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The latest good Real Estate news from C.A.R.'s site.
by Christian Cervantes on 07/12/12
CLICK HERE FOR THE LATEST BREAKING GOOD NEWS ABOUT CALIFORNIA REAL ESTATE!
$199,900 - River Access - Curlew Street in Northwest Stockton
by Christian Cervantes on 07/09/12
$199,900 - River Access
Almost 2,000 square feet
Approximately 1/3 acre lot
New flooring - New Paint - Stainless steel appliances
Curlew Street in Northwest Stockton
Click here for more photos, map, and details or call (209) 951-5555
Large home with a pool in North Stockton 95209
by Christian Cervantes on 07/01/12
2931 Monticello Drive, Stockton 95209
4 bdrm - 4 bath -swimming pool
2860 square feet - RV parking possible
$172,000
CALL (209) 951-5555
CALL (209) 951-5555
click the photo for map, more photos, and more details
CALL (209) 951-5555 to see the inside
California home sales rise to highest level in more than three years!
by Christian Cervantes on 06/27/12
California housing market continues to post strong gains in May,
home sales rise to highest level in more than three years; low inventory a
critical issue
LOS ANGELES (June 15) – California’s housing
market continued to improve in May, with home prices posting solid gains for the
third straight month and home sales well above last year’s pace, the CALIFORNIA
ASSOCIATION OF REALTORS® (C.A.R.) said today.
“California home sales were strong in May, continuing the gradual recovery of the California housing market,” said C.A.R. President LeFrancis Arnold. “First-time buyers are recognizing that the housing market has hit bottom and are now seeing a sense of urgency to take advantage of ultra-low interest rates and advantageous home prices. Additionally, trade-up buyers are returning to the market after sitting it out for the past few years to get in on favorable home prices.”
Closed escrow sales of existing, single-family detached homes in California climbed 3.4 percent from April’s revised 553,670 to a seasonally adjusted annualized rate of 572,260 in May, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. May sales surged 21.5 percent from May 2011’s revised 470,910 pace, marking the highest year-over-year sales increase since May 2009. The statewide sales figure represents what would be the total number of homes sold during 2012 if sales maintained the May pace throughout the year and is adjusted to account for seasonal factors that typically influence home sales.
The May 2012 sales pace was the highest since February 2009, when 598,770 homes were sold at a seasonally adjusted annualized rate.
Home prices appear to be stabilizing, with the median home price posting both month-over-month and year-over-year gains for the third consecutive month. The statewide median price of an existing, single-family detached home was $312,110 in May, the highest since September 2010.
May’s price was up 1 percent from a revised $309,050 in April and 6.6 percent from a revised $292,850 recorded in May 2011. The May 2012 figure was 27.3 percent higher than the cyclical bottom of $245,230 reached in February 2009. The median price has posted above the $300,000 level for the second straight month after remaining below that mark for 15 months.
The increase in the median price can be attributed to the strong sales increase in the higher-priced coastal regions, particularly in the San Francisco Bay Area, where job growth is strong and the economy is growing faster than other areas of the state.
California’s housing inventory sank lower in May, with the Unsold Inventory Index for existing, single-family detached homes dropping to 3.5 months in May, down from 4.2 months in April. May’s housing inventory was down from a revised 5.7 months in May 2011. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A 7-month supply is considered normal.
“Low housing inventory continues to be the critical issue in the California market,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Inventory levels have not been this low since December 2005, when the supply matched the current level. The Bay Area has the greatest shortage of homes for sale, with inventory levels in the two- to three-month range for Santa Clara, San Mateo, Alameda, and Contra Costa counties.”
Interest rates continued their downward trend in May, with 30-year fixed-mortgage interest rates averaging 3.80 percent, down from 3.91 percent in April and 4.64 percent in May 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.74 percent in May, down from 2.78 in April and 3.13 percent in May 2011.
Homes are moving faster on the market with the median number of days it takes to sell a single-family home dropping to 46.6 days in May, down from a revised 48.9 days in April and 52.0 days in May 2011.
Home for sale in Lincoln School District - 4 bdrm - 4 bath
by Christian Cervantes on 06/17/12
2053 Paloma Avenue - $174,900
Lincoln school district
New paint, appliances, carpet, roof, cabinets
New, new, new, new
4 bdrm - 4 bathroom
2364 square feet - in Colonial Heights just north of Parkwoods
CLICK FOR MORE PHOTOS, DETAILS, AND MAP
CALL (209) 951-5555
The Scoop on Closing Costs Involved in Buying a Home
by Christian Cervantes on 06/07/12
Are you a buyer preparing to close on a house? Now is a good time to refresh yourself on the most common closing costs.
There are more expenses to buying a house than just the monthly mortgage payment. More than likely you'll need to come up with some cold, hard cash in order to finalize the deal.
Here's some common closing costs to consider:
Congratulations on the decision to buy. Owning a home can be a wonderfully fulfilling experience. Just be sure you're ready for the closing costs coming your way!