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California Home Sales Surge 15 Percent in December
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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 SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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California Home Sales Surge 15 Percent in December
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 Surge 15 Percent in December

January 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California surged in December while home prices remained steady even though distressed properties accounted for over half of all existing home sales during the month according to real estate information provider DataQuick.

An estimated total of 37,734 new and existing homes and condos were sold in the Golden State in December. That was 15.5 percent higher than the 32,669 homes sold in November and 4.2 percent higher than the 36,215 homes sold in December 2010. Historically, California typically averages 44,063 home sales in the month of December.

The median sales price for a home in California increased 0.8 percent to $246,000 from $244,000 in November but was 3.1 percent lower than the median price of $254,000 posted in December 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. Year-over-year home prices have declined for 15 consecutive months.

Distressed property sales accounted for 54.2 percent of all re-sales in December, up from a revised 53.9 percent in November, with homes that had been foreclosed on in the previous twelve months accounting for 34.2 percent of the existing home sales. That was up from a revised 32.9 percent posted in the previous month but down from 38.1 percent in December of 2010.

Short sales remained unchanged at 20.0 percent of all re-sales last month. In December of last year, short sales accounted for 17.8 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in December was $935, up slightly from $931 in November. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $924, reached in October of 2011.

The payment was still $120 less than the average mortgage payment of $1,055 in December of last year. December’s typical mortgage payment was 66.4 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

INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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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HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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January 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California surged in December while home prices remained steady even though distressed properties accounted for over half of all existing home sales during the month according to real estate information provider DataQuick.

An estimated total of 37,734 new and existing homes and condos were sold in the Golden State in December. That was 15.5 percent higher than the 32,669 homes sold in November and 4.2 percent higher than the 36,215 homes sold in December 2010. Historically, California typically averages 44,063 home sales in the month of December.

The median sales price for a home in California increased 0.8 percent to $246,000 from $244,000 in November but was 3.1 percent lower than the median price of $254,000 posted in December 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. Year-over-year home prices have declined for 15 consecutive months.

Distressed property sales accounted for 54.2 percent of all re-sales in December, up from a revised 53.9 percent in November, with homes that had been foreclosed on in the previous twelve months accounting for 34.2 percent of the existing home sales. That was up from a revised 32.9 percent posted in the previous month but down from 38.1 percent in December of 2010.

Short sales remained unchanged at 20.0 percent of all re-sales last month. In December of last year, short sales accounted for 17.8 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in December was $935, up slightly from $931 in November. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $924, reached in October of 2011.

The payment was still $120 less than the average mortgage payment of $1,055 in December of last year. December’s typical mortgage payment was 66.4 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

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

January 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California surged in December while home prices remained steady even though distressed properties accounted for over half of all existing home sales during the month according to real estate information provider DataQuick.

An estimated total of 37,734 new and existing homes and condos were sold in the Golden State in December. That was 15.5 percent higher than the 32,669 homes sold in November and 4.2 percent higher than the 36,215 homes sold in December 2010. Historically, California typically averages 44,063 home sales in the month of December.

The median sales price for a home in California increased 0.8 percent to $246,000 from $244,000 in November but was 3.1 percent lower than the median price of $254,000 posted in December 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. Year-over-year home prices have declined for 15 consecutive months.

Distressed property sales accounted for 54.2 percent of all re-sales in December, up from a revised 53.9 percent in November, with homes that had been foreclosed on in the previous twelve months accounting for 34.2 percent of the existing home sales. That was up from a revised 32.9 percent posted in the previous month but down from 38.1 percent in December of 2010.

Short sales remained unchanged at 20.0 percent of all re-sales last month. In December of last year, short sales accounted for 17.8 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in December was $935, up slightly from $931 in November. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $924, reached in October of 2011.

The payment was still $120 less than the average mortgage payment of $1,055 in December of last year. December’s typical mortgage payment was 66.4 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

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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.
SEARCH FOR A HOME
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

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