April 2012

Found 13 blog entries for April 2012.

Monday, April 30, 2012— Mortgage rates moved into record low territory again last week, with the average rate on the benchmark 30-year fixed mortgage rate ticking lower to 4.09 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.43 discount and origination points.

The average 15-year fixed mortgage rate pulled back to 3.28 percent—also a record low t—while the jumbo 30-year fixed mortgage held at 4.61 percent. Adjustable mortgage rates were mixed, with the average 3-year adjustable down for a third consecutive week to a new low of 3.06 percent, while the 7-year and 10-year ARMs both inched higher, to 3.20 percent and 3.53 percent, respectively.

Although corporate earnings have

Read Full Post »

Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. "First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter

Read Full Post »

A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back.

From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.

[BIDWARS] Peter Earl McCollough for The Wall Street Journal

Debbie and Bill Wetherell received multiple offers for their home.

Read More

  • Home Builders' Health Improves

Vote and

Read Full Post »

First-quarter filings for L.A. County were down 18 percent from a year earlier and 7.4 percent from the previous three months, according to Dataquick. Statewide, the number of homes entering the foreclosure process fell to its lowest level in almost five years. All of which suggests that fears of another wave of foreclosure filings appear to have been wrong. From press release:

"Prices peaked five years ago and then started to fall off a cliff. Foreclosure activity goes up when property values decline, and the worst of that decline was happening three years ago. Right now, property values in many areas appear flat," said John Walsh, DataQuick president. "A few years back, there were some breathtakingly negative forecasts making the rounds…
Read Full Post »

Southern California home prices hit 6-month high

Wednesday, April 18th, 2012 at 7:37pm. 18 Views, 0 Comments.

Sales of high-end homes lifted prices to a six-month high in Southern California in March, as the region's housing market remained in a gradual recovery, a research firm said Tuesday.

There were 19,953 new and existing homes and condos sold in a six-county region, up 2.8 percent from a year earlier, DataQuick said, marking the third-straight annual increase and the seventh in eight months.

The median price was $280,000, down 0.2 percent from the same time last year and matching the highest level since September.

 Sales rose sharply from February, reflecting a usual seasonal increase as spring begins.

 "The year is young and lots

Read Full Post »

 

Priced right and prepped to show- Homes are receiving Multiple Offers- Orange County Real Estate

Wednesday, April 18th, 2012 at 7:42pm. 19 Views, 0 Comments.

Last week I wrote about my clients in the Classic Fountain Valley tract, north of Warner Avenue and east of Newhope Street, who received seven offers on their home. It sold for $8,100 over the list price of $569,900 within the first week on the market. The victorious buyers agreed to remove the appraisal contingency.

This past week, my seller in the Meadow Homes tract, south of Talbert Avenue and west of Bushard Street, received four offers on her home. John and Linh attended the open house. They wanted to buy it. They asked, and I agreed to represent them.

I disclosed that the

Read Full Post »

California Home Prices Going Up, Inventory Down, C.A.R. Reports

After 16 months of year-over-year declines, median home prices in California posted a gain, according to the California Association of Realtors.).

 

The median price of a single-family home for March 2012 was $291,080, a 1.6 percent increase compared to a revised $286,550 for March 2011, and a 9.2 percent increase compared to February’s median price of $266,660. The month-over-month increase was the largest since March 2004. 

When breaking up prices by specific regions, the San Francisco Bay area was an exception, seeing a year-over-year decrease of 1.6 percent, but a 9.1 percent month-over-month increase. 

“In areas, such as Los Angeles and Riverside counties, where the

Read Full Post »

After 16 months of year-over-year declines, median home prices in California posted a gain, according to the California Association of Realtors.).

The median price of a single-family home for March 2012 was $291,080, a 1.6 percent increase compared to a revised $286,550 for March 2011, and a 9.2 percent increase compared to February’s median price of $266,660. The month-over-month increase was the largest since March 2004.

When breaking up prices by specific regions, the San Francisco Bay area was an exception, seeing a year-over-year decrease of 1.6 percent, but a 9.1 percent month-over-month increase.

“In areas, such as Los Angeles and Riverside counties, where the Federal Housing Finance Agency (FHFA) wants to implement the REO bulk

Read Full Post »

After 16 months of year-over-year declines, median home prices in California posted a gain, according to the California Association of Realtors.).

The median price of a single-family home for March 2012 was $291,080, a 1.6 percent increase compared to a revised $286,550 for March 2011, and a 9.2 percent increase compared to February’s median price of $266,660. The month-over-month increase was the largest since March 2004.

When breaking up prices by specific regions, the San Francisco Bay area was an exception, seeing a year-over-year decrease of 1.6 percent, but a 9.1 percent month-over-month increase.

“In areas, such as Los Angeles and Riverside counties, where the Federal Housing Finance Agency (FHFA) wants to implement the REO bulk

Read Full Post »

Last week I wrote about my clients in the Classic Fountain Valley tract, north of Warner Avenue and east of Newhope Street, who received seven offers on their home. It sold for $8,100 over the list price of $569,900 within the first week on the market. The victorious buyers agreed to remove the appraisal contingency.

This past week, my seller in the Meadow Homes tract, south of Talbert Avenue and west of Bushard Street, received four offers on her home. John and Linh attended the open house. They wanted to buy it. They asked, and I agreed to represent them.

I disclosed that the seller had received three other offers. When an agent represents both the buyer and the seller, dual agency is established in which the Realtor cannot disclose to the buyer

Read Full Post »