Oil Prices Dropping, Good News or Bad News For Home Buyers

  The drastic drop in oil prices could put downward pressure on mortgage rates. The U.S. Energy Information Administration reported that the price of regular gasoline was $2.20 per gallon, its lowest point since a peak of $4 per gallon in May 2011. EIA estimates that the savings could amount to $550 per household in […]

Sales Slow But Remain Above Last Year

With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units […]

C.A.R.’s Predicts Home Prices to Increase in 2010

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 […]

California Association of Realtors – California Sales up 12% in July

Existing, single-family home sales increased 12 percent in July to a seasonally adjusted rate of 553,910 on an annualized basis. The statewide median price of an existing single-family home increased 3.9 percent in July to $285,480, compared with June 2009. Unsold Inventory Index fell to 3.9 months in July, compared with 6.9 months in July […]

Investors Driving Home Prices up

With so many foreclosures and all the negative news that you hear, it’s refreshing to hear that home inventories are decreasing. But this is making it difficult for home buyers in parts of the country where there are lots of foreclosures to buy. Investors are bidding up prices thousands above the original asking price. Federal […]

Banks Banking Their Foreclosures?

Are the banks holding off putting some of their foreclosures on the market? It looks like they might be to keep the prices of the real estate market from plunging further. Another reason could be that it helps them appear more solvent then they really are. According to the San Francisco Chronicle “Lenders nationwide are […]