The combination of affordable home prices, low interest rates, and the federal tax credit for home buyers have created an opportune time for many buyers to purchase a home. Many real estate analysts also believe that most housing markets have stabilized, but that some markets may decline further. MAKING SENSE OF THE STORY FOR CONSUMERS [...]
By John J. O’Dell Are we finally be nearing the bottom of the market? I understand in talking to some real estate agents that inventory in some areas of Placer County are starting to get thin. Accoridng to Trulia.com, price reductions of homes on the market declined 21 percent as of February 1. This is [...]
Existing-home sales fell as expected in December after first-time buyers rushed to complete deals during the months leading up to the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009, according to the National Association of REALTORS®. Existing-home sales—including single-family, townhomes, condominiums and co-ops—fell 16.7 [...]
Home sales will increase 15 percent to about 5.7 million units and REALTOR® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS® today in a residential economic update at the 2009 NAR Conference & Expo. Yun credited the home buyer tax credit with unleashing sales [...]
The median home price in California will rise 3.3 percent to $280,000 in 2010 compared with a projected median of $271,000 this year, according to C.A.R.’s “2010 California Housing Market Forecast,” presented today at CALIFORNIA REALTOR® EXPO 2009 in San Jose. Sales for 2010 are projected to decrease 2.3 percent to 527,500 units, compared with [...]
The latest figures from ForeclosureRadar show that the number of distressed filings in California, one of the worst hit states in the country, fell in August. Notices of default in California, which is the first step in the foreclosure process, dropped from July to 36,396 filings, a monthly dip of 19.1% and a 14.2% decrease [...]
The National Community Reinvestment Coalition (NCRC) filed a consumer protection complaint to the Federal Trade Commission alleging Zillow.com is misleading consumers, real estate professionals and financial service providers. Humm, I don’t know too many consumers, real estate professionals and financial service providers that put much stock in home prices by Zillow.com or other on-line valuation [...]
Home sales continue upward in Nevada County, increasing by 7% for the period April, May and June of this year compared to the same period last year. Nationwide, they have continued upward for the fifth consecutive month, the first time in six years for such a streak, according the National Association of Realtors® Twitter This [...]
Well, you can get a room full of economists and get a room full of different opinions. But according to USA Today it seems that two-thirds of the economists agree that we may have hit bottom. Here’s the article, let’s let a little sunshine in. “Economic recovery is still a few months away, say economists [...]
While there may be another storm of foreclosures on the horizon, at least for now there are some signs of recovery for our housing market. California is the bell weather of the economy for the nation. Any sign that the housing market in California is recovering is a sign that the economy is recovering. It’s [...]
