Los Angeles Realtor | Cal BRE#: 00677619
Call Carole Today: 310-442-1384
What is happening in Lower Casiano Area specifically?
As usual, the area is a little quieter than other parts of Brentwood or Bel Air. Last year at this time, there was one home for sale, vs. none this past quarter. There were no open or closed escrows as well as nothing for lease nor any homes that were leased. However, the overall increased sales activities and prices are impacting the entire area and should be reflected when properties do come on the market in the Lower Casiano Area!
What is happening in Brentwood Circle specifically?
Currently there are two homes listed for sale vs. one the first quarter of last year, and one of the homes for sale was also listed for sale year, but the price is a little higher this year. Neither quarter had any homes in escrow; there was one closed escrow this past quarter which was a private sale. Last year there was one home available for lease vs. none this past quarter, and the same home is available again this year as well. There was one home that was leased in this past quarter last year vs. none this year. . Overall the increased sales activity in the general area as well as prices bodes well for the community!
What is happening in Brentwood specifically?
Currently there are three homes listed for sale vs. two the first quarter of last year. This past quarter four homes entered into escrow vs. two last year and there were two closed escrows this past quarter vs. one during the same time period last year. Currently there is one home available for lease where as there were none the first quarter of last year and for both years one home was leased. Overall the increased sales activity in the general area as well as prices bodes well for the community!
What is happening in Bel Air Park specifically?
Currently there are two homes listed for sale vs. one the first quarter of last year. Neither quarter had any homes in escrow; there was one closed escrow this past quarter. Last year there was one home available for lease vs. none this past quarter, and there were no homes leased either year. Overall the increased sales activity in the general area as well as prices bodes well for the community!
First Quarterly Report
Springtime is a wonderful time of renewal — and it appears that our economy and real estate markets are showing signs of gaining momentum. It is happening everywhere here on the Westside.
If you are reading the latest economic news, you will see there is renewed optimism that our economy will continue to strengthen and that home prices will move upward, which has not been the case in recent years. What we have seen in recent months, however, is that over last year, real estate sales volumes have substantially moved upward in three of the communities I report on (Beverly Hills, Bel-Air, and Brentwood), and that median sales prices are holding steady. According to Core Logic, a leading provider of analytics who recently released a new analysis showing an increasing number of homes that have moved from negative equity to positive positions. In the US, over 200,000 homes returned to a state of positive equity during the fourth quarter of 2012. This brings the total number of properties that moved from negative to positive equity positions to 1.7 million at the end of last year. However, we still have approximately 10.6 million homes in the negative zone. All of this shows a glimmer of hope for those who are still fighting negative equity in our communities. There is also news that the mortgage modification rules are being eased. While the current position of the federal regulators is to not reduce the principal amount owed, only the terms of the loans, that too could change. Overall these changes certainly brighten the real estate outlook!
While some economists continue to worry that we are still in a fragile real estate economy and that we may be witnessing a bubble-in-the-making, we can only rely on what we experience in our local communities and neighborhoods. We are seeing a reversal of people who previously were leaving California and are returning to our area, including Silicon Beach (Santa Monica and Venice areas). And as I do twice each month in the SchifferLine, I try to give you the latest statistics and perspectives on what is happening in your community from someone who is in the real estate trenches every day….
In the meantime, I hope you have a wonderful spring and please call me and let me know how I can assist you with any of your real estate needs.
Click here to see the Bel Air Crest First Quarterly Updates
Click here to see the Bel Air Park First Quarterly Updates
Click here to see the Brentwood First Quarterly Updates
Click here to see the Brentwood Circle First Quarterly Updates
Click here to see the Lower Casiano Area First Quarterly Updates
Click here to see the Moraga Drive First Quarterly Updates
Click here to see the Moraga Place First Quarterly Updates
Click here to see the Mountaingate First Quarterly Updates
CAROLE SCHIFFER
COLDWELL BANKER REALTY
RESIDENTIAL BROKERAGE
Los Angeles Realtor
Cal BRE#: 00677619
11661 San Vicente Blvd
Tenth Floor
Los Angeles, California 90049
Email: ceschiffer@gmail.com
Office: 310-442-1384
