Great post. Can you make any predictions for the westwood housing market in 2009?

Thanks,

Sam

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I apologize if you thought I was trying to mislead you by not announcing that I was an agent. I have disclosed many times on previous posts that I am an agent. I have nothing to hide nor was I trying to. Additionally, you can click on my name in my posts or on my blog url in my previous post to get further information about me.
Regarding the information I mentioned in this post or have posted in the past, I thought it would be beneficial to have some actual facts about what’s going on in this particular neighborhood that’s being discussed, Westwood. What I present are the facts. You can make your own opinions or assumptions about them, but the truth remains that the market has been very busy in Westwood. I’m not sure how you can say with a straight face that the market is not strong in Westwood when there have been several homes going multiple offers in the past few weeks, as well as homes selling in the first few weeks of being listed. I had a listing on Tennessee that sold on the very first open house in the beginning of February at full price. A listing a block down from my listing came on the market just after mine was listed and sold the first open house as well with a few offers. A listing around the corner from mine on Kerwood came on shortly after that and sold before the first open house with an offer and a backup offer in place. I can go on and on about 15 other homes that have gone into escrow like that in the past 4 weeks. Now if that is not a hot or healthy market, then I don’t know what is. The average days on market for sold properties are approximately 25 days. Right now there are 28 homes currently in escrow in Westwood and 37 total active properties.
So I’m sorry to have to report conflicting information as to what the media reports on a daily basis, but these are the facts. And Westwood isn’t the only neighborhood on the Westside that is seeing this kind of activity. I hear and see on a daily basis other communities such as Cheviot Hills, Brentwood, Mar Vista, and Beverly Hills with similar activity. The national market may not be doing as great as a whole, but again I must repeat that real estate is local. There are many neighborhoods, cities, regions where the market is actually quite strong across the country.
Now I can’t predict the future and tell you what Westwood will be like in 2 months, 6 months or a year from now. But all I can do is report about what’s happening now. And right now the market here is very healthy.
If you have any questions, I would be happy to attempt at answering them. Thanks for your time.
http://westwoodmarket.blogspot.com

Why not be upfront and tell us that’s your job?

Year-to-date condo stats for all of Westwood are as follows.

2008 Sales Volume through the end of Feb 08 – $37,688,500 vs. Feb 07 – $72,846,914. So its almost 50% less sales in volume over last years ytd. BUT, lets look at median price. Feb 08 ytd – $747,500 vs. Feb 07 ytd $733,187. Price is up a few percent.

Again, the main message here is not doom and gloom here on the ‘Westside’. The news reports the blood and the doom. We must remember that real estate is local and that it is important to work with a knowledgable agent you can tell you whats going on in a particular market.