Southern California Luxury Homes

You can play this video to learn how to use this map

THIS IS WHERE THE SPATIAL MATCH SEARCH MAP WOULD DISPLAY – GO TO MY ORIGINAL CONTENT TO USE THE FUNCTION http://www.homeispalosverdes.com/southern-california-luxury-homes-2000000/

Southern California Luxury Homes

For a LIVE update on the top priced quartile of homes in the Palos Verdes Estates market, here’s what’s happening with…

• Inventory
• Prices
• and the proprietary MarketActionIndex™

If you have any questions about how to interpret the below chart, you can go here

This map will automatically update every Sunday night / Monday morning

So what is the Market Action Index especially as it relates to Southern California Luxury Homes?

Market Action Index Definition (MAI)

We developed the MAI so you immediately know if it’s a Buyer’s or Seller’s market. 30+ indicates a Sellers market for Southern California Luxury Homes

One of the unique market statistics provided in the Altos Market Reports our proprietary Market Action Index (MAI). Some of our subscribers ask about this stat and why we created it. In short, there are times in a market (both city and zip code level) that some of the key market stats that we use to analyze a market run counter to each other. This is especially true for the Southern California Luxury Homes market

Perhaps median price is increasing at the same time that inventory levels are increasing while days-on-market is relatively flat. Using these three market stats individually makes it difficult to determine what is exactly is going on. We developed the MAI to roll together some of these key stats (and a few others) to generate a number, indexed to 30?, to determine if the local market is trending towards a buyer’s market or seller’s Southern California Luxury Homes market.

From our reports: Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors.

The Market Action Index (MAI) illustrates the balance between supply and demand for Southern California Luxury Homes, using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a Seller’s Market (a.k.a. Hot Market) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a Buyer’s Market (a.k.a. Cold Market) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.

Keep in mind that an MAI value close to 30? probably means that the local market is balanced or neutral. So if the MAI for your local market is somewhere between 27-33, then it’s likely to be either a buyer’s market or seller’s market based on the individual street or home area that a particular property is in.

+George Fotion

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Original Content Site: George Fotion, HomeIsPalosVerdes.com

Palos Verdes Foreclosures Updated 9/17/2013 (Go to bottom of page to view macro economic foreclosure information)

Some data may not display here properly; Original Content posted here: George Fotion, HomeIsPalosVerdes.com

For more information on specific foreclosure properties, please visit Palos Verdes Foreclosures and South Bay Foreclosures Email or call for more detailed charts OR for charts specific to your city. Added note, the last chart is the most interesting for investors. Let me know if you have questions!

INVESTORS – Are you aware of how to benefit from “Short Sales”?

IF you would like more charts for your own city, just let me know… For each city, the following charts are available…. number of filings, outcomes, inventories, bid results, timeframes, by square foot, by year built, by loan balance, bedrooms, by estimated market value, by loan origination date, and foreclosure discounting…

Review the latest Palos Verdes Foreclosures trends, use our directory of California counties to see local foreclosure trends or search foreclosure listings for any City or ZIP code in the state. Our California housing and demographics data will help you understand the California real estate market. For more information on specific foreclosure properties, sign up for my Palos Verdes Foreclosures search utility Palos Verdes Foreclosures Filings—Notice of Default filings are the first step in the foreclosure process. Notice of Trustee Sale filings set the date and time of an auction, and serve as the homeowner’s final notice before sale.

Palos Verdes Foreclosures charts

Palos Verdes Foreclosures Outcomes—After the filing of a Notice of Trustee Sale, there are only three possible outcomes. First, the sale can be Cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements. Alternatively, if the property is taken to sale, the bank will place the opening bid. If a 3rd party, typically an investor, bids more than the bank’s opening bid, the property will be Sold to 3rd Party; if not, it will go Back to the Bank and become part of that bank’s REO inventory.

Palos Verdes Foreclosures Inventories—Preforeclosure inventory is an estimate of the number of properties that have had a Notice of Default filed against the property, but have not yet been Scheduled for Sale. The Scheduled for Sale inventory indicates those properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled. The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party.

Palos Verdes Foreclosures Bids—The Published Bid is the amount listed in the Notice of Trustee Sale and is typically the balance due at the original date of sale. The Opening Bid is the bank’s starting bid at auction, and is often discounted from the Published Bid. The Winning Bid is the highest bid received at auction and reflects the amount at which the bank or 3rd party purchased the foreclosure.

Palos Verdes Foreclosures Discounting—This chart compares the winning Bid Amount of properties sold at trustee sale to both the outstanding Loan Amount, and the current Market Value. Banks place an Opening Bid for each property and if a 3rd Party does not make a higher bid, the property will be sold Back to Bank (REO) for the Opening Bid amount. Properties Sold to 3rd Parties will typically have Winning Bids with deeper discounts to both Loan Amount and Market Value as only low Opening Bids will attract investor interest. NO DATA AVAILABLE THIS MONTH

Time to Foreclose—The average number of days between the filing of the Notice of Default and the final sale at auction for foreclosure sales that occurred during the specified month. Time to Resell—The average number of days between the final sale at auction and when the property was resold by the bank or 3rd party.

Easy tool to find Palos Verdes Foreclosures Homes for Sale

Go to original content page http://www.homeispalosverdes.com/palos-verdes-foreclosures-report/

California August foreclosure sales fell 5.5 percent from July. Despite August’s decline, foreclosure sales have been trending mostly sideways since May. The bottom-bouncing trend reflects the recovery in the California real estate market and the overall decline in the pipeline of Notices of Default (NODs) and Notices of Trustee Sale (NTS).

Splitting August foreclosure sales into their respective components — Sold to Third Party and Back to Bank (REO) — Sold to Third Party sales fell 19.7 percent in August while REOs surged 7.2 percent. Beginning in the later part of July, several of the largest banks resumed foreclosure sales following a temporary pause due to an Office of the Comptroller of the Currency (OCC) guidance letter that specified minimum standards for handling borrower files subject to foreclosure. Over the past 12 months, Sold to Third Party and REO sales are down 69.4 percent and 72.3 percent, respectively.

Notices of Default (NODs) in California dipped 0.7% in August and fell 55.0 percent for the year. Notices of Trustee Sale (NTS) were up 3.1 percent for the month but down 50.6 percent for the year.

In general, foreclosure inventories continue to decline, mirroring the NOD and NTS trends. Preforeclosure inventories rose 8.0 percent in August but have fallen 47.0 percent for the year. Scheduled for Trustee Sale inventory fell 1.6 percent for the month and is down 71.5 percent for the year. Bank Owned (REO) inventory was nearly unchanged for the month, edging down 0.9 percent in August and sliding 32.4 percent for the year.

Foreclosures have declined over the past year because:

• The California real estate recovery and the low inventory of homes for sale have pushed home prices higher, reducing the number of homeowners who owe more than their homes are worth and making them eligible to refinance or sell their homes.
• The California Homeowner Bill of Rights prevents dual-tracking, which is lengthening the time to foreclose.

Since the beginning of summer, however, there has been a noticeable decrease in the rate of decline as the foreclosure market approaches a more normal foreclosure-activity state.

August Foreclosure Stats & Trends, by State

For a complete summary of August foreclosure stats and trends, please click on the following links:

Note: The numbers in parentheses indicate over-the-month changes.

California foreclosure stats and trends

Foreclosure starts: 7,970 (-0.7%)

Foreclosure sales: 2,818 (-5.5%)

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+George Fotion

George Fotion on Google+

Original Content posted here: George Fotion, HomeIsPalosVerdes.com

Palos Verdes Homes Search

Many parts of this post will not render correctly here, for original content go to: http://www.homeispalosverdes.com/palos-verdes-homes-search-real-time-platform-update In fact just go there now…

There’s been a huge update to the Palos Verdes Homes and South Bay area real estate automatic email notification platform. The changes are dynamic and provide you much more control over your Palos Verdes Homes search and/or South Bay area real estate criteria specific protocol.

Here’s a video on the new Palos Verdes Homes search and South Bay area real estate platform. Continue reading below the video for some exciting ideas on how you can use this program

Redesigned Client Portal for Palos Verdes Homes

The Client Portal in CRMLS Matrix has been completely redesigned for today’s home buyer search for Palos Verdes homes or South Bay real estate. Your will now be able to use the Client Portal to manage the listings that I send you from CRMLS Matrix and create your very own Palos Verdes Homes or South Bay real estate property searches. The all new Agent Welcome Screen allows me to add a custom greeting message to your Client Portal and provides you with instant access to your auto emails, direct emails, saved searches, and listings that they you have marked as favorites and possibilities. In addition to marking listings as favorites and possibilities, you and I can discuss potential listings using the Client Portal’s Listing Notes feature. The system will keep our notes as we weigh the merits of the Palos Verdes homes or South Bay real estate that you consider.

To Review, the Matrix 6.3 Client Portal has been completely redesigned for today’s Palos Verdes homes or South Bay Real Estate buyer.

Here are just a few of the new Client Portal features:

• Portal Greeting – add a professional welcome message for your clients
• Slideshow – automatically rotates listings from Favorites and/or Possibilities folder
• Notes – you and your clients will be able to exchange notes on listings
• Direct Email and Report links, linking to information sent directly to your client Agent information – Displays your contact information

Some ways that you can put this system to work for you

Do you own any Palos Verdes homes? Let’s say you’re thinking of selling one. You’re not quite ready to list your home for sale, but you’re at a point where you need more information. But you don’t just want a picture of what Palos Verdes homes are for sale today and recently sold, you want to learn DYNAMICALLY when homes competitive to yours are listed and when they go into escrow. AND you want to know when they close so that you can see the sale price of the Palos Verdes homes. Moreover, you want to be informed in REAL TIME within seconds of an agent reporting a new listing, price change or sale on the Palos Verdes Homes and South Bay Real Estate MLS system. Contact me and I will set this program up for you.

Or maybe you’re looking to buy one of the many Palos Verdes homes now for sale or if nothing is on the market right now, you want to be kept apprised in REAL TIME when something matching your search criteria is listed.

In either case the Palos Verdes Homes Search and Real Time Platform Update is the program for you. I can easily set this up for you and without obligation serve as your real estate resource.

Meanwhile, you can still use the SpatialMatch program to learn about not only what’s for sale and sold in Palos Verdes homes, but get valuable trend data that will help you in your buying or selling decision for any of the Palos Verdes homes and South Bay Real Estate. Here’s the SpatialMatch map ready for your use. Study the video below that to learn about valuable insights into trends that this system performs for you.

[spatialmatch_map id=3 width=750 height=675]

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+George Fotion

George Fotion on Google+

Original Content: George Fotion, HomeIsPalosVerdes.com

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