Yes, local home prices went up last month and here are the stats

Did it seem to you like local housing prices rose last month? This L.A. Times article says they did; local prices have risen 5.3% in the last year.  Of course, as I've always said, there are lies, damn lies and statistics, but I have seen an overall price uptick in the areas I serve.

In your opinion, what was the best and worst real estate trend of the year?

Friends and fans, what did you think about real estate this year? Short sales and foreclosures: too much, not enough? Real estate prices: too high or too low or just right? Real estate agents: too many, too few, too dumb? The real estate market in general: good, bad or indifferent?  I'll post my bests and worsts in the next few days.

Have we hit bottom?

Here's an article from today's L.A. Times stating that local home sales prices have held steady since January. If you read this blog, you'll note that my boots-on-the-ground post in February said we are pretty much at the bottom for local prices. This is due to favorable lending conditions including low interest rates and the $8000 tax credit for first time buyers.

Caveat: if this year is like other years, sales will slow down in late July and stay slow through the end of the year. If that happens, we may see prices drop a little bit more.