Nov. 11, 2019

Home Sales in Southern CA Rose by 10.4%

SoCal home sales rose 10.4% for the year ended in September 2019, the largest year-over year jump in nearly 3 years

 

 

A dramatic drop in mortgage rates to below 4% — a tumble that was as much as a record breaking 1.33% drop motivated buyers to act in 2019.

 

Here’s how the selling broke down in key Southern California niches.

 

Existing single-family homes: 13,365 sold — up 11.8% in a year. Median price: $560,000 — up 3.2% in a year.

 

Existing condos: 4,236 sold — up 13.6% in a year. Median price: $450,000 — flat in a year.

 

New homes: 1,652 sold, down 3.2% in a year.

 

Median price: $552,000 — down 3.6% in a year. Builders’ share of all sales was 8.6% vs. 10.1% a year ago.

 

And buyers have fewer choices with 42,577 listings, down 9% in a year.

 

County-by-County Homebuying (Sept 2018-2019)

 

Los Angeles: Sales rose 7.3%; its median of $618,000 was up 3.9% in a year.

 

Orange: Sales rose 13.1%; its median of $723,000 was down 2.3% in a year.

 

Riverside: Sales rose 11.5%; its median of $393,000 was up 2.1% in a year.

 

San Bernardino: Sales rose 6.5%; its median of $351,000, up 5.7% in a year.

 

San Diego: Sales rose 14.7%; its median of $570,000, down 0.9% in a year.

 

Ventura: Sales rose 15.5%; its median of $588,500, down 0.3% in a year.

 

Nov. 6, 2019

Home Ownership Rates As Reported by the United States Census Bureau

Home Ownership Rates

https://www.census.gov/housing/hvs/data/rates.html

 

Interesting data from the recent posting from the United States Census Bureau about Home Ownership.

California shows home ownership hits a 9 year high.  That is great news!

However, California's rate of 56.3% of residents who own homes ranks 49th of the 50 states with only New York ranking the lowest at 51.6%. 

The top ten states of residents owning homes are:

West Virginia 78.1% 

New Hampshire 75.4%

Maine 74.4%

Mississippi 73.7%

Minnesota 73.4%

Michigan 73.3%

Idaho 73.1%

South Carolina 72.1%

Wyoming 72.1%

Delaware 71.9%

 

With an National Average of 67.2%

 

From this same report it shows that the Riverside/San Bernardino Counties are over 10% higher than California with home ownership of 67.7% - reaching an 11 year high and slightly above the national average. 

 

 

 

Nov. 5, 2019

How Much Are Entry Level Homes in CA?

BUYING A HOME IN CALIFORNIA

Nov. 1, 2019

Buyer Blunders

Blunders Some Home Buyers Make

Oct. 29, 2019

Benefits of Homeownership

benefits of homeownership

Oct. 21, 2019

Wealth, Your Home As An Asset

This is a really interesting chart (from Visual Capitalist) which shows that our primary residence is by far the most important asset for Americans with a net worth up to $1 million.

 

Oct. 21, 2019

I-Buying

We're all seeing lots of advertisements for different i-buyer sites that unfortunately don't tell you the whole truth about the high cost to the home seller.

This infographic doesn't even include a deduction that the i buyer companies take from the sale price for repairs on your home (no negotiating on this - they just do it.)

Posted in Selling Your Home
Aug. 16, 2019

Rim Lighting an Artist's Touch 2

Hey, I promised to tell you about our second day in Star Valley, Wyoming and what I did during my wife’s art class. 

Well, after the 18 plus miles the day before, I was not ready to do another long run, so is consulted the Google god and thought I would take a run up north, through Afton to a park called Canyon View Park.  According to the faults Google god it was only 4.2 miles away.  So I calculated that it would be an 8.4 mile run.  Very doable run and downhill according to my logic but this run ended up being over 13 miles!