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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Tarzana. Low rates with falling home prices makes a home purchase a great value!
Please call me at 818-392-8550 for more information on the market.
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| Average Home Price | $650,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 10-15% |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $550,000 - $599,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Tarzana is | No Change |
| Seller Activity for the past 90 days in Tarzana is? | Decreasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | If priced right sellers are getting multiple offers. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 35-40% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Financing is available but the banks are having a hard time parting with their money.Market rates are amazing at this time! |
| Housing Inventory | Limited Supply |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Population Growth |
| Nearest Metro Area | Los Angeles |
| Housing Hot Spots | Encino,sherman oaks,studio city |
| Average Sold Price | $650,000 - View Graph Trend |
Tarzana Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
Contact Information
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1-888-832-2244
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
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