David White South Bay (LA) Newsletter

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JULY 2013 FEATURED PROPERTIES Interest rates may have risen over the past weeks, however, they are still at historical lows as you will see from the NAR chart tracking 30 year fixed rate loans below since 1983. According to the National Association of Realtors, forty-five percent of all homes sold in May were on the market for less than a month. The median time on the market is the shortest since monthly tracking began in May 2011.   The statewide median price increased by 31.9% to $417,350 over the 12 months ending in May. May marked the fifteenth consecutive month to post a year-over- year increase in median price, and was the largest year-over-year gain recorded in at least 33 years.*   Please take time to review the information on our local sales.   Should your plans include real estate purchase and sales, please call or email with questions - and as always, thanks for your referrals!   *Source: e-EDGE June 24, 2013  David White Office: 310-546-7611 ext. 398 Cell: 310-916-1533 BRE # 01357398 Email Me My Website   30 Year History of 30 Year Fixed Rates* Even though rates have increased slightly NOW is still the time to take advantage of some of the lowest rates in the last 30 years and take advantage of the opportunity to once again participate in predicted appreciation of real property.   Source: Grant Norris / RPM Mortgage       Housing Data Wrap-Up: June 2013 - Rising Mortgage Rates are Unlikely to Derail the Housing Recovery    By: Mark Vitner, Senior Economist / Anika R. Khan, Senior Economist / Sara Silverman, Economic Analyst Rising Mortgage Rates are Unlikely to Derail the Housing Recovery Mortgage Rates are Only One Piece of the Housing Puzzle Home Price Appreciation Remains at the Forefront of the Recovery The most recent CoreLogic Home Price Index shows home prices rose 12.2 percent year-over-year in May, marking the largest increase since February 2006. Full Article...          Builder Confidence Soars in July Cash purchases of California Homes hit record in 2012 Builders' confidence in the U.S. housing market soared in July as sales and home prices showed continued strength.   A housing market index by the National Assn. of Home Builders rose six points to a reading of 57 in July. Any reading above 50 indicates that more builders view conditions favorably than not.   It was the third consecutive increase, and the strongest level for the index since January 2006. The index is derived from a monthly survey of home builders nationally, which asks them to rate perceptions of current sales for single-family homes, expectations for the next six months and to rate the level of traffic of prospective buyers through home-buying projects. Full Article...       Mid Year 2013 Assessment of the Economy There is still significant pent-up demand for goods and services. Too much of this was postponed during the downturn. People are buying new cars, new refrigerators, and more furniture and furnishings because there are more new households, formed from the surge in renting and buying. Full Article...   Source: California Economic Watch / Mark Schniepp July 2013       Home Finance Write-Offs Fall to 5-Year Low as Delinquencies Improve A recent National Consumer Credit Trends report filed by reveals home finance write-offs year-to-date through May reached a total of $69.7 billion. This statistic shows write-offs have hit a five-year low, with a decrease of more than 23 percent year-over-year from 2012's $90.8 billion during the same time period.   Regarding the report's data, Equifax chief economist Amy Crews Cutts offers some insight and explanation stating that, "Improving payment behavior and decreasing delinquencies has brought some stability to the home-finance sector. While there is still concern over the high volume of existing severely delinquent loans, otherwise known as the shadow inventory, rising home values are bringing more and more borrowers into positive equity and decreasing the likelihood that they will fall into trouble."    Full Article...         June Home Sales and Price Report July 16, 2013      June Home Sales Ebb, as Median Home Price Continues Upward Trend LOS ANGELES (July 16) - California home sales pulled back in June as home prices continued to climb, with most regions posting healthy double-digit year-over-year gains and the statewide median price maintaining above the $400,000 mark for the third straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported. Full Article...      Bolstered by Strong Sales in Higher-Priced Regions, California Median Home Price Records Largest Year-to-Year Gain Since 1980, C.A.R. reports LOS ANGELES (June 17) - Strong sales growth in higher-priced markets and continued housing supply shortage pushed up California's median home price in May, resulting in the largest year-over-year price gain in at least the last 33 years, the CALIFORNIA ASSOCIATION OF REALTORS ®(C.A.R.) reported. Full Article...       Median Home Sale Figures: Jul '11 - Jun '12 vs Jul '12 - Jun '13   Note: This is a full year's worth of statistics, comparing the time period of July, 2011 - June, 2012 with July, 2012 - June, 2013. High demand for moderately-priced homes coupled with fewer distressed sales in those communities continues to push median home prices in North & South Redondo and El Segundo higher.   Manhattan Beach had significant gain for single family homes while condos declined slightly. Hermosa Beach was the only city to see a slight decline in both home and condo median prices although sales increased in both categories.   Click here to see the percentage gain or loss for the median sales price of single family, condos or townhomes in our local beach cities. Also included, the percent change in sales price year over year and the number of annual sales in each category 2011 vs 2012.   *Data pulled from MLS does not reflect off MLS sales.       Current Home Loan Rates Click here for the latest 30 year fixed, 30 year FHA loans, 5/1, 7/1, and 10/1 ARMs. If you would like to be connected with a lender who will provide details on qualifying for a loan that will meet your needs, don't hesitate to call.            Source: Grant Norris, RPM Mortgage July 9, 2013          Housing Market Update for South Bay Cities February 2012 through June 2013 Statistics for the nine cities listed below have five data sets representing: (1) Single Family Residences (2) Condos and Townhouses Each data set will address: 1) Median sold (closed) vs list price comparison 2) Number of closed sales per month 3) Number of properties for sale (available) per month 4) Number of properties under contract (in escrow) per month 5) Listing status comparison by month comparing the number available listings vs listings under contract vs closed listings.      El Segundo Click below for detailed charts:   Single Family - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory   Condos and Town Homes - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory  Hermosa Beach Click below for detailed charts:   Single Family - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory   Condos and Town Homes - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory       Manhattan Beach Click below for detailed charts:   Single Family - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory    Condos and Town Homes - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory    Palos Verdes Estates Click below for detailed charts:   Single Family - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory    Condos and Town Homes - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory        Ranchos Palos Verdes Click below for detailed charts:   Single Family - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory   Condos and Town Homes - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory    Redondo Beach Click below for detailed charts:   Single Family - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory   Condos and Town Homes - Median Price - For Sale/Sold/Pended - Avg. Price for Sale & Sold - Months of Inventory       Rolling Hills Click below for detailed charts:   Single Family - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory    Note: No condos for Rolling Hills   Rolling Hills Estates Click below for detailed charts:   Single Family - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory    Condos and Town Homes - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory        Torrance Click below for detailed charts:   Single Family - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory    Condos and Town Homes - Median Price  - For Sale/Sold/Pended  - Avg. Price for Sale & Sold  - Months of Inventory      Source: Trendgraphix July 2013 IN THIS ISSUE 30 Year History of 30 Year Fixed Rates Housing Data Wrap-Up: June 2013 Rising Mortgage Rates are Unlikely to Derail the Housing Recovery Builder Confidence Soars in July Mid Year 2013 Assessment of the Economy Home Finance Write-Offs Fall to 5-Year Low as Delinquencies Improve June Home Sales Ebb, as Median Home Price Continues Upward Trend Bolstered by Strong Sales in Higher-Priced Regions, California Median Home Price Records Largest Year-to-Year Gain Since 1980 Median Home Sale Figures Current Home Loan Rates Housing Market Update for South Bay Cities   QUICK LINKS  SBBI Featured Properties   SBBI Open Houses   Entire MLS   Local Schools   City Halls / Local Chamber    COMMUNITY NEWS & EVENTS Hyperion S.A.F.E. Collection Center   Partners in Education - MBEF   LAX Master Plan   El Segundo  Farmers Market is every Thursday from 3-7 pm Main Street between Holly and Pine Avenues    On-line Permit Center (OPC) The Permit Center will allow customers to pull roofing, electrical, mechanical, and plumbing permits. Permit status and inspections as well as plan check status will also be available.   El Segundo School Year Calendar   Hermosa Beach Weekly Farmer's Market   Proposed Oil Production Project    Hermosa Beach School Year Calendar     Manhattan Beach Weekly Farmer's Market Tuesdays 12 noon - 4pm 13th St. between Morning Side and Valley Dr.   Styrofoam Now Recyclable in Manhattan Beach    Manhattan Beach School Year Calendar    Manhattan Beach Residents Can Get Sweeping fees Back    Notice of Ordinance Requiring a Permit for Short-Term Vacation Rentals During the Period from July 25th - August 5th Due to Annual Charley Saikley 6 Man Volleyball Tournament    Palos Verdes Weekly Farmer's Market Sundays 9am - 1pm Peninsula Shopping Center   Redondo Beach Weekly Farmer's Market    Redondo Beach School Year Calendar     Torrance Del Amo Fashion Center Redevelopment      Torrance School Year Calendar   ABOUT SOUTH BAY BROKERS     Copyright © 2013 South Bay Brokers. All Rights Reserved.

 

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