Real Estate Information

Over the past several months I've heard "real estate experts", and even some brokers proclaim that Glendale real estate buyer's will be sitting on the sidelines this year to see who is elected president. And many of them have proclaimed that every election year is a slow year for Glendale real estate.  I've questioned the validity of those comments and look back to the 2004 election year.  One of the hottest years in real estate ever.  Many economists have done studies of the impact of a president on our general economy.  They have determined that the President's impact on the economy is generally negligible.  As little as a 2-2.5% impact on the whole. 

So why would people wait to buy a house base on the presidential election. Simple, procrastination.  No one likes to make big decisions, so they make excuses.  In reality election years are probably some of the best times to buy real estate in Glendale and the surrounding areas.  As one of my friends says, "what's bad for Wall St. is good for Main St.".  Meaning the real estate market.  Often election years are filled with uncertainity.  Wall St. does not like uncertainity so we see wild fluctuations in the market.  Already this year the stock market is down quite a bit.  Not much of this is downturn is necessarily attributable to the Presidential elections I'm sure.  However, when the stock market begins to have problems there's a flight to quality.  Namely U.S. Treasury Bonds. When people start buying U.S. Treasury Bonds it drives the yields, or interest paid on the bonds, down.  The 30 year fixed loan rates are tied to the 10 year treasury bond.  So when the 10 year bond rates fall so do mortgage rates.  Typically when mortgage rates fall the housing market booms. Bad for Wall St, good for Main St.

Right now we are seeing a rare series of events in the housing market, with interest rates dropping and housing prices falling.  In the immortal words of John D. Rockefeller, "when there's blood on the street, that's the time to buy."  And right now there's a lot of blood on Main St.

On Wednesday, the office at Arbitrage was closed for 3 hours as we made our way to MB2 Raceway in Silmar to go carting as we celebrated Albert's 34th Birthday.  If you're looking for some quick fun and excitement MB2 is a thrill.  One of Albert's passions is cars, and that is why they surprised him and took him to the raceway.

After 24 laps among two separate races, with speed exceeding 50 MPH, Albert came in 1st place from the group.  It was fun and exhilarating to get away from the office during a LOOOOONG lunch break; however, it was all worth it... especially after having such a crazy year already.

Happy Birthday Albert!

 

 

It's Friday, approximately 3:30 p.m. and I'm headed out the door.  Before I do so, I want to wish you and your families a Happy Easter.  Today is Good Friday; however, this entire week has been GOOD to us as we closed another set of sales totalling over $2,000,000.

I'll be in town this weekend if you need talk.  Take care and have an awesome weekend!

 

We're excited about the realase of our new MLS Market Snapshot (as you can see on our home page).  Sellers and buyers can easily get access to recent market activity by simply logging in and requesting the data.  A report is subsequently emialed each individual in approximately 10 minutes.  Fast, easy, and informative... check it out!

Here's a sample of how it sort of looks.  Each area is different based on your own search criteria!

Call me if you need further help.  In the meantime, we're still looking for new and fun ways of making Real Estate exciting and easy!....

See you soon!

I'm really excited!  In the first 50 days of 2008, we've already sold over $10,000,000 of real estate and we're only getting busier.  This has been our busiest year so far and we only expect to get busier.  Yes, houses are still selling and buyers are still buying!  We're currently negotiating to more propeties and I hope to have a few more escrows lined up by Monday.  Have a dry weekend!

We just sold another property over the weekend thanks to a referral.  900 Cavanagh went into escrow just days after we listed it.  The buyer, an old friend of Albert's ended up purchasing the home.  We had a great number of people who came to the open house and we thank everyone for helping us get this home sold.  We expect to close in 30 days!!!  Yaaaay!

We will be having an open house this Sunday at 900 Cavanagh Road in Glendale.  This home has 3 bedrooms, 3 baths, and it's only priced under $900,000.... Come on by!

I'm really excited to launch our new website.  The website has virtually all the links imagineable and it's really easy to navigate with.  We've spent the last 5 months refining our website with the hopes of making real estate easy, fun, and exciting.

In addition, I'm also excited about launching my first blog site.  I've seen them before; however, I haven't had the opportunity to set one up myself!  Have a great week!