Comments on: A Look at Los Angeles Supply and Demand http://blog.redfin.com/losangeles/2008/12/a_look_at_los_angeles_supply_and_demand.html Redfin Los Angeles Sweet Digs Sun, 22 Nov 2009 17:43:07 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Raffi http://blog.redfin.com/losangeles/2008/12/a_look_at_los_angeles_supply_and_demand.html/comment-page-1#comment-21991 Raffi Fri, 16 Jan 2009 05:14:02 +0000 http://blog.redfin.com/losangeles/2008/12/a_look_at_los_angeles_supply_and_demand.html#comment-21991 Remember, the last real downturn we had in the 1990s, after it finally bottomed out, it still took a few years for prices to actually start their insane rise as this bubble grew. There should be no huge rush of properties being "snatched up", but more like a slow pecking... Remember, the last real downturn we had in the 1990s, after it finally bottomed out, it still took a few years for prices to actually start their insane rise as this bubble grew. There should be no huge rush of properties being “snatched up”, but more like a slow pecking…

]]> By: Michael http://blog.redfin.com/losangeles/2008/12/a_look_at_los_angeles_supply_and_demand.html/comment-page-1#comment-21398 Michael Thu, 18 Dec 2008 22:22:22 +0000 http://blog.redfin.com/losangeles/2008/12/a_look_at_los_angeles_supply_and_demand.html#comment-21398 Can you do some analysis by area as well? One of the comments we've heard is that outlying areas (e.g., Antelope Valley) are dominating sales by volume (and thus the median prices are determined there). Within LA, the higher-end markets are showing smaller declines (some people say these areas are delayed by up to 2 years.) For the very high end, First Republic Bank maintains a "prestige home index" which might be an interesting start for a comparison: http://www.firstrepublic.com/lend/residential/prestigeindex/losangeles.html Can you do some analysis by area as well? One of the comments we’ve heard is that outlying areas (e.g., Antelope Valley) are dominating sales by volume (and thus the median prices are determined there).

Within LA, the higher-end markets are showing smaller declines (some people say these areas are delayed by up to 2 years.)

For the very high end, First Republic Bank maintains a “prestige home index” which might be an interesting start for a comparison: http://www.firstrepublic.com/lend/residential/prestigeindex/losangeles.html

]]> By: siguy100 http://blog.redfin.com/losangeles/2008/12/a_look_at_los_angeles_supply_and_demand.html/comment-page-1#comment-21394 siguy100 Thu, 18 Dec 2008 18:55:19 +0000 http://blog.redfin.com/losangeles/2008/12/a_look_at_los_angeles_supply_and_demand.html#comment-21394 Don't forget that the 'No foreclosure over the holiday period' policy that is in effect as well as the law about 30 days notification of foreclosure that has put a bunch of homes on hold. There is a huge shadow inventory building up out there. It will be interesting to see what happens in January and February. Perhaps all of the backup will come on the market all at once? My prediction is a little longer than yours. Maybe 18 months. People are going to wait and see what happens with the ARM resets. Once that impact is sorted out, people will step up a lot more to snap properties up. Just my 2 cents... Don’t forget that the ‘No foreclosure over the holiday period’ policy that is in effect as well as the law about 30 days notification of foreclosure that has put a bunch of homes on hold. There is a huge shadow inventory building up out there. It will be interesting to see what happens in January and February. Perhaps all of the backup will come on the market all at once?

My prediction is a little longer than yours. Maybe 18 months. People are going to wait and see what happens with the ARM resets. Once that impact is sorted out, people will step up a lot more to snap properties up.

Just my 2 cents…

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