Comments on: Los Angeles Real Estate: Hot or Not? http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html Redfin Corporate Blog Sun, 22 Nov 2009 20:09:04 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Los Angeles Lofts http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-4263 Los Angeles Lofts Thu, 30 Oct 2008 06:34:44 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-4263 If you check out Zillow these days you can actually see teh market has leveled out in the valley and teh city is starting to witness a bit of a rise. There are still going to be fluctuations, but the time to buy is here now. if only we could qualify for a loan. If you check out Zillow these days you can actually see teh market has leveled out in the valley and teh city is starting to witness a bit of a rise. There are still going to be fluctuations, but the time to buy is here now. if only we could qualify for a loan.

]]> By: Los Angeles Lofts http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-4262 Los Angeles Lofts Thu, 30 Oct 2008 06:32:55 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-4262 Those who wait for the bottom of teh market always seem to get in the game a bit too late. Buying is a down market is intelligent, but missing the ride to the top is the worst mistake you could make. Those who wait for the bottom of teh market always seem to get in the game a bit too late. Buying is a down market is intelligent, but missing the ride to the top is the worst mistake you could make.

]]> By: Phyllis Harb http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-3401 Phyllis Harb Fri, 18 Jul 2008 14:55:24 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-3401 Great post!!! Although, I think 10 days would be more accurate assessment (due to some Realtor's) lag time of posting sales in the multiple listing service. But very interesting assessment. Great post!!! Although, I think 10 days would be more accurate assessment (due to some Realtor’s) lag time of posting sales in the multiple listing service. But very interesting assessment.

]]> By: Turkey real estate market is growing http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-3083 Turkey real estate market is growing Wed, 28 May 2008 17:57:55 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-3083 Come and invest in Turkey. You get more profit in a short time. :) Come and invest in Turkey. You get more profit in a short time. :)

]]> By: LA Home Search http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-3024 LA Home Search Wed, 07 May 2008 01:07:37 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-3024 this article is missing the point. You need to study the real estate market one neighborhood at a time. this article is missing the point. You need to study the real estate market one neighborhood at a time.

]]> By: Red http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-2995 Red Wed, 30 Apr 2008 22:12:52 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-2995 MATT! NO. BAD BOY. The price of a home is NOT the monthly payment. You are not renting. Many of the pathetic foreclosures made the same mistake, bought for too much with low interest rates. A 10% drop in the price of a home can eat your entire downpayment or put you way down in a hole, making it impossible to sell, refinance, or pull any cash out in an emergency. Say you bought for $700000 at 5%, no down, got an interest only loan; thats only $35,000 a year. Or waited, and bought for $630,000 at 6.5%, costing $40,950 a year. Sounds bad, doesn't it? But the difference is only $5,950 a year. It will take 12 YEARS for the low interest rate to make up for the 10% loss in value. Most people do not stay that long in a home. Or they can get a chance to refinance at the lower rate if they do. Don't even think about what happens if the $700K purchaser bought with a variable rate loan, or seller buy down rate... MATT! NO. BAD BOY. The price of a home is NOT the monthly payment. You are not renting.
Many of the pathetic foreclosures made the same mistake, bought for too much with low interest rates. A 10% drop in the price of a home can eat your entire downpayment or put you way down in a hole, making it impossible to sell, refinance, or pull any cash out in an emergency.
Say you bought for $700000 at 5%, no down, got an interest only loan; thats only $35,000 a year.
Or waited, and bought for $630,000 at 6.5%, costing $40,950 a year. Sounds bad, doesn’t it? But the difference is only $5,950 a year.
It will take 12 YEARS for the low interest rate to make up for the 10% loss in value. Most people do not stay that long in a home. Or they can get a chance to refinance at the lower rate if they do.
Don’t even think about what happens if the $700K purchaser bought with a variable rate loan, or seller buy down rate…

]]> By: sfvrealestate http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-2974 sfvrealestate Sun, 27 Apr 2008 16:17:11 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-2974 Re the newer/older question, yes, I do think it's because Boston is older. The areas you discuss in Los Angeles had their big growth spurts from the late 1930s to the 1950s. Re the newer/older question, yes, I do think it’s because Boston is older. The areas you discuss in Los Angeles had their big growth spurts from the late 1930s to the 1950s.

]]> By: Matt Simmons http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-2973 Matt Simmons Sun, 27 Apr 2008 00:27:54 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-2973 A lot of people are waiting on the sidelines to buy out of fear of a 10 or 20% drop over the next few years. However, we have already experienced a double digit drop in prices. AND interest rates are often more important to your monthly payment than the amount you paid for the home. A half % increase in interest rates is about equal to a 10% drop in prices. Tomorrow's interest rates could easily be about 1.5% higher than they are today - especially at the rate we are borrowing money from Dubai and China. Take a look at this mortgage calculator to determine whether now is a good time to buy or if you should wait it out: http://www.qzaki.com/Archive/when_to_buy_calculator.xls A lot of people are waiting on the sidelines to buy out of fear of a 10 or 20% drop over the next few years. However, we have already experienced a double digit drop in prices. AND interest rates are often more important to your monthly payment than the amount you paid for the home. A half % increase in interest rates is about equal to a 10% drop in prices. Tomorrow’s interest rates could easily be about 1.5% higher than they are today – especially at the rate we are borrowing money from Dubai and China.

Take a look at this mortgage calculator to determine whether now is a good time to buy or if you should wait it out:

http://www.qzaki.com/Archive/when_to_buy_calculator.xls

]]> By: Los Angeles Real Estate: Hot or Not? | REAPoint http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html/comment-page-1#comment-2972 Los Angeles Real Estate: Hot or Not? | REAPoint Sat, 26 Apr 2008 19:01:27 +0000 http://blog.redfin.com/blog/2008/04/los_angeles_real_estate_hot_or_not.html#comment-2972 [...] admin wrote an interesting post today onHere’s a quick excerptThat there are distinct areas and house types where properties still sell fast, which continues to support our reason for doing this study in the first place — the real estate market isn’t really clinically depressed; it’s more of a … [...] [...] admin wrote an interesting post today onHere’s a quick excerptThat there are distinct areas and house types where properties still sell fast, which continues to support our reason for doing this study in the first place — the real estate market isn’t really clinically depressed; it’s more of a … [...]

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