What's Happening in Housing!?!

List Price: $680,000

These photos have not been altered from their original display on the MLS (slight disclaimer on that this week) and the photos are from an active listing in a California MLS at the time of this article's publication. Yes, they're actually that bad and they are currently being used to market the home to the public.

This one speaks for itself but don't worry we've still got plenty to say about it too.

Full Disclaimer: The original MLS photos do not pixelate the subject's face, we did that for our own reasons. Trust us, they're just as awkward without the pixelated face.

Real Estate Photography 101

The NUMBER ONE RULE in real estate photography . . . wait for it . . . There shouldn't, under any circumstances, ever,

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It seems simple, right? Here’s what’s wrong with the house…fix it. Everyone’s happy. Right? Right?!? If only it were actually that simple. Read on for more info about why the proper resolution to a Request for Repairs isn't as simple as just fixing the requested items and for a discussion about the options that are available to both parties. This article is for Buyers and/or Sellers.

Please note that the information in this article pertains ONLY to California residential real estate transactions and is up-to-date only as of the date of this article’s publication. You should always consult a licensed professional before making any decisions that pertain to any particular real estate transaction.

What is the Request for Repairs?

The Request for

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Silver Lake Reservoir in Los Angeles is going through changes. Will it become one of Los Angeles' newest parks?

There has been much ado about the Silver Lake Reservoir over the past few years as the historic namesake of this “tragically hip” neighborhood is poised to stand as a proxy in an ongoing cultural battle between public use and the sanctity of affluent neighborhoods.

A New Life for Silver Lake Reservoir

After having been emptied, retrofitted for a year, and then refilled and replaced with non-potable water as part of a federal law that outlawed open-air drinking water reservoirs, the future of the reservoir is the focus of a potentially heated debate.

Now that the reservoir no longer holds potable drinking water, and is instead a reservoir that houses part of the city’s supply of non-potable utility water, the body of water is now available to

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Real estate housing markets are heating up across the U.S. Metro markets are overvalued.

CoreLogic’s latest Home Price Insights report has been released for April 2018 and the biggest news is that CoreLogic reports that half of the 50 largest metro housing markets in the United States are “overvalued.” That’s a word that may have many homebuyers running for the hills shouting about bubbles and crashes but it’s far from that simple.

Click here to read the full press release from CoreLogic

So what does “overvalued” mean?

It does not mean the same thing as a bubble. Though it is obviously true that in order for a bubble to exist some commodity has to be overvalued it does not necessarily correlate that an overvalued commodity is, necessarily, a sign of a bubble.

Bubbles always occur because of some kind of rampant fraud when it

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It never ceases to amaze us here at PHA Realty how bad some of the photos are that we come across in the MLS while searching for our clients. Sometimes it's completely mind boggling. Yes, the photos don't sell the home but bad photos will prevent potential customers from coming to see the home. And guess what that means, it means the there may be less people interested in buying the home. The lower the demand, the lower the value. It's that simple.

This Is Serious Business

It's not as if we're trying to sell $2 toasters on Craigslist. Who cares what the photo of a $2 toaster looks like, someone's going to buy that toaster because it's $2 and they need a toaster. Every time we sell a home we're selling a one-of-a-kind product that's worth hundreds of

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california housing prices home price index

Year-Over-Year California shows growth in home prices that is stronger than 90% of the country while still staying relatively far below its peak value.

When you take a look at the numbers in CoreLogic’s January Housing Price Index Report you can see that California is on the strong side of two very telling metrics when compared to the numbers nationwide.

Continued Growth in CA Housing Prices is Likely, at Slower Pace

The year-over-year change from January 2014 was 5.7% for the National index. California was on the stronger side of that, posting a 7.3% year-over-year change. Even that can be considered strong growth. That number will likely continue to decline over the next year.

The National HPI is currently 12.7% less than its all-time peak

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first-time homebuyers feel uninformed about their loan

Have you ever heard the saying that when dealing with a serious or complex medical condition you should always have a friend or family member accompany you to the visit and see the doctor with you? The reason for this is to increase your likelihood of asking questions when you are confused. The confidence afforded by another person on your side helps create a much more open dialog about the situation. This is why real estate agents are so important for first-time homebuyers and it is one of the most important aspects of what real estate agents do.

The Mortgage Challenge infographic from the California Association of REALTORs shows that a significant portion of first-time homebuyers feel uninformed when it comes to lending. What can you and your real

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When is the best time to buy a home? The data points to winter

What Time of Year is a Good Time to Buy a Home?

One question I hear consistently from clients and acquaintances is, “When is the Best Time to Buy a Home?”

Well the fact of the matter is that deciding when to buy has more to do with your own personal situation than it does with the time of the year. But like all types of sales there is a cycle and there is a season that favors buyers over sellers. However, the most favorable season for buyers is also the most difficult season to buy during. Have you figured it out yet? You may have already guessed Winter (based on the main graphic) and if so, you’re correct.

Cold Weather Slows the Housing Market

Winter in California might not be as bad as many (most) states but it is still cold (relatively

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See why slowing housing price increases are good news for California Real Estate

CoreLogic’s current HPI report for July 2014, released earlier this month, represents the 29th consecutive month that the Housing Price Index has shown positive year-over-year changes. The year-over-year increases have only recently dropped in to the single digits. Previously the year-over-year increases were consistently in the double-digits. Price increases like that cannot go on unabated before another bubble is reached. CoreLogic’s May 2014 HPI report showed a YoY increase of 8.8% and in June it fell to a 7.5% increase. The latest report for July stayed steady at 7.4%.

The Market is Responding to Consumer Buying Power

This is a good sign as far as I’m concerned. Double-digit price increases are nice but they can’t go on forever. What seems

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