CALIFORNIA HOME SALES IN JULY 2011

CALIFORNIA HOME SALES IN JULY 2011

Okay, so DQ News posted it's information for July Sales In California this year.  so forgive me if I write a statistical blog.  They really do paint the picture of what's happening in theCalifornia Real Estate Market.

The median sale price for a single family residence in CALIFORNIA is $252,000.

The average mortgage payment being taken on now is $1027.

Home sales which are typically higher in the summer months have gone down 11% from June and 1.4% from July 2010.


Distressed Sales account for more than 1/2 of the entire home sale in July. 34.6% were REO's and 17.3% were short sales.  Both numbers are trending downward.


Foreclosure acitivity is slowing down but is still at historic highs.


And people are getting smarter.  There are less homes being purchased with more than one mortgage.  


Investor purchases (cash purchases and non-owner occupied) are slowing down as well.

HOW DOES THIS AFFECT YOU:  There is more inventory on the books, so more homes for you to choose from.  The all cash offers were taking up quite a few of the homes before.  Now they are slowing down as well, so you have a much better chance of getting YOUR offer accepted.  Because the distressed property sale are going down, there are more standard sale and a much easier time of getting your home bought or sold.

And, as always, if you have real estate questions or need to buy or sell a home, please feel free to call me, a local expert.  I will be honored to assist you.

CALIFORNIA LIVING!

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website