The Biggest jump in home values in 7 years

by rossana 26. July 2013 16:02

Nationwide, home prices increase 2.6 percent from May to April according to a study by CoreLogic.  An approximate jump of 13.2 percent jump from January to June in home prices had been forecasted.  

Home price appreciation has been rapid  in the Western part of the United States. The biggest jump has been experienced in five states:

Nevad+26%

California+20.2%

Arizona+16.9%

Hawaii+16.1%

Oregon+15.5%

Localy, in Redondo Beach the average price for June was $860,453.

The lowest priced single family home in Redodo Beach, near the Galleria $499,000

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House affordability dropping

by rossana 14. July 2013 14:39

As interest rates increase and prices increase, the house affordability drops according to the National Association of Realtors.  The housing affordability index, HAI is a measure of the capacity of home buyers to acquire a home based on a median salary, median home price, a 20% down payment and a 25% of monthly salary allocated to principal plus interest payment.

The index still remains above 100 which indicates that nationwide a person earning a median salary will qualify for a median price home for a particular area.  

If you have not bought a home, what are you waiting for to get qualified to purchase one while the interest rates still remain low?

 

A 2 Bed, 1 Bath House on Redondo Beach listed for $800,000

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House affordability dropping

by rossana 14. July 2013 14:18

As interest rates increase and prices increase, the house affordability drops according to the National Association of Realtors.  The housing affordability index, HAI is a measure of the capacity of home buyers to acquire a home based on a median salary, median home price, a 20% down payment and a 25% of monthly salary allocated to principal plus interest payment.

The index still remains above 100 which indicates that nationwide a person earning a median salary will qualify for a median price home for a particular area.  

If you have not bought a home, what are you waiting for to get qualified to purchase one while the interest rates still remain low?

<p><a href="http://rossana.kwrealty.com">A 4 Bed, 3 Bath House on Aviation and Grant listed for $819,000</a></p>

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Short sales down as home values go up

by rossana 26. June 2013 07:30

The number of short sales nationwide is loosing favor among lenders as well as home owners. According to Realty track, during the first quarter, short sales experienced a 35 percent drop from last year's levels. Homeowners who owned more than their home value a year ago may be able to qualify for a standard sale or refinance.  This trend is also contributing to the shrinkage of inventory and pushing up the prices for banked owned properties.

The number or foreclosed homes reached its lowest levels since early 2008. Foreclosure sales made up 21 percent of the total market during the first quarter, 25 percent from last year.

There are two very good opportunities currently in the south bay area:

A 2 Bed, 3 Bath Town House on Emerald and Earl streets listed for $495,000

A 4 Bed, 3 Bath House on Aviation and Grant listed for $819,000

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Inventory | Keller Williams | Real Estate

U.S. House Values Continue to Rise

by rossana 14. June 2013 07:09

First quarter U.S. house prices remained strong increasing 1.9 percent from the previous quarter, according to the Federal Housing Finance Agency House Price Index. The index shows seven consecutive quarterly price increases. 

Home sales price information is calculated using mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. House prices rose 6.7 percent from the first quarter of 2012 to the first quarter of 2013.  The index also shows  that house prices for March where up 1.3 percent from February.

In the South Bay inventories remain tight, but there still are great opportunities like:

Gorgeous 4 bedroom, 2 1/2 bath on Vail and Ruhland with gourmet kitchen, 2,300 sqft, listed at $899,000

Large 2,600 sqft 4 bedroom, 4 bathroom on Van Ness and 183rd, listed at $659,000

 

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CAR | Home Sales | Real Estate | Redondo Beach | Torrance

Home Inventories Down!

by rossana 22. May 2013 07:22

According to the California Association of Realtors, home inventories are at its lowest levels since 2005.

These figures indicate that the housing market is coming back to normal where demand is high in the South Bay.

It is a good time to sale or upgrade in the south bay.

 

There are currently some excellent properties in the market for example:

 

 

Tags:

Hermosa Beach | Home Sales | Inventory | Keller Williams | Real Estate | Redondo Beach

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