the effects of Operation Twist will drag 10-year yields down further, thereby weighing on mortgage rates more.”
The gap, or spread, between the average 30-year fixed mortgage rate and the benchmark 10-year Treasury yield widened to 2.26 percentage points last week, the biggest gap since 2009, according to data compiled by Bloomberg. If the spread matched the gap of 1.17 percentage points in February, the 2011 low, home-loan rates now would be close to 3%.
Homeowners are taking advantage of low borrowing costs to reduce their monthly payments. A Mortgage Bankers Association index of refinancing rose 11% in the week ended Sept. 23. The Washington-based trade group's purchase gauge increased 2.6%.
Declining interest rates have done little to stimulate the U.S. housing market as the unemployment rate sticks above 9% and lenders tighten credit. The number of contracts to purchase previously owned homes fell 1.2% in August, following a 1.3% decline the previous month, according to a National Association of Realtors index released Thursday.
Record-low borrowing costs “are only a marginal support right now,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. “Mortgage credit is still tight and secondly, on the demand side, households are concerned about the job market and falling house prices.”
The S&P Case-Shiller index of home values in 20 U.S. cities decreased 4.1% in July from a year earlier, the group reported Sept. 27.
Purchases of new houses fell in August to a six-month low, Commerce Department data showed this week. Sales of previously owned homes that month rose to a five-month high, boosted by demand for lower-priced distressed properties, the National Association of Realtors said Sept. 21. The median price dropped to $168,300 from $177,300 in August 2010.
Source: www.crainsnewyork.com
Tuesday, August 23, 2011
Picfair Village & Faircrest Heights Home Sales Update: August 2011
Hi All-
Here is the full list of homes sold and new on market for August 2011 in Picfair Village/Faircrest Heights:
New Listings
1486 Stearns Drive - 2BR/1BA - $649,000
1806 S. Orange Grove - 4BR/3BA - $915,000
1841 S. Point View St - 3BR/1BA - $639,000
1632 S. Stanley Avenue - 2BR/2BA - $525,000
5980 Pickford Street - 2BR/1BA - $599,000
1636 Ellsmere Ave - 2BR/1BA - $469,000
1943 S. Point View St - 3BR/2BA - $590,000
In Escrow
1623 Carmona Avenue - 2BR/2BA - $489,000
1551 S. Orange Grove Ave - 2BR/1BA - $539,000
1922 S. Point View St - 2BR/2BA - $587,000
1646 Stearns Drive - 4BR/2BA - $829,950
1637 S. Hayworth Ave - 3BR/2BA - $699,900
1958 S. Crescent Heights Ave - 2BR/1BA - $589,000
1625 S. Sierra Bonita Ave - 2BR/2BA - $599,000
SOLD
1789 S. Fairfax Ave - 2BR/2BA - $452,000
1856 S. Hayworth Ave - 3BR/1.5BA - $560,000
1731 S. Hayworth Ave - 3BR/2BA - $570,000
1749 S. Orange Grove Ave - 4BR/2BA - $535,000
For further details about any of these properties or for a free market evaluation of your own home, feel free to call me anytime on my cell at 310-228-8856.
-Jerry
Here is the full list of homes sold and new on market for August 2011 in Picfair Village/Faircrest Heights:
New Listings
1486 Stearns Drive - 2BR/1BA - $649,000
1806 S. Orange Grove - 4BR/3BA - $915,000
1841 S. Point View St - 3BR/1BA - $639,000
1632 S. Stanley Avenue - 2BR/2BA - $525,000
5980 Pickford Street - 2BR/1BA - $599,000
1636 Ellsmere Ave - 2BR/1BA - $469,000
1943 S. Point View St - 3BR/2BA - $590,000
In Escrow
1623 Carmona Avenue - 2BR/2BA - $489,000
1551 S. Orange Grove Ave - 2BR/1BA - $539,000
1922 S. Point View St - 2BR/2BA - $587,000
1646 Stearns Drive - 4BR/2BA - $829,950
1637 S. Hayworth Ave - 3BR/2BA - $699,900
1958 S. Crescent Heights Ave - 2BR/1BA - $589,000
1625 S. Sierra Bonita Ave - 2BR/2BA - $599,000
SOLD
1789 S. Fairfax Ave - 2BR/2BA - $452,000
1856 S. Hayworth Ave - 3BR/1.5BA - $560,000
1731 S. Hayworth Ave - 3BR/2BA - $570,000
1749 S. Orange Grove Ave - 4BR/2BA - $535,000
For further details about any of these properties or for a free market evaluation of your own home, feel free to call me anytime on my cell at 310-228-8856.
-Jerry
Tuesday, May 10, 2011
Wednesday, April 20, 2011
April 2011 Median Home Sales for Los Angeles
Hi Everyone-
Sorry it's been a couple months since I posted. Here are the median sales stats from our MLS with latest MLS stats for 2011.
Jerry
310-228-8856
Sorry it's been a couple months since I posted. Here are the median sales stats from our MLS with latest MLS stats for 2011.
Jerry
310-228-8856
Friday, February 25, 2011
Owners and Renters Agree: Owning a Home Is a Smart Decision
A substantial majority of both homeowners and current renters agree that owning a home is a smart decision over the long term. Thats according to the results of a National Association of REALTORS survey of 3,793 adults conducted online by Harris Interactive.
The American Attitudes About Homeownership survey found that in todays challenging economy, 95% of owners and 72% of renters believe that over a period of several years, it makes more sense to own a home. In addition, an overwhelming majority of homeowners are happy with their decision to own a home93% of owners surveyed would buy again.
Homeowners and renters agree that homeownership benefits individuals and families, strengthens our communities, and is integral to our nations economy, said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. The results of this survey illustrate just how important issues related to homeownership are to people in this country.
The survey uncovered some differences between homeowners and renters, as well. While more than half of owners are very or extremely satisfied with the overall quality of their family life, only one-third of renters report the same levels of satisfaction. Similarly, 43% of homeowners are very/extremely satisfied with their community life, compared with 30% of renters.
A majority of renters63%said it was at least somewhat likely that they would purchase a home at some point in the future. Among this group, young adults (18-29 years old) have the strongest aspirations for homeownership; only 8% of young adults said that it was not at all likely that they would purchase a home at some point in the future.
In todays market, many aspiring homeowners are faced with worries about job security and creditworthiness. Among renters who are very or extremely likely to buy a home in the future, three out of five consider confidence in job security and creditworthiness to be an obstacle. One point of agreement between renters and homeowners was support of the mortgage interest deduction (MID). Seventy-four percent of owners and 62% of renters say its extremely or very important that the MID remain in place.
At a time when the middle class is under increasing economic pressures, both homeowners and renters agree that the mortgage interest deduction should not be targeted for change, said Phipps. Given strong public support of and aspirations toward owning a home, we need to keep policies in place that support and encourage responsible, sustainable homeownership for our future.
This survey was conducted online within the U.S. and fielded October 6-20, 2010. A total of 3,793 adults 18 and older were surveyed, including 1,880 home owners, 1,115 renters, and 798 young adults. All samples came from the Harris Poll online database and were weighted for age, sex, race/ethnicity, education, region and household income to be representative of the U.S. general population of adults 18 and older. Propensity score weighting was also used to adjust for respondents propensity to be online.
For more information, visit www.realtor.org.
Jerry and Rachel Hsieh Realtors is a family-run, neighbor-centric team that is friendly and available! If you would like us to follow up with you, please call us at 310-228-8856 or jerry@kw.com and someone will touch base with you usually within 4 hours.
The American Attitudes About Homeownership survey found that in todays challenging economy, 95% of owners and 72% of renters believe that over a period of several years, it makes more sense to own a home. In addition, an overwhelming majority of homeowners are happy with their decision to own a home93% of owners surveyed would buy again.
Homeowners and renters agree that homeownership benefits individuals and families, strengthens our communities, and is integral to our nations economy, said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. The results of this survey illustrate just how important issues related to homeownership are to people in this country.
The survey uncovered some differences between homeowners and renters, as well. While more than half of owners are very or extremely satisfied with the overall quality of their family life, only one-third of renters report the same levels of satisfaction. Similarly, 43% of homeowners are very/extremely satisfied with their community life, compared with 30% of renters.
A majority of renters63%said it was at least somewhat likely that they would purchase a home at some point in the future. Among this group, young adults (18-29 years old) have the strongest aspirations for homeownership; only 8% of young adults said that it was not at all likely that they would purchase a home at some point in the future.
In todays market, many aspiring homeowners are faced with worries about job security and creditworthiness. Among renters who are very or extremely likely to buy a home in the future, three out of five consider confidence in job security and creditworthiness to be an obstacle. One point of agreement between renters and homeowners was support of the mortgage interest deduction (MID). Seventy-four percent of owners and 62% of renters say its extremely or very important that the MID remain in place.
At a time when the middle class is under increasing economic pressures, both homeowners and renters agree that the mortgage interest deduction should not be targeted for change, said Phipps. Given strong public support of and aspirations toward owning a home, we need to keep policies in place that support and encourage responsible, sustainable homeownership for our future.
This survey was conducted online within the U.S. and fielded October 6-20, 2010. A total of 3,793 adults 18 and older were surveyed, including 1,880 home owners, 1,115 renters, and 798 young adults. All samples came from the Harris Poll online database and were weighted for age, sex, race/ethnicity, education, region and household income to be representative of the U.S. general population of adults 18 and older. Propensity score weighting was also used to adjust for respondents propensity to be online.
For more information, visit www.realtor.org.
Jerry and Rachel Hsieh Realtors is a family-run, neighbor-centric team that is friendly and available! If you would like us to follow up with you, please call us at 310-228-8856 or jerry@kw.com and someone will touch base with you usually within 4 hours.
Friday, January 14, 2011
Wilshire Vista Home Sales Update - Jan 2011
Dear Neighbors-
Here is the full list of homes sold and new on market for Dec 2010 through the first 2 weeks of 2011 in Wilshire Vista:
New Listings
1340 Hauser Blvd - 3BR/2BA - $535,000
In Escrow
1132 S. Curson Ave - 3BR/3BA - $895,000
SOLD
1203 S. Spaulding Ave - 3BR/2BA - $570,000
1308 S. Stanley Ave - 3BR/4BA - $1,125,000
1246 Hauser Blvd - 2BR/2BA - $699,000
1145 S. Curson Ave - 3BR/2BA - $845,000
1200 Hauser Blvd - 3BR/2BA - $700,000
1243 S. Sierra Bonita Ave - 3BR/2BA - $560,000
1159 S. Sierra Bonita Ave - 3BR/2BA - $800,000
1332 S. Orange Grove Ave - 3BR/2BA - $999,000
For further details about any of these properties or for a free market evaluation of your own home, feel free to call me anytime on my cell at 310-228-8856.
-Jerry
Here is the full list of homes sold and new on market for Dec 2010 through the first 2 weeks of 2011 in Wilshire Vista:
New Listings
1340 Hauser Blvd - 3BR/2BA - $535,000
In Escrow
1132 S. Curson Ave - 3BR/3BA - $895,000
SOLD
1203 S. Spaulding Ave - 3BR/2BA - $570,000
1308 S. Stanley Ave - 3BR/4BA - $1,125,000
1246 Hauser Blvd - 2BR/2BA - $699,000
1145 S. Curson Ave - 3BR/2BA - $845,000
1200 Hauser Blvd - 3BR/2BA - $700,000
1243 S. Sierra Bonita Ave - 3BR/2BA - $560,000
1159 S. Sierra Bonita Ave - 3BR/2BA - $800,000
1332 S. Orange Grove Ave - 3BR/2BA - $999,000
For further details about any of these properties or for a free market evaluation of your own home, feel free to call me anytime on my cell at 310-228-8856.
-Jerry
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