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Palmdale, CA Real Estate News

By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
0 Vac/Vic Avenue T12/180 Ste Ave Black Butte CA 93591: Accepting Backup Offers... I am super proud of this transaction. First my niche market being a Land Listing and Selling Agent in California and second niche being International Realtor who speaks German & Hungarian got me the listing.Just to be clear in 29+ years this is my smallest list priced vacant lot. I hear my father in the back of my head: Every Dollar is a Dollar! So, with that said what is even more exciting that I told the sellers we need to plan on a year or so to sell it. Well, go figure 13 Days after I listed it we are in Escrow!Directions: Head 138St East to 170th E head North to Ave T head East to 180th St ERemarks: This is the least expensive vacant lot on the market in the 93591-zip code. Truly a fantastic investmen...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 15, 2012 Water and the high desert are is for a ruff summer this year, and need to prepare and save your hard earned money.  Here are some tips on how to start saving: When it rains turn off your lawn sprinklers. Put in a drip systems.  Check out your local water companies some have a rebate program.  Now if you’re really looking to save change out your lawn with a deserts-scrape and don’t for get the high efficiency toilet. Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale  Monthend Numbers Feb Jan '12 Dec Nov Oct Sep Aug July June May Apr Mar Feb Listed  561 601 599 732 797 813 679 631 646 620 561 690 443 Pending  495 581 522...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 14, 2012 Short Sales are here and are going to be a large part of the real estate market in the Antelope Valley, Palmdale and Lancaster for the next few years experts say.  There are some misconceptions running round with seller these days that are just not true.  Janet and I are well qualified with the truth about some of them we have heard, like a homeowner’s credit standing is about the same doing a short sale as a foreclosure.  Not true: in most cases your credit and deficiency are worse with a foreclosure than a short sale.  A completed short sale can frequently lead to quicker financial improvement for the seller and should be measured carefully in there decision to sell.  If now this is a...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 13, 2012 Inventory continues to drop, open escrows are on track and closings are down almost 30% from March 2011.  Over the past few years the real estate market in the Antelope Valley has been ahead of the pack due to its relative small size.  We were hit with foreclosures in 2007 and 2008, and then short sales took over in 2009 and have been holding around 40% of the market.  This current lows down in available inventory is out of the ordinary as we are moving into historical lows…  Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale  Monthend Numbers Feb Jan '12 Dec Nov Oct Sep Aug July June May Apr Mar Feb Listed  561 601 599...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 12, 2012  LeFrancis Arnold the president of the California Association of Realtors was the guess speaker last Thursday in Lancaster.  He along with NAR (National Association of Realtors®) make out against the FHFA releasing bulk owned homes to institutional buyers.  These institutional buyers do not have much interest in the communities as an occupying owner would be.  Furthermore, we are moving through our current inventory right now, we have less then a 4 months supply. The pilot program will start of with 2,500 homes about one-sixth of which are in Riverside & Los Angeles areas.  The homes will be rented for an unspecified time. Janet O'Brian is a Certified Short Sales Specialist in Californi...
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Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 9, 2012 - Day-light saving time starts this Sunday. Yes it is that week end again, we get to have open houses in the evening and get up in the dark.  Summer can’t far off.  Day-light saving time starts this Sunday, March 11, at 2:00a oh sure I’ll get up change all the clocks.  I believe it will end after Halloween… Now if you’re calling or going to Arizona or Hawaii they don’t change their time…  Oh one more thing we all loose an hour of sleep… Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale  Monthend Numbers Feb Jan '12 Dec Nov Oct Sep Aug July June May Apr Mar Feb Listed  561 601 599 732 797 813 679 631 646 620 561 690 443 ...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 8, 2012. Since the news came out about the government making a deal with the banks regarding the illegal robo-singing and foreclosures we are seeing a change in activity in our local real estate mark.  In mid February when the news hit we were showing over 1,500 homes for sale in the Antelope Valley we have drop below 1400 as of today.  We are down 7.23% in less then a month.  We are watching this trend carefully to see what impact it will have going into the spring and summer buying season. Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale  Monthend Numbers Feb Jan '12 Dec Nov Oct Sep Aug July June May Apr Mar Feb Listed  561 ...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 7, 2012. I'm sure you all have heard this before but sometimgs a review is a good thing... The "Pareto Principle" contends that you get 80 percent of your results from 20 percent of your actions. To maximize this 20 percent, use the following tips to give you a competitive edge:    1. Develop a clear idea of what tasks are important so that you can focus on them.   2. Make a to-do chart that categorizes tasks by priority level: High, Medium, and Low. Pay attention to the Highs and Mediums first.   3. Have a clear understanding about what is important to the other members of your work team, associates, or family members. 4. Schedule time to respond to voicemail and e-mail; then don't allow yourse...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 5, 2012. Palmdale adding another school, and is slated to be completed this year.  Funding came from a variety of groups, the Foreign Language Assistance Program (FLAP) grant provided $6.6 million, A capital facilities fund provided $1.6 million for construction,  Dos Caminos School is finished it will have 4 building with 4 class rooms.  The school will start with kindergarten through third grade and will add grades in time. Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale  Monthend Numbers Feb Jan '12 Dec Nov Oct Sep Aug July June May Apr Mar Feb Listed  561 601 599 732 797 813 679 631 646 620 561 690 443 Pending  495 581 52...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
The Index is at 70.8 (base 1985=100), that is up from 61.5 in January. The Present Situation Index increased to 45 from 38.8. Other key indicators rose to 88 from 76.7 in January.  We are seeing better economic data everywhere now. The public’s opinion of the current economics overall conditions was favorable in February.  Even business conditions are “good” increased slightly to 13.3 percent from 13.2%; while those claiming business conditions are “bad” dropped to 31.2 percent from 38.3% Consumer even believe the labor market was also looking better, there seems to be more jobs out there now. The short term folks are happier about the than last month. People are upbeat about the labor market too; they foresee more jobs in the months ahead.  The only issue we can see right is the tensio...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Yes they can be, there is poor uniformity from one experience to the next, and when you toss in the bank on a short sale things can really heat up. Why are so many people involved in a short sale? The chief explanation is that each transaction has a different group of people in the mix. Let’s imagine you’re a coach of a ball team, and for each game, a whole new set of player’s shows up on the field! That is a good idea of how the real estate deal works.   Back in 1975 a federal statute was enacted called Real Estate Settlement Procedures Act (RESPA).  It separates all the bits and pieces of a real estate transaction, agency, lending, title, etc.  It gives the customer more choices and adds competition which we all agree is good for lowing cost. The rub is each player is disconnected fro...
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By Don Gockel, Realtor, Broker, GRI - Antelope Valley Real Estate
(NextHome The Gockel Group - Palmdale Lancaster Quartz Hill -)
West Palmdale, California Real EstateWe here at the Gockel Group, continuously monitor local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find West Palmdale real estate statistics for the last seven days.Total inventory today is: 146   Of these, the number that are short pays is: 75Number of homes entering the market in the last 7 days: 11    Of these, the number that are short pays is: 3Number of homes entering escrow in the last 7 days: 27Number of homes closing escrow (sold) in the last 7 days: 9   Of these, the number that are short pays is: 0Number of homes cancelled/removed/expired/withdrawn from the market in the last 7 days: 7ALL DATA WAS DERIVED FROM THE "GREATER ANTELOPE VALLEY ASSOCIATION OF REALTORS®" AND IS DEEMED R...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 1, 2012. Buyers need to know the perils of escrow the excitement and the uncertainty of something going wrong.  Escrows and go bad for a number of issues, currently we are seeing lending as the biggest obstacle is closing escrow, with the tighter requirements they days even qualified people can be denied.  Repairs can also mess up you closing for first time buyers.  Any red flags that popup can be scary, and asking for every little item to be fixed by the seller might be seen as unreasonable, even more so in a short sale as the seller does not have any cash to repair anything let alone make the mortgage payment.  The well meaning friend, relative or associate can create doubt in mind of the buyer...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley Feb 29, 2012 LEAP YEAR. Here it is Leap Year the 29thof February why do have this anyways? This is a constant source of perplexity. In a normal series of years, a calendar date that falls on a Monday one year will fall on Tuesday the next, Wednesday the year after that, Thursday the year after that, you get the picture. But every fourth year, thanks to the extra day in February, we "leap" over the expected day of the week — Wednesday this year, and that same calendar date lands on Thursday instead. Why such complexity? Because the exact number of days in a solar year is actually ever-so-slightly less than 365.25 (it is 365.242374, to be oddly precise), so the algorithm had to be designed so that every ...
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By Debra Mitchell-Adams, Changing Lives. One Home At A Time.
(JohnHart Realty)
Real estate sales are booming in the Palmdale, Lancaster California market!  Investors, first-time buyers and retirees are swarming to score unbelievable deals on real estate in the Palmdale/Lancaster California market! Investors are buying 10-12 single family homes at a time! First-time homebuyers and retirees are enjoying unprecedented rock bottom prices!  I have borrowed a page out of the HGTV playbook and created a "What You Get For Your Money" video to illustrate the amazing deals waiting for homebuyers in the Palmdale/Lancaster California market! For more information email me at buyahomeca@kwrealty.com  
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley Feb 28, 2012. Senators are introducing legislation to shorten the process of a short sale about time.  Sen. Scott Brown, R-Mass., along with Sen. Lisa Murkowski, R-Alaska, and Sen. Sherrod Brown, D-Ohio have joined forces and have a bill in the works.  The Bill S-2120 aim is to require lenders to shorten the time to get an approval.  This Act may be cited as the `Prompt Notification of Short Sales Act'. And if passed would cut the time to 75 days for approval.  This is one to watch… Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale  Monthend Numbers Jan '12 Dec Nov Oct Sep Aug July June May Apr Mar Feb Jan '11 Listed  601 599 732 797...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Antelope Valley Building Permit History Foretells Bull Real Estate Market The building boom of the late 1980’s (25,118 homes in 3 years) far exceeded the boom of 2003-2007 (17,045 homes in 5 years).  The weakest year during the 1990’s was 1995 at 861 permits pulled.  That is almost 3 times stronger than last year, 2011, the low so far in this down cycle.  During the slow 1990’s, a lot of pent up demand was formed.  If the pent up demand of the 1990’s lead us into the strong market of the 2000’s, how much pent up demand is being developed right now with an even slower market?  In markets, one extreme leads to another this Bear market is creating conditions for the next Bull market.  Source of data: Antelope Valley Building Industry Assoc. bold red= housing boom years 1987- 5,948 1988- 6,...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Are lenders relaxing FICO requirements?  We believe it is starting right now.  We have seen the average credit (FICO) score required to get a home loan at about 700. This is higher than scores needed before to the collapse and has remained for about a year or so.  Also surviving loan broker’s shows FICO scores have been holding steady for the last 3 quarters. Now we are seeing scores under 680.  Additional market indicators also see the home loan stabilizing and show some softening of lending standards and a relaxing of credit availability. Lenders have upped the amount from 3.2 times the income of the borrower to 3.5 times currently. They are also backing off on the loan to value which have been around 75% and now a much as 83% LTV.   This is great news for buyers as lenders are loosen...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley Feb 2, 2012. The Antelope Valley Winery events are in the works, this Saturday the Wine & Chocolate Pairing Class will be held, there will be two more Pairing Classes in 2012, “Extreme Appetizers” and “The Savory Side of Chocolate”.  The Spring Bottling date will also be set sometime in late April or early May and the 2nd Quarter. The Wine Club Re­lease Party will closely follow. Mark your calen­dars for the opening of the 2012 AV Winery Farmers Market on May 5th, 2012, 9am to Noon with a special Opening Day Celebration!  The Farmers Market will be open through the last Saturday in November. Always something happening in the Antelope Valley. Janet O'Brian is a Certified Short Sales Specialist in Calif...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley Feb 23, 2012. Janet and I  have been doing Short sale for over 3 years and what was true in February 2010 still holds today, be wary of short sale scams.  Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale  Monthend Numbers Jan '12 Dec Nov Oct Sep Aug July June May Apr Mar Feb Jan '11 Listed  601 599 732 797 813 679 631 646 620 561 690 443 550 Pending  581 522 572 568 585 542 468 502 518 487 504 414 392 Sold  416 476 467 557 545 413 369 392 374 384 389 299 297 % CHG Month over Month Listed  0.3% -22.2% -8.9% -2.0% 16.5% 7.1% -2.4% 4.0% 9.5% -23.0% 35.8% -24.2% Pending  10.2% -9.6% 0.7% -3.0% 7.4% 13.7% -7.3% -3.2% 6.0% -3.5% 17.9% 5.3...
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By Richard & Janet OBrian, Listing Specialist Palmdale, Lancaster CA
(Home Based Realty)
This seems to be all over the web these days as real estate sites get the word out and, there’s a lot of paid advertising on the Google about getting bucks for selling short. The phrases are all about the same: “Get Paid to Short Sale My Home” is the most prevalent.  Also we see the bank’s name inserted in front like Chase paid me cash to sell short, Wachovia Paid me to Short Sale my home and alike.     Take care, some of what you are seeing is false information; remember “if it sounds too good to be true”.  Chase bank is offering a program currently known as "List Assist" where if you as the seller qualify Chase may (and that’s a big MAY) pay you up to $35,000.00 to complete a short sale.   Qualifications for the Chase Bank short sale program are that your loan must be what is known as...
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