San Gabriel Valley Real Estate

From East to West Reeds Are The Best!

6 things home buyers should avoid doing once they are preapproved for a mortgage

More Money Down Adds to U.S. First-Time Buyer Blues: Economy

6 things home buyers should avoid doing once they are preapproved for a mortgage

Kotkin: In The Future We’ll All Be Renters; America’s Disappearing Middle Class

A Look At The Housing Market Eight Years After The Collapse

Higher Housing Costs Aren’t Likely to Fade Soon, Fed Study Says

Mortgage Rates Slip to Near Lows for the Year

As Closing Costs Rise, Here’s How to Knock Them Down

What you should know …

*Lower interest rates in the second quarter of 2014 failed to offset continued home price increases, lowering housing affordability statewide and in 19 of 26 counties in California, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
*The percentage of home buyers who could afford to purchase a median-priced, existing singlefamily home in California fell from 33 percent in the first quarter of 2014 to 30 percent in secondquarter 2014 and was down from 36 percent in second-quarter 2013, according to C.A.R.’s Traditional Housing Affordability Index (HAI).
*Home buyers needed to earn a minimum annual income of $93,590 to qualify for the purchase of a $457,140 statewide median-priced, existing single-family home in the second quarter of 2014. The monthly payment, including taxes and insurance on a 30-year fixed-rate loan, would be $2,340, assuming a 20 percent down payment and an effective composite interest rate of 4.32 percent.
Beyond_the_Headlines_8-14-14

Contact Us!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on August 15, 2014 by and tagged , , , , , , .

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 1,152 other followers

Follow San Gabriel Valley Real Estate on WordPress.com

Disclaimer

Information provided on this website is deemed reliable but is not guaranteed accurate.

Contact Us!

Rich & Annie Reed
REALTORS
Long Dragon Realty
CalBRE# 01906230 & 01894384

(English/Spanish)
626-538-5116

(English/Chinese)
626-226-7862

%d bloggers like this: