Local Real Estate News January 2012

Possible outcomes for Home Values in 2012!

January 2012 Real Estate Report

Wow!  If you are not excited about buying real estate in Downey and surrounding areas after looking at this graph, we don’t know what else we could possibly show you to help you make a decision.  Since the “Bubble” burst, property values slightly rebounded in the spring and early summer of 2010.  Of course, some would argue that the reason for that rebound is because of the tax credit that was being given at that time to those that purchased a home. 

Since September of 2010, you’ll notice that sales prices began their decline once again starting their decline around $322,000 to the current December 2011 average sales value of $300,778.  In 2011, there was a small drop in values of about 3.5% if we look at January 2011’s average sales price and compare it to Decembers average sales price.  So overall there wasn’t too much of a drop in home sales values on 2011 but with news speculation that there are going to be a lot more foreclosed properties in 2012, we may see that downtrend continue as we continue throughout the year. 

We encourage you to please contact us with any questions you may have about the market.  We love to answer questions and educate buyers and sellers on the right move they should make.  We are experts in our market area so please take advantage!    


Graph above is based on MLS data for the following cities:  Bell, Bellflower, Bell Gardens, Cerritos, Downey, La Mirada, La Habra, Long Beach, Lakewood, Montebello, Norwalk, Paramount, Pico Rivera, Santa Fe Springs, South Gate, and Whittier.  

 

HAFA Program Review. Do you qualify?

 

In this video blog Chris Gonzales does a quick review of the HAFA program that was implemented in 2010.  These days programs seem to be coming out of the wood works and it's challenging for home owners to know them all, but this is a very important program that is crucial to know about, especially in the challenging economy that we are in today.  There are certain criteria that need to be met before a bank will allow you to use the HAFA program.  Click on the video to learn more about the program, how it can benefit you, and what to expect in the package when the bank mails it to you...

 

 

 

Certified Distressed Property Experts

In this real estate market you need someone working for you that knows how to negotiate with your bank in your best interest.  A Short Sale can be a very long, stressful and complex process.  Maria and her team have a special designation, recognized by banks across the nation of being Certified Distressed Property Experts.  Maria has been helping people negotiate settlements on their homes, saving them from foreclosure and saving their credit ever since this real estate market took a turn for the worse for home owners. 

Experts say that this market is going to stay the way it is for at least another 2 years and buyers will be seeing more and more short sales when they search for homes on-line.  Currently almost every house on the market is a short sale and many home owners are having to make very tough decisions with their homes.  They have to decide on whether or not they want to keep making payments on a home that they paid twice the value than it is worth in today's market, or face the consequences of giving their home up. 

If you are contemplating on doing a short sale on your home or if you have any questions on how the process works, please speak to us before you make a decision.  It is extremely important that you work with someone that knows how to negotiate with your bank on your behalf.  Don't make the mistake of hiring a part time agent, or a family member that does real estate on the side just because you may already know them.  We have come across many sellers that regretted making a decision to work with a friend or family member that doesn't really know how to handle this real estate market.  They were upset mostly about all the time that was waisted, by nothing being done properly to effectively sell their home.  

Hire a professional that knows the "In's and outs" of this business.  We understand that many people are hurting out there and it is our desire to help people stuck in these difficult circumstances, to get out as smoothly and as easy as possible. 

Please feel free to contact Maria anytime with any questions. (877) 883-1003

 

Contact Information

Photo of Chris Gonzales & Maria Palacios Real Estate
Chris Gonzales & Maria Palacios
Prudential California Realty
16911 Bellflower Blvd
Bellflower CA 90706
(877) 883-1003
Fax: 562-381-9113