There are approximately 1300 Realtors, who are members of the MLS (Multiple Listing Service) with a Glendale business address. In September, 38 Glendale homes sold.  



Let’s see how Glendale’s real estate stats came in:

*The number of homes sold decreased, but that is typical for this time of year

*Price per square foot lowest for the year

*DOM (days on market) minimal increase from last month but assuming the Labor Day holiday, really not much of a change

*Average selling price decreased from last month, but the range is the same it’s fluctuated all year

*% of sales price to list price, slight increase - 2% from last month

What does this mean for Glendale home sellers? Although I have closed a few short sales in less than six weeks, that is not necessarily the norm. Lisa is still waiting for a BofA short sale approval from May.  Buyers are tiring of the short sale waiting game and the foreclosure circus.  Listings for traditional home sellers (real people) are in high demand, buyers and their real estate agents don’t want to work on the bank’s timeline. 

What does this mean for Glendale Home Buyers?  interest rates are at historic lows, they are crazy low.  Interest rates will increase they always do. Keep in mind that for every 1% increase in mortgage interest rates, you will need about a 10% drop in property values to afford the same monthly payment.

As always, I welcome your phone calls and comments, just let me know how I can help.