The real estate market nationwide is definitely on the turn. Despite globally other countries worried about their respective economies it appears that here in the US our economy is starting to turn in in the right direction along with the housing market, where buyers are buying and inventory in certain areas is starting to decrease as the amount of unsold properties is worked through.
Here in California the news has been better than other parts of the nation! Buyers are understanding that a home is not just an financial investment, it is an investment in their future quality of life. Also the news out of a New York research firm, that Rental unit vacancies have just hit 7.5% nationwide – the highest they’ve been in 22 years as renters who have been considering purchasing for a while are finally realizing that now is the time to buy!
Realty Times reported this week that pending home sales rose sharply, by nearly 7 percent in all four major regions of the country, in the latest month measured by the National Association of Realtors.
Also, Mortgage rates continue to be favorable, at an average of 5.3% last week for 30 year fixed rate loans. According to the Mortgage Bankers Association’s weekly survey, new applications to buy houses increased by nearly 7% in the week ending July 3rd, which is really excellent news!
If you are a Renter who is looking at purchasing a property please contact us for advice on where to start. You may even be eligible for the first time homebuyer tax credit!
If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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Judy Kunisaki – CA DRE license 00963582
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[...] 15.7% of gross income to mortgage principal and interest, well below the standard allowance of 25%. Now is definitely the time to buy, despite lending being [...]
[...] 15.7% of gross income to mortgage principal and interest, well below the standard allowance of 25%. Now is definitely the time to buy, despite lending being [...]
[...] The news is great. Existing-home sales rose for the third consecutive month with inventory easing and home prices decli…. [...]
[...] latest article in the Malibu Times shows that potential purchasers who are looking at obtaining finance to buy a home and those who are refinancing are avoiding the big banks favoring smaller organizations with more [...]