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Investors and Cash Buyers Scoop Up Southland Homes in Record Amounts
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
Investors and Cash Buyers Scoop Up Southland Homes in Record Amounts
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
Investors and Cash Buyers Scoop Up Southland Homes in Record Amounts

March 16, 2012 (Chris Moore)

Monthly sales of new and existing homes in Southern California increased more than expected in February as investors and cash buyers accounted for a record amount of purchases during the month according to real estate information provider DataQuick.

Sales in the Southern California region, which includes Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, totaled 15,573 new and re-sale homes in February, a 7.2 percent increase from the 14,523 homes sold in January and 8.4 percent higher than the 14,369 homes sold in February of last year. It was the highest number of home sales for the month in five years.

Home sales in the area typically increase 1.1 percent between January and February and despite the larger than average increase, sales were still 12.3 percent below the average for the month of February. It was also the sixth time in the last seven months that year-over-year sales have seen an increase.

Cash buyers accounted for a record 32.8 percent of the homes sold for the month, up from a revised 32.2 percent in January, paying a median price of $200,000 for their purchases, the same as the previous month.

Absentee buyers, usually investors and vacation home buyers, accounted for a record high 29.7 percent of all sales, up from a revised 28.0 percent in January and paid a median price of $192,750 for the homes they purchased, down from $195,000 last month.

The median sales price paid for all new and re-sale homes in the Southern California region increased 1.8 percent in February to $264,750 from $260,000 in January. The median price a year ago was also $275,000.

The median sales price has declined year-over-year for the past 12 months and has declined or remained unchanged since December 2010.

Transactions below $300,000, where most cash buyers and investors make their purchases, was the only price spectrum to see an increase in sales activity last month.

The highest median sales price for homes in the region during the current housing cycle’s peak was $505,000 in mid-2007 while the lowest was $247,000 in April 2009.

John Walsh, president of DataQuick, “February sales got a big boost from investors and others paying cash for relatively affordable homes, as well as from an extra day’s worth of sales thanks to the leap year. Without the latter, sales might have been up a bit, but not to a five-year high. It’s just one more reason for us to remind everyone that January and February usually aren’t good months to use for forecasting purposes. The big picture remains one where the bottom of the housing market continues to see much of the action, while move-up activity remains sluggish. Financing is still difficult for many and lots of potential move-up buyers and sellers are stuck because they owe more than their homes are worth.”

Distressed properties accounted for 53.0 percent of the re-sale market in January, down from 53.9 percent in January, with foreclosure re-sales accounting for 32.5 percent of the market, down slightly from 32.6 percent in January, while short sales made up an estimated 20.5 percent of re-sales, down from 21.1 percent the previous month.

Tags: DataQuick, Southern California, new homes, re-sale homes, median price, home sales, investors, absentee buyers

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 16, 2012 (Chris Moore)

Monthly sales of new and existing homes in Southern California increased more than expected in February as investors and cash buyers accounted for a record amount of purchases during the month according to real estate information provider DataQuick.

Sales in the Southern California region, which includes Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, totaled 15,573 new and re-sale homes in February, a 7.2 percent increase from the 14,523 homes sold in January and 8.4 percent higher than the 14,369 homes sold in February of last year. It was the highest number of home sales for the month in five years.

Home sales in the area typically increase 1.1 percent between January and February and despite the larger than average increase, sales were still 12.3 percent below the average for the month of February. It was also the sixth time in the last seven months that year-over-year sales have seen an increase.

Cash buyers accounted for a record 32.8 percent of the homes sold for the month, up from a revised 32.2 percent in January, paying a median price of $200,000 for their purchases, the same as the previous month.

Absentee buyers, usually investors and vacation home buyers, accounted for a record high 29.7 percent of all sales, up from a revised 28.0 percent in January and paid a median price of $192,750 for the homes they purchased, down from $195,000 last month.

The median sales price paid for all new and re-sale homes in the Southern California region increased 1.8 percent in February to $264,750 from $260,000 in January. The median price a year ago was also $275,000.

The median sales price has declined year-over-year for the past 12 months and has declined or remained unchanged since December 2010.

Transactions below $300,000, where most cash buyers and investors make their purchases, was the only price spectrum to see an increase in sales activity last month.

The highest median sales price for homes in the region during the current housing cycle’s peak was $505,000 in mid-2007 while the lowest was $247,000 in April 2009.

John Walsh, president of DataQuick, “February sales got a big boost from investors and others paying cash for relatively affordable homes, as well as from an extra day’s worth of sales thanks to the leap year. Without the latter, sales might have been up a bit, but not to a five-year high. It’s just one more reason for us to remind everyone that January and February usually aren’t good months to use for forecasting purposes. The big picture remains one where the bottom of the housing market continues to see much of the action, while move-up activity remains sluggish. Financing is still difficult for many and lots of potential move-up buyers and sellers are stuck because they owe more than their homes are worth.”

Distressed properties accounted for 53.0 percent of the re-sale market in January, down from 53.9 percent in January, with foreclosure re-sales accounting for 32.5 percent of the market, down slightly from 32.6 percent in January, while short sales made up an estimated 20.5 percent of re-sales, down from 21.1 percent the previous month.

Tags: DataQuick, Southern California, new homes, re-sale homes, median price, home sales, investors, absentee buyers

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 16, 2012 (Chris Moore)

Monthly sales of new and existing homes in Southern California increased more than expected in February as investors and cash buyers accounted for a record amount of purchases during the month according to real estate information provider DataQuick.

Sales in the Southern California region, which includes Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, totaled 15,573 new and re-sale homes in February, a 7.2 percent increase from the 14,523 homes sold in January and 8.4 percent higher than the 14,369 homes sold in February of last year. It was the highest number of home sales for the month in five years.

Home sales in the area typically increase 1.1 percent between January and February and despite the larger than average increase, sales were still 12.3 percent below the average for the month of February. It was also the sixth time in the last seven months that year-over-year sales have seen an increase.

Cash buyers accounted for a record 32.8 percent of the homes sold for the month, up from a revised 32.2 percent in January, paying a median price of $200,000 for their purchases, the same as the previous month.

Absentee buyers, usually investors and vacation home buyers, accounted for a record high 29.7 percent of all sales, up from a revised 28.0 percent in January and paid a median price of $192,750 for the homes they purchased, down from $195,000 last month.

The median sales price paid for all new and re-sale homes in the Southern California region increased 1.8 percent in February to $264,750 from $260,000 in January. The median price a year ago was also $275,000.

The median sales price has declined year-over-year for the past 12 months and has declined or remained unchanged since December 2010.

Transactions below $300,000, where most cash buyers and investors make their purchases, was the only price spectrum to see an increase in sales activity last month.

The highest median sales price for homes in the region during the current housing cycle’s peak was $505,000 in mid-2007 while the lowest was $247,000 in April 2009.

John Walsh, president of DataQuick, “February sales got a big boost from investors and others paying cash for relatively affordable homes, as well as from an extra day’s worth of sales thanks to the leap year. Without the latter, sales might have been up a bit, but not to a five-year high. It’s just one more reason for us to remind everyone that January and February usually aren’t good months to use for forecasting purposes. The big picture remains one where the bottom of the housing market continues to see much of the action, while move-up activity remains sluggish. Financing is still difficult for many and lots of potential move-up buyers and sellers are stuck because they owe more than their homes are worth.”

Distressed properties accounted for 53.0 percent of the re-sale market in January, down from 53.9 percent in January, with foreclosure re-sales accounting for 32.5 percent of the market, down slightly from 32.6 percent in January, while short sales made up an estimated 20.5 percent of re-sales, down from 21.1 percent the previous month.

Tags: DataQuick, Southern California, new homes, re-sale homes, median price, home sales, investors, absentee buyers

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