TeamResults

This sort of goes in line with other posts I do like recapping the Anderson Report. To give an idea to consumers and professionals what the market looks like, and what people are saying about real estate.

The Boston Consulting Group conducted a survey of 1,007 Americans. Here are the results.

• 55% Believe they could sell their house for more now than a year ago.
• 3/4 Believe they could sell their home within 6 months at a price they set.
• 63% Believe that real estate is a good or excellent investment.
• 69% Said they were likely to renovate or improve their home within a year.
• And finally, 27% said they were likely to purchase a house in the next 5 years.
  

A senior partner at the cosulting group said, "Americans believe their are homes are still their best investment. They're positive about their home's value and believe in a bounce-back in residential real estate, overall,"

John Wall
www.TeamResults21.com 

UCLA released today, the quarterly "Anderson Report", an economic forecast for California's overall economic health. The key points in today's report are:

1.)    Housing sales are expected to be slightly down or flat through next year, a trend we're already seeing in some markets.

2.)    The impact of this real estate downturn had been and presumably continue to have little effect on the rest of California's economy.

3.)    A marginal slowing of job growth has sparked the slightest increase in unemployment. Real Estate related job losses have been in the mortgage business where dozens of companies have gone out of business or filed for bankruptcy. Construction employment peaked last year along with new growth.

4.)    Payroll growth is expected to slow to less than 1% though the report didn't indicate where it is now. Personal income growth will slow to under 3%.

5.)    And now for the good news... The economic picture for is expected to improve by mid-year in 2008 and be back in "normal" growth levels by year's-end. The U.S. Economy will see overall growth above 3% when the Federal Reserve is expected to cut interest rates sometime after the 4^th quarter.

On a side note: I compile this information for the benefit of my clients, friends, and colleagues, who know to take it all with a grain of salt and not rely on anything in these reports. If you would like to access the "Anderson Report" yourself, you can visit http://www.uclaforecast.com/ , or do what I do and wait for someone to send you a 20 page e-mail, so you can translate it for them. Cheers and Thank you for visiting this Blog.

John Wall
CENTURY 21 Results
http://www.teamresults21.com/

New-home sales increased this month in Los Angeles, Orange and San Diego Counties according to an industry report this Friday. According to the report, new-home prices rose year over year in Los Angles, and San Diego counties. These are also the areas in Southern California where builders are more likely to offer non-monetary incentives instead of discounts off sales price.

The new-home median in LA County rose 5.7% from this time last year, contrasted by Riverside County's 4% decline since last April. Patrick Duffy, director of a Costa Mesa research firm said to the Los Angeles Times, "In general, it's those areas located close to job centers that will negotiate the current slow down..."

New-Home Sales only make up about 15% of all real estate sales transactions, but their numbers are watched closely by real estate experts because major price swings can help assess trends in other real estate markets.

John Wall, Realtor
TeamResults@Century21.com
www.TeamResults21.com

2 Bedroom, 1 Bathroom House 1,026 Square Feet $479,000 Offered by TeamResults.

Attractive home in the Lakewood Mutuals with some unique features. There are beautiful hardwood floors and a raised dinig area. Living room has a fireplace and a view of a private enclosed, outdoor garden. Grounds have been landscaped and well maintained. There are dimmers on the recessed lighting. Inside laundry. Home is a great starter home near to schools, shopping, entertainment and transportation. All appliances included.

One of the few remaining affordable starter homes in Lakewood; Adjacent to Lakewood Country Club.

For more information or to schedule a private showing; E-Mail TeamResults@Century21.com or
call (562) 896-3886. For E-flyers or property analysis visit www.teamresults21.com.