By Alejandro Lazo, Los Angeles Times
|
|
( Raoul Ranoa, Los Angeles Times / December 13, 2011 ) |
November sales rose 0.3% from October and 4.2% from November 2010 with 16,884 homes bought across the region, according to real estate research firm DataQuick of San Diego. Sales of newly built homes suffered, declining 15.2% from a year earlier and falling to the lowest level on record for a November.
"Lower prices and amazingly low mortgage rates tempted those with the confidence to buy and the ability to qualify for a loan, or to pay cash," DataQuick President John Walsh said. "But these sales levels remain subpar, with new-home sales stuck at record lows."
The median home price for the region was $275,000 in November, up 1.9% from October but down 4.2% from November 2010, DataQuick reported Tuesday. The median is the price at which half the homes sold for more and half for less. It is heavily influenced by changes in the type of homes selling.
Sales of homes priced above $500,000 declined almost 16%, which DataQuick said stemmed partly from the difficulty that borrowers have had getting large mortgages.
Nearly 1 in 3 previously owned homes sold last month was a foreclosure and 1 in 5 was a "short sale," in which the property was sold for less than the outstanding debt on the home. Short sales and foreclosures accounted for 51.3% of the market last month, down from 52.3% in October and 53.4% in November 2010.
Specializing in South Pasadena homes for sale and the Los Angeles County real estate market, you have found your realtor resource for buying and selling your next Beverly Hills home or San Marino house. With expertise in realty for both purchasing and listing properties in Beverly Hills, South Pasadena, San Marino, Arcadia, Alhambra, San Gabriel and Monterey Park and all surrounding Los Angeles County, CA areas, you have found the right resource for all of your real estate needs.
With about ten years senior sales experience, I take great pride in helping people achieve the dream of home ownership. I do so with integrity and exceptional service! Whether you are looking for a new Beverly Hills property or San Marino land, or you are in the preliminary stages of a South Pasadena real estate search, you have found the best in professional service.
Personal I was born in Henan province in China and graduated from Henan University with a major in music. After graduation, I moved to GuangDong. Consequently, I'm fluent in Mandarin and Cantonese and would be pleased to assist you in meeting your real estate needs.
Through this real estate web site, you have the ability to search virtually every home for sale in South Pasadena, San Marino, Arcadia, Alhambra, San Gabriel and Monterey Park and all other local areas. In addition to accessing houses and real estate for sale, this web site features comprehensive community information for Los Angeles County areas that can help guide you in making the right buying or selling decision.
This web site features every real estate tool you need when looking at South Pasadena real estate and homes for sale. You can browse exclusive homes for sale, search virtually all South Pasadena area listings through my property search, calculate mortgage payments on your next home with my real estate mortgage calculators, access home buying and selling tips, get tremendous area information about greater Los Angeles County including specific information for South Pasadena, San Marino, Arcadia, Alhambra, San Gabriel and Monterey Park. Furthermore, you can find out how much your property is worth, and access comprehensive information about selecting me as your real estate agent. If you are interested in learning about Los Angeles County, CA schools, this site also offers thorough school information.
Thanks again for visiting and be certain to contact the email or phone number number above for the best in professional real estate service.