You are currently browsing the Burbank Real Estate Report weblog archives for the day 28. March 2008.
- Blogroll (132)
- Burbank/Surroundings Foreclosure Listings (6)
- Buyer Information (12)
- City News (17)
- Economic Market Reports (58)
- Events (5)
- Go Green! (14)
- Government Issues! (21)
- Housing Information/Stats (45)
- Neighborhood Info (6)
- Off the Beaten Path (4)
- Seller Information (12)
- Zoning Issues (4)
- 21. November 2008: California Real Estate Facts
- 20. November 2008: Housing Starts
- 20. November 2008: Housing Market Index
- 14. November 2008: Conforming Loan Limits For 2009
- 11. November 2008: Toluca Lake Real Estate Sales
- 11. November 2008: Studio City Monthly And Year To Date Real Estate Sales
- 9. November 2008: Burbank Real Estate Sales Report For October 2008
- 28. October 2008: Valley Village Foreclosures and Short Sales
- 28. October 2008: Burbank Real Estate Foreclosures
- 28. October 2008: Studio City Foreclosures and Short Sales
Archive for 28. March 2008
Housing Market Update!
28. March 2008 by Ana Connell.
General Market Info:
- Conforming loan limits for Los Angeles County were increased from $417,000 to $729,750, a huge boon for home owners looking to refinance and for new home buyers. The bad news is that these changes are part of the Fed’s economic stimulus package and are a temporary increase that ends December 31, 2008 unless our political leaders choose to make these changes permanent.
- Tight money and lack of funds for loans compounded with stricter underwriting standards still haunt the market, although this hopefully will be changing soon as Fed bailout funds trickle down to the consumer.
- Case Shiller Index, which covers 20 major metro areas, had Los Angeles Metro area down 16.5% for February 2008.
- As we enter the important spring and summer selling season the inventory is starting to increase, so it will be interesting to see if the buyers enter the market and if they are able to get financing.
- New Home Sales for the nation fell to a 13 year low and California median home prices fell 26% from year ago levels.
Here are the current stats for February 2008:
|
Zip Code |
# Homes Sold |
Median Home Price |
% Chg From February 2007 |
Median Condo Price |
% Chg From February 2007 |
SFH Price Per Sq. Ft. |
|
90068 |
19 |
$950,000 |
-9.5% |
$495,000 |
12.0% |
$574 |
|
91040 |
11 |
$435,000 |
-19.1% |
n/a |
n/a |
$277 |
|
91042 |
12 |
$578,000 |
15.7% |
n/a |
n/a |
$256 |
|
91201 |
5 |
$600,000 |
-28.1% |
n/a |
n/a |
$388 |
|
91202 |
12 |
$765,000 |
- 3.9% |
n/a |
n/a |
$486 |
|
91207 |
6 |
$1,038,000 |
23.9% |
$303,000 |
-17.1% |
$417 |
|
91208 |
9 |
$752,000 |
-14.8% |
n/a |
n/a |
$362 |
|
91501 |
5 |
$825,000 |
-1.8% |
n/a |
n/a |
$405 |
|
91502 |
0 |
n/a |
n/a |
$495,000 |
35.9% |
n/a |
|
91504 |
19 |
$660,000 |
-17.5% |
$425,000 |
-1.7% |
$383 |
|
91505 |
13 |
$583,000 |
1.0% |
$396,000 |
-2.5% |
$483 |
|
91506 |
11 |
$459,000 |
-26.0% |
$415,000 |
1.2% |
$382 |
|
91602 |
7 |
$950,000 |
- 3.9% |
$338,000 |
-32.0% |
$486 |
|
91604 |
17 |
$943,000 |
-12.3% |
$450,000 |
-16.5% |
$575 |
|
91607 |
7 |
$615,000 |
1.2% |
n/a |
n/a |
$472 |
Posted in Buyer Information, Housing Information/Stats, Blogroll | Print | No Comments »