Now is the time to buy. If you are a first time buyer, move up, downsizing or a experienced pro- you need to understand that waiting may price you out of the home of your dreams. The Federal government has made it clear that interest rates will not stay low and we are near the end of these ultra low rates! Lets us know how we can answer all of those question you may have.
The housing sector featured a mix of good and disappointing news. On the good side, Existing Home Sales for June rose by 2.6 percent to an annual rate of 5.04 million units. While this was above expectations, sales are below the numbers seen from a year ago. Meanwhile, New Home Sales for June unexpectedly declined by 8.1 percent from May to an annual rate of 406,000. New Home Sales are now down nearly 12 percent from June 2013.
There was good news for the labor markets, as weekly Initial Jobless Claims fell in the latest week to an eight-year low of 284,000. The four-week average of claims, which irons out seasonal abnormalities, reached its lowest level since May 2007. Jobless Claims are typically a leading indicator on the health of the labor market,
A combination of market factors may make you think you're getting priced out of the home market. But one observer believes first-time homebuyers might want to consider making a move.
"I know it's hard to face rising interest rates and rising home prices at the same time," says Ilyce Glink, real estate expert and managing editor of the Equifax finance blog. "The good news is there's still plenty of runway if you want to buy a house this year."
Glink believes first-time homebuyers should consider these five good reasons to buy a house before the end of the year:
Home prices are still off their highs
Yes, home prices are rising from the lows seen during the housing crash of 2008, but they're still nearly 20% off their mid-2006 peak. According to
The housing recovery looks to be losing steam. But that may not be a bad thing.
In the latest sign of a market that’s plateauing well below its past highs, home prices in Southern California grew at their slowest pace in two years in June, capping a spring selling season that never quite took off.
The median price of a home sold in the six-county Southland hit $415,000, according to real estate service DataQuick. That number is the biggest in four years, but 18% below the market’s high point in mid-2007.
And the furious gains seen this time last year are a thing of the past. In the last 12 months, home prices climbed 7.8%, barely one-fourth their pace in the prior year.
But if the market’s high-flying days are over, housing in
Lower interest rates and stabilizing home prices combined to boost home sales in June, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). However, diminished home affordability remains a challenge for buyers, particularly in high cost areas of the state.
Sales in June increased 1.5 percent from a revised 389,060 in May but were down 4.8 percent from a revised 414,830 in June 2013. June marked the eighth straight month that sales were below the 400,000 level and the eleventh straight decline on a year-over-year basis.
The statewide median price of an existing, single-family detached home slipped 2 percent from May’s median price of $466,320 to $457,160 but was up 6.6 percent from the revised $428,700
I spend a lot of time monitoring the home solar industry and passing new information on whenever it develops. As more companies emerge to help homeowners with solar energy projects, and the price of related equipment continues to drop, more and more people are considering making this environmentally friendly idea a reality.
A recent email from a long-time friend and resource, Jim Simcoe - founder and CEO of Simcoe Green Homes - proposed a few of the questions homeowners need to ask themselves, and some of the considerations that need to occur during that decision-making process.
The single question Simcoe says he gets asked most often is from people who want to know if they should go solar. His response: when considering solar, keep in mind that while…
The National Association of REALTORS® (NAR) reported that existing homes—including single-family homes, townhomes, condominiums, and cooperatives—sold at a pace of 4.89 million (SAAR) in May, up 4.9 percent from April but remain 5.0 percent below the 5.15 million pace a year-earlier.
REALTORS® generally expect home prices to increase in all states over the next 12 months, with most of the heavy growth in Florida, Texas, and California, according to the REALTORS® Confidence Index from the National Association of REALTORS®.
The median expected price increase is 4 percent. Approximately 41 percent of respondents reported that properties were on the market for less than a month when sold, and about 5 percent were on the market for more than six months.
REALTORS® reported continued weakness in seller traffic and a decline in buyer traffic. Low supply relative to demand, tougher lending standards, and the lackluster growth in income and savings were reported to be constraining sales.
The following is real-time real estate market report for the city of Yorba Linda, Ca brought to you by Tony Leocadion of Prudential California Realty.
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