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California Home Sales Bounce Back in August
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California Home Sales Bounce Back in August
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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California Home Sales Bounce Back in August
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September 19, 2011 (Shirley Allen)

Home sales in California rebounded from an 11.0 percent drop in July to an 8.8 percent gain in August as falling prices and low interest rates combine to give Californians record low monthly payments according real estate information provider DataQuick.

An estimated total of 37,734 new and resale houses and condos were sold in the Golden State in August. That was up from 34,695 sales in July and also up 10.2 percent from August 2010. Historically, California averages 48,344 home sales in the month of August.

The median price for a home in August decreased 1.2 percent to $249,000 from July’s median price of $252,000, and is down 4.2 percent from a median price of $260,000 in August of 2010. The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in April 2009.

Distressed properties continued to dominate the California market as 52.4 percent of all re-sales in August were distressed sales, up from 51.9 percent in July, with homes that had been foreclosed on in the previous twelve months accounting for 34.6 percent of the existing home sales in August.

That was up from 34.5 percent posted in the previous month of July but down from 35.6 posted in August of 2010.

Short sales increased to 17.8 percent of all re-sales last month, up from 17.3 percent in July and down from 18.0 percent in August of 2010.

The typical monthly mortgage payment for home buyers declined by $45 from July to August falling to $982, the lowest payment on record for California since DataQuick began keeping track in 1988.

The payment was also $63 less than the $1,045 payment observed in August 2010. August’s typical mortgage payment is 64.4 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

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September 19, 2011 (Shirley Allen)

Home sales in California rebounded from an 11.0 percent drop in July to an 8.8 percent gain in August as falling prices and low interest rates combine to give Californians record low monthly payments according real estate information provider DataQuick.

An estimated total of 37,734 new and resale houses and condos were sold in the Golden State in August. That was up from 34,695 sales in July and also up 10.2 percent from August 2010. Historically, California averages 48,344 home sales in the month of August.

The median price for a home in August decreased 1.2 percent to $249,000 from July’s median price of $252,000, and is down 4.2 percent from a median price of $260,000 in August of 2010. The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in April 2009.

Distressed properties continued to dominate the California market as 52.4 percent of all re-sales in August were distressed sales, up from 51.9 percent in July, with homes that had been foreclosed on in the previous twelve months accounting for 34.6 percent of the existing home sales in August.

That was up from 34.5 percent posted in the previous month of July but down from 35.6 posted in August of 2010.

Short sales increased to 17.8 percent of all re-sales last month, up from 17.3 percent in July and down from 18.0 percent in August of 2010.

The typical monthly mortgage payment for home buyers declined by $45 from July to August falling to $982, the lowest payment on record for California since DataQuick began keeping track in 1988.

The payment was also $63 less than the $1,045 payment observed in August 2010. August’s typical mortgage payment is 64.4 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

September 19, 2011 (Shirley Allen)

Home sales in California rebounded from an 11.0 percent drop in July to an 8.8 percent gain in August as falling prices and low interest rates combine to give Californians record low monthly payments according real estate information provider DataQuick.

An estimated total of 37,734 new and resale houses and condos were sold in the Golden State in August. That was up from 34,695 sales in July and also up 10.2 percent from August 2010. Historically, California averages 48,344 home sales in the month of August.

The median price for a home in August decreased 1.2 percent to $249,000 from July’s median price of $252,000, and is down 4.2 percent from a median price of $260,000 in August of 2010. The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in April 2009.

Distressed properties continued to dominate the California market as 52.4 percent of all re-sales in August were distressed sales, up from 51.9 percent in July, with homes that had been foreclosed on in the previous twelve months accounting for 34.6 percent of the existing home sales in August.

That was up from 34.5 percent posted in the previous month of July but down from 35.6 posted in August of 2010.

Short sales increased to 17.8 percent of all re-sales last month, up from 17.3 percent in July and down from 18.0 percent in August of 2010.

The typical monthly mortgage payment for home buyers declined by $45 from July to August falling to $982, the lowest payment on record for California since DataQuick began keeping track in 1988.

The payment was also $63 less than the $1,045 payment observed in August 2010. August’s typical mortgage payment is 64.4 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.