Real Estate Improves PT II- Change is Coming!

Well I can tell that my last post went over like a lead balloon. Some respondents indicated I was wrong to see more REO coming out of the gate soon. Again, I am back and like Jesse has said, " Talk about your market". Ok AM's get your pencils out and take notes! That means you "Doubting Thomas' realtors as well because here I go!

In my Los Angeles area market things have basically flattened out as far as price retreat. I have some example here from my coveted datasource:

Pico Rivera ,90660 +.12% gain over the last month!

Whittier, zips 90601-90606 (yes 5 zip codes here alone) +.48%!

La Mirada, 90638 <.15%> (ok just almost a zero here).. also voted one of the 10 best cities to live in a few years ago.

Buena Park 90620 <.16%>

Norwalk 90650 <.45%>

Los Angeles 90011 +.92% (where I did the BPO for Absolute REO)

Los Angeles as a whole...a WHOPPING + 1.16%

East Los Angeles (sometimes though of it as its own city!) a whopping 1.19%!!!

La Habra 1.59%!!! big gain here

Brea <1.45%> ok so we can't always be perfect!

Fullerton...+.01%

Well I can go on but you get the idea. My thoughts is that it may be a good time to start releasing some property over here before the market realizes what it is doing!

If you want a check on any other areas, please let me know. The Los Angeles Basin is a big place!

The market is turning and while we may not be out of the woods yet, I beleive the best is yet to come.

Contact me at any time!

Strong increases here in Sothwest Florida John, up 42% in my area...no, not .42, Florida is an indicator to the rest of the nation as we are generally the 1st in trouble but on the flip side we are the 1st to bring it back as well. More of the fundamental investors with cash buying on the low end instead of the "Hack, finance as much as you can investors" that got themselves into trouble. The builders have been sitting on the couch watching Opra for over two years so the inventory levels are much lower this years at the front end of our winter selling season.

Interesting short read from the herald a couple of weeks back.

http://www.heraldtribune.com/article/20100126/ARTICLE/1261040/2416/...

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Comments

Cindy Billman, SRES ®, SFR®, CDPE February 14, 2010 at 11:27am

I'm with you John. I am in Tarrant County, Texas (Ft Worth) and scheduled foreclosure sales for March are up by 37% from March of 2009. I have had 2 companies in the past week call me and ask if I am interested in doing short sales. Contacts at Fannie say 2nd qtr will be the flood and that not more than 25 listings will be assigned per realtor.
Tony Linton February 11, 2010 at 5:00pm

Strong increases here in Sothwest Florida John, up 42% in my area...no, not .42, Florida is an indicator to the rest of the nation as we are generally the 1st in trouble but on the flip side we are the 1st to bring it back as well. More of the fundamental investors with cash buying on the low end instead of the "Hack, finance as much as you can investors" that got themselves into trouble. The builders have been sitting on the couch watching Opra for over two years so the inventory levels are much lower this years at the front end of our winter selling season.

Interesting short read from the herald a couple of weeks back.

http://www.heraldtribune.com/article/20100126/ARTICLE/1261040/2416/...

This reply was deleted.