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Ca. Assoc of Realtors State of Housing 2009

California Assoc. of Realtors statistics on the State of Housing 2009 show that the average time homes are owned has declined from 10 years in 1999 to 5 years for all home sellers, but the portion that are second home and investment sellers declined to 3.5 years.

Sales volume for existing homes in Ca. and the US bottomed out at the same time in 2007 and only showed improvement in mid-2009. Sales had risen 28% over 2008 by the 3rd quarter of 2009. The median price hit a low in Feb 2009 to $245,170, then began to rise to $271,000 currently and projected to be $280,000 by 2010 ( to $597,000 in May 2007).
Homes break out at 77% below $500,000, 3% above $1,000,000 and 20% between $500 and $1,000,000. Inventory supply is 9 mo. for the above $1mmm category, 3 months for those below $$500,000 and 4 months between $500 and $1mm.

The really great news is that 1st time home buyer as a % of total buyers rose to 47%, mostly because of the tax credit of $8,000, which could be requested in the same year as the purchase. (This level had been reached only in the 1993 and 1995 years).

Distressed homes, at the state level, REO/foreclosures and short sales made up almost half (46.5 percent) of all annual sales in 2009, an increase from 35.6 percent in 2008. Median price of distressed properties was $250,000 vs. $485,000 non-distressed. was $250,000 vs. $485,000 non-distressed. The top reason for selling in S. Cal was short sales and foreclosures, 28% and in N. Cal., 19%, and 43% in the rest of Cal.
The profile of the 2009 1st time home buyer was that most had an income above $80,000, were 32 years old, received an interest rate of 5.5%, and made up 53% of total buyers. Those able to buy homes made up
80% and condos 16.8%, the median home price was $365,000 with an average square footage of 1900 up from 1600 in 2005, 34% were able to get FHA loans; 35% were single and 31% were married.

How Clients Found Agents in 2009

Recommendations of friends 27.7%
Client was friend/relative/neighbor 19.4%
Represented in previous transaction 17.0%
Listing agent for home purchased 1.0%
Yard signs 3.1%
Newspaper/Internet/Magazine Ad 5.2%
Direct mail/telephone marketing 1.2%
Other 25.3%

Short Sale imminent? Gov. assures FHA loan on next home

Anyone who is facing a short sale, if possible, keep your mortgage payments current and you are assured of receiving an FHA insured loan on your next home. There are more details, such as your home's sale must pay off your present mortgage...

Here is link to find out more detail about the government insured loan program: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-52ml.pdf

LA Westside Fun March 2010

March Fun Things to Do on the Westside
Brought to you by your neighborhood realtor Maralee Grantham
Happy St. Patrick's Day, Don't forget to run or volunteer to help in the 1st LA Marathon to end at the SM Pier!
2010 LA MARATHON 3/21, Learn how you can get involved in the big event by submitting your marathon special offers, display downloadable
LA Marathon placards or by volunteering to welcome runners and fans. Read More; Academy Awards 3/7
NATION'S BEACH HOUSE: Annenberg/Marion Davies Beach House: 415 PCH ,sign up classes such as yoga, soccer, dance start 4/15,
see http://www.annenbergbeachhouse.com
OPERA Thursday Evenings with the LA Opera 2/18 — The fifth of a free series of presentations about five upcoming operas (before heading
out to see them) is Introduction to the Ring Cycle & Gotterdammerung, 7 p.m. at the Main Santa Monica Public Library, 601 Santa Monica
Blvd., Santa Monica, (310) 458-8600 or www.smpl.org/
THEATRE/CONCERTS: Getty Saturday night music at the 7:30-3/27 see gettycenter.edu or call 310 440 7300 ( Note parking at Villa and
Center is $15,free after 5 pm; Getty has new play Alkestis -modern version with a modern dance company-- where Herakles wrestles death,
sat 3 and 8 pm and Fri 8 and Sun 3; UCLA Royce Hall Randy Newman of "I love LA" fame 8 p m tickets $65, 50, 40.
HOME BUYERS: The So.California Home Buyer’s Fair, open 10 a.m. to 5 p.m., Saturday, March 13, and 11 a.m. to 4 p.m., Sunday, March
14, features more than 50 educational “how-to” seminars designed to help home buyers navigate today’s real estate market with confidence
and peace of mind. Seminar topics range from understanding home prices and monitoring and fixing credit to applying for a mortgage and the
importance of the home inspection. Several of the sessions also will be offered in Spanish. The event is free to the public. In addition, the first
200 attendees each day will receive a free movie ticket (one ticket per person). See a consumer fact sheet about the event. Please visit
http://www.homebuyersfair.com/ for more information. Buying Income Property in Santa Monica seminar 3/2 SM Public Library 9:30-12
noon put on by Rent Control Board.
MUSEUMS/ART: LACMA: Renoir in the 20th Century February 14, 2010–May 9, 2010 American Stories:Paintings of Everyday Life, 1765–
1915, many icons of American art on display, February 28, 2010–May 23, 2010; Getty 3-25 to 7-5 Aztec Pantheon and the Art of Empire; SM
Airport Art Walk 3/20 Sat 1-5 pm-see amazing portrait painter, give a workshop to paint children 1:30. 3300 #G airpt av. enter from 23rd.st
LECTURE: :Getty Villa free lecture 3/4, Thurs. 7:30 pm (park $15 or free after 5) 2000 year old Greek Cosmos tracking device-Antoikythera
discovered ,now we know it 's purpose. Santa Monica, Winter Lectures at Memorial Park, 3/13, "The True Story of Marion Davies", put on by
the SM Conservancy and in honor of the donor of the Annenberg Community Beach House.14th and Olympic tickets $10, ,smconservancy.org,
3/27 lecture on the rebirth of the Beach House site the architecture, both 2-5 pm
FILM: USC, French new wave cinema of Kourtrajmé Productions, a Paris-based collective of emerging visual artists, filmmakers, actors and
musicians short films, music videos and documentaries. Directors share their work.
ARCHITECTURE: LA Conservancy has 16 free walking tours of downtown, such as LA' s evolving Skyline.
FESTIVALS: 3/6-7 Pomona Fair grounds Irish festival weekend.
MUSEUM/THEATRE: new play from the museum's Native American company, "Tales of an Urban Indian", opens March Fri 8pm and Sat
2pm and 8 pm and Sun 2 pm
ENVIRONMENT: Native Plants? Sunland, Ca has the definitive Native Plants Foundation, Theodore Payne, don't want to drive to Sunlandnorth
on the 5 Freeway? Go to see them at the Hollywood Farmer's Market, just n. of Sunset and w. of Vine, 8 am to 1 pm, Sundays, one of
LA's best, see farmernet.com; Tree Hugging Day 3/20 Sat. go to Palisades Park SM noon; SM city offers to anyone these 6 session Green
Living Workshops. Sessions start 3/1 Mon., another 6 sessions start Tues 3/2 and Wed. 3/3 another. Topics include:, one per week: Water,
Energy, Waste, Chemicals, Transportation, and Shopping & Food. Workshop meets for six sessions at the same location and time. All evening
7:00 pm to 8:30, Sustainable Works [nancy.barba@sustainableworks.org], or www.SustainableWorks.eventbrite.com, open to all, suggested
donation for lare workbook is $25.West LA Surfrider Foundation offers core training course 3/6 Sat. 11-12 am, Santa Monica Youth Hostel,
2nd St., this is a beginner intro course to help people learn basic water quality, plastics, ocean friendly gardens, beach clean-up…RSVP
www.surfriderwlam.comDANCE: don't forget to see what Staci and Conroe have planned for the Michael Jackson dancing classes and
subsequent performances- www.flashmobamerica.comTOURISTS: Friends visiting? Send them off to see 3 major areas: Santa M Bev Hills W
est LA, Hollywd Universal on the Star Line, they can ride all over, get on and off as they like $30 for 1 day $40 for 2, Go online or visit any
hotel.. YEAR OF THE TIGER: listen to what an expert says- what is in store for the Tiger metal year:
http://www.raymondlo.com/ver2/aboutmasterlo/articles.asp?id=15
Maralee Grantham and Associates In Pursuit of Your Dreams
Sotheby’s INTERNATIONAL REALTY maralee@maraleegrantham.com cell 310 570 6100

Did you remeber all your Real Estate tax deductions?

Selling Your Home, Sweet Home:
Have you thought of all deductions?

deductions on points paid when you bought the home
deductions on mortgage interest
property taxes while you lived in it.

Sellers
deduct the fees you incur to unload your home.
deduct a portion of the property taxes
agent commission lowers the sales price (reducing capital gains tax
fees you paid at closing.