Palos Verdes Real Estate

Applications for home mortgages surged last week https://therealdeal.com//applications-for-home-mortgages-/

New Low Price $2,000,000 1135 Paloma dr, Arcadia 91007 (Lower Rancho area) totally renovated 2015, circular driveway 6 bedr 6 baths, 3,675 sqft (4 of which are en-suite, 1 located downstairs)... attached 3 car garage high ceiling living room with stylish French windows with view huge landscaped back yard w/ sparkling pool, lot size 12,000. See more

California clears nail salons to reopen, but Los Angeles County still restricts them https://abc7.com/nail-salons-when-can-open-are-in-la-cou//

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate? Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home ...values depreciating by more than 6% (CoreLogic). However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As Mark Fleming, Chief Economist at First American, recently revealed: The only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Have prices continued to appreciate so far this year? Last week, the Federal Housing Finance Agency (FHFA) released its latest Home Price Index. The report showed home prices actually rose 6.5% from the same time last year. FHFA also noted that price appreciation accelerated to record levels over the summer months: Between May & July 2020, national prices increased by over 2%, which represents the largest two-month price increase observed since the start of the index in 1991. What are the experts forecasting for home prices going forward? Below is a graph of home price projections for the next year. Since the market has changed dramatically over the last few months, this graph shows forecasts that have been published since September 1st. https://prnt.sc/uq8nvv

SoCal homes prices again set all-time high, jumping 12.1% from last year despite global pandemic https://ktla.com//socal-homes-prices-again-set-all-time-h/