California January 2015 Home Sales Report
Median home prices are up but the VOLUME of sales is sliding in California in 2015…are these signs that the frenzied buying is slowing down?
Who are the Millennials? This is Who…
An interesting note about millennials is that, at a median income of $35,000 per year, it could take 10 years before a house purchase will be considered affordable, assuming a 20% down payment on a house in order to avoid personal mortgage insurance on a home mortgage.
December 2014 Home Sales Report
Great images now available with housing affordability in California!
December 2014 California Sales Report
California: $452,570
Calif. highest median home price by region/county December 2014: Marin, $990,130 million
Calif. lowest median home price by region/county December 2014: Glenn, $176,670
Calif. Pending Home Sales Index:
November 2014: Decreased 13.4 percent from 104.8 in October to 90.7 in November.
Calif. Traditional Housing Affordability Index: Second Quarter 2014: 30 percent (Source: C.A.R.)
Mortgage rates: Week ending 1/15/2014 (Source: Freddie Mac)
• 30-yr. fixed: 3.66% fees/points: 0.6%
• 15-yr. fixed: 2.98% fees/points: 0.5%
• 1-yr. adjustable: 2.37% Fees/points: 0.4%
Riverside-San Bernadino-Ontario Real Estate Report
Of the 25 largest Core Based Statistical Areas (CBSAs) based on population, Tampa-St. Petersburg-Clearwater, Fla., had the highest percentage of mortgaged properties in negative equity at 25.5 percent, followed by Phoenix-Mesa-Scottsdale, Ariz. (19.3 percent), Chicago-Naperville-Arlington Heights, Ill. (16.3 percent), Riverside-San Bernardino-Ontario, Calif. (15 percent) and Atlanta-Sandy Springs-Roswell, Ga. (14 percent). Entire report click here…http://www.corelogic.com/about-us/news/corelogic-reports-273,000-residential-properties-regained-equity-in-q3-2014.aspx
Mixed Signals in the Housing Market
Recently I have read how affordable home ownership has become, including how foreclosure filings are at a 7 year low. On the flip side, mortgage delinquencies are up! Mortgage delinquencies mean that the borrower is behind on their payments, but no sale is pending on the home. I believe if it weren’t for several states enacting new laws that delay foreclosure sales, the filing against delinquent borrowers would be much higher …http://dsnews.com/news/12-30-2014/foreclosures-falling-delinquency-rate-climbing
Short Sale Forgiveness Signed into Law
Short Sales transactions rejoice!! Under the Mortgage Debt Forgiveness Act, any mortgage forgiveness achieved in a short sale is not counted as income for homeowners whom banks allowed to sell their homes for less than the amount of their mortgage. Read here…http://www.housingwire.com/articles/32456-short-sale-tax-break-signed-into-law
November 2014 Home Sales Report
Calif. median home price: November 2014:
California: $445,280
Calif. highest median home price by region/county November 2014:
Marin, $1.11 million
Calif. lowest median home price by region/county November 2014:
Glenn, $92,000
Calif. Pending Home Sales Index:
November 2014: Decreased 13.4 percent from 104.8 in October to 90.7 in November.
Calif. Traditional Housing Affordability Index: Second Quarter 2014: 30 percent (Source: C.A.R.)
Mortgage rates: Week ending 12/18/2014 (Source: Freddie Mac)
30-yr. fixed: 3.80 % fees/points: 0.6%
15-yr. fixed: 3.09% fees/points: 0.6%
1-yr. adjustable: 2.38% Fees/points: 0.4%
October 2014 California Sales Report
Thanksgiving is right around the corner too!
Calif. median home price: October 2014:
California: $450,620
Calif. highest median home price by region/county October 2014:
San Mateo, $1.07 million
Calif. lowest median home price by region/county October 2014:
Tehama, $160,000
Calif. Pending Home Sales Index:
September 2014: Increased 2.6 percent from 99.78 in August to 102.4 in August.
Calif. Traditional Housing Affordability Index: Second Quarter 2014: 30 percent (Source: C.A.R.)
Mortgage rates: Week ending 11/13/2014 (Source: Freddie Mac)
30-yr. fixed: 4.01 % fees/points: 0.5%
15-yr. fixed: 3.20% fees/points: 0.5%
1-yr. adjustable: 2.43% Fees/points: 0.4%
Buy or Rent My Homes 