I predict the short-term future of the local real estate market

Although I don't have a crystal ball, I think we're in for a strong first and second yearly quarters, as far as San Fernando Valley and Los Angeles real estate goes. Why do I say that? It appears that buyers are coming out of the woodwork.  There's a nexus right now between low interest rates and lower-than-in-recent-memory home prices and short inventory.  Everything is going into multiple offers.  There are lots of cash buyers out there.  Plus, I think that potential buyers may just be tired of sitting on their hands and may be feeling a little more confident than they have in the recent past.  I wouldn't be surprised to see prices go up before the summer. We'll see...

Is the Burbank Board of Realtors tone deaf? Or are they really secret members of the 1%?

I received the above engraved invitation to the annual Burbank Board of Realtors installation dinner.  WTF? Lakeside Country Club? Black Tie? Big Band? Really? For Burbank, which is not exactly the hoity-toity-est of cities to begin with? Is this appropriate in this economic environment? When we're in the middle of a recession and most of our seller clients have lost 10-20% of the value of their homes? And our buyer clients can't afford to buy no matter how low interest rates are? No wonder there's such a downward pressure on the Realtor commission structure.

4604 Norwich, Sherman Oaks - heaviest activity that I've seen in a long, long time

Showings begin for my new listing at 4604 Norwich, Sherman Oaks today.  It's by-appointment-only as it's tenant-occupied.  Sixteen separate buyer groups have made appointments today -- that's really, really a lot, and way more than I was expecting.  Is it because interest rates are so low? Or is it because the townhouse is gorgeous, and it has four bedrooms, 4 baths, a bonus room, an attached garage, luxe kitchen, etc, etc.?  Stay tuned for more details.

Low interest rates. It's not supposed to be like this.

Haven't we all been told that interest rates would rise this year? And didn't interest rates tease us a little bit by rising in the late winter?  But now they're down again.  Buyer clients of mine got an FHA loan for 4.75% with no points on Monday.  And jumbo conforming loans -- up to $729k -- can be had at 4.85%.  And jumbo-jumbos at 5.5% (with 25% down).  Thanks, for once, banks.  You're just full of surprises, and this one is delightful for a change.