A total of 40,965 new and previously owned houses and condos, and town houses sold last month. That data provided by MDA DataQuick represents an up in home sales in both the year-over-year and monthly levels. California Real Estate edged 9.3 percent from 37,481 units in April, and up slightly by 4.9 percent from 39,051 units sold in the same month last year.

Median home prices jump 9 percent from $255,000 in April and 20.9 percent over the year ago from $230,000. Last month median home sales price was at $278,000. The median increase in May was the seventh straight in year-over-year levels.

Foreclosure properties still a major contributor in the total home sales in May at 35 percent of the total existing homes sold. But that was down 3 percent in April and 15 percent the year earlier. February 2009 was the month that foreclosure made its biggest contribution at almost 60 percent.

The jump in sales that help the median price become higher has been driven by the large number of home buyers rushing in the market to close deals to take advantage of the state and federal tax incentives. State’s experts are still worry of what could be the situation of California housing market after all the closing deadline set on April 30, but it extended until September 30 of this year.

You can use a loan mortgage calculator to determine the amount of loan you can afford to borrow on a piece of real estate. You can use a loan mortgage calculator to basic cost, interest rate and the payment schedule of the loan that you are taking for a piece of real estate.

Role of loan mortgage calculator

A loan mortgage calculator gives you an idea about the amount of loan that you will get on a piece of real estate. You can use a loan mortgage calculator for the following purposes:

How much can you afford: A loan mortgage calculator enables you to know how much loan you can afford to borrow for a piece of real estate. You can calculate the monthly mortgage payments that you have to make with the help of a loan mortgage calculator.

Calculate front-end ratio: Generally, lenders look at your monthly income before granting your loan application. Lenders will grant your mortgage loan application only when your monthly payment for the real estate property will be less than 28% of your gross monthly income. This is known as front-end ratio. You can calculate this with the help of loan mortgage calculator.

Calculate back-end ratio: Mortgage lenders look at your debt expenses before granting you a loan. Your debt expenses have to be within 36% of your gross monthly income. This is called the back-end ratio. You can calculate this back-end ratio with the help of a loan mortgage calculator easily.

Calculate property expenses: You can calculate the property expenses including the insurance and real estate taxes that you have to pay. You have to purchase insurance on top of the mortgage loan. You can calculate the insurance cost with the help of loan mortgage calculator without any difficulty.

Calculate closing cost: You can calculate the closing cost (3% to 6% on the borrowed money) with the help of a loan mortgage calculator also.

Thus, loan mortgage calculator gives you an idea about the amount of loan that you can get on a piece of real estate. You can also calculate the amount of money that you have to spend for making the down payment on the mortgage loan.

California housing market tallied a total of 37,481 new and resale homes sold including condos last month. That data provided by the real estate news and custom data website the DQNews.com indicates that sales during that month was slightly up by 0.5 percent from the month prior to April with 37,295 units sold, compared to the April of last year home sales were down 1.3 percent from 37,967 units sold.

Median home sales price for homes sold last month was still the same of what it was in March at $255,000, but up in the same month the year earlier by 15.4 percent from $221,000. The median increased last month was the six consecutive increase in a year-over-year basis, following the 1 year and 6 six months decline.

With the overall home sales in April, 38.1 percent of these were foreclosure properties. That was below 1.8 percent from March as well as with the year ago from 54.6. California home sales peak in the second quarter of 2004 at 71,638 and hit the lowest point in 1995 at 27,625.

Based on latest moving trends data provided by an online moving services company shows that California state is on the Top among the places in the country with the most people moving in and moving out. But even though that state is on the top of the list still population remains unchanged for the reason that the number of people moving in are equal to the number of people that move out.

The second most transient state is Florida followed by Texas, New York, Georgia, Illois, Virginia and Arizona to complete the top eight lists. Among these states, Texas registered the highest population increase with nearly 50 percent, and New York population decline by 33 percent the highest in the nation.

Last month Southern California total home sales downshifted for the first time since 2008. Median home sales price was unchanged from March, but up by a decent percentage over the same month last year, according to the report published by the Real Estate Information Service, yesterday.

The major Southern California counties including Riverside, Los Angeles, Ventura, San Bernardino and Orange county combined with a total of 20,299 new and resale homes sold last month. That indicates a decrease of 0.9 percent compared with the month prior to April that sold 20,476 units, and down one percent compared with April 2009 from 20,514 homes sold.

State’s top market analyst said, a significant number of sales that would otherwise have closed escrow in April were delayed until May as buyers tried to take advantage of new state tax credits effective May 1. In addition, those who rushed to sign a sales contract last month before the April 30 deadline for a federal home buyer tax credit would likely close escrow in May or June.

In April homes sales price was at $258,000 same with March number, and edged 15.4 percent from $247,000 in April 2009. Middle months of 2007 was the time that median reached its highest point at $505,000. The sudden drop of median from its peak was in effect of lower home values together with home buyers and investors that prefers to buy low-cost homes just like REO’s, foreclosures and short sales.

The number of foreclosure properties that have been sold last month was 36.4 percent of the total home sales last month, a 38.3 percent below over March, and down 53.5 percent the year earlier. The second month of the current year was the highest recorded foreclosure resales contribution so far at 56.7 percent

According to the real estate information service report published on Wednesday, foreclosure activity in California declines in the first quarter of this year. After the formal foreclosure proceedings conducted by the lending institutions on fewer California homes it shows that total notices of defaults was down by 4.2 percent from 84,568 prior to this quarter, and down 40.2 percent from 135,431 in the same quarter last year. The period of January to March recorded a total of 81,054 notices of defaults.

California Real Estate posted a decent numbers during the month of March. Statewide, an estimated of 37,295 residential houses and condominiums were sold last month. That number represents an increase of nearly 33 percent over February that sold 28,111 units, and edge a 3 percent margin over March of 2009 with 36,215 units sold. Home sales peaked in 2005 that sold 68,848 homes and hit the lowest level at 24,565 homes sold in 2008.

Median home sales price was up by almost 3 percent from $249,000 in February and 14 percent up from $223,000 in the same period the year earlier. Median home sales price at the end of March was $255,000. California’s median reached its peaked in the first quarter of 2007, and bottomed in second quarter of 2009 at $221,000.

Out of 37,295 sold homes last month 40.5 percent of that were properties that were foreclosed on or during the past year. The last month foreclosure contribution to the overall sales was the second lowest next to 40.1 percent in November of 2009. Foreclosure activity in the state was getting lower every month, but sad to say that still it remains high based on its historical standards.

Home sales and home prices in Southern California last month were in good shape posting another month of increase. It was still due to the low prices and low mortgage rates that many home buyers in the area are taking advantage together with the Federal tax credit program for the first time home buyers that will end soon is also a factor in that increased.

In the last 30 days Southern California Real Estate tallied a total of 20,476 new and resale homes sold. That was up significantly by 33 percent over the month of February that sold 15,359 homes, and also up five percent from 19,506 units sold way back in March of last year. These are sold homes in the area of Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange County.

Median home sales price during last month was $285,000, above by 3.6 percent from $275,000 in February, and up as well by 14 percent compared with March 2009 median at $250,000. In April of last year recorded the lowest level of median at $247,000 and peaked in the middle of 2007 at $505,000.

Foreclosure properties shared almost 40 percent in the total homes sold last month, below by three percent in February, and down from 54.8 percent they year earlier.

Out of the 20 largest housing markets nationwide the city of Riverside took the top spot for the highest percentage of distressed home sales in the month of January, surpassing even the most distressed area for how many months the city of Las Vegas, according to the report issued on Thursday.

Riverside had got on the top of the list with 62 percent of the total existing homes sold were either foreclosure or short sale properties. The city of Las Vegas settled in the second spot at 59 percent and Sacramento with 58 percent that makes the city as the third highest distressed housing markets in the nation in January.

Meanwhile, San Diego short sale in January was the highest in the state of California sharing about 19 percent, followed by Sacramento and San Diego, respectively with 18 and 16 percent short sale share. Nationwide, short sale was up by seven percent from December and five percent over the last year.

After the year ending in January 2009, distressed sales tallied a total of 974,000 of which 740,000 were foreclosure sales and 234,000 were short sales.

The report that was issued yesterday by the Case-Shiller Home Price Index shows that the annual decline in home prices was the lowest in three years. It represents that there are surprising areas of strength in the U.S. housing market. California Real Esate strong comeback is the key in lifting home price index for eight months in a row.

Los Angeles recorded the highest monthly gain, where home prices were up by 1.8 percent from December. The area of San Diego was following the track with about 0.9 percent increased. While Phoenix area settled in third spot appreciated by 0.8 percent.

Overall, the survey report of Standard & Poor’s/Case-Shiller 20-city home price index survey shows that home prices nationwide was up by 0.3 percent in the period of December to January on a seasonally adjusted basis in 12 major cities. With the rising of home prices, consumer confidence index rose in March by 52.5 percent after consumer confidence went down in February bu losing nearly 11 points.