California Home Prices Expected to Rise 9.1 Percent This Year
California home prices
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) recently issued its mid-year housing market forecast. Based on C.A.R.’s forecast, the median home price in California is expected to rise 9.1 percent this year compared with last year, while sales of existing, single-family homes will decline 4.7 percent. Rates on 30-year, fixed-rate mortgages will rise to 5.3 percent compared with 5.1 percent in 2009 and 15-year mortgages will average 4.2 percent compared with 4.7 percent last year, according to the forecast
Chula Vista California real estate
San Diego Home For Sale 3Br-2.5Ba
San Carlos Spacious (1,800+’) Townhome
Three Bedroom – 2.5 Bath +Fam. Rm
Extremely desirable and rarely available ‘D’ plan.
This is the largest model in Mariposa! Sunny ‘end’ location!
Plus, it’s located in a quiet ‘inside’ location facing a green-belt!
Recently installed new kitchen appliances & finished elegant MBA remodel.
This model is actually larger than many SFH’s in the neighborhood! Plus, it’s only attached on one side & faces a green-belt. Tile entry flooring, classy wallpaper, vertical blinds & draperies, newer paint in kitchen creates an elegant modern atmosphere. Plus, whole house fan, dramatic vaulted ceilings. Family room w/raised brick fireplace. Functional breakfast nook.
Elevated dining room. Large library area, perfect for in-home office. The spacious Master Bedroom has walk-in closet. Good size patio w/added gate is perfect for al fresco dining or lazy afternoons.
This Spanish townhome combines warmth, comfort, and efficiency. All windows dual glazed for energy conservation. Copper water lines installed! Attached 2-car garage w/ newer opener & direct access into home. Complex has solar pool, spa!
Mariposa is a world away in feeling . . . a world of green hillsides, natural canyons, the San Diego River, and a very attractive community. Right next-door is the 5,700-acre Mission Trails Regional Park, one of the nation’s largest urban-area parks, a preserved wonderland of rugged backcountry, deep gorges, wood-shaded creeks, lake and hiking trails. Truly, a very unique place to live and share in all that San Diego has to offer without a long commute. Low $160 dues!
Value Ranged $399,900 to $424,900
All measurements are approximate. Sq. Ft. is per builder’s flyer. Seller to select all related services.
For further details, please click: San Diego home for sale
Improvement in Real Estate Short Sales
Real estate short sales
The Home Affordable Foreclosure Alternatives (HAFA) program, announced in November 2009 and fully implemented April 5, is the government’s answer to the problem. It’s a supplement to the February 2009 Home Affordable Modification Program (HAMP) that outlines a separate set of criteria for short sales or deeds-in-lieu to address the group of homeowners who are facing foreclosure because loan modification hasn’t worked out. Read more 
New Housing Falls to Five-Month Low
housing starts
In my post yesterday (San Diego California Home Prices Increase), I said how the true San Diego re-sale prices and market activity will not be reflected until July sales are reported in August. I also said how it looked like real estate activity was slowing after the government tax credits expired. Today’s housing starts data supports my idea of a slowing real estate market that seems ready for a double-dip.
San Diego California Home Prices Increase
San Diego home sales
San Diego California home prices rose last month, for the eighth month in a row, as buyers took advantage of tax credits and low mortgage rates. MDA DataQuick reported that the May median price stood at $340,000, up 4.5 percent from April and up 15.3 percent from a year ago.
The combination of tax incentives and low mortgage rates helped stoke sales in mid- to high-end areas, where distress has increased over the last year and sellers have become more motivated and realistic.
FHA’s 90-day Property Anti-Flipping Rule
FHA home loans
In January, the Department of Housing and Urban Development (HUD) instituted a one-year moratorium on the FHA’s 90-day anti-flipping rule. As a result, beginning Feb. 1, buyers could use FHA-insured financing to purchase properties resold through private developers and investors, providing access to a broader array of recently foreclosed properties. Under the temporary waiver all transactions must be arm’s-length, and most properties will require additional documentation of improvements and justification of the price increase. Additional documentation may include a second appraisal and a property inspection ordered by the lender. Read more