by Kathy Gibson | Apr 3, 2023 | Buying, Home and Garden, Market, Open House, Selling
While home sales and employment in California continued to march forward in February, recent banking turmoil has increased uncertainty on many fronts, including the housing market. Despite declines in long-term yields, ongoing pressures in the financial system could cause smaller banks to tighten lending standards and may have an adverse effect on housing demand. The Fed, nevertheless, enacted its ninth rate hike since March 2022 but hinted there might only be one more to come before the end of the year. Mortgage rates, as a result, slid for the second consecutive week and reached their lowest level in a month. This has motivated many buyers to come off from the sidelines as mortgage applications increased for the third week in a row. Courtesy C.A.R. Los Angeles, CA Mon Apr 03 2023 This week the median list price for Los Angeles, CA is $1,400,000 with the market action index hovering around 41. This is about the same as last month’s market action index of 41. Inventory has increased to 1,111. The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence. Pasadena, CA Mon Apr 03 2023 This week the median list price for Pasadena, CA is $1,697,500 with the market action index hovering around 46. This is less than last month’s market action index of 47. Inventory has decreased to 88. Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues...
by Kathy Gibson | Feb 23, 2023 | Buying, Home and Garden, Market, Neighborhood, Selling, Uncategorized
Did you know?* After peaking at $47.7 trillion in June 2022, the total value of US homes declined by $2.3 trillion, or 4.9%, in the second half of 2022. (Bloomberg)* Of homes purchased in January, 29% were all-cash transactions, up from 28% in December and 27% one year ago. (BARRONS)* The Federal Housing Administration will reduce the fee borrowers pay to have their mortgages insured by the agency by about $800 a year on a typical loan, or 0.3 percentage point. (Bloomberg)* In less than one month the price of lumber dropped over 27%….down over 75% off its 2021 high…….lumber is a good indicator of builder demand….. Compiled by Leonard Steinberg, Compass Manhattan Photo by Collov Home Design on...
by Kathy Gibson | Sep 26, 2022 | Home and Garden, Neighborhood
Last week was huge! Our contractor and his crew were here all week and we now have stucco, a working Argentinian grill, and the construction debris GONE! Our buddies were in town so it was perfect timing to host a dinner. Philip Krumal, winemaker extraordinaire, cooked veggies and Shriner’s sausages for all of us. BTW, Philip’s award-winning wines can be found at Asuncion Ridge winery in Paso Robles. Stay tuned .. coming up .. saltillo tile floor, concrete counters and mounted TV so we can watch the...
by Kathy Gibson | Aug 18, 2021 | Home and Garden
Originally inspired to up-cycle shipping containers into office spaces, Paul Rathnam of Modpools, has now begin to convert shipping containers into custom swimming pools. Yay, sustainability! Yay, up-cycle! Check out the full article...