Los Angeles County housing prices are on the rise. The median price of a home in Los Angeles County rose by 7% in December, compared with the same month a year ago, while the number of homes sold jumped by 3.5%.
According to CoreLogic DataQuick, the median price of a Los Angeles County home was $460,000 last month, up from $430,000 in December 2013.
So, if you’re in the market to buy a home, please contact me as prices may continue to rise. And with the record low interest rates, this is a great time to get into a new home.
I love to find the perfect home for you and make the process as easy and pleasant as possible.
The California Association of Realtors® released its 2013 California Housing Market Forecast for 2013.
California housing market to continue improvement; lack of inventory to hamper sales
LOS ANGELES (Oct. 2) – California’s housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 California Housing Market Forecast”.
“The market has improved moderately over the past year, and we expect that to continue into 2013,” said C.A.R. President LeFrancis Arnold. “Sales would be even higher if inventory were less constrained in REO-dominated markets, particularly in the Central Valley and Inland Empire, where there is an extreme shortage of available homes. Sales will be stronger in higher-priced areas, where there are more equity properties and a somewhat greater availability of homes for sale.”
“Housing affordability has never been stronger – with record-low interest rates and favorable home prices, combining to create a once-in-a-generation opportunity to buy a home in California,” said Arnold.
I read this interesting News Genius article about how foreclosed homes are contributing to the spread of the West Nile virus: a Los Angeles area home owner said that the abandoned, foreclosed home next door gave her the West Nile virus.
Debbie Davis said the foreclosed home has had an algae-green pool for months, and despite her numerous calls to the city code-enforcement officials as well as public health and bank officials to clean it up, no one has stepped up to do it. She and several of her neighbors have been trying to get city officials and the bank that owns the home to clean up the dirty pool for months in the neighborhood of million-dollar hillside homes.
Davis said when she tried to donate blood recently, doctors informed her that her blood contained the West Nile virus. She’s blaming the next-door pool for becoming a breeding ground of mosquitoes that gave it to her. The virus, which can be deadly, can be transmitted by mosquitoes. She has experienced headaches and fatigue. Another nearby neighbor says they are awaiting to hear results on whether their 17-year-old son, who has been experiencing symptoms, also has West Nile.
Meanwhile, a spokeswoman for the county’s mosquito abatement district told reporters that it has been treating the pool on a monthly basis, pouring chemicals in the pool that aim to kill mosquitoes. “There could be West Nile virus in that area — but it may not have come from the pool next door,” says a spokeswoman for the Greater Los Angeles County Vector Control District.