January 2009... DOM for sale

2009 is showing a few encouraging signs that Manhattan Beach home sales may be picking up a bit from the dismal November and December numbers. Since January 1, 2009 there have been 10 homes and 4 townhomes go into escrow. Not great to be sure but it is an improvement over the 8 properties that entered escrow in December.

Homes are staying on the market for longer periods of time. If you look at the graph above you will see that the DOM(days on market) is up. The average DOM for a home in Manhattan Beach is now 116 days and 108 days for a townhome. That means a property will probably be on the market at least 4 months before it sells. So if you need a quick sale you will have to set an agressive listing price.

Financing is the most important factor in today's real estate market. If you are seriously thinking of buying a home you must have your financing in place and be pre-approved for a specific loan. I'm telling my clients to get approved by a direct lender and a mortgage broker. When shopping a mortgage broker be sure to use one with a long history in the business and a lot of connections. Have a talk with the bank where you have your accounts. You may find they offer a better rate to their clients.

Manhattan Beach: Market Snapshot January 19, 2009(click on graph to enlarge)

Manhattan Beach: Price Ranges January 19, 2009

**Tomorrow Barack Obama will be sworn in as the 44th President of the United States of America. After 13 months of recession, a lot of folks are hoping the new President will be able to pull off a miracle and bring stability to the economy.

Manhattan Beach: Market Snapshot December 4, 2008

Manhattan Beach: Market Snapshot November 8, 2008

Manhattan Beach: Market Snapshot October 13, 2008

Manhattan Beach: Market Snapshot September 15, 2008

Manhattan Beach: Market Snapshot August 19, 2008

Manhattan Beach: Market Snapshot July 17, 2008

Manhattan Beach: Market Snapshot July 7, 2008

Manhattan Beach: Market Snapshot June 20, 2008

Manhattan Beach: Market Snapshot June 5, 2008

Manhattan Beach: Market Snapshot April 29, 2008

Manhattan Beach:Market Snapshot April 14, 2008

Manhattan Beach: Market Snapshot March 31, 2008

Manhattan Beach: Market Snapshot March 13, 2008

Manhattan Beach: Market Snapshot February 26, 2008

Manhattan Beach, CA: Market Snapshot February 11, 2008

Manhattan Beach, CA: Market Snapshot December 12, 2007

Manhattan Beach: Market Snapshot November 8, 2007

Manhattan Beach: Market Snapshot October 12, 2007

Manhattan Beach: Market Snapshot September 29, 2007

Manhattan Beach: Market Snapshot September 15, 2007

Manhattan Beach: Market Snapshot August 25, 2007

Manhattan Beach: Market Snapshot July 18, 2007

Manhattan Beach: Market Snapshot June 25, 2007

Manhattan Beach: Market Snapshot June 2, 2007

Manhattan Beach: Market Snapshot May 6, 2007

Manhattan Beach: Market Snapshot April 23, 2007