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California remains the nation’s priciest housing market

imagesCA9ELC9MFor the seventh consecutive quarter San Francisco, San Mateo, Redwood City,  California remains the nation’s priciest housing market, according to the NAHB index.  About 11 percent of homes sold in the second quarter there were affordable to families earning the area’s median income of $100,400.-

Cities that were found to be among the least affordable in the second quarter are:

  • Santa Ana-Anaheim-Irvine, Calif.
  • Los Angeles-Long Beach-Glendale, Calif.
  • San Jose-Sunnyvale-Santa Clara, Calif.
  • New York-White Plains-Wayne, N.Y.-N.J.

In general The Housing affordability is facing another hit due to higher home prices and qualifying income levels despite borrowing costs from mortgages rates remaining at their lowest levels of the year according to the National Association of Realtors latest reading on its Housing Affordability Index.  Nationally, affordability is down from 168.5 in June 2013 to 153.4 in June 2014

However, Homeowners are still able to take advantage of programs that allow them to refinance and lock in a low mortgage rate with price growth providing equity. Locking in a lower rate now will save money paid in interest for the long term.

Are You Deciding to Purchase Property?

Are You Deciding to Purchase Property?

Are You Deciding to Purchase Property?

By Sandy Flores

Special to Excelsior

Is there any reason for you not to buy a house? We all need a place to live and what better be a property. The main question is whether this is the best.

Most buyers always have doubts, not only about whether this is a good time to buy your own home, but also on whether they meet the requirements to do so, plus if the area is accessible to their places of work, schools, shopping establishments, freeways, among others.

blog25Another point is that a lot of consideration in addition to that you can qualify to purchase your home, you will want to know if payments will be at a level with which you feel financially secure and comfortable to be performed. Renting a property is always going to be an expense that ultimately will not produce any benefit in terms of financial investment concerns. Instead of buying a house it is a better investment.

Today we are experiencing a market and rapidly changing real estate. However, if you are people who prefer to delay the purchase of your own home just to see how the market goes, it’s almost hard to know how long you have to wait because it is impossible to determine precisely when these changes will occur and how. Even if you are in an area with declining prices in the market, even the most knowledgeable experts can reliably and accurately predict the “future” of a real estate market.

If you are renting is wasting seen that many of the benefits that are accompanied with the purchase of your own home. We could list many advantages, but the important thing is that in this market of real estate are experiencing an increase in the number of homes for sale, as well as incentives from some homeowners by providing partial or total help with the costs of paperwork to contribute to the buyer at their purchase cost.

The crucial factor is that prices have declined by about 30 percent compared to previous months. Interest rates are affordable and if you want to wait, there is a chance that they could go up, meaning that if the result goes your monthly interest will also be higher.

Really the best time to buy is determined by you based on all the factors that are currently experiencing. Buying a house has been and remains a good investment especially if you are well informed of their options, alternatives and obligations to perform it.

Buying a home is generally the easiest way to accumulate profit. You could say that three out of four people have more equity in your home that assets in retirement plans, mutual funds and savings through equity if they have not taken short term or through a refinancing.

Although no one can guarantee that your property rise in value or appreciate a specified period, usually observed positive long-term changes.

In general, a large number of homes for sale (normal sale, short sales and foreclosures by the bank, etc.) at much lower prices than in previous months, it’s good to stop and think and consider purchasing your house.

Get all the information you can to be more informed and also consider the help of a professional with experience in assisting first time buyers who can guide for detailed step by step on this very important process that is buying your first home.

Remember, the more guidance and information you have, the more confident you’ll make your home buying experience a pleasant and successful and financially successful.

 

Protection Against Mortgage Deficiency (Spanish)

Protection Against Mortgage Deficiency (Spanish)

Protection Against Mortgage Deficiency (Spanish)

Foreclosure’s Freeze (Spanish)

Foreclosure’s Freeze (Spanish)

Foreclosure’s Freeze (Spanish)

HARP Refinance – Home Affordable Refinance Act (Spanish)

HARP Refinance – Home Affordable Refinance Act (Spanish)

HARP Refinance – Home Affordable Refinance Act (Spanish)

Buying Your Home Awaits You (Spanish)

Buying Your Home Awaits You (Spanish)

Buying Your Home Awaits You (Spanish)

F.T.C Video (Spanish)

F.T.C Video (Spanish)

F.T.C Video (Spanish)

How to Avoid Being a Victim of Mortgage Fraud (Spanish)

How to Avoid Being a Victim of Mortgage Fraud (Spanish)

How to Avoid Being a Victim of Mortgage Fraud (Spanish)

Loans, Modifications, Short Sales and Refinance (Spanish)

Loans, Modifications, Short Sales and Refinance (Spanish)

Loans, Modifications, Short Sales and Refinance