From Sunday's L.A. Times: a lot of potential home buyers are sitting on the sidelines

Sunday's L.A. Times had a really interesting article about how some home shoppers are calling it quits, believing that prices have peaked.  Read the entire article here.  Here are some of the more pertinent quotes:

"A belief that the price slowdown will lead to a price drop could become a self-fulfilling prophecy, experts said."

"Many who are struggling to afford a home in California would welcome a significant price drop, if it wasn’t accompanied by an economic collapse. But experts say such a prospect is unlikely, given that homes don’t appear to be in oversupply. The state has a well-documented housing shortage."

"Other factors argue against a crash. The California economy is still posting robust job growth,despite the shadow of a trade war with China, which has become a big market for goods produced in the state. Whereas last decade’s housing boom and bust were driven by questionable lending, loan standards are much tighter today. And as much as prices have risen, the jump hasn’t been as sharp as it was in the early to mid-2000s.

“We don’t have a debt problem. We don’t have an overbuilding problem. We don’t have an economic problem — prices are not going to fall,” said Christopher Thornberg, founding partner of Beacon Economics, who called last decade’s housing crash".

Watch us grow again! Reuben Pacheco has just joined Judy Graff Properties

I am thrilled to announce that ace agent Reuben Pacheco has just joined Judy Graff Properties.  I have known Reuben for years and he is more experienced than 95% of the agents working today.  He has forgotten more than I even know.  Reuben has a subspecialty in architecture and estates, and that knowledge will be a welcome addition to our toolbox here at JGP.  Reuben can be reached at 1-213-804-4245 (domestic/international) or Reuben@ReubenPacheco.com. Here's Reuben's bio:

Reuben Pacheco Bio

Thank you for taking a moment to hear my message. My first career choice was to become a Real Estate Professional and in 1986, at age 16;  I began working in a large Westside office as a Receptionist then 6 months later was promoted to Office Administrator. Being an eager and aggressive person, I quickly rose to Office Manager. By 1988 at 18 years of age, I took the leap of faith and became a licensed Realtor.

In my 32 plus years working as a real estate professional, I’ve only worked for a couple of brokerages which, in my line of profession, is unusual. Being self-motivated and self-sufficient at my work, I tend to hang my hat at a company for many years.

By 1993 and at the age of 23, I decided that I wanted to own my own brokerage and did so, by joint venture, with a mortgage company. For 17 years;  I was an independent Broker working with high-net-worth individuals and selling multi-million-dollar properties throughout the Hollywood Hills, West Hollywood, Beverly Hills & Miracle Mile areas.

In 2011; I was invited to join the esteemed John Aaroe Group as an Architectural Agent. Over the years John Aaroe Group became Pacific Union and finally Compass. Being an Architectural Agent means, I have sold a high-dollar volume of properties with a significant pedigree — which classifies me as a Top Producing Agent ranking in the Top 10 % company-wide and ranking within the Top 2% of real estate agents nationwide.

Over the years, I’ve broadened my talents with skills such as mortgage banking, buying and selling both domestic and internationally, rehabbing and flipping properties, commercial sales / leasing along with training and coaching new agents.

Recently, Judy Graff with Judy Graff Properties has recognized my successes and talents with an offer I couldn’t refuse.  As of January 2019, I will be an Architectural and Estates Director with the esteemed Judy Graff Properties, located in Studio City.  I couldn’t be more pleased to work with such a sophisticated and educated group of well-seasoned professionals and associate my name with the many talented at JGPs. I’m more excited and invigorated than I have ever been before knowing my association with JGP will grant me greater access to more Buyers and Sellers interested in the Architectural and Estates Homes arena and extend my reach as an agent with a more robust domestic and international marketplace.

My outlook is simple: I love my Real Estate career and all the wonderful opportunities it has offered me.  If you feel there is a match between us, I’d very much like to chat with you and see if I can be of assistance. I am here to help!

–Reuben Pacheco

Coming this week -- 12930 Valleyheart #3, Studio City

Ready for a quiet nest in a stellar location? This one bedroom, one bath condo has what you're looking for.  It features a large kitchen, dining area, fireplace, wet bar, sunny exposures, a European-style washer/dryer unit, extra storage, and a huge patio (we will all be barbecuing soon, I promise).  Plus, the building also has a large laundry room.  The proactive HOA has done lots of recent upgrades to the building, too.  This home is listed at $449,000.

This unit is not only quiet and private, but it's on one of the loveliest, greenest streets in the SFV -- Valleyheart.  The street runs right along the river trail.  But for those who desire a little more action, the building is one block from all of the attractions that Ventura Boulevard in Studio City has to offer, including restaurants, stores, shopping and recreational opportunities.

We will be open from 1:00 to 4:00 on Saturday, Jan. 12, and also open from 11:00 to 1:30 on Tuesday, the 15th.  Please call me if you'd like to schedule a showing at another time.