South Bay Vision David White

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NOVEMBER 2013 FEATURED PROPERTIES Investment across the economy grew 9.5% after rising 9.2% in the second quarter, largely reflecting strength in the housing sector.*   Per Mark Schniepp, Economist and Director for California Economic Forecast "there are more new homes started in California this year and in 2014, more new developments will break ground. In Southern California (especially in the coastal cities of Southern California) more existing home transactions will occur this year than in any year since 2006." **   Please take time to review the information on our local sales below. You will see an impressive turnaround from a year ago.   Should your plans include real estate purchase and sales, please call or email with questions - and as always, thanks for your referrals!     Sources: *WSJ 11/7/13 **California Economic Forecast - The Economic Watch November 2013 - Mark Schniepp David White Office: 310-546-7611 ext. 398 Cell: 310-916-1533 CalBRE # 01357398 Email Me My Website   CoreLogic Case-Shiller Home Prices Indexes Major Market Overview   Home Prices Rise in Nearly 90 Percent of U.S. Metros in the Second Quarter of 2013 Nationally, Home Prices Are Now 16 Percent Above the Fourth-Quarter 2011 Low Home Price Appreciation is Projected to Slow to an Average of 5.4% Percent by Early 2014 Full Article...             Source:  California Economic Forecast - The Economic Watch November 2013 - Mark Schniepp       Fed Survey: Loan Demand Remains Cool While Standards Ease Kimberly Ritter-Martinez November 15, 2013 The Federal Reserve recently released results for the October 2013 Senior Loan Officer Survey on Bank Lending Practices. This survey addresses changes in the supply of, and demand for, bank loans to businesses and households during the past three months.   Broadly speaking, domestic banks in the October survey reported having eased their lending standards but experienced little change in loan demand over the past three months. The survey also asked two special sets of questions. First, banks were asked to describe whether they experienced a change in their volume of residential mortgage applications and if they had made any changes to their lending standards for residential mortgages. The second set of questions concerned standards and terms for subprime auto loans over the past year. Full Article...       Southern California Home Sales and Median Prices Kimberly Ritter-Martinez, October 21, 2013 Southern California home sales in September rose to 19,112 units (new and resale houses and condominiums), an increase of 7.0% compared with September 2012. The year-to-year increase in sales was due mostly to the gains in mid- to high-priced homes that offset declines in sales of homes priced below $300,000.     Compared with August, sales were down by 17.1%. It is normal to see sales decline as the year transitions from summer to fall, but the drop this year was above the average decline of 9.3% typically seen between August and September. Higher mortgage interest rates and the cooling of investor activity likely contributed to September's month-over decline.   The median price for the six-county region increased by 21.3% to $382,000. Although this was the ninth consecutive month in which the median price posted a gain in excess of 20%, the year-over increases are slowing. Compared with August, the median price slipped by 0.8%. Since June, on a month-to-month basis, median prices have been flat. This is consistent with the long run seasonal pattern of home prices which generally rise sharply in the spring as the peak season kicks off, edge up or hold steady during the summer, and then decline from the fall through February of the next year during the market's off-peak months. Full Article...      S & P / Case Shiller Home Price Index Non-distressed inventories are very lean. Together, the tight supply of homes overall contributed to sharp price appreciation over the year. Demand for housing is still strong, but the month-to-month numbers are starting to show a declaration in home price increases. Credit for mortgage loans is still difficult to obtain for many would-be buyers and interest rates, while still quite low, are elevated compared to recent rates. Additionally, home price growth has far outpaced income growth. Prices will continue to rise well into next year but the pace will be slower. Full Article...     Source: LAEDC / Kimberly Ritter-Martinez 11/5/13       C.A.R. Releases its 2014 California Housing Market Forecast California home sales and prices to rise in 2014 as market transitions toward primary home buyers LOS ANGELES (Oct. 8) - After distressed sales lost their hold on much of California's market, the state's housing market will continue to improve in 2014, with sales shifting toward primary home buyers and both sales and home prices posting further gains, according to the CALIFORNIA ASSOCIATION OF REALTORS®' (C.A.R.) "2014 California Housing Market Forecast," released today. Full Article...            Construction Spending Rises In August October 22, 2013 During the first eight months of the year, construction spending amounted to $581.9 billion, 5.9 percent above the $549.4 billion for the same period in 2012. Residential construction was at a seasonally adjusted annual rate of $340.2 billion in August, 1.2 percent above the revised July estimate of $336.2 billion. Full Article...       The Future of the US Housing Market Insights from Carrington Mortgage Holdings executive By Inman News, October 25, 2013 As executive vice president of Carrington Mortgage Holdings LLC and during his eight years as an executive at RealtyTrac, Rick Sharga has briefed government organizations such as the Federal Reserve and Senate Banking Committee, and corporations like JPMorgan Chase, Citibank and Deutsche Bank, on foreclosure trends. Full Article...       Median Home Sale Figures: Jan - Oct 2012 vs Jan - Oct 2013   Note: This is a year over year chart of statistics, comparing the time period of January - October 2012 vs January - October, 2013. You will see that the numbers reflect a truly impressive turnaround from a year ago at this time for all beach cities.   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 2012 vs 2013.   *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, November 11, 2013          Housing Market Update for South Bay Cities August 2012 through October 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 October 2013 IN THIS ISSUE CoreLogic Case-Shiller Home Prices Indexes Fed Survey: Loan Demand Remains Cool While Standards Ease Southern California Home Sales and Median Prices S & P / Case Shiller Home Price Index C.A.R. Releases its 2014 California Housing Market Forecast Construction Spending Rises In August The Future of the US Housing Market 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 3-7pm 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   December 5th Holiday Tree Lighting   Ground Breaks on $80M Shopping Center   Hermosa Beach Weekly Farmer's Market   Proposed Oil Production Project    Hermosa Beach School Year Calendar     To Drill or Not to Drill (additional article detailing more about both sides of project)    December 5th - 6pm Annual Hermosa Beach Holiday Open House and Tree Lighting Ceremony   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    December 8th 3:30pm South Bay Brokers Proud Sponsor of 25th Annual MB Holiday Fireworks Festival Hope to see you downtown!   Palos Verdes Weekly Farmer's Market Sundays 9am - 1pm Peninsula Shopping Center   Redondo Beach Weekly Farmer's Market    Redondo Beach School Year Calendar     Torrance  Torrance School Year Calendar   ABOUT SOUTH BAY BROKERS     Copyright © 2013 South Bay Brokers. All Rights Reserved.

 

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