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California Home Sales Rise in February
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
READY TO TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
California Home Sales Rise in February
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
California Home Sales Rise in February

March 20, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California increased slightly in February along with a modest increase in home prices, though unlike home sales, prices still remained below last year’s levels according to real estate information provider DataQuick.

An estimated total of 29,630 new and existing homes and condos were sold in the Golden State in February. That was 5.4 percent higher than the 28,111 homes sold in January and 8.5 percent higher than the 27,320 homes sold in February 2011.

Home sales in the area typically increase slightly between January and February and despite being 7.5 percent below the historical average of 32,017 sales for the month, it was still the best showing for the state since 2007.

The median sales price for a home in California increased 1.3 percent to $239,000 from $236,000 in January but was still 2.0 percent lower than the median price of $244,000 posted in February of 2011. California hasn’t seen an increase in its year-over-year median home price in 17 months.

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. Year-over-year home prices have declined for 16 consecutive months.

Distressed property sales accounted for 55.2 percent of all re-sales in February, down slightly from a revised 55.5 percent in January, with homes that had been foreclosed on in the previous twelve months accounting for 34.3 percent of the existing home sales. That was unchanged from the revised amount in January but down from 40.1 percent in February of 2011.

Short sales accounted for an estimated 20.9 percent of all re-sales last month, down from a revised 21.2 in January. In February of last year, short sales accounted for 18.7 percent of all existing home sales.

Low mortgage interest rates and the softest home prices in years continued to help California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in February was $901, up slightly from $893 in January. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $882, reached in February 1999.

The payment was $132 less than the average mortgage payment of $1033 in February of last year. February’s typical mortgage payment was 67.4 percent lower than it was during the current cycle’s peak in June 2006.

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

Source:
DataQuick

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
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THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
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March 20, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California increased slightly in February along with a modest increase in home prices, though unlike home sales, prices still remained below last year’s levels according to real estate information provider DataQuick.

An estimated total of 29,630 new and existing homes and condos were sold in the Golden State in February. That was 5.4 percent higher than the 28,111 homes sold in January and 8.5 percent higher than the 27,320 homes sold in February 2011.

Home sales in the area typically increase slightly between January and February and despite being 7.5 percent below the historical average of 32,017 sales for the month, it was still the best showing for the state since 2007.

The median sales price for a home in California increased 1.3 percent to $239,000 from $236,000 in January but was still 2.0 percent lower than the median price of $244,000 posted in February of 2011. California hasn’t seen an increase in its year-over-year median home price in 17 months.

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. Year-over-year home prices have declined for 16 consecutive months.

Distressed property sales accounted for 55.2 percent of all re-sales in February, down slightly from a revised 55.5 percent in January, with homes that had been foreclosed on in the previous twelve months accounting for 34.3 percent of the existing home sales. That was unchanged from the revised amount in January but down from 40.1 percent in February of 2011.

Short sales accounted for an estimated 20.9 percent of all re-sales last month, down from a revised 21.2 in January. In February of last year, short sales accounted for 18.7 percent of all existing home sales.

Low mortgage interest rates and the softest home prices in years continued to help California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in February was $901, up slightly from $893 in January. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $882, reached in February 1999.

The payment was $132 less than the average mortgage payment of $1033 in February of last year. February’s typical mortgage payment was 67.4 percent lower than it was during the current cycle’s peak in June 2006.

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

Source:
DataQuick

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 20, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California increased slightly in February along with a modest increase in home prices, though unlike home sales, prices still remained below last year’s levels according to real estate information provider DataQuick.

An estimated total of 29,630 new and existing homes and condos were sold in the Golden State in February. That was 5.4 percent higher than the 28,111 homes sold in January and 8.5 percent higher than the 27,320 homes sold in February 2011.

Home sales in the area typically increase slightly between January and February and despite being 7.5 percent below the historical average of 32,017 sales for the month, it was still the best showing for the state since 2007.

The median sales price for a home in California increased 1.3 percent to $239,000 from $236,000 in January but was still 2.0 percent lower than the median price of $244,000 posted in February of 2011. California hasn’t seen an increase in its year-over-year median home price in 17 months.

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. Year-over-year home prices have declined for 16 consecutive months.

Distressed property sales accounted for 55.2 percent of all re-sales in February, down slightly from a revised 55.5 percent in January, with homes that had been foreclosed on in the previous twelve months accounting for 34.3 percent of the existing home sales. That was unchanged from the revised amount in January but down from 40.1 percent in February of 2011.

Short sales accounted for an estimated 20.9 percent of all re-sales last month, down from a revised 21.2 in January. In February of last year, short sales accounted for 18.7 percent of all existing home sales.

Low mortgage interest rates and the softest home prices in years continued to help California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in February was $901, up slightly from $893 in January. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $882, reached in February 1999.

The payment was $132 less than the average mortgage payment of $1033 in February of last year. February’s typical mortgage payment was 67.4 percent lower than it was during the current cycle’s peak in June 2006.

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

Source:
DataQuick

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS