August 2016 breakdown – California sales were down, median prices up = TIGHT SUPPLY! Anyone searching for a new home or searching for a rental keeps hearing this tune over and over; inventories are low. Additionally frustrating purchases might have also been talk of an increase in interest rates by the Fed in the Fall. We have continued to purchase homes at a steady pace but nowhere near our peak three years ago.
Take a look! Home pricing is getting MORE expensive! The median price of a home has now reached over $500K statewide! What is driving the growth in pricing? Take a closer look! Sales of single family homes DECREASED from last year and the previous year! From my conversations more homeowners are staying put, making housing more scarce and driving prices of existing homes higher. Many homeowners are taking advantage of lower property taxes by holding onto what real estate they have instead up trading up or down. Questions? Email me for more assistance on how to buy or sell a home in this market!
PET FRIENDLY with $250 pet deposit per pet – NO breed or weight restrictions!
2 Bedrooms, 1 Bathroom , 1,320 Sq Ft. living space – $1,895/mos. parking behind house – sorry no back yard.
Contact me directly about this house at 310 936 6830 – Thanks – Paul
191 E 68Th Way
Long Beach, CA 90805
Our CL Ad:
For those who follow the affordability levels here in California will notice that house affordability is DOWN 2%…
- median home price: June 2014:
- Pending Home Sales Index:
June 2014: Decreased 2.8 percent from 110.1 in May to 107 in June.
Calif. Traditional Housing Affordability Index: Second Quarter 2014: 30 percent (Source: C.A.R.)
- California: $451,160
- Calif. highest median home price by region/county June 2014: San Mateo, $1.12 million
- Calif. lowest median home price by region/county June 2014:
Mortgage rates: Week ending 8/7/2014 (Source: Freddie Mac)
- 30-yr. fixed: 4.14% fees/points: 0.7%
- 15-yr. fixed: 3.27% fees/points: 0.6%
- 1-yr. adjustable: 2.35% Fees/points: 0.5%