Get Out Your Scorecards: Matthew Perry Lists Another Home for Sale

Source: IMDb

Score this a hat trick for Matthew Perry. The former “Friends” star has listed his third home for sale over the last three months.
But before we take a look at Perry’s modernistic gem that he just put on the Hollywood Hills real estate market for $5.695 million (photos above), let’s recap his impressive string of real estate ventures, which not only includes three listings, but a Sunset Strip purchase.
Whew!
Mid- August 2011
Perry listed his West Hollywood apartment, previously owned by Elton John. The corner unit in the Sierra Towers is currently listed for $2.995 million. Perry purchased the apartment in 2005 for $3.2 million.
He also purchased a Sunset Strip area home, a custom modern compound, for $8.65 million. The newly-built 4,000-square-foot home features views of downtown L.A. to the Pacific Ocean, as well as high-end amenities like an infinity pool and spa, private theater with velvet seating and underwater views of the pool through a two-inch thick Perspex window.
Early October
Perry hoisted his modern hideaway onto the Malibu real estate market with a $13.5 million price tag. Perry’s Malibu home has 4 bedrooms, 5.5 baths in 5,500-square feet of living space on a beachfront lot in the exclusive Serra Retreat.
Mid-October
Perry’s most recent real estate move involves his main residence in Los Angeles, which he has listed for $5.695 million. Like the other homes, this slice of Los Angeles real estate is a contemporary home with sleek and modern architecture. Perry picked up the home in 2008 for $4.475 million.
Located in the celebrity-friendly enclave of Outpost Estates, the home was built in 1955 and according to Mama over at Real Estalker, was remodeled sometime in the mid-’90s by architect Scott Carty.
The home’s glass-walled living room opens up to the dining room, small family room area and bright, modern kitchen all with views of “dramatic canyon walls.” Perry’s 3.5-bedroom, 3-bath home also includes an infinity pool and home theater.
According to mortgage calculator, a monthly payment on Perry’s home will be $21,664 with a 20 percent down payment and 30-year-mortgage.

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3 signs of sunshine for California real estate, time to buy is now !!!

Check this out, I have been trying to tell people this... the market is changing and if you're looking to to buy now is the time !!! don't get left behind !!  

Multiple offers, low inventory for some property types bodes well for recovery By Bernice Ross
 

On Sept. 21, Leslie Appleton-Young, vice president and chief economist for the California Association of Realtors, spoke to a packed house about her latest economic forecast.
There's no shortage of bad news in Appleton-Young's forecast; however, there are some definite rays of sunshine that indicate the dreadful market that California and the rest of the country have been experiencing may be on the upswing.
1. Slogging forward
Appleton-Young repeatedly stressed the fact that the worst is over. The number of sales in California this year will probably be between 490,000 and 500,000. The issue is the mix of sales. Forty percent are distressed (20 percent bank-owned, or REO, and 20 percent short sales).
Two main drivers of these numbers are insecurity about the state's job market as well as the unemployment figures, which are 3 percent higher (12.1 percent) than the national average. If you include those who have given up looking for a job, the real unemployment number in California is somewhere between 16 and 17 percent.
Before the jobs situation will improve, the gross domestic product (GDP) must increase to between 3 percent and 3.5 percent, which is almost 50 percent higher than it is now.
Furthermore, the number of homeowners who owe more than their house is worth in California is 30 percent, compared with 20 percent nationally. Exacerbating the matter even further, the high loan limits for FHA expired on Oct. 1. In California, this means that in some counties, borrowers who could obtain conforming loans up to $729,500 will now be limited to the Freddie and Fannie maximum conforming loan limits of $625,500.
2. Surprising numbers
Amid all the bad news, Appleton-Young did have some positive news to report. Although the changes are modest, there has been an increase in the percentage of equity sales compared to the share of distressed sales.
Foreclosure data company RealtyTrac reported that total foreclosure filings in August, while rising 7 percent compared to July 2011, were down 33 percent compared to August 2010.
The commercial market has seen a small decrease in vacancy factors, and the residential multifamily market is quite strong.
The worst may be behind us. The bottom in California appears to have occurred in 2007 (two years before the rest of the country).
In addition, the number of people selling their homes is back to a more traditional 14 percent as opposed 25 percent several years ago. The high rate was directly correlated with the increase in foreclosures and people losing their homes to foreclosure.
3. Good harbingers no one is noticing
In 2005, the market began showing signs of a downturn. Inventory started to increase but prices continued to climb in most areas well into 2007. If the buying public and the real estate industry had been paying attention to the growing inventory issue, they would have sooner realized the slowdown was coming.
Based upon Appleton-Young's numbers, the same thing is happening now. The buying public remains clueless that the current numbers indicate that many places have already risen from the bottom.
The classic hallmarks of a seller's market are decreasing inventory, fewer days on market, and increases in multiple offers. Fewer than six months of for-sale real estate inventory can be indicative of a seller's market, with upward pressure on prices, while a supply above six months can indicate a buyer's market, with downward pressure on prices.
While the $1 million-plus market is still experiencing a buyer's market with 9.1 months of inventory, the rest of the market has an average of five months of inventory, which appears to place most of the state in the early stages of a seller's market.
In fact, in the lower price ranges some areas are reporting only 2.3 months of supply. Where there is less than three months of inventory, you're not only experiencing a seller's market, you're experiencing a very strong seller's market.
The number of properties that receive multiple offers also supports this conclusion.
So what's happening with the buyers? According to Scott Gibson of Gibson International in West Los Angeles, the buyers still believe there is plenty of inventory and they don't believe interest rates are going up at any time soon. The result is that buyers lack urgency, which means fewer sales.
For those agents and consumers who are paying attention, the opportunity now is huge. The numbers being reported by Dave Stevens as well as Leslie Appleton-Young point to some improvement even in the midst of poor economic times.
If the economic conditions improve just a little bit, the worst market since the Great Depression may soon give way to an improved market.
Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, trainer and author of the National Association of REALTORS®' No. 1 best-seller, “Real Estate Dough: Your Recipe for Real Estate Success.”

Don't panic: Economy is not as bad as 'experts' say

Check out this great writing from Lou Barnes, i could not say it better myself.

Commentary: It's time to debunk 'Global Depression' By Lou Barnes

Take a deep breath. Two. Unclench your hands. Let loose your shoulders. Look out at a brilliant fall sky. Leaves. Breathe again, but for scent.
Put this global/financial/political whatever-it-is ... put it down. Back away from it, and look at it from a long ways off.
Domestic U.S. growth is marginal, but not recession. New weekly unemployment claims are steady near 400,000, with no new wave of layoffs. Purchase mortgage applications are too low to work off excess inventory, but they are stable.
The Chicago Federal Reserve Bank's national index is at -43, which is below the long-term trend line at zero in its index but far above the -70 that would mark recession. Orders for durable goods were flat in August, but held the huge July gain.
It's flat and soggy, but hardly over the cliff that you'd think from listening to many media reports -- and especially to the talk from people in financial markets.
These financial folks are normally the Pollyannas of the airwaves. Upon any devastating flood, nuclear accident or outbreak of war, they've got a loopy grin and a new investment for you to buy. Note how strange it is that finance types sound so panicky these days.
People in markets rarely get hysterical at the same time. Yet the brightest -- Nouriel Roubini, Robert J. Shiller, Martin Wolf, Goldman Sachs itself, George Soros -- are engaged in "Depression leapfrog," every day finding some new reason that the world will be unable to save itself. Risk-averse markets become a self-fulfilling prophecy, imploding.
The most immediate threat is Europe. In 1999, Europe embarked on a common currency to remove the trade-inhibiting risk of volatile rates of currency exchange. That minor problem, easily hedged, has created an entirely new and gigantic one: The euro nations must synchronize not just their borrowing and trade, but their entire economic cultures.
I don't think it will happen, but it may; in any event, this talk of a "Global Depression" as the inevitable result of breakup and/or austerity is nuts.
Italy knows how to run Italy, odd as it is, and France can run France, and so on for each of them. Germany does not know how to run Spain, nor Ireland how to run Germany. If the union blows, back these nations will go to dealing with their own affairs. Separation would be a relief.
Financial types howl, "It's all so interconnected that taking it apart will be the end of life on earth!" Translation: We don't know how to trade it, and we can't figure out who is exposed and how much.
The European Commission in Brussels -- the nascent pan-European government that ain't gonna happen -- says every day that the euro must survive and of course it will because nothing is wrong. (The talk of freeloaders trying to keep their paychecks running?)
Poor Angela Merkel, a scientist trained in Soviet East Germany, is hopelessly unprepared -- she apparently neither wants change nor can grasp its elements, instead clutching at status quo.
Europe has no voice. Change is going to come, and it will be briefly chaotic but will rationalize a hopelessly irrational situation. The euro is only 12 years old, and the status quo ante is hardly a mystery lost in ancient times. The lurch will be quite something, but the locals know what they are doing.
The economic situation here is different, but the problem is the same. No voice. No voice at all. No one to explain, to trust.
The most powerful forces in Great Depression recovery were Franklin Delano Roosevelt's grasp of the essential -- nothing mattered but the economy -- and his voice. My Okie parents and grandparents spoke for the rest of their lives about gathering in front of the RCA when FDR would speak: "Nothing to fear but fear itself!"
Here, as in Europe, the locals know what they're doing. Every state and town is doing what it must to get its budget under control, to raise revenue as it can, and to look after its citizens.
From a safe distance, staring at this predicament, please do not mistake the temporary incapacity of the largest governments for an inability to manage our affairs. We go on. We adapt. Collective arrangements come and go.
Lou Barnes is a mortgage broker and nationally syndicated columnist based in Boulder, Colo.

Home prices post fourth month of gains !!!

Look at the info below for Inman News, I know it is a small gain, but at least it is going the right way, and it seem like the news only like to give us the bad news, for ones this is good new.
so if you have been waiting to buy, lets get out and look you don't want to lose out !!!
Call or Email me for more info.
Have a great day, Sindy

Case-Shiller indices show Las Vegas, Phoenix losing ground in July

Inman News™

U.S. home prices inched up for the fourth month in a row, rising 0.9 percent from June to July, according to the latest Standard & Poor's/Case-Shiller Home Price Indices.
Only two of the 20 metro areas tracked by the Case-Shiller 20-City Composite saw month-to-month price declines: Las Vegas (-0.2 percent) and Phoenix (-0.1 percent). The index showed prices in Las Vegas down 59.3 percent from their August 2006 peak, hitting a new low.
Looking back a year, 18 out of 20 metro areas saw annual price declines, with the price index for Minneapolis falling 9.1 percent, Phoenix down 8.8 percent, and Portland, Ore., dropping 8.4 percent.
Detroit (up 1.2 percent) and Washington D.C. (up 0.3 percent) were the only cities to post annual gains in July, leaving the 20-City Composite down 4.1 percent.

 

But a dozen other cities -- Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Las Vegas, Miami, Minneapolis, Phoenix, Portland, and Tampa -- posted improvements in annual price declines compared to June.

Metros tracked in Case-Shiller 20-City Composite

Metro	Change June-July	Change from year ago
Atlanta	0.2%	-5.0%
Boston	0.8%	-1.9%
Charlotte	0.1%	-3.9%
Chicago	1.9%	-6.6%
Cleveland	0.8%	-5.4%
Dallas	0.9%	-3.2%
Denver	0.0%	-2.1%
Detroit	3.8%	1.2%
Las Vegas	-0.2%	-5.4%
Los Angeles	0.2%	-5.4%
Miami	1.2%	-4.6%
Minneapolis	2.6%	-9.1%
New York	1.1%	-3.7%
Phoenix	-0.1%	-8.8%
Portland	1.0%	-8.4%
San Diego	0.1%	-5.9%
San Francisco	0.3%	-5.6%
Seattle	0.1%	-6.4%
Tampa	0.8%	-6.2%
Washington, D.C.	2.4%	0.3%
10-City Composite	0.9%	-3.7%
20-City Composite	0.9%	-4.1%

Source: S&P Indices and Fiserv
 
Standard & Poor's said the report included some "unusually large revisions" across some metro areas. Detroit was the most affected, with additional sales in May and June showing "a much healthier market than previously thought."