While gathering the data for our latest Real Estate Market Update for the Sacramento Tri-Valley area. We found some fantastic news about our local real estate trends. In the Sacramento Market, Home Values are UP. With this positive news came a realization that homeowners have begun experiencing something familiar but not seen for quite a while, Equity. One great benefit of home ownership, Equity is the difference between your home’s value and the amount owed. As values increase and homeowners pay down their mortgages, real estate equity positions continue to rise. This ownership stake ultimately results in long-term personal wealth, which drives the economy.
So, you’ve got equity. Now what can you do? [Read More]
Thinking of buying and selling a home in northern California? Find A Home
Posted by Dave Thurman under General
Countertops can be one of the most important facets of your home in terms of both appearance and usability. Whether they are being installed in your bathrooms, your kitchen or otherwise, their ability to withstand regular wear and tear will add to the value of your property and leave a good impression on your guests.
That being said, selecting the right material to construct your countertops is critical to their longevity. And, as tests by Breton Spa in Italy have proven, man-made quartz surfaces perform outstandingly next to other countertop materials in several departments. Its engineering process combines ground quartz (one of earth’s most abundant minerals,) resins, polymers and pigments to produce a stone that is essentially a composite of many of the best qualities of each countertop material. [Read More]
From RISMedia’s Housecall
Posted by Dave Thurman under Real Estate
California’s housing market softened in October as both statewide sales and median price contracted from the previous month; however, the market is still on target to meet forecast projections, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
Making sense of the story
- Home sales exceeded the 400,000 level in October for the seventh consecutive month and posted higher on a year-to-year basis for the ninth straight month.
- Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 403,510 units in October, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.
- The October figure was down 5.1 percent from the revised 425,120 level in September and up 1.3 percent compared with home sales in October 2014 of a revised 398,510.
- The year-to-year increase was the lowest since January 2015 and was significantly below the six-month average of 9.7 percent observed between April 2015 and September 2015.
- The median price of an existing, single-family detached California home slipped 1.3 percent in October to $475,990 from a revised $482,150 in September.
- October’s median price was 5.7 percent higher than the revised $450,460 recorded in October 2014.
- While sales continued to improve from last year at the state level, the number of active listings continued to drop from the previous year. Active listings for California dropped 5.6 percent from September and decreased 7.6 percent from October 2014.
From C.A.R. ~ C.A.R. Market Matters is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing more than 175,000 REALTORS® statewide.
Existing Single-Family Home Sales
increased 6.9 percent year-to-year in September to a seasonally adjusted rate of 425,030 on an annualized basis.
Median Price of an existing single-family home increased 4.3 percent in September 2015 to $482,150, compared with September 2014 and a 2.3 percent decrease from August 2015.
Mortgage Trends Update
Source: Fannie Mae
Unsold Inventory Index in September remained at 3.7 months, compared with 4.2 months a year ago and well below the long-run average of about 7 months.
Housing Affordability Index
From CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)
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