market watch

June 2013

from your neighborhood real estate experts

U.S. Home Prices Post a 12.1% Gain
Led by big gains in Western states, national home prices were 12.1% higher in April than the year prior, according to a leading home price index, underscoring how low supply and strong demand have become powerful boosts for the nations housing market. The year-over-year increase in the CoreLogic home price index was the biggest increase in seven years and the 14th consecutive monthly increases in home prices nationally. Prices were up 3.2% from the prior month. Driven by low inventory, a strong investor presence and record-low mortgage interest rates, housing has taken off this year after hitting a bottom early in 2012. The sharp recovery in prices bodes well for the construction industry, as well as the larger economy. "House price growth continues to surprise to the upside with an impressive 12.1% gain year over year in April," CoreLogic chief economist Mark Fleming said in news release. "Increasing demand for new and existing homes, coupled with low inventory, has created a virtuous cycle for price gains, most clearly seen in the Western states with year-over-year gains of 20% or more." The Los Angeles area led gains in prices in April, with the metro area up 19.2% when compared with April 2012. Prices in the region were up 3.5% from the prior month. The states with the biggest home price appreciation were Nevada, up 24.5%; California, up 19.4%; Arizona, up 17.3%; Hawaii, up 17%; and Oregon, up 15.5%. By Alejandro Lazo LA Times

Marco Pirozzolo
Estates Agent
CA DRE License #01918280 NYS DOS Brokers License 30PIO900998 Cell: 310.975.5765 Office: 310.724.7100 marcopirozzolo@gmail.com

Wondering How Much Your Home is Worth?

How has the price of your home changed in todays market? How much are other homes in your neighborhood selling for? If you're wondering what's happening to prices in your area, or you're thinking about selling your house, WE CAN HELP YOU! Just give my office a call for a no-fuss, professional evaluation. I won't try to push you into listing with me or waste your time. Ill just give you the honest facts about your home and its value. I can give you the inside scoop on what's happening in the housing market where you live!
Data Quick reported median home prices earlier in the month up 23% year over year for April, and up 3.3% in April from March for Los Angeles. Most major U.S. cities showed similar gains. May figures will be out around the 10th of June. From what we are seeing on the street, I would not be surprised to see a 4% increase from April to May and 25% year over year! Inventory rates are still at all-time lows with a 2 month supply or less in most areas in Southern California. Syd Leibovitch/Rodeo Realty

Golden State Designs Construction Co. Joins Our Team

Golden State Designs is A Clients Contractor, whereby the client is top priority. No other design-build professional can provide the unparalleled service, superb craftsmanship, and above all their personal one-on-one care. With an initial free consultation, Golden State Designs will come to your home, listen to your design ideas, and will put together an honest, comprehensive proposal to turn your dream home into a reality. Their toll free number is (888) 568-6630. (TELL THEM MARCO REFERRED YOU)

Call for a free mortgage analysis. I can provide a jumbo loan for up to $20 million, unlike many lenders. Let me help you when it comes to refinancing your property as well.

Marc Lisheski Pacific Coast Funding C 805-407-7774 Marc@paccoastfunding.com

This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed in this newsletter.

THIS NEWSLETTER IS NOT INTENDED TO SOLICIT PROPERTIES CURRENTLY FOR SALE .