The market has changed significantly over the last 12 months forcing everyone in the buying, selling, and rental markets to re-evaluate what a good deal is, what a property is worth, what the rental value is, and how to price a property to sell quickly.
Get payday loans to prevent late fees and protect your credit when you absolutely can't make a mortgage payment.
Print This Post
Living in Los Angeles has proven to be an existence in various shades of tan, brown, acrid yellow and if we are lucky to be missing the notorious smoggy grey haze a scientific blue. I ask, in this perfect climate where is the green? I am sure our extreme lack of “green” space does not help with the production of the much needed supplemental oxygen and room to wiggle our toes. Los Angeles is considered to be the most park poor major city in America, with a sparse 7.8 % of its city space allocated to parks. It seems that other Angelinos might be feeling the lack of green these days and perhaps find more value in parks and recreational areas, because the “Green Alley Movement is gaining momentum:The city of Los Angeles has officially committed to an innovative proposal to transform some of its neglected alley ways, typically used for dumping, trash bins, slumbering quarters for the occasional drunken bar hopper unable to make the staggering trek home and just good old fashioned crime. This transformation comes by way of “green space”The proposed green alley project will use existing spaces in a new progressive way. It is creative ideas using mostly existing infrastructure that will quickly transition urban areas to sustainable pedestrian havens. Most of the existing alleys in LA are in dense single-family residential neighborhoods, and the majority of these are in South Los Angeles. The goal is to give these spaces back to the public for recreational use, and in turn increase the green space of the city. The City Council approved recommendations advancing the proposal of the Green Alley Project. It included provisions for developing design guidelines, determining cost, building a detailed map of alleys and identifying pilot project sites. The first pilot project site to be Cosmo Alley and slated for completion the summer of 2010.
This alley runs north and south from Hollywood Boulevard and Selma Avenue between Cahuenga Boulevard and Cosmo Street and has been gated for many years. Adjacent businesses have used the public alley for private purposes and the public has been denied access to the alley. This canker sore of a street and eclectic mishmash of dumpster valet is soon to be reborn as a pedestrian mall as City Council with Garcetti’s motion has declared this alley to be returned to the public and require business’s to apply for revocable permits for the use of the public space.
What does this mean to business’s and local property owners? Simply, more pedestrian traffic and opportunity to increase business and revenue. What does this mean to residents and tenants in the area? A well maintained relaxing space to enjoy lunch alfresco, and a great place to take a stroll and wiggle your toes.
Popularity: 1% [?]
Print This Post
Living in Los Angeles has proven to be an existence in various shades of tan, brown, acrid yellow and if we are lucky to be missing the notorious smoggy grey haze a scientific blue. I ask, in this perfect climate where is the green? I am sure our extreme lack of “green” space does not help with the production of the much needed supplemental oxygen and room to wiggle our toes. Los Angeles is considered to be the most park poor major city in America, with a sparse 7.8 % of its city space allocated to parks. It seems that other Angelinos might be feeling the lack of green these days and perhaps find more value in parks and recreational areas, because the “Green Alley Movement is gaining momentum:The city of Los Angeles has officially committed to an innovative proposal to transform some of its neglected alley ways, typically used for dumping, trash bins, slumbering quarters for the occasional drunken bar hopper unable to make the staggering trek home and just good old fashioned crime. This transformation comes by way of “green space”The proposed green alley project will use existing spaces in a new progressive way. It is creative ideas using mostly existing infrastructure that will quickly transition urban areas to sustainable pedestrian havens. Most of the existing alleys in LA are in dense single-family residential neighborhoods, and the majority of these are in South Los Angeles. The goal is to give these spaces back to the public for recreational use, and in turn increase the green space of the city. The City Council approved recommendations advancing the proposal of the Green Alley Project. It included provisions for developing design guidelines, determining cost, building a detailed map of alleys and identifying pilot project sites. The first pilot project site to be Cosmo Alley and slated for completion the summer of 2010.
This alley runs north and south from Hollywood Boulevard and Selma Avenue between Cahuenga Boulevard and Cosmo Street and has been gated for many years. Adjacent businesses have used the public alley for private purposes and the public has been denied access to the alley. This canker sore of a street and eclectic mishmash of dumpster valet is soon to be reborn as a pedestrian mall as City Council with Garcetti’s motion has declared this alley to be returned to the public and require business’s to apply for revocable permits for the use of the public space.
What does this mean to business’s and local property owners? Simply, more pedestrian traffic and opportunity to increase business and revenue. What does this mean to residents and tenants in the area? A well maintained relaxing space to enjoy lunch alfresco, and a great place to take a stroll and wiggle your toes.
Popularity: unranked [?]
Print This Post
30-year fixed-rate mortgage: Averaged 4.79 percent with an average 0.8 point for the week ending June 3, 2010, up slightly from last week when it averaged 4.78 percent. Last year at this time, the 30-year FRM averaged 5.29 percent.
The 15-year fixed-rate mortgage: Averaged 4.20 percent with an average 0.7 point, down slightly from last week when it averaged 4.21 percent. A year ago at this time, the 15-year FRM averaged 4.79 percent. The 15-year FRM has not been lower since Freddie Mac started tracking the 15-year FRM in August of 1991 and breaks last week’s record low.
Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.94 percent this week, with an average 0.7 point, down from last week when it averaged 3.97 percent. A year ago, the 5-year ARM averaged 4.85 percent.
One-year Treasury-indexed ARMs: Averaged 3.95 percent this week with an average 0.7 point, unchanged from last week when it averaged 3.95 percent. At this time last year, the 1-year ARM averaged 4.81 percent. The 1-year ARM has not been lower since the week ending May 27, 2004 when it averaged 3.87 percent.
Freddie Sayz
The economy grew at a slower rate than originally reported in the first three months of the year, according to the Bureau of Economic Analysis , which suggests inflation will remain tame in the near term, said Frank Nothaft, Freddie Mac vice president and chief economist.
As a result, mortgage rates held at historic levels this week. In fact, rates on 15-year fixed rate mortgages set another record low for the third week in a row. There are also signs that credit conditions may be improving. The number of homeowners with private mortgage insurance who became current on their mortgages outnumbered those who defaulted for the third month in a row in April, according to data compiled by the Mortgage Insurance Companies of America
Related
When Hiring a Property Management Company
Strategic Defaults: A Strategic Option
This real estate article was posted from Your Property Path
Popularity: 1% [?]
Print This Post
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 5.77 million units in April from an upwardly revised 5.36 million in March, and are 22.8 percent higher than the 4.70 million-unit pace in April 2009. Monthly sales rose 7.0 percent in March.
The upswing in April existing-home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires, but other factors also are supporting the market,” the chief economist for NAR, Lawrence Yun said. “For people who were on the sidelines, there’s been a return of buyer confidence with stabilizing home prices, an improving economy and mortgage interest rates that remain historically low.”
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 5.10 percent in April from 4.97 percent in March; the rate was 4.91 percent in April 2009.
Total housing inventory at the end of April rose 11.5 percent to 4.04 million existing homes available for sale, which represents an 8.4-month supply2 at the current sales pace, up from an 8.1-month supply in March. Raw unsold inventory is 2.7 percent above a year ago, but remains 11.6 percent below the record of 4.58 million in July 2008. see chart
Regions
In Stock Markets
Volume Precedes Price
This simply means that volume will indicate the end of an uptrend or a downtrend before the price changes indicate it. In the real estate markets price will not begin to firm until volume begins to decline. If this holds true the NAR study indicating increasing sales volume and continued price drops may be the early beginnings of a market bottom. The change in trend will begin in earnest when volume shrinks, until then we can expect prices to decline
Bouncing Along The Bottom
Whats it feel like
Well a lot like this. Its a place where asset price action is no longer declining as a long term trend. Price seems to go up and then back down. It simply means that not all the bad news is out of the markets and that healthier signs appear and are then clouded by another set of negative circumstances.
For example the EU crises precipitated by Greece caused money to flow out of the EU. This caused rates to drop in the US. It also raised the value of the dollar, making our exports more expensive to Europeans. Since four of our top ten trading partners are in Europe this is likely to impact job growth. So, cheaper mortgages might incentivize some people, but job uncertainty might disincentivize other people….not all the bad news has washed out.
REsourced from www.yourpropertypath.com
You may republish this article, as long as you do not edit and you agree to preserve all links to the author and www.yourpropertypath.com
Related
Mortgage Rates Fall Again
A Guide To Homeowners Insurance
This real estate article was posted from Your Property Path
Popularity: 1% [?]
Print This Post
The recent Case Shiller report shows price declines in front of the tax credit completion…The index gives us a slight 0.38% decline in the top ten market composite. Year over year the index is up 3.15% when compared to March 09. Recent strong price moves will come to a serious halt because the tax stimulus is behind us. The silver lining in this is that it proves demand is there, just waiting for the right price and for some of this historic uncertainty to settle. I have a chart on site, via Redfi showing the 2009 price spike . Price momentum is quite impressive and the recent downturn looks reasonable for at least San Francisco, San Diego LA, Washington and Boston.
Beware the inventory surge
In our immediate future is a large wave of potential foreclosures as banks begin to off load inventory they have been holding back. Home owners also are placing their homes for sale at hefty pace. Many waiting for better times before listing are now beginning to do so. The supply surge increase the likelihood that will continue to see price declines as sales volume continues to increase. Most experts still agree that we are bouncing along the bottom, meaning we are no longer in a steep decline and that will have to do as the definition of price stabilization.
REsourced from www.yourpropertypath.com
You may republish this article, as long as you do not edit and you agree to preserve all links to the author and www.yourpropertypath.com
Related Articles
Home Trends Price Stability
Rent Vs Buy Today
FHA Financing Now Available For REO Properties
This real estate article was posted from Your Property Path
Popularity: 1% [?]