The intense buyer competition for homes priced under $500k continues. The latest numbers from HousingTracker.net show that the median price has stabilized and is gradually rising, and that inventory (homes listed for sale) is down more than 27% from a year ago. Meanwhile, the number of homes sold each month continues to climb.
Do you think the tide has turned? Check this out if you'd like to find out more about the opportunities for first-time home buyers. Thinking about buying investment property? Sign up for a free home search and find your bargain!
Sunday, July 26, 2009
Wednesday, July 15, 2009
Home Sales Continue to Improve
Home sales in Orange County continue to show signs of recovery, and the good news is spreading up from the super-hot under-$500k market into the higher price ranges.
DataQuick reports that the number of homes sold in Southern California has jumped to it's highest level since 2006, and that the median price was up for the second consecutive month.
Perhaps the most encouraging tidbit in the report is this:
Foreclosures and Short Sales continue to be a significant portion of the active market, but most of that activity continues to be in the lower price ranges where homes are in extremely high demand.
What's the hottest spot in the OC? The Register reports that sales in Huntington Beach were up 19% in June compared to last year, topping the overall Orange County increase of 16.5%.
Interested in what's on the market in your neighborhood? Check out the Orange County Deal Detective - where you can customize a search for exactly what interests you.
DataQuick reports that the number of homes sold in Southern California has jumped to it's highest level since 2006, and that the median price was up for the second consecutive month.
Perhaps the most encouraging tidbit in the report is this:
Resales of single-family houses priced $500,000 and above rose to 19.6 percent of all existing houses sold in June, up from 18.0 percent in May but still down from 29.2 a year ago. The last time the $500,000-plus market made up more than 19 percent of sales was last October, when it was 19.9 percent. Sales of $500,000-plus houses dipped to as little as 13.4 percent of sales in January this year.
The recent shift toward higher-cost markets contributing more to overall sales has put upward pressure on the region’s median sale price...
Foreclosures and Short Sales continue to be a significant portion of the active market, but most of that activity continues to be in the lower price ranges where homes are in extremely high demand.
What's the hottest spot in the OC? The Register reports that sales in Huntington Beach were up 19% in June compared to last year, topping the overall Orange County increase of 16.5%.
Interested in what's on the market in your neighborhood? Check out the Orange County Deal Detective - where you can customize a search for exactly what interests you.
Wednesday, July 8, 2009
Down Payment Help From Surf City
If you currently live or work in Huntington Beach and would like to become a home owner, the city has a new program that may help you get there.
The city council just voted to scrap their controversial "foreclosure purchase" program in favor of a new initiative that provides down payment assistance for low-to-moderate income families.
The program provides over $1,000,000 to be loaned to qualified home buyers, with a maximum loan amount of $100,000 per buyer. The loans are "interest free", but call for a portion of any future profit from appreciation in the value of the home to be shared with the city. This "equity increase sharing" is phased out over time. If the buyer stays in the home for 30 years only the original loan principle would be due.
There are several qualification requirements, including residency and income limits, but for the right family this could be a real boost.
The program will be administered by the Affordable Housing Clearinghouse, which also administers several other programs.
Interested in what's available in Surf City? Click here to search for homes for sale in Huntington Beach.
The city council just voted to scrap their controversial "foreclosure purchase" program in favor of a new initiative that provides down payment assistance for low-to-moderate income families.
The program provides over $1,000,000 to be loaned to qualified home buyers, with a maximum loan amount of $100,000 per buyer. The loans are "interest free", but call for a portion of any future profit from appreciation in the value of the home to be shared with the city. This "equity increase sharing" is phased out over time. If the buyer stays in the home for 30 years only the original loan principle would be due.
There are several qualification requirements, including residency and income limits, but for the right family this could be a real boost.
The program will be administered by the Affordable Housing Clearinghouse, which also administers several other programs.
Interested in what's available in Surf City? Click here to search for homes for sale in Huntington Beach.
Subscribe to:
Posts (Atom)
Posts
