California Homes Sales - January 2012

California Homes Sales - January 2012

Okay, so, the DQ News January Home Report has been released.  The California Home Report for January is quite interesting.  Now remember, all real estate is extremely local at this time - even down to the neighborhood.  While this report is statewide but still gives an great picture of what's actually happening in California.

  

More than 28,000 condos and houses were sold in January.  Is that good you ask?  When compared with December that figure is down 25.5%.  However when compared with January of 2011, that's up 1.5%. This figure combines existing homes and new homes together.  More than half of these home sales were distressed properties.  So we are still seeing quite a few short sales and foreclosures which is projected to happen all the way through 2013.  

This information is good for home buyers.  Combined with the fact that the interest rates are to stay low until the end of 2013, and inventories of homes are dropping, NOW is the perfect time to purchase your new home!

 Home prices appear to still be dropping.  The month of January boasts a median home price of $236,000 which is down 4.1% from December 2011 and down 1.3% from the previous January.  I believe this will continue to happen for a few more months.  However, if you purchase a home now with the expectation of owning it for at least five years, you should be able to recap your original purchase money and will probably have some equity as things start to edge back up.

The mortgage payment average in January was $893 which is the lowest since February 1999 when it was at $882.  When adjusted for inflation purposes, it was the lowest since 1988.  Good for homeowners!  This mortgage payment is really feasible for almost everyone you can think of.  And buyers are being more conscious and aware beforehand, making sure that the mortgage payment will not put them in dire straits.  Again, good for the buyers!

For more information you should click on the link provided above.

As always, if you want to buy, sell or lease real estate in the area, or simply have questions about real estate, please feel free to contact me.  I will be more than happy to assist you. Call me for your free home market analysis!

Warmest Regards,
Linda K. Mayer,

Realtor, Office Manager  

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

LindaKMayer@live.com

Linda's Website

California Home Sales in November 2011

California Home Sales in November 2011

Okay, so a bit late due to the holidays, but never the less, here it is.  Your California report for November.  

According to DQ News, the home sales completed were down 4.2% from October 2011 and up 4% from November 2010.  we could assume that this means we are on the roller coaster of an uphill run.  What I mean by that is that year over year we are trending upward, but the last month was higher so we are going up and down still from month to month at this point.  Foreclosures and short sales - distressed sales - are still making up more than half the total of our homes sale here in California.  

The median home price paid in November was up to $244,000 which is up 1.7% from October and down 4.3% from last November.  It's hard to tell if we are still trending down from this or if it was simply a bad month.  But with home prices in my area still falling one would assume that the state as a whole is falling as well. And the mortgage payments that homeowners committed themselves to in November was $931, up from $924 in October and down from $1010 in November 2010.  

You can read more about it HERE.

If you are interested in buying or selling or simply have questions about real estate, please feel free to contact me.  I will be more than happy to assist you!

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