Weekly market report for Northeast Los Angeles

The market has awakened slightly from it's holiday slumber! We are seeing slight increases in new listings, houses that are back on market, price reductions, and solds. Total inventory and pending/backups remained steady. January 6, 2013

• New listings: 23
• Back on Market: 9
• Price Reductions: 7
• Pending/Back up: 21
• Sold: 27
• Total available inventory: 189

LosAngeles-Real-Estate-report_1-6-14b

See the December stats after the jump .

December 30, 2013

• New listings: 15
• Back on Market: 5
• Price Reductions: 5
• Pending/Back up: 22
• Sold: 18
• Total available inventory: 193

December 23, 2013

• New listings: 21
• Back on Market: 6
• Price Reductions: 15
• Pending/Back up: 40
• Sold: 37
• Total available inventory: 228

December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Weekly market report for Northeast Los Angeles

This week's numbers are an anomaly as we reach the lowest activity with Christmas and New Years. We present to you in pure form: the past week's numbers. December 30, 2013

• New listings: 15
• Back on Market: 5
• Price Reductions: 5
• Pending/Back up: 22
• Sold: 18
• Total available inventory: 193

See the stats from previous December dates after the jump.

December 23, 2013

• New listings: 21
• Back on Market: 6
• Price Reductions: 15
• Pending/Back up: 40
• Sold: 37
• Total available inventory: 228

December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Weekly market report for Northeast Los Angeles

In our final full week of 2013, the market is appearing steady despite slight market resistance due to price reductions. A healthier economy is keeping the real estate market strong; we see an increase in pending and backup sales. December 23, 2013

• New listings: 21
• Back on Market: 6
• Price Reductions: 15
• Pending/Back up: 40
• Sold: 37
• Total available inventory: 228

Happy Holidays!

Holiday-Email-header

See the stats from previous December dates after the jump.

December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Federal Reserve easing off on bond purchases

federal-reserve

As a sign of increased confidence in a stabilizing economy, the Federal Reserve is cutting back on its $85 billion per month bond-buying stimulus programs. This is the third round of easing off; the policy began in September 2012.

Beginning in January, the Federal Open Market Committee is tapering purchased of Treasury and mortgage-backed securities by $5 bill each, a 12.5% cut for the latter. Zero interest rates on Federal lending will remain unchanged.

It’s not a huge move – further cutbacks are expected in the future, it’s just unclear when that will happen as unemployment is still high and there is more recovery that needs to occur.

Los Angeles Sues Largest Banks For Discriminatory Lending

losangeles-sues-banks

Six years after the housing bubble, the residual effect of the crisis lingers.

The City of Los Angeles sued Citigroup, Wells Fargo, and Bank of America recently in U.S. Federal Court. City Attorney Mike Feuer alleges that banks "engaged in a continuous pattern and practice of mortgage discrimination in Los Angeles since at least 2004 by imposing different terms or conditions on a discriminatory and legally prohibited basis." One citation is a study which estimates the more than 200,000 foreclosures in Los Angeles during the foreclosure crisis resulted in $78 billion in decreased home values, $481 million in lost tax revenue, and $1.2 billion in additional services to maintain vacant and foreclosed properties.

The banks deny the allegations of discriminatory lending.

"These lawsuits send the firm message that we will use every tool at our disposal to fight for all Los Angeles taxpayers and neighborhoods," Feuer said.

Weekly market report: The holidays are here!

Fewer properties are going into escrow as we approach Christmas and the New Year. New listings dropped to 22 from the previous 46, with back on market, price reductions, and pending/back ups trailing slightly lower. Solds and available inventory remained steady at 39 solds and 242 available. December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

See the stats from previous December dates after the jump.

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.