The attached chart of the Southern California Counties is a real-time indication that the pending property sales spike we saw through June from the April COVID crash may have leveled off. The May and June sales have been solid. Property values have also stayed solid, with inventory staying low, ... » Learn More about Pent Up Demand of Real Estate Sales Leveling Off and Other San Fernando Valley Statistics
Mortgage Rates Staying Solid… and Low
As you can see in the chart of the 10-year note, the long term interest rates have stayed good since April. This is with the help of the Federal Reserve's Quantitative Easing, purchasing billions of dollars of mortgage-backed securities and long term US notes/bonds, supporting the financial markets, ... » Learn More about Mortgage Rates Staying Solid… and Low
Los Angeles Real Estate Report Card July 2020
As you can see, even though the property values have continued to appreciate, the Affordability Index has gotten a lot better, because of the drop in the mortgage rates to historic lows. Inventory levels are 27% lower than a year ago. Basic supply and demand. Sales activity has popped back up from ... » Learn More about Los Angeles Real Estate Report Card July 2020
A New MRES Multi Real Estate Services Website
They say sometimes "what's old is new again". Then again sometimes "what's old is just old". It's been a few years, but every so often a website needs a facelift or a repurposing. In this case, it was both. I started Multi Real Estate Services back in 1995. Back then it was basic HTML ... » Learn More about A New MRES Multi Real Estate Services Website
California Real Estate Market at a Glance
We knew the real estate market statistics were going to be rough in April, and they were. I blogged last week on the San Fernando Valley numbers, but it was a difficult month throughout the state. Generally real estate is local. In this case, the COVID-19 malfunction is having its way with the ... » Learn More about California Real Estate Market at a Glance