Los Angeles Real Estate Market at Critical Point

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 3, 2010 -- Los Angeles, CA - (March 2, 2010) Right now the real estate market is at a critical point: the $8,000 housing stimulus credit expires on April 30th, 2010 and there is little indication it will be extended, interest rates rose slightly on February 18, 2010 and are likely to rise again soon and standing inventory in the LA area has dwindled. These three factors point toward strong sales of new homes in the first half of this year.

An example of this trend is TLofts, an eco-friendly community in West LA that is 60% sold out. It has been selling at a very rapid rate, as have other Westside condo communities. Buyers realize many things - they have to take advantage of the tax credit while it lasts, right now interest rates are still at an historic low but that will not last, and standing inventory of new homes, especially on the Westside, is all but gone.

If you are interested in doing a story on how fast new homes (especially well priced condo projects) are selling on the Westside and how the tax credit and a possible additional rise in interest rates will effect sales going forward, please contact Carol Ruiz at Red Rocket LA at (310) 892-4744 or by email at cruiz@redrocketla.com.

TLofts is an eco-friendly, live-work loft community situated on Tennessee Avenue, just west of Sawtelle Blvd. and east of Olympic Blvd. For further information on TLofts, visit www.tlofts.com

Los Angeles-based Lee Homes has been building homes in Southern California for more than 50 years and is recognized for innovative design, environmental sensitivity and market foresight. The company develops a broad range of product types from mixed-use housing over retail, luxury estates, single-family and affordable housing. For more information, visit www.leehomes.net.

Founded in 2000, CityView's mission has been to create urban workforce and
smart growth developments in cities across America, with an institutional capital
specialty since 2003. Headquartered in Los Angeles, CityView has $745 million in assets representing more than $2 billion in real estate transactions. CityView has created more than 7,000 homes in 30 markets across 13 states. For more information, visit www.cityview.com.

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