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Northwest Glendale Real Estate Hotsheet
Whew, what an insane weekend! Showings, listing opportunities and one gigantic open house - it was great!

Not much happened over the weekend on the MLS, though.

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1640 Pacific is up near the top of the cul-de-sac.  Here is another brilliant agents idea of professionalism - no picture and no text, other than to say it is a fixer.  (I am being sarcastic, in case you didn’t notice).  I’m still waiting for these guys to get a day job and leave the business of selling homes to the real professionals (sigh).  Oh, and this one is a short sale.

1655 Cumberland is an architectural Mid Century gem.

921 Patterson, 862 Omar (the one on the corner of Omar and Highland) and 1549 Western are all off the market.

The housing inventory is continuing to shrink.  Why is this the trend if Real Estate and the Economy are in the tank?  First of all, while the economy is soft, we aren’t doing that bad here in Glendale.  Most distress sales are happening due to people making bad decisions about loans, not because of job loss.  Therefore, the vast majority of homeowners can choose to stay.

I think that Congress’ stimulus package might change that trend.  When the conforming loan limits raise (as high as $739,000!),  there will be a real incentive for people to buy.  Most of our homes are bought with “jumbo loans” and that rate is as much as a full percentage above the conforming rate.  If people can now buy in our area using the lower conforming rate, we could see a real jump in activity!