Local Real Estate News June 2010

A visusal perspective of 2008-2010

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June Real Estate Report
We have spoken with many buyers and sellers over the past month who have been expressing to us that they are noticing some stability in home values as they have been shopping for homes the past few months.  According to the graph below and SoCal MLS reports, it is quite accurate to say that we have hit a point of stability in the market.  The average sales price for homes for the month of May was $321,288.  That is a drop of 1.1%  from the previous month.  With that decrease in home values being very minuscule, and looking back at home values for the previous months of 2010, it is looking like there is a settling in home values and the market is much more stable.  
The graph below shows a monthly average sales price history for homes located in the cities, of Downey, Lakewood, South Gate, Whittier, Pico Rivera, Montebello, Norwalk, Bell, Bellflower, Cerritos, La Mirada, La Habra and surrounding areas, from April 2008 to May of 2010.    

 

 

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