Monthly Archives: December 2011

Inside the Market: Wrapping up 2011 and Looking Towards 2012

With 2012 just around the corner, Inside the Market looks at articles summarizing current market conditions for 2011 and looking toward the future.

December 26-30, 2011

Articles:

“Housing Market Strengthening But Long Road to Recovery Lies Ahead ”

 The year 2011 is ending on a high note as economists anticipate some signs of recovery ahead. Prices appear to be reaching their trough, visible supply is on the decline, and banks are beginning – just slightly – to loosen lending standards […] however, these positive signs do not point to an immediate recovery

DS News

 

“Economists Don’t Foresee Home Price Appreciation Until After 2013 ”

Prices are forecast to decline until the market’s bottom is reached in late 2012 or early 2013. After 2013, the panelists expect a relatively steady annual appreciation rate of roughly 3 percent through 2016, which is slightly below appreciation rates experienced during the pre-bubble years.

DS News

 

“Scheduled foreclosure auctions soar in California”

Banks set the clock for forced sales of more than 26,000 homes in the state in November, a 63% increase from October. Overall foreclosure notices nationwide fell last month.

LA Times

 

“The Future of Real Estate?”

Enter a world where robots, holograms, and even time travel might well upend the business of buying and selling property, as we know it.

Realtor

Turtle Rock Terraces Home for Sale

Unbelievable opportunity to own a beautiful, customized single-story residence in one of Orange County’s most exclusive and highly sought after communities: Turtle Rock Terraces. The home, at 5712 Oakley Terrace, boasts panoramic views of the San Joaquin Hills from resort-style grounds featuring the ultimate in privacy and tranquility. The grounds include a large sparkling pool, spa, and BBQ Island all surrounded by lush landscaping and mature fruit trees. The exceptional floor plan lives like a single level home with all four bedrooms on the first floor, and an added bonus room upstairs with a private bath and steam shower. The light, bright and open floor plan has been tastefully remodeled with a slight contemporary flair, complemented by rich, warm hardwood floors. The kitchen offers an abundance of cabinetry, pullout shelving, a spice rack and dramatic granite counters. This remarkable home is minutes away from Irvine’s award-winning schools– some of the best public schools in the county including Bonita Canyon Elementary, Rancho San Joaquin Junior and University High School. As an added money-saving advantage, there are no Mello-Roos.

The home is listed by Teles Properties’ Pegi DiRienzo. A full-time real estate agent with a unique level of professionalism, a stunning track record of achievement and a broad knowledge of the residential real estate business, Pegi DiRienzo combines a lifelong passion for homes with rock-solid Midwestern values. She is consistently ranked in the top 1% in production nationwide and she has been the #1 realtor in Turtle Rock since 2003. A Turtle Rock resident since 1985, Pegi specializes in Turtle Ridge, Shady Canyon, Newport Coast, Newport Beach and corporate relocation with buyers all over South Orange County. Pegi DiRienzo’s honesty and integrity are matched by her passion for the real estate business and her dedicated commitment to her clients. She can be reached at 949.230.4663 or via email at pegi.dirienzo@telesproperties.com

Inside the Market: What is Happening in the Market?

The question is still- “What is Happening in the Market?”  This week, “Inside the Market” is highlighting a few articles that seem to address where we are and where things are going for the real estate market.  Topics include historically low mortgage rates, a housing market ready for a rebound, falling or rising home prices and the difficulty for some home buyers.  Take a look at all the articles below and share your thoughts!

 

December 12 – 16, 2011

Articles:

“Residential Housing Ready to Awaken?”

After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound.

CNBC

 

“Mortgage Rates Hold Near Record Low ”

Fixed mortgage rates in the U.S. again held near record lows over the past week, according to Freddie Mac’s weekly survey of mortgage rates.

Wall Street Journal

 

“Why Home Prices Are (and Aren’t) Stabilizing”

Home prices are falling again, but some analysts see a silver lining because the prices of homes that aren’t selling out of foreclosure have been holding steady.

Wall Street Journal

 

“Lower Credit Scores Slow Housing Recovery by Thwarting Sales”

Many Americans’ credit scores have fallen because of economic distress in the last few years. It’s probably affecting their ability to get a new mortgage or buy a house

Los Angeles Times

 

To download the articles from this segment, click on the following links:

Residential Housing Market Ready to Rebound

Mortgage Rates Hold Near Record Low

Why Home Prices Are (and Aren’t) Stabilizing

Lower Credit Scores Slow Housing Recovery by Thwarting Sales

“Put the Fork in Hunger” Toy Drive Kicks Off This Weekend

In the spirit of Pasadena’s successful “Put the Fork in Hunger” Food Drive, which collected close to 5 tons of food for people in need, its founders are organizing another drive which promises to be a success: The “Put the Fork in Hunger” Toy Drive.  The drive, led by Teles Properties‘ real estate agent Philip Coombes, is a collaborative effort between the community and three local charities including Union Station Homeless Services, Five Acres and the AIDS Service Center, which support the homeless, children and their families, and AIDS related issues respectively.

On the weekend of December 10th, the public is invited to drive by and drop off unwrapped toys at a value of $10.00 or more to volunteers. Volunteers will be collecting toys from 8AM until 4PM on both Saturday and Sunday at “Fork Plaza” 200 Bellefontaine located just South of Huntington Hospital in Pasadena. The best gifts are those suitable for children and teens ages 5 through 17.

“We are so excited about the Toy Drive!” said Anthony Guthmiller, Director of Development & Marketing at the AIDS Service Center.  “We could not do the work that we do without the continued and generous support of the community.  Awareness is critical to not only caring for those affected by HIV/AIDS, but also in the stopping of the disease.”

The AIDS Service Center serves an increasing diverse population and provides services appropriate to a wide range of cultures, lifestyles and languages. They work hard to provide social services including health care, mental health counseling, family support, housing and legal assistance, transportation services, treatment advocacy/education and food distribution for thousands in need.

Another organization behind the “Put the Fork in Hunger” Toy Drive is Five Acres, a child and family services agency here in Los Angeles. Their work strengthens families and prevents child abuse through treatment and education in community-based and residential programs. Originally established as an orphanage in 1888, today Five Acres offers an array of services including a residential treatment center, a non-public WASC-accredited school, mental health services, foster care, adoption services and domestic violence prevention.

“Five Acres is grateful to the generous people of greater Los Angeles who are helping to ensure that abused, neglected and vulnerable children know that someone cares about them this holiday.  Thank you for sharing the true spirit of the season,” said Cathy Clement, Director of Philanthropy at Five Acres.

Teles Properties was formed in 2007 to create a dynamic partnership between client, agent and company – a partnership with purpose unlike any other.  One of the main components is giving back to our neighborhoods and communities, which is part of the Teles’ Gives Back campaign.  By developing an interactive relationship with our communities where we live, we are able to make a difference as well as raise the experience for our clients to a whole new level of unparalleled service.

For more information on how to get involved, please contact the following;

Philip A. Coombes, Agent- Teles Properties, Inc; Public Relations, Put The Fork In Hunger Toy Drive, 626.644.3227, Phil@AgentPhil.com

Peter Hernandez, President & Broker of Record, Teles Properties, Inc., 424.203.1800, peter.hernandez@telesproperties.com

Anthony Guthmiller, Director of Development & Marketing, AIDS Service Center, 626.441.8495 ext. 241, AMG@aidssc.org

Kristina Sarenas, Public Relations & Volunteer Coordinator, Five Acres, 626.798.6793 ext. 2279, ksarenas@5acres.org

Tracey S. Kardash, Director of Development, Union Station Homeless Services, 626.240.4558