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SoCal Home-Buying Saw Most Active July in 4 Years Amid Falling Mortgage Rates

The median home sale price for LA County was $635K, up 5% from same time last year

Lower mortgage rates are helping spur stronger home sales in Southern California, as median sale prices keep climbing amid a nationwide housing market slowdown. 

According to a new report by CoreLogic, 22,071 new and existing houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in July.

That’s up 6.1 percent from June, and up 3.7 percent year over year. The total number of homes sold last month was the highest for the month of July since 2015.

“After 11 months of year-over-year declines, Southern California posted a modest annual increase in home sales in July,” said Andrew LePage, a CoreLogic analyst. “The gain is no surprise given the significant drop in mortgage rates in recent months, combined with a healthy job market, income growth and a rise in inventory.”

*Source: TheRealDeal.com

.Mark Your Calendars 

September 4, 11, 18, 25 - Altadena Farmer's Market - Loma Alta Park @ 4pm - 8pm 

September 5, 12, 19, 26 - South Pasadena Farmers' Market - Corner of El Centro St. and Meridian Ave. @ 4pm - 8pm 

September 6, 7, 8 Gamble House Bookstore Tent Sale - The Gamble House 10am - 4pm 

September 7, 14, 21, 28 - Pasadena Farmers Market - Victory Park @ 8:30am - 12:30pm

September 7 - Friends of The Altadena Library Huge Book Sale - Parking Lot at The Main Library @ 12pm - 5pm

September 7 - Family Night Hike: Around The World! - LA County Arboretum @ 5:30pm - 7pm 

September 8 - R.G Canning Flea Market - Rose Bowl Stadium @ 4am - 3:30pm

September 8 - Pasadena Arts Walking Tour - Target Courtyard on Colorado Boulevard @ 7pm - 9pm

September 13 - Crisis and Earthquake Livestream - Pasadena-Foothills Association of Realtors @ 9am-12pm

September 14 - Arden Road Neighborhood Walking Tour - Pasadena Heritage @ 9am - 11:15am

September 15 - Pasadena Arts Walking Tour - Target Courtyard on Colorado Boulevard @ 6pm-8pm

September 15 - Bacchus' Live Fall Concert Series: Rickey Woodard Quartet - Bacchus' Kitchen @ 6pm - 8:30pm

September 17 - Free Tuesday at Descanso Gardens - Descanso Gardens @ 9am - 5pm

September 19 - WinePas: Old Pasadena's Fall Food & Wine Crawl - Old Pasadena @ 6pm - 10pm

September 20, 21 - Pasadena Greek Fest - Saint Anthony Greek Orthodox Church @ Friday, 5pm - 10pm; Saturday & Sunday, 12pm - 10pm

September 22 - 17th Annual Wine & Food Tasting - La Canada Memorial Park @ 3pm - 6pm 

September 23 - Taste of Arcadia - LA County Arboretum @ 5:30pm - 9pm 

September 28 - Altadena Library Foundation's Tast of 'Dena - Altadena Library District @ 7pm - 9:30pm

*Source: PasadenaNow.com

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Contract Corner

Use of Previous Listing Photos 

A property is listed for sale with Agent #1 who pays for professional photos of the property for the MLS. The home does not sell before the listing agreement expires. A few days after expiration of the listing the seller decides to hire Agent #2 from a different company. Without asking Agent #1 for permission, Agent #2 uses the same photos in their MLS listing as Agent #1. Has Agent #2 violated any rules? 

Most likely, yes. Rule 11.5 of the of the California Model MLS Rules states that by submitting photography to the MLS, the participant represents and warrants that he or she owns the rights to reproduce and display such content. The use of photographs by a subsequent listing agent requires prior written authorization from the originating listing agent or any other appropriate party with the legal right to reproduce and display such photographs. 

Navigating through the labyrinth of details and information of a transaction is exactly why you, savvy buyers and sellers, need an experienced team. The SARKISSIAN + PERERA GROUP is here to help guide you through this process and ensure that you achieve all of your real estate goals! 

© 2019 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. Any unauthorized reproduction or use of this material is prohibited. This information is believed to be accurate as of September 4, 2019. It is not intended as a substitute for legal advice in individual situations, and is not intended to nor does it create a standard of care for real estate professionals. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data. Information has been obtained from various sources and will not be verified by broker or MLS.

*Source: Car.org

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