A slow finish for California real estate in 2010

Posted by ivan3411 on Jan 25, 2011 in Uncategorized | Comments Off

The year finished with a sales drop by 13.4 percent due to the weak performance of California real estate sales in the previous months, but December sales held a 15.3 percent gain over November, the California Association of Realtors.

The board said that there was a total of 36,215 condominiums and single-family homes were sold in the entire state of California last month. Houses in sales contracts, a barometer that will indicate the future activity,  were up by 3.2 percent from November and 4.6 percent from the year ago.

For the median price of homes sold last month it was $254,000, down both in monthly and yearly levels. When compared to November it shows a 0.4 difference from $255,000, and a 3.8 percent difference from $264,000 in December 2009. The median started to fall down in October after 11 consecutive months of increases.

Foreclosed properties have a total of 38.1 percent contribution to the overall sales in December. That number was up from November, which contributed 37.6 percent, below of what December 2009 had at 40.8 percent.

California home sales moved up 4.9 percent in May

Posted by ivan3411 on Jun 22, 2010 in Uncategorized | Comments Off

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.

Role of Loan Mortgage Calculator in Real Estate

Posted by Abarker on Jun 4, 2010 in Uncategorized | 1 comment

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 Update

Posted by ivan3411 on May 29, 2010 in Uncategorized | Comments Off

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.

California the top transient place in country

Posted by ivan3411 on May 26, 2010 in Uncategorized | Comments Off

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, Illinois, 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.

If you’re looking for a non transient place, you may want to consider Nashville TN Homes and Real Estate.

Southern Cal Home Sales ends up low in April

Posted by ivan3411 on May 19, 2010 in Uncategorized | 1 comment

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

California First Quarter Foreclosure Activity

Posted by ivan3411 on Apr 27, 2010 in Uncategorized | 1 comment

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.