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Mortgage rates hit record low, existing home sales fallJuly 2010 the lowest interest rates since Freddie Mac began tracking the numbers in 1971 The average for 30-year fixed loans was 4.56%, down from 4.57% last week., the lowest since Freddie Mac began tracking the numbers in 1971. For 15-year fixed loans, the average was 4.03%.
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Southern California home sales dip, median price rises from ’09
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Home Prices in Phoenix Area
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Home Prices in Phoenix AreaHome price declines may be slowing Phoenix, AZ The Phoenix Business Journal, May 18, 2009: Phoenix Home Values and House Prices as mentioned by zillow.com shows these number: 2000 : $105.000 The ASU-Repeat Sales Index, which measures changes in year-to-year average home prices, shows a record drop of 37 percent in the index from February 2008 to February 2009. According to the ASU-RSI report, declining prices from February 2008 to February 2009 were ranged from 40 percent in Glendale to 16 percent in Tempe. |
Home Prices in San Diego CountySan Diego County home prices, sales numbers rise in April More sales means higher or lower home prices? January 2009: $280.000 Single-family resale homes rose from a low of $319,000 in March to $325,000 in April. The latest median was 24.4 percent below April 2008’s $430,000. Resale condos were up $2,000 to $182,000 from their low, also set in March, and down 39.3 percent from a year ago, when the median stood at $300,000. A week earlier Roger Showley, Staff Writer for the Union-Tribune had this headline: San Diego home prices drop at quick pace San Diego County home prices dropped 29.6 percent over the last year, twice the national rate, the National Association of Realtors reported Tuesday. His statement is not really clear. The prices have dropped significantly could have been a better statement as the last few months the market is even up a 0.5%. Anyway nice how they tweak the numbers for you. |
Statements/ conclusions1. Who are you listing to now. The same “realtors” and other specialist who were (95% + of them) totally wrong with their forecast for home prices in 2005, 2006, 2007 and 2008. Ask for arguments, assumptions and 80% has no clue, guessing that is what they like. 2. The house prices in San Diego have dropped to a level where: Income: not positive Jobs/ new companies: not positive People looking for a deal: yes, 5 ARM at 3.875% this week (conforming loan) makes it attractive to buy a home for 605 of the price it was in 2006. Slow market?: Yes, I assume that currently lots of home owner with very limited or no or negative equity will stay in their house for longer than planned, especially when interest might be up to 7% - 8% in a few years (it does not make sense to move when the cost of the loan increase with 40% + due to higher interest rates. The amount of home buyers will likely not extremely increase, as relatively many people bought already homes (see also how more people bought cars every 2.5 year instead of every 4 year….). Yes, and of course the lovely interest rate also mean 20% + down. So, no 20% cash means no 4- 5% loan. more discussion and information about San Diego Home Prices.
The Phoenix Business Journal, May 18, 2009:
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