“SO WHAT’S GOING ON WITH THE REAL ESTATE MARKET?”
Whenever we’re at appointments or working in the field, the state of the real estate market seems to be the question on every one’s mind. Since the press has been rather one-sided lately, we’d like to shed some light and offer some opinions based on our twenty combined years of experience in residential real estate.

First: our market has softened and overall, prices have dipped a little, but unlike the last time we had a correction in real estate prices, our economy is much healthier and interest rates are outstanding.

Second: more than anything else, we believe that home values are affected by public perception and consumer confidence and the momentum that they generate is what fuels market trends.



Third: homes that are 1) priced in line with current market values and 2) are marketed effectively are still selling. Some are even selling in multiple offers!

And there’s more to this story . . .

The market firmed up considerably during the last quarter of 2006. We've provided some charts reflecting some of the most recent sales data compiled by the CAR (California Association of Realtors).

WESTSIDE PAVILLION CONSTRUCTION MYSTERY . . . A FEW CLUES.

As you are likely well aware by now, the westerly section of the Westside Pavilion has been undergoing major renovation for some time. When will the giant hefty bag be lifted to reveal the "new and improved"?

While most of the details are shrouded in mystery, there is some interesting information at the web site of the Westside Neighborhood Council. Among other things, there are plans to convert the upper two floors to house a 14-screen Landmark Theatres center that will seat approximately 2,300, will contain stadium seating and will be designed with special attention to its architectural integrity. Per Landmark Theatres, this will be the largest and best art film complex in the country.