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The nation’s housing market may be headed towards a “double dip” slump, according to a press release from Standard & Poors. The good news is home prices in Los Angeles seem to be faring better than many other major cities in the U.S.

The S&P/Case-Shiller Home Price Indices showed home prices fell in 20 major cities in October 2010 compared to September 2010. The overall decline for the 20-City Composite was 1.3 percent. It was 1.2 percent for the 10-City Composite. Los Angeles posted a -0.7 percent drop, the fourth smallest drop of the 20 cities.

To view the full press release visit: http://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff–p-us—-

“The double-dip is almost here, as six cities set new lows for the period since the 2006 peaks. There is no good news in October’s report. Home prices across the country continue to fall,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s.

“The trends we have seen over the past few months have not changed,” he added. “The tax incentives are over and the national economy remained lackluster in October, the month covered by these data. Existing homes sales and housing starts have been reported for both October and November, and neither is giving any sense of optimism.”

Six markets, including Atlanta, Charlotte, Miami, Portland (OR), Seattle and Tampa, hit their lowest levels since home prices started to fall in 2006 and 2007. This means average home prices in those markets have fallen beyond the recent lows seen in most other markets in the spring of 2009.

The 10-City Composite posted a +0.2% annual growth rate in October, whereas the 20-City Composite  was in negative territory, down 0.8% in October.

Only four major metro areas showed year-over-year home price gains in October, including Los Angeles, San Diego, San Francisco and Washington D.C. Los Angeles and Washington D.C. posted the largest gains, 3.3 percent and 3.7 percent respectively.

There’s a lot of talk about how crummy the residential real estate market is and how agents had a rough go of it during 2010. There are fewer agents in the business compared to years prior and the ones who stayed are making a lot less money.

Carol Wolfe, a veteran agent in Encino, Calif., is on track to do more than $40 million in combined sales for the year. She has been in the business since the mid 1970s and said this is the second best year of her career. She sells homes from $140K condos to multi-million dollar estates.

The thing is she never stops the marketing machine, even in the good times. Name recognition, having an excellent reputation and providing a high level of customer service are key, she said.

She sends out approx. 5,000 postcards each month to her farm area, advertises on the Internet, advertises in local movie theaters, schools and car washes, and writes a weekly blog at: http://encino.patch.com/articles/keeping-the-slow-economic-recovery-in-perspective

Ken Marker and Corey Brown, agents based in Sherman Oaks, Calif., closed more than 120 deals in 2010. The team sells property in the San Fernando Valley area ranging from condos to high-end estates. These guys are consistently top producers for Rodeo Realty.

Congratulations to Ben Salem! The Southland Regional Association of REALTORS® (SRAR) chose him as Good Samaritan of the Month for December 2010. For the association’s announcement visit: http://www.srar.com/node/946

The SRAR Good Samaritan program is designed to feature REALTORS® that have made a difference in their community through charitable and/or volunteer endeavors, according to SRAR. Monthly recipients are featured in the REALTOR® Report and their name is added to the Good Samaritan plaque hanging in the front lobby of SRAR.

Salem has been a member of the association since 2003. The following is an exerpt from SRAR’s announcement.

Working under the umbrella of Rodeo Realty, Ben Salem Properties donates 2% of every closed transaction to various charities. His colleagues have recognized him for his work educating industry professionals in the area of REO evictions and best practices. Ben has donated his time on a variety of panels that have been focused on borrowers’ rights; the difference between personal property and debris; techniques for occupancy determination; and how to break the ice with occupants.

In addition to the education he provides to his client base and peer group, Ben has become very active in an organization called “No Paws Left Behind”. “No Paws” is an organization that helps to care for abandoned animals that are victims of the current surge in foreclosures. They also work directly with families in foreclosure, providing assistance with vet bills, food, and help in finding pet-friendly alternative housing and money to cover deposits.

Ben teamed up with “No Paws” founder, Cheryl Lang to help raise awareness and funds to care for these animals by providing shelter until they can be transitioned into new homes. Lang estimates that nearly one million pets including dogs, cats, birds, horses and other animals are at risk as the foreclosure crisis mounts.

In April of this year, Ben and his Elite REO Team helped organize a Casino Night in Palm Springs that raised roughly $25,000.00 for “No Paws”. Funds raised for this event will cover costs including the care of pets left behind, support of local animal shelters, adoption, spaying, neutering and vaccinations. In many cases families are forced into choosing between buying groceries and caring for their pet.

An estimated 31,403 new and resale houses and condos were sold in Calfornia last month, according to MDA DataQuick. That was down 3.9 percent from 32,669 in October, and down 12.4 percent from 35,860 for November 2009.

For MDA DataQuick’s full breakdown for the month of November visit:
http://www.dqnews.com/Articles/2010/News/California/RRCA101216.aspx

The median price paid for a home last month was $255,000, down 0.4 percent from $256,000 in October, and down 2.3 percent from $261,000 for November a year ago. The year-over-year decrease was the second in a row after eleven months of increases.

Of the existing homes sold last month, 37.8 percent were properties that had been foreclosed on during the past year, said MDA DataQuick. That was up from a revised 36.7 percent in October and down from 40.1 percent in November a year ago. The all-time high was in February 2009 at 58.5 percent.

Alex Lazo at the Los Angeles Times also did a story on the November numbers that brings in a few more voices. Visit: http://www.latimes.com/business/la-fi-home-sales-20101217,0,7438765.story

Rodeo Realty hosted its annual holiday party on December 18th at the Sheraton Universal in Universal City. More than 700 agents, brokers and their guests attended in elegant yet festive attire. The event included drinks, dinner, some words from Rodeo’s founder and president Syd Leibovitch, and lots of dancing. Thanks to Syd Leibovitch and everybody who attended. May 2011 be a great year!

Here are some photos from the event. I wish I could have included shots of everybody, but this will at least give you a taste of the party and hopefully a few chuckles.

The entertainment industry and real estate seem to go hand-in-hand. Gossip about celebrities buying and selling multi-million dollar homes are staples of the L.A. Times, New York Times, Huffington Post and more.

The answer is yes we do, and this is the first in a series of blogs interviewing them. Some are actors, others musicians. Regardless, all of them say there are plenty of parallels between show business and the business of buying and selling homes.

Every now and then, however, the two careers meet in strange ways, said Mormino. He recently met somebody at an open house who happened to be a well-known television director. There was a point of connection, because the director knew Mormino is also in the entertainment business.