www.SellinLA.com NEWSLETTER
Real Estate News You Can Use:  Issue Number 6:  January, 2009
John A. Lucy, Keller Williams, Hollywood Hills/Sunset Strip, California
310-623-1376 JohnALucy@KW.com 310-415-7691

Dear Clients, Friends, Neighbors, Associates:
 
1. Happy New Year to All!
What a relief to be moving on after such a year of turmoil, especially in the housing and financial markets.  I am very excited over the prospect of a new governing administration, and my own move to a new company.
 
2. A lot of hard work and a different way of doing business:
I pledge to do my part, continuing to provide:

REAL Marketing Plans and Analysis
REAL Proven Strategies and Advice

REAL Competitive Pricing and Negotiation

REAL Service and Communication

REAL Opportunities and Goals

3. Small consolation:
As the Dow Jones dropped 33% this past year, home prices in Los Angeles County's top tier (above $530,000) fell 21% from October 2007 to October 2008.  From the market peak in June 2006, this price bracket in which most Westside homes belong, has fallen 24%.  I guess there is a tarnished silver lining there somewhere.  Perhaps the historical Case-Shiller index comparing January 2000 prices as a baseline of "100" versus the October 2008 index of "179.82" will help keep the value of owning real estate in perspective.  And do not forget that these prices are overly influenced by the continuing drag of low priced foreclosure sales, not the normal buyer/seller transactions.

4. And a little more good news:
Although qualifying for a purchase loan or refinancing has become much more stringent, rates for conforming loan amounts have dropped to their lowest level since the in fifty years.  In some cases as low as 5.01% for 30 year fixed loans with great credit and at least 20-25% equity.

5. If you are a buyer:
You could find some great price discounting from distressed sellers.  However your choices will be limited to those "must sell" homes rather than a broad spectrum of wonderful houses.

6. If you are a seller:
You could make up the loss with the purchase of another discounted home, better than your last one.  If you are in distress, check with your tax advisor on new rules forgiving tax obligations on part of your loan balance.

Let me know how I can help:
The Finest Compliment I Can Receive is a Referral from Past Clients and Customers. Thank You for your Trust.--John.
Please rest assured that your personal information is secure with me, and that this is not part of any outside vendor connection.  Please feel free to discontinue these mailings at any time by sending a quick "opt out" email to me at JohnALucy@KW.com, or by leaving me a voice mail at my direct phone number 310-623-1376.

 

"Putting the REAL back in Real Estate"

Each Keller Williams Office is Independently Owned and Operated.