PROPERTY DETAILS
Description:  The most exciting residential condominium community in the San Fernando valley has arrived. The community is a unique collection of surprisingly affordable one, two and three bedroom condo homes located in Warner Center.

INVESTORS! This condo conversion project is a great addition to your portfolio. Currently on phase 2 of 7. Contact Dev and his team ASAP to see these condos!

Bedrooms:  1      Baths:  1      Sq. Ft.:  660

Address:   5555 Canoga Ave.  Woodland Hills, CA 91367

Direct:  951.314.0852 | Fax:  951.848.9899

dev@devdugal.com | www.DevDugal.com

The median price of an existing home in California in January increased 13.8 percent and sales decreased 24.1 percent compared with the same period a year ago, the California Association of REALTORS® (C.A.R.) reported today.

“We expected January sales to fall below the record that was set in January 2005. The decrease was intensified by interest rates crossing the key psychological threshold of 6 percent in the last quarter of the year, and by weakness in consumer confidence due to the residual effects of Hurricane Katrina,” said C.A.R. President Vince Malta. “However, interest rates remain near their historic lows, and we expect sales activity to accelerate as we move into the traditional selling season.”

“The California real estate market is beginning to experience the soft landing that we expect to be the underlying dynamic driving the housing market this year,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “The number of homes for sale has risen to a six-month supply, which will translate into a slower rate of price appreciation than we experienced in 2005.”

The median number of days it took to sell a single-family home was 48 days in January 2006, compared with 44 days (revised) for the same period a year ago.     Source: CAR.org

Social networking sites provide marketing opportunities as more people are engaging in real estate discussions online.

Social networking sites with user-generated content like Tribe.net and MySpace.com can afford real estate professionals a special opportunity to establish invaluable contacts that can blossom into sales over time. It's a subtle, but tremendously effective, approach to marketing.

"Any professional who needs to connect with people beyond his or her daily F2F (face-to-face) circle can use online networks and communities to expand their networks," said Nancy White, an online marketing consultant and president of Seattle-based communications consultancy Full Circle Associates.     Source: Inman.com

Lending institutions sent 14,999 default notices to California homeowners during the October-to-December period. That was up 19.0 percent from 12,606 for the third quarter, and up 15.6 percent from 12,978 for 2004's fourth quarter, according to DataQuick Information Systems.

"There's always going to be a certain amount of financial distress. People lose their jobs, have medical emergencies, get divorced, pass away or make bad money decisions at a certain rate. Because of the rise in home values, much of that financial distress has been covered by the increasing amount of equity that people have had in their homes. That equity is now being created at a slower pace, and default activity is inevitably on the rise," said Marshall Prentice, DataQuick president.

Only about five percent of homeowners who find themselves in default actually lose their homes to foreclosure. Most are able to stop the foreclosure process by bringing their mortgage payments current, or by selling their home and paying the home loan(s) off.     Source: DQNews.com

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