A Pretty Good Summary of National and Local Trends
Posted in Market Trends and Projections | By Blair Newman and Dave Emerson | Tags: home prices, housing market, real estate
The Wall Street Journal released their quartlerly survey of housing-market conditions in 28 major U.S. metropolitan areas today, along with an analysis that’s rings true with what we’re seeing throughout our region.
The article’s title pretty much sums it up: “With Buyers Sidelined, Home Prices Slide.” The survey itself reveals that what we’re experiencing locally is being repeated across the country, with some areas doing worse than us but more areas doing better.
To see the complete article and the survey results, just click here: http://online.wsj.com/article/SB119326355265670448.html?mod=googlenews_wsj
Tags: home prices, housing market, real estate
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November 4th, 2007 at 7:33 am
What’s the price in the california these days!
response from Dave:
Hello, France! For you, the prices are doubly great!
First, because most California prices have dropped 10% - 40% from their peaks of about 2 years ago. Second, because the dollar has dropped against the Euro.
In fact, we think one of the things that may help pull California out of it’s current slump will be an infusion of offshore money, partly driven by the weak dollar. That’s already been a huge boost to our tourism industry.
California covers a huge area, from the ocean to the mountains to the desert, with prices for single family homes ranging from below $100,000 U.S. in isolated desert regions to over $10,000,000 U.S. for prime custom homes.
Let me give you an example we came across today. About a year and a half ago we sold a nice 1400 sq. ft three bedroom, two bath home on a 6,000 sq. ft. lot in a nice, middle class section of La Mirada for over $550,000. Today we just discovered it has gone back on the market for $450,000. The home’s about 7 miles northwest of Disneyland and 15 miles southeast of downtown Los Angeles.
Now it’s your turn to answer a question from us: How does that compare with properties 15 miles outside of central Paris?
Oh, did I mention that La Mirada enjoys at least some sunshine over 360 days most years?