Have we hit our bottom? I am not ready to call that shot yet, but when rates fall under 5%, it sure feels like it. In January of 2009, the rates fell under 5% and I put 6 properties in escrow (in two weeks). then rates went up AND things slowed a bit. All of those sales closed, by the way.
Rates have fallen again. In March and April of 2009s, all of my listings are going into multiple offer situations and we are getting much higher price per sqft values, then two months ago.
I just put 2020 6th Street #4, Santa Monica CA on the market for $1,039,000. You can see the listing at www.2020sixth.com. Very sweet townhome in Ocean Park, CA near Main Street. I feel the same buzz going on... We will see what happens, by I just closed on 601 Ocean Park Blvd (a few blocks away) and they are very comparable.
I love selling properties in Santa Monica, escpecially Ocean Park, near Main Street and the beach. What a great place to live.
BRIAN MASER
Abbot Kinney Real Estate
310-795-8010
Wednesday, May 6, 2009
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