California home sales and median price are predicted to improve only slightly in 2012, as the continuation of the tepid economic recovery, uncertainty about the future, and funding challenges for residential mortgages are expected to keep the market moving sideways, with little foreseeable momentum in either direction, according to C.A.R.’s “2012 California Housing Market Forecast” released Tuesday.
The forecast, which was presented today by C.A.R. Chief Economist Leslie Appleton-Young during her luncheon at CALIFORNIA REALTOR® EXPO 2011, says that California home sales next year is for a slight 1 percent increase to 496,200 units, following essentially flat sales of 491,100 homes this year compared to the 491,500 homes sold in 2010.
The California median home price will increase 1.7 percent in 2012 to $296,000 in 2012, according to the forecast. Following a double-digit increase in the median price in 2010, the median home price will decrease a projected 4 percent in 2011 to $291,000.
Full Article:
http://www.car.org/newsstand/newsreleases/2011newsreleases/2012forecast/
Tuesday, September 27, 2011
Tuesday, September 13, 2011
Cashing in on Rental Property
Most of the news lately about real estate has been dismal: Home prices are swooning, foreclosures ballooning.
There is, however, one bright spot: the rental market, where demand is up and rents are rising. That's partly because those foreclosures have turned more than 4 million former homeowners into renters, but also because many other prospective homeowners, worried about losing their jobs or housing prices falling a lot further still, are reluctant to buy now.
As with many investments, the best time to get in is when most others are sitting on the sidelines.
Full Story:
http://money.cnn.com/2011/08/30/real_estate/rental_property_investing.moneymag/index.htm?iid=SF_M_LN
There is, however, one bright spot: the rental market, where demand is up and rents are rising. That's partly because those foreclosures have turned more than 4 million former homeowners into renters, but also because many other prospective homeowners, worried about losing their jobs or housing prices falling a lot further still, are reluctant to buy now.
As with many investments, the best time to get in is when most others are sitting on the sidelines.
Full Story:
http://money.cnn.com/2011/08/30/real_estate/rental_property_investing.moneymag/index.htm?iid=SF_M_LN
Friday, September 9, 2011
Mortgage rates hit record lows in Freddie Mac survey
Mortgage rates have plunged to all-time lows amid concerns the economy is stalling again, Freddie Mac said Thursday. Lenders were offering the 30-year fixed-rate home loan at an average rate of 4.12 percent this week, down from 4.22 percent last week.
Full Story:
http://latimesblogs.latimes.com/money_co/2011/09/mortgage-rates-record-lows-freddie-mac.html
Full Story:
http://latimesblogs.latimes.com/money_co/2011/09/mortgage-rates-record-lows-freddie-mac.html
Subscribe to:
Posts (Atom)
Posts
