Los Angeles County Real Estate Values have risen dramatically. Due to stringent lending guidelines and the large numbers of cash buyers, there is no cause for concern for another real estate bubble. But now that prices have appreciated, I am sure the banksters are just itching to loosen up credit criteria for buyers with small down payments …. Once that happens, I give it a year or two. Los Angeles Real Estate: Are We Heading for Another Bubble?
Here’s the five-year comparison of average price per square foot:
Average prices per square foot
La Canada real estate
March 2014: $571
March 2013: $521
March 2012: $452
March 2011: $438
March 2010: $461
March 2009: $499
Glendale real estate
March 2014: $403
March 2013: $356
March 2012: $302
March 2011: $325
March 2010: $344
March 2009: $350
La Crescenta real estate
March 2014: $434
March 2013: $358
March 2012: $345
March 2011: $333
March 2010: $378
March 2009: $378
Pasadena real estate
March 2014: $484
March 2013: $396
March 2012: $302
March 2011: $333
March 2010: $378
March 2009: $378
I love dissecting these numbers. Why the sharp drop in real estate values in 2011 vs. 2010? The $8,000 federal tax credit expired in June 2010. The tax credit caused a feeding frenzy among first-time home buyers, which subsided once the tax credit expired. The question remains: Is Los Angeles real estate heading for a bubble?
Related Post: Los Angeles Real Estate News and Happenings
