Sorry doom and gloomers. The real estate market is hot in California.

Over your head. Pay it no mind. Carry on.

 

people talking out of their ass seldom make much sense.

 

Da Nial? You in Egypt?

You 'gots to be a broker' or some shit. Brokers and RealtorsTM (it's not a real word) are some of the lowest forms of life (though about 1 out of 100 are competent and ethical).

http://www.bloomberg.com/apps/news?pid=20601087&sid=aeaPGMk4vTnw

Southern California Home Prices Fall on Foreclosures (Update2)
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By Daniel Taub

Oct. 13 (Bloomberg) -- Southern California house and condominium prices fell 11 percent in September from a year earlier as foreclosures dominated sales, MDA DataQuick said.

The median price dropped to $275,000 from $308,500 a year earlier, the San Diego-based research company said today in a statement. The number of homes sold rose 5.1 percent from a year earlier to 21,539 in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties.

Transactions involving houses or condominiums that had been foreclosed on at some point in the past year accounted for 40 percent of all home sales in Southern California last month, MDA DataQuick said. That was down from almost 42 percent in August and a record of almost 57 percent in February.

“It’s still abnormally high, but down significantly from the peak levels,” Andrew LePage, an MDA DataQuick analyst, said in an interview.

September marked the 15th straight month of year-over-year sales increases. A 0.2 percent increase in sales from August was atypical, as transactions usually drop 9.5 percent from August to September, MDA DataQuick said. Sales likely were boosted by those taking advantage of the federal tax credit for first-time homebuyers, set to expire next month, the research company said.

September’s 11 percent drop in prices from was the median’s smallest year-over-year decline for any month since November 2007. Southern California home prices still may be hurt by additional defaults, LePage said.

Foreclosure Risks

“A lot of these potential foreclosure cases are unknowns at this point,” he said. “Will they go to foreclosure? Will they go to loan modification? And how long will that stick?”

The median price dropped from a year earlier in all six Southern California counties except Orange County, where the median rose 0.9 percent to $429,000, MDA DataQuick said. San Bernardino had the biggest price drop, with its median falling 27 percent to $150,000.

Sales climbed from a year earlier in four counties and fell 5.3 percent in Riverside County and 3 percent in Ventura County. Los Angeles County had the biggest rise, with its sales increasing 14 percent, MDA DataQuick said.

The research company is a unit of Richmond, British Columbia-based MacDonald, Dettwiler & Associates Ltd. MDA DataQuick compiles surveys using county records and supplies real-estate information to public agencies, lenders and title companies.

To contact the reporter on this story: Daniel Taub in Los Angeles at dtaub@bloomberg.net.
Last Updated: October 13, 2009 14:40 EDT

 

Data Quick has detailed sales figures by zip code on their site. This article pertains to the entire state.

California September Home Sales
October 15, 2009

An estimated 40,216 new and resale houses and condos were sold statewide last month. That was up 1.0 percent from 39,811 in August, and down 0.3 percent from 40,317 for September 2008. California sales for the month of September have varied from a low of 24,460 in 2007 to a peak of 69,304 in 2003, the average is 44,816. MDA DataQuick's statistics go back to 1988.

The median price paid for a home last month was $251,000, up 0.8 percent from $249,000 in August, and down 11.3 percent from $283,000 for September a year ago.

Of the existing homes sold last month, 41.9 percent were properties that had been foreclosed on during the past year. That is the lowest in more than a year. In September 2008 it was 50.9 percent, it reached 58.8 percent last February.

The typical mortgage payment that home buyers committed themselves to paying last month was $1,085. That was down from $1,093 in August, and down from $1,363 for September a year ago. Adjusted for inflation, last month's mortgage payment was 49.1 percent below the spring 1989 peak of the prior real estate cycle. It was 58.8 percent below the current cycle's peak in June 2006.

MDA DataQuick is a division of MDA Lending Solutions, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. MDA DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

Indicators of market distress continue to move in different directions. Foreclosure activity remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, and non-owner occupied buying is above-average in some markets, MDA DataQuick reported.

Copyright MDA DataQuick Information Systems. All rights reserved.

http://www.dqnews.com/Articles/2009/News/California/RRCA091015.aspx

County and city info:

http://www.dqnews.com/Charts/Monthly-Charts/CA-City-Charts/ZIPCAR.aspx

 

Can't follow instructions, bumpkin? That explains alot. Keep mumbling...

 

First ...it's The (da) Nile Idiot.

Second....do you have a slightest concept of just how big Southern California is? You must not because you keep posting irrelevant Bloomberg articles about SoCAl as though it's some kind of monolith or one light town.

Third...my last post referenced L.A. County.

Fourth...mylast post further referenced a very small part yet very desirable part of L.A.County. But that nuance totally escapes you.

Fifth... I never been a RE broker in my life. Never have I met a more incompetent group in my life. Why in god's name would I want to join that group.

Sixth...And I'll still trade circles around the likes of you.

 

Why don't you buy a bunch of those highly sought after homes, and flip them?

I'll look forward to your P&L statement.

 

Whatddya think I've been doing...you can't be this dense. Plus I've documenting it right here over the last 2 years while you whine bags cry in your beer.

Amateurs.

 

You're a house flipper? REALLY?

Okay, post the properties you've flipped by address.

I'm eagerly awaiting your profit statement.


Thanks.

 

I'm a capital markets trader and have been since 1989. I buy and sell properties, Oil and Gas Leases and Grazzing Land and distressed herds when the market presents itself with some screaming bargins much like they are now and have been in the recent past past. And you want to see my P/L. Are stupid or something? My guess is you don't even have the ability to comprehend my Financial Statements.

Hell junior..you don't even trade for a living.


EDIT: forgot to add that we also build out free standing Surgery Centers across the country. Wanna see to the books on those too? Putz