Top 5 Real Estate Stories of the Week

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By Lily Leung
Falling home prices, rising property sales and dipping mortgage rates were the top talkers in this week’s real estate news.
Tuesday: Richard Green, a real estate professor at USC, testified before the Senate Banking Committee on the merits of mortgage giants Fannie Mae and Freddie Mac, which likely will be phased-out by the federal government. Green was among an expert panel that included housing and policy leaders.
The panel was split on whether government support of the mortgage industry should exist. Green argued the absence of Fannie and Freddie would make it harder for people rural and central urban areas to obtain home financing.
Wednesday: The latest figures real estate tracker DataQuick show the median home price for the county fell in August but sales saw a boost. Last month’s median price for all home types was $320,000, down 1.5 percent from July and down 5 percent from a year ago. Home prices were up in 31 of 92 listed in the monthly report. The county recorded 3,249 transactions, up 6.8 percent from July and up 4.4 percent from the same time last year.

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Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
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