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The Playa Del Rey, CA Condominium Market Report for February 2011& Economic Commentary by Endre Barath, Jr.

Posted on Mar 5, 2011 by in Active Rain | 0 comments

The Playa Del Rey, CA Condominium Market Report for February 2011& Economic Commentary by Endre Barath, Jr.

As those of you who read my last month’s commentary you know I was expressing concerns about certain economic and political events. In case you missed it here is the link for you http://actvra.in/4T6

In order that the real estate market could continue in the right direction I put the following contingency in…. The key will be as long as interest rates remain low, you can take advantage of the better affordability of Condominiums as well as Single Family Residences. This of course is beneficial to the buyer as well as the seller who has owned their home for a longer period of time……

As last month’s numbers indicate the Economic Recovery is continuing and the Interest Rates are holding steady. So with that said, for the Month of February there were 51 Active Listings vs. 53 the previous month. This is almost identical for this small beach side community.

The Properties which were accepting backup Offers were 8 just as the previous month’s 8. The solid Pending numbers were almost identical as well last month’s 5 vs. this month’s 6.

Of course the most interesting and watched number are the SOLD ones interestingly they were almost identical as well. Last month’s sold consisted of 7 vs. this month’s 5.

Now with that said I would like to caution every one: Real Estate is becoming globally influenced

As we speak the President of the National Association of Realtors is in Singapore and he will be visiting Malaysia next. He understands that the Global agenda impact our bottom line locally. So I will be very interested how the Middle East crisis will affect the Housing Trends for the next few months.

If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com  or visit one of my websites at http://www.endrebarath.com  Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations

 

 

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