Stanislaus County home prices jump nearly 30 percent in one year

Stanislaus County homes sold for $40,000 more last month than they did a year ago, boosting June's median price to $175,000, just-released statistics show.

That nearly 30 percent year-over-year increase shows the real estate market recovery is solidly under way. But not everything is rosy in the housing industry.

There simply are not enough Stanislaus homes on the market to meet demand, agents insist. That's causing bidding wars and houses being sold for higher than their appraised values.


Full Story: http://www.modbee.com/2013/07/22/2820283/stanislaus-conty-home-prices-jump.html

Mortgage Lending Standards Loosen Slightly in June

Mortgage lending standards loosened slightly in June, indicating that mortgage credit is more available, according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association. The Index increased to 109.8 in June, which is almost one percent higher than the index reading from May. Lower Index values indicate lending standards are tightening, while higher index values and increases to the index are indicative of a loosening of credit.

Full Story: http://www2.realtoractioncenter.com/site/R?i=aJWFL6tZs8en9mLrwR7SCw

Consumer Mortgage Rate Expectations Spike

Potential home buyers may enter the purchase market sooner rather than later as more Americans expect mortgage rates and home prices to climb, according to results from Fannie Mae’s June 2013 National Housing Survey.

Full Story: http://www2.realtoractioncenter.com/site/R?i=3AgufiIVW0H6Mfc9xsY48g

How Buyers Use Technology in the Home Buying Process

The internet is now a normal part of our daily routine, so it is no surprise that it was an important tool to buyers in the home buying process. Ninety-six percent of buyers used the internet during the process, a significant rise from 28 percent in 2000, and 62 percent in 2005.

Full Story:  http://www2.realtoractioncenter.com/site/R?i=rX56T9bQhI3Pd7x5ln9bPg