Now Is The Time To Buy!

If you've been sitting back waiting to take advantage of this Buyer's Market now is the time.

1. PRICES ARE DOWN - WAY DOWN!

According to The California Association Of Realtors the median price of a single-family detached home in California during June 2008 was $368,250, a 37.7 percent decrease from $591,280 median for June 2007. The June 2008 median price fell 4.3 percent compared with May's $385,840 median price.

2.) INTEREST RATES ARE LOW!

Thirty-year fixed-rate mortgages averaged 6.32 percent during June, compared with 6.66 percent a year ago. Adjustable-rate loans averaged 5.15 percent compared to 5.68 percent in June 2007.

3.) INVENTORY IS STILL HIGH BUT GETTING LOWER

The inventory dropped from a 10.2-month supply to 7.7 months.

This is the kind of market that makes people wealthy.

Studio City....Home To The Stars

Emmy award winning director Todd Holland ("The Larry Sanders Show" and "Malcolm in the Middle,") and Scotch Ellis Loring, who was featured on "Desperate Housewives" and "Firehouse Dog," sold their Studio City house for about $1.66 million.
Songwriter Pamela Sheyne, who wrote "Genie in a Bottle" for Christina Aguilera, "He Loves U Not" for Dream and "Irresistible" for Jessica Simpson, and her husband, Nigel Rush bought the traditional style home. The home features 3 bedrooms and 3 1/2 bathrooms and 3,200 square feet. The home also boasts stainless-steel kitchen appliances, hardwood floors and a pool.