Posted by Lily Lam on July 22, 2010 – 12:01 pm
Sales of foreclosure properties accounted for 31 percent of all residential sales nationwide in the first quarter, according to a foreclosure sales report published by RealtyTrac□ The report also showed that the average sales price of properties that sold while in the foreclosure process was nearly 27 percent less than the average sales price of properties not in the foreclosure process.
A total of 144,503 bank-owned (REO) properties were sold to third parties in the first quarter, a decrease of 13 percent from the previous quarter and down 27 percent compared with the first quarter of 2009. REO sales accounted for 19 percent of all sales in the first quarter, up from nearly 16 percent in the previous quarter, but down from 21 percent of all sales in the first quarter of 2009. REOs sold for an average discount of 34 percent, up from an average discount of nearly 32 percent in both the previous quarter and the first quarter of 2009.
Foreclosure sales accounted for 51 percent of all sales in California in the first quarter, up slightly from 50 percent in the fourth quarter, but down from 70 percent of all sales in the first quarter of 2009, according to the report.
Article from: C.A.R Newsline
Posted by Lily Lam on July 6, 2010 – 11:51 am
President Obama signed a bill this morning extending the closing deadline for the federal home buyer tax credit to Sept. 30, 2010. The bill is retroactive and covers the lapse period from June 30, 2010 to the date of enactment of the extension. Congress passed the bill earlier this week.
Nearly 180,000 home buyers would have missed out on the tax credit had Congress and the president not taken action to extend the deadline to close escrow. Estimates from NAR show as many as 17,700 home buyers in California would not have received the tax credit without the extension.
Article from www.car.org
Posted by Lily Lam on July 1, 2010 – 2:27 pm
NEW YORK (CNNMoney.com) — First-time homebuyers will have until Sept. 30 to close on their purchases and land an $8,000 tax credit under a bill passed by the Senate late Wednesday.
President Obama is expected to sign the bill, which was overwhelmingly approved by the House on Tuesday. The deadline had been June 30.
The bill doesn’t help anyone currently shopping for a home. Buyers must have signed a contract by April 30 to qualify for the tax break. At issue is when the deal must be finalized.
Qualified existing homeowners also have until Sept. 30 to close on new homes and receive a tax credit of up to $6,500.
Congress has been trying to pass the extension for the last month, but it got caught up in Washington politics. Only when it was separated from a larger jobs bill did deficit-wary lawmakers sign off on it. The extension will lower the deficit by $9 million over a decade since it is offset by certain other provisions.
Posted by Lily Lam on June 24, 2010 – 12:11 pm
Median home prices contained in this chart were generated from DataQuick Information Systems.The price statistics are derived from all types of home sales — new and existing, condos and single-family. Movements in sales prices should not be interpreted as changes in the cost of a standard home. Median prices can be influenced by changes in cost, as well as changes in the characteristics and size of homes sold. Due to the low sales volume in some cities or areas, median price changes may exhibit unusual fluctuation.
The following counties were not available at the date of this Press Release: Alameda, Merced, San Mateo.
| County/City/Area |
May 2010 |
May 2009 |
Y-T-Y %
Change |
| Contra Costa County |
$290,000.00 |
$234,750.00 |
24% |
| Antioch |
$210,000.00 |
$171,000.00 |
23% |
| Brentwood2 |
$275,000.00 |
$270,000.00 |
2% |
| Concord |
$269,000.00 |
$235,000.00 |
14% |
| Danville |
$850,000.00 |
$785,500.00 |
8% |
| Discovery Bay |
$295,000.00 |
$302,500.00 |
-2% |
| Hercules |
$315,500.00 |
$250,000.00 |
26% |
| Lafayette |
$928,500.00 |
$805,000.00 |
15% |
| Martinez |
$315,000.00 |
$300,750.00 |
5% |
| Moraga |
$668,500.00 |
$680,000.00 |
-2% |
| Oakley |
$225,000.00 |
$200,000.00 |
13% |
| Pinole |
$283,000.00 |
$260,000.00 |
9% |
| Pittsburg |
$175,050.00 |
$132,750.00 |
32% |
| Pleasant Hill |
$422,000.00 |
$405,000.00 |
4% |
| Richmond |
$170,000.00 |
$97,000.00 |
75% |
| San Pablo |
$154,500.00 |
$146,750.00 |
5% |
| San Ramon |
$585,750.00 |
$618,500.00 |
-5% |
| Walnut Creek |
$480,000.00 |
$470,000.00 |
2% |
| El Dorado County |
$290,000.00 |
$325,000.00 |
-11% |
| El Dorado Hills |
$428,000.00 |
$450,500.00 |
-5% |
| Placerville |
$241,000.00 |
$215,000.00 |
12% |
| Shingle Springs |
$239,500.00 |
$318,000.00 |
-25% |
| South Lake Tahoe |
$290,000.00 |
$298,000.00 |
-3% |
| Fresno County |
$165,000.00 |
$153,500.00 |
7% |
| Clovis |
$235,000.00 |
$246,500.00 |
-5% |
| Fresno |
$160,000.00 |
$135,000.00 |
19% |
| Reedley |
$185,000.00 |
$171,000.00 |
8% |
| Sanger |
$131,500.00 |
$146,500.00 |
-10% |
| Selma |
$165,000.00 |
$131,500.00 |
25% |
| Kern County |
$144,750.00 |
$125,000.00 |
16% |
| Bakersfield |
$148,000.00 |
$125,750.00 |
18% |
| California City |
$67,500.00 |
$56,250.00 |
20% |
| Delano |
$132,000.00 |
$118,500.00 |
11% |
| Ridgecrest |
$180,000.00 |
$165,000.00 |
9% |
| Rosamond |
$115,000.00 |
$114,000.00 |
1% |
| Tehachapi |
$178,000.00 |
$197,000.00 |
-10% |
| Los Angeles County |
$345,000.00 |
$300,000.00 |
15% |
| Agoura Hills |
$430,000.00 |
$530,000.00 |
-19% |
| Alhambra |
$405,000.00 |
$485,000.00 |
-16% |
| Altadena |
$580,500.00 |
$425,000.00 |
37% |
| Arcadia |
$636,500.00 |
$702,500.00 |
-9% |
| Azusa |
$280,000.00 |
$237,500.00 |
18% |
| Baldwin Park |
$225,500.00 |
$210,000.00 |
7% |
| Bellflower |
$350,000.00 |
$307,000.00 |
14% |
| Brentwood |
$1,085,000.00 |
$885,000.00 |
23% |
| Burbank |
$510,000.00 |
$460,000.00 |
11% |
| Calabasas |
$865,000.00 |
$955,000.00 |
-9% |
| Canoga Park |
$326,000.00 |
$299,000.00 |
9% |
| Canyon Country |
$305,000.00 |
$288,000.00 |
6% |
| Carson |
$312,500.00 |
$305,000.00 |
2% |
| Castaic |
$409,500.00 |
$375,000.00 |
9% |
| Cerritos |
$512,500.00 |
$562,000.00 |
-9% |
| Chatsworth |
$425,000.00 |
$401,500.00 |
6% |
| Compton |
$182,000.00 |
$152,000.00 |
20% |
| Covina |
$325,000.00 |
$291,500.00 |
11% |
| Culver City |
$426,000.00 |
$501,000.00 |
-15% |
| Diamond Bar |
$420,000.00 |
$470,000.00 |
-11% |
| Downey |
$375,000.00 |
$392,000.00 |
-4% |
| Duarte |
$285,000.00 |
$257,500.00 |
11% |
| El Monte |
$308,000.00 |
$293,000.00 |
5% |
| Encino |
$490,000.00 |
$549,000.00 |
-11% |
| Gardena |
$297,500.00 |
$315,000.00 |
-6% |
| Glendale |
$429,000.00 |
$465,000.00 |
-8% |
| Glendora |
$402,500.00 |
$355,000.00 |
13% |
| Granada Hills |
$363,000.00 |
$417,250.00 |
-13% |
| Hacienda Heights |
$381,250.00 |
$358,000.00 |
6% |
| Hawthorne |
$405,000.00 |
$300,000.00 |
35% |
| Huntington Park |
$230,000.00 |
$205,000.00 |
12% |
| Inglewood |
$235,000.00 |
$243,000.00 |
-3% |
| La Crescenta |
$552,500.00 |
$477,500.00 |
16% |
| La Mirada |
$385,000.00 |
$352,500.00 |
9% |
| La Puente |
$247,500.00 |
$230,000.00 |
8% |
| La Verne |
$409,500.00 |
$446,750.00 |
-8% |
| Lakewood |
$400,000.00 |
$385,000.00 |
4% |
| Lancaster |
$130,000.00 |
$100,000.00 |
30% |
| Long Beach |
$303,000.00 |
$274,500.00 |
10% |
| Los Angeles |
$320,000.00 |
$295,000.00 |
8% |
| Lynwood |
$210,000.00 |
$199,000.00 |
6% |
| Manhattan Beach |
$1,555,000.00 |
$1,391,000.00 |
12% |
| Marina Del Rey |
$655,000.00 |
$590,000.00 |
11% |
| Mission Hills |
$312,250.00 |
$290,000.00 |
8% |
| Monrovia |
$438,409.00 |
$464,500.00 |
-6% |
| Montebello |
$323,000.00 |
$325,000.00 |
-1% |
| Monterey Park |
$440,000.00 |
$412,500.00 |
7% |
| Newhall |
$288,500.00 |
$290,000.00 |
-1% |
| North Hills |
$335,000.00 |
$340,000.00 |
-1% |
| North Hollywood |
$322,500.00 |
$335,000.00 |
-4% |
| Northridge |
$481,500.00 |
$495,000.00 |
-3% |
| Norwalk |
$280,000.00 |
$252,500.00 |
11% |
| Pacoima |
$227,000.00 |
$200,000.00 |
14% |
| Palmdale |
$165,000.00 |
$125,000.00 |
32% |
| Panorama City |
$220,000.00 |
$215,000.00 |
2% |
| Paramount |
$202,250.00 |
$196,000.00 |
3% |
| Pasadena |
$482,500.00 |
$495,000.00 |
-3% |
| Pico Rivera |
$280,000.00 |
$263,000.00 |
6% |
| Playa Del Rey |
$370,000.00 |
$380,000.00 |
-3% |
| Pomona |
$212,500.00 |
$194,500.00 |
9% |
| Rancho Palos Verdes |
$769,000.00 |
$881,000.00 |
-13% |
| Redondo Beach |
$657,500.00 |
$652,500.00 |
1% |
| Reseda |
$307,500.00 |
$280,000.00 |
10% |
| Rosemead |
$350,000.00 |
$400,500.00 |
-13% |
| Rowland Heights |
$430,000.00 |
$363,000.00 |
18% |
| San Dimas |
$355,500.00 |
$360,000.00 |
-1% |
| San Fernando |
$210,000.00 |
$225,000.00 |
-7% |
| San Gabriel |
$555,000.00 |
$517,000.00 |
7% |
| San Pedro |
$383,000.00 |
$325,000.00 |
18% |
| Santa Clarita |
$379,000.00 |
$341,500.00 |
11% |
| Santa Monica |
$770,000.00 |
$811,750.00 |
-5% |
| Sherman Oaks |
$708,500.00 |
$562,500.00 |
26% |
| South Gate |
$232,500.00 |
$232,500.00 |
0% |
| Stevenson Ranch |
$485,500.00 |
$583,500.00 |
-17% |
| Studio City |
$643,500.00 |
$725,500.00 |
-11% |
| Sun Valley |
$290,000.00 |
$255,000.00 |
14% |
| Sunland |
$345,000.00 |
$413,000.00 |
-16% |
| Sylmar |
$320,000.00 |
$260,000.00 |
23% |
| Tarzana |
$302,500.00 |
$567,500.00 |
-47% |
| Temple City |
$499,500.00 |
$468,500.00 |
7% |
| Torrance |
$540,000.00 |
$510,250.00 |
6% |
| Tujunga |
$330,000.00 |
$382,500.00 |
-14% |
| Valencia |
$380,000.00 |
$420,000.00 |
-10% |
| Valley Village |
$540,000.00 |
$460,500.00 |
17% |
| Van Nuys |
$359,500.00 |
$320,000.00 |
12% |
| Walnut |
$531,250.00 |
$545,000.00 |
-3% |
| West Covina |
$368,000.00 |
$330,000.00 |
12% |
| West Hills |
$423,500.00 |
$445,500.00 |
-5% |
| West Hollywood |
$880,000.00 |
$605,000.00 |
45% |
| Whittier |
$335,000.00 |
$305,000.00 |
10% |
| Winnetka |
$331,000.00 |
$318,000.00 |
4% |
| Woodland Hills |
$406,500.00 |
$454,000.00 |
-10% |
| Los Angeles Selected Areas |
|
|
|
| Westside |
$838,500.00 |
$1,080,000.00 |
-22% |
| West La |
$655,000.00 |
$600,000.00 |
9% |
| Downtown La/Central City |
$528,250.00 |
$472,000.00 |
12% |
| South La |
$210,000.00 |
$174,000.00 |
21% |
| North East La |
$299,250.00 |
$265,000.00 |
13% |
| San Fernando Valley Selected Areas |
|
|
|
| San Fernando Valley |
$345,000.00 |
$326,500.00 |
6% |
| West San Fernando Valley |
$360,000.00 |
$350,000.00 |
3% |
| Northeast San Fernando Valley |
$300,000.00 |
$280,000.00 |
7% |
| Southeast San Fernando Valley |
$392,000.00 |
$377,500.00 |
4% |
| Southwest Los Angeles Selected Areas |
|
|
|
| Beach Cities |
$867,500.00 |
$801,000.00 |
8% |
| South Bay |
$551,500.00 |
$512,000.00 |
8% |
| Long Beach (90810) |
$230,000.00 |
$225,500.00 |
2% |
| Mar Vista |
$667,000.00 |
$585,000.00 |
14% |
| Palos Verdes Estates |
$1,262,500.00 |
$1,149,000.00 |
10% |
| Palos Verdes Peninsula Area |
$1,000,000.00 |
$1,010,000.00 |
-1% |
| Westchester |
$720,000.00 |
$602,500.00 |
20% |
| Madera County |
$137,000.00 |
$127,000.00 |
8% |
| Madera |
$131,500.00 |
$122,750.00 |
7% |
| Marin County |
$676,000.00 |
$630,000.00 |
7% |
| Mill Valley |
$954,500.00 |
$837,000.00 |
14% |
| Novato |
$527,000.00 |
$450,000.00 |
17% |
| San Anselmo |
$667,500.00 |
$735,750.00 |
-9% |
| San Rafael |
$411,000.00 |
$595,000.00 |
-31% |
| Monterey County |
$255,000.00 |
$185,000.00 |
38% |
| Pacific Grove |
$515,500.00 |
$547,250.00 |
-6% |
| Salinas |
$232,500.00 |
$180,000.00 |
29% |
| Seaside |
$276,750.00 |
$240,000.00 |
15% |
| Soledad |
$153,000.00 |
$155,000.00 |
-1% |
| Napa County |
$350,000.00 |
$366,000.00 |
-4% |
| Napa |
$315,000.00 |
$355,000.00 |
-11% |
| Nevada County |
$275,000.00 |
$360,000.00 |
-24% |
| Grass Valley |
$257,750.00 |
$295,000.00 |
-13% |
| Nevada City |
$269,000.00 |
$365,000.00 |
-26% |
| Truckee |
$379,000.00 |
$500,000.00 |
-24% |
| Orange County |
$445,000.00 |
$412,000.00 |
8% |
| Aliso Viejo |
$419,000.00 |
$373,000.00 |
12% |
| Anaheim |
$350,000.00 |
$318,000.00 |
10% |
| Brea |
$435,000.00 |
$556,000.00 |
-22% |
| Buena Park |
$405,000.00 |
$365,000.00 |
11% |
| Costa Mesa |
$450,000.00 |
$520,000.00 |
-13% |
| Cypress |
$444,500.00 |
$475,000.00 |
-6% |
| Dana Point |
$562,500.00 |
$690,000.00 |
-18% |
| Foothill Ranch |
$510,000.00 |
$455,000.00 |
12% |
| Fountain Valley |
$602,000.00 |
$556,500.00 |
8% |
| Fullerton |
$376,000.00 |
$425,000.00 |
-12% |
| Garden Grove |
$342,000.00 |
$329,000.00 |
4% |
| Huntington Beach |
$561,500.00 |
$540,500.00 |
4% |
| Irvine |
$578,227.00 |
$557,500.00 |
4% |
| La Habra |
$355,000.00 |
$270,000.00 |
31% |
| La Palma |
$541,000.00 |
$525,000.00 |
3% |
| Ladera Ranch |
$542,500.00 |
$552,500.00 |
-2% |
| Laguna Beach |
$960,000.00 |
$1,050,000.00 |
-9% |
| Laguna Hills |
$480,000.00 |
$397,500.00 |
21% |
| Laguna Niguel |
$501,250.00 |
$525,500.00 |
-5% |
| Lake Forest |
$425,000.00 |
$410,500.00 |
4% |
| Los Alamitos |
$625,000.00 |
$648,000.00 |
-4% |
| Mission Viejo |
$504,000.00 |
$430,000.00 |
17% |
| Newport Beach |
$1,100,000.00 |
$705,000.00 |
56% |
| Orange |
$461,000.00 |
$435,000.00 |
6% |
| Placentia |
$468,750.00 |
$427,000.00 |
10% |
| Rancho Santa Margarita |
$347,500.00 |
$345,000.00 |
1% |
| San Clemente |
$599,000.00 |
$610,000.00 |
-2% |
| San Juan Capistrano |
$450,000.00 |
$285,000.00 |
58% |
| Santa Ana |
$300,500.00 |
$220,000.00 |
37% |
| Seal Beach |
$719,000.00 |
$740,000.00 |
-3% |
| Trabuco Canyon |
$545,000.00 |
$677,500.00 |
-20% |
| Tustin |
$438,000.00 |
$480,000.00 |
-9% |
| Westminster |
$422,500.00 |
$400,000.00 |
6% |
| Yorba Linda |
$645,000.00 |
$555,000.00 |
16% |
| Placer County |
$274,500.00 |
$295,500.00 |
-7% |
| Auburn |
$290,000.00 |
$352,000.00 |
-18% |
| Granite Bay |
$640,000.00 |
$505,000.00 |
27% |
| Lincoln |
$250,000.00 |
$261,250.00 |
-4% |
| Rocklin |
$285,000.00 |
$288,000.00 |
-1% |
| Roseville |
$270,500.00 |
$290,000.00 |
-7% |
| Riverside County |
$210,000.00 |
$180,000.00 |
17% |
| Banning |
$147,000.00 |
$112,500.00 |
31% |
| Beaumont |
$206,000.00 |
$199,000.00 |
4% |
| Cathedral City |
$162,000.00 |
$153,954.50 |
5% |
| Corona |
$336,750.00 |
$308,000.00 |
9% |
| Desert Hot Springs |
$110,000.00 |
$82,000.00 |
34% |
| Hemet |
$130,000.00 |
$121,000.00 |
7% |
| Indio |
$189,250.00 |
$171,000.00 |
11% |
| La Quinta |
$330,000.00 |
$325,000.00 |
2% |
| Lake Elsinore |
$180,000.00 |
$170,000.00 |
6% |
| Menifee |
$215,000.00 |
$205,500.00 |
5% |
| Mira Loma |
$340,000.00 |
$277,500.00 |
23% |
| Moreno Valley |
$165,000.00 |
$130,000.00 |
27% |
| Murrieta |
$249,000.00 |
$230,000.00 |
8% |
| Norco |
$297,250.00 |
$370,000.00 |
-20% |
| Palm Desert |
$308,000.00 |
$295,000.00 |
4% |
| Palm Springs |
$227,250.00 |
$200,000.00 |
14% |
| Perris |
$170,000.00 |
$132,000.00 |
29% |
| Rancho Mirage |
$490,000.00 |
$459,000.00 |
7% |
| Riverside |
$200,000.00 |
$177,000.00 |
13% |
| San Jacinto |
$135,500.00 |
$130,000.00 |
4% |
| Sun City |
$175,000.00 |
$146,500.00 |
19% |
| Temecula |
$270,000.00 |
$240,000.00 |
13% |
| Wildomar |
$210,000.00 |
$233,000.00 |
-10% |
| Winchester |
$235,500.00 |
$240,000.00 |
-2% |
| Sacramento County |
$182,000.00 |
$175,000.00 |
4% |
| Antelope |
$190,000.00 |
$200,000.00 |
-5% |
| Carmichael |
$250,000.00 |
$247,500.00 |
1% |
| Citrus Heights |
$169,000.00 |
$165,000.00 |
2% |
| Elk Grove |
$235,000.00 |
$240,000.00 |
-2% |
| Fair Oaks |
$220,000.00 |
$287,500.00 |
-23% |
| Folsom |
$350,000.00 |
$352,500.00 |
-1% |
| Galt |
$172,500.00 |
$167,500.00 |
3% |
| North Highlands |
$120,000.00 |
$85,500.00 |
40% |
| Orangevale |
$213,750.00 |
$203,500.00 |
5% |
| Rancho Cordova |
$233,500.00 |
$235,000.00 |
-1% |
| Sacramento |
$150,000.00 |
$131,250.00 |
14% |
| San Benito County |
$278,750.00 |
$246,500.00 |
13% |
| San Bernardino County |
$160,000.00 |
$137,750.00 |
16% |
| Adelanto |
$90,000.00 |
$75,000.00 |
20% |
| Apple Valley |
$123,500.00 |
$100,000.00 |
24% |
| Barstow |
$54,000.00 |
$65,000.00 |
-17% |
| Big Bear City |
$140,500.00 |
$217,500.00 |
-35% |
| Big Bear Lake |
$231,000.00 |
$301,750.00 |
-23% |
| Bloomington |
$160,000.00 |
$100,000.00 |
60% |
| Chino |
$299,000.00 |
$260,000.00 |
15% |
| Chino Hills |
$437,750.00 |
$405,000.00 |
8% |
| Colton |
$121,000.00 |
$100,000.00 |
21% |
| Crestline |
$102,500.00 |
$138,500.00 |
-26% |
| Fontana |
$221,000.00 |
$182,000.00 |
21% |
| Hesperia |
$115,500.00 |
$122,000.00 |
-5% |
| Highland |
$171,750.00 |
$183,500.00 |
-6% |
| Joshua Tree |
$76,500.00 |
$98,000.00 |
-22% |
| Lake Arrowhead |
$402,500.00 |
$321,500.00 |
25% |
| Loma Linda |
$244,000.00 |
$284,000.00 |
-14% |
| Montclair |
$259,500.00 |
$221,500.00 |
17% |
| Ontario |
$210,000.00 |
$193,500.00 |
9% |
| Rancho Cucamonga |
$307,500.00 |
$287,500.00 |
7% |
| Redlands |
$215,000.00 |
$222,500.00 |
-3% |
| Rialto |
$165,000.00 |
$130,000.00 |
27% |
| San Bernardino |
$105,000.00 |
$70,000.00 |
50% |
| Twentynine Palms |
$79,250.00 |
$70,750.00 |
12% |
| Upland |
$344,000.00 |
$320,000.00 |
8% |
| Victorville |
$127,000.00 |
$109,500.00 |
16% |
| Yucaipa |
$205,000.00 |
$208,000.00 |
-1% |
| Yucca Valley |
$102,000.00 |
$109,250.00 |
-7% |
| San Diego County |
$339,000.00 |
$295,000.00 |
15% |
| Carlsbad |
$559,500.00 |
$530,000.00 |
6% |
| Chula Vista |
$320,000.00 |
$270,000.00 |
19% |
| El Cajon |
$308,636.00 |
$236,250.00 |
31% |
| Encinitas |
$605,000.00 |
$520,000.00 |
16% |
| Escondido |
$282,000.00 |
$220,500.00 |
28% |
| Fallbrook |
$371,000.00 |
$305,500.00 |
21% |
| Imperial Beach |
$237,000.00 |
$240,000.00 |
-1% |
| La Jolla |
$830,000.00 |
$835,000.00 |
-1% |
| La Mesa |
$321,750.00 |
$260,000.00 |
24% |
| Lakeside |
$270,000.00 |
$300,000.00 |
-10% |
| Lemon Grove |
$275,000.00 |
$180,000.00 |
53% |
| National City |
$208,000.00 |
$180,000.00 |
16% |
| Oceanside |
$312,000.00 |
$212,000.00 |
47% |
| Poway |
$457,500.00 |
$600,000.00 |
-24% |
| Ramona |
$306,000.00 |
$321,000.00 |
-5% |
| San Diego |
$340,000.00 |
$314,045.00 |
8% |
| San Marcos |
$350,000.00 |
$330,000.00 |
6% |
| San Ysidro |
$125,000.00 |
$170,000.00 |
-26% |
| Santee |
$330,000.00 |
$263,500.00 |
25% |
| Solana Beach |
$870,000.00 |
$1,400,000.00 |
-38% |
| Spring Valley |
$252,500.00 |
$155,000.00 |
63% |
| Vista |
$284,250.00 |
$265,000.00 |
7% |
| San Francisco County |
$655,000.00 |
$642,500.00 |
2% |
| San Francisco |
$655,000.00 |
$642,500.00 |
2% |
| San Joaquin County |
$172,000.00 |
$152,000.00 |
13% |
| Lodi |
$178,000.00 |
$155,000.00 |
15% |
| Manteca |
$187,000.00 |
$190,000.00 |
-2% |
| Stockton |
$135,000.00 |
$112,000.00 |
21% |
| Tracy |
$250,000.00 |
$238,500.00 |
5% |
| San Luis Obispo County |
$360,000.00 |
$369,000.00 |
-2% |
| Arroyo Grande |
$409,500.00 |
$374,000.00 |
9% |
| Atascadero |
$303,500.00 |
$325,000.00 |
-7% |
| Los Osos |
$350,000.00 |
$380,000.00 |
-8% |
| Nipomo |
$490,000.00 |
$415,000.00 |
18% |
| Paso Robles |
$287,500.00 |
$323,250.00 |
-11% |
| San Luis Obispo |
$450,500.00 |
$442,500.00 |
2% |
| Santa Barbara County |
$315,000.00 |
$257,500.00 |
22% |
| Goleta |
$579,000.00 |
$521,000.00 |
11% |
| Lompoc |
$210,000.00 |
$198,000.00 |
6% |
| Santa Barbara |
$900,000.00 |
$880,000.00 |
2% |
| Santa Maria |
$225,000.00 |
$229,000.00 |
-2% |
| Santa Clara County |
$525,000.00 |
$440,000.00 |
19% |
| Campbell |
$600,000.00 |
$691,000.00 |
-13% |
| Cupertino |
$889,000.00 |
$965,000.00 |
-8% |
| Gilroy |
$375,000.00 |
$382,000.00 |
-2% |
| Los Altos |
$1,500,000.00 |
$1,484,000.00 |
1% |
| Los Gatos |
$1,087,500.00 |
$769,500.00 |
41% |
| Milpitas |
$400,000.00 |
$413,000.00 |
-3% |
| Morgan Hill |
$440,000.00 |
$465,250.00 |
-5% |
| Mountain View |
$649,000.00 |
$645,000.00 |
1% |
| Palo Alto |
$1,293,500.00 |
$1,400,000.00 |
-8% |
| San Jose |
$455,000.00 |
$377,250.00 |
21% |
| Santa Clara |
$549,000.00 |
$500,000.00 |
10% |
| Saratoga |
$1,435,500.00 |
$1,200,000.00 |
20% |
| Sunnyvale |
$650,000.00 |
$585,000.00 |
11% |
| Santa Cruz County |
$478,500.00 |
$410,000.00 |
17% |
| Aptos |
$600,000.00 |
$577,500.00 |
4% |
| Santa Cruz |
$585,000.00 |
$563,750.00 |
4% |
| Watsonville |
$340,250.00 |
$239,000.00 |
42% |
| Shasta County |
$175,000.00 |
$181,000.00 |
-3% |
| Anderson |
$145,000.00 |
$145,000.00 |
0% |
| Redding |
$195,000.00 |
$195,000.00 |
0% |
| Solano County |
$215,000.00 |
$188,500.00 |
14% |
| Benicia |
$359,000.00 |
$300,000.00 |
20% |
| Dixon |
$239,000.00 |
$290,000.00 |
-18% |
| Fairfield |
$249,000.00 |
$205,000.00 |
21% |
| Rio Vista |
$209,500.00 |
$225,000.00 |
-7% |
| Suisun City |
$195,250.00 |
$175,000.00 |
12% |
| Vacaville |
$265,000.00 |
$227,000.00 |
17% |
| Vallejo |
$160,000.00 |
$132,000.00 |
21% |
| Sonoma County |
$335,000.00 |
$302,818.00 |
11% |
| Petaluma |
$369,000.00 |
$382,045.00 |
-3% |
| Rohnert Park |
$301,000.00 |
$275,000.00 |
9% |
| Santa Rosa |
$305,000.00 |
$275,000.00 |
11% |
| Sonoma |
$360,000.00 |
$417,500.00 |
-14% |
| Windsor |
$352,500.00 |
$344,000.00 |
2% |
| Stanislaus County |
$148,000.00 |
$135,000.00 |
10% |
| Ceres |
$137,000.00 |
$139,500.00 |
-2% |
| Modesto |
$133,750.00 |
$108,000.00 |
24% |
| Oakdale |
$205,000.00 |
$177,250.00 |
16% |
| Patterson |
$159,000.00 |
$140,000.00 |
14% |
| Riverbank |
$168,000.00 |
$167,250.00 |
0% |
| Salida |
$168,000.00 |
$150,000.00 |
12% |
| Turlock |
$166,000.00 |
$159,000.00 |
4% |
| Tulare County |
$150,000.00 |
$128,000.00 |
17% |
| Porterville |
$140,000.00 |
$125,500.00 |
12% |
| Tulare |
$145,000.00 |
$116,000.00 |
25% |
| Visalia |
$168,000.00 |
$144,000.00 |
17% |
| Ventura County |
$380,000.00 |
$355,000.00 |
7% |
| Camarillo |
$440,000.00 |
$405,000.00 |
9% |
| Fillmore |
$250,000.00 |
$264,000.00 |
-5% |
| Moorpark |
$401,500.00 |
$406,250.00 |
-1% |
| Newbury Park |
$487,750.00 |
$535,000.00 |
-9% |
| Oak Park |
$590,000.00 |
$489,000.00 |
21% |
| Ojai |
$425,000.00 |
$496,250.00 |
-14% |
| Oxnard |
$295,500.00 |
$284,500.00 |
4% |
| Port Hueneme |
$267,500.00 |
$220,000.00 |
22% |
| Santa Paula |
$258,000.00 |
$242,000.00 |
7% |
| Simi Valley |
$377,500.00 |
$380,000.00 |
-1% |
| Thousand Oaks |
$502,000.00 |
$512,500.00 |
-2% |
| Ventura |
$370,000.00 |
$365,000.00 |
1% |
| Westlake Village |
$620,000.00 |
$500,000.00 |
24% |
| Yolo County |
$267,000.00 |
$272,500.00 |
-2% |
| Davis |
$461,000.00 |
$460,000.00 |
0% |
| West Sacramento |
$235,000.00 |
$247,750.00 |
-5% |
| Woodland |
$230,000.00 |
$255,500.00 |
-10% |
Median home prices contained in this chart were generated from DataQuick Information Systems. The price statistics are derived from all types of home sales — new and existing, condos and single-family. Movements in sales prices should not be interpreted as changes in the cost of a standard home. Median prices can be influenced by changes in cost, as well as changes in the characteristics and size of homes sold. Due to the low sales volume in some cities or areas, median price changes may exhibit unusual fluctuation. C.A.R. and DataQuick routinely track 33 of the 58 counties in California. The following 26 counties are not included in this report: Alpine, Amador, Butte, Calaveras, Colusa, Del Norte, Glenn, Humboldt, Imperial, Inyo, Kings, Lake, Lassen, Mariposa, Mendocino, Modoc, Mono, Plumas, Sierra, Siskiyou, Sutter, Tehama, Trinity, Tuolumne, and Yuba.
N.A. = Not available. |
Article and data from www.car.org
Posted by Lily Lam on June 17, 2010 – 2:45 pm
Foreclosure filings – notices of default, scheduled auctions, and bank repossessions – declined 3 percent in May compared with April, but increased less than 1 percent compared with the same period a year ago, RealtyTrac reported. Properties receiving a notice of default declined 7 percent in May compared with April and 22 percent compared with May 2009. Foreclosure auctions decreased 4 percent in May compared with the prior month, while bank repossessions increased 1 percent during the same period, according to the report.
California accounted for more than 22 percent of the total number of properties receiving a foreclosure notice in May, an increase of 3 percent from April, but a decrease of nearly 22 percent compared with a year ago.
The top 10 cities with declining foreclosure activity on a year-over-year basis in May included: Las Vegas, nearly 18 percent; Merced, 7 percent; Modesto, nearly 28 percent; Cape Coral-Fort Myers, Fla., nearly 19 percent; Stockton, 33 percent; Riverside-San Bernardino-Ontario, 29 percent; Bakersfield, 19 percent; Reno-Sparks, Nev., 18 percent; and Phoenix, 9 percent.
Article from C.A.R. News
Posted by Lily Lam on June 7, 2010 – 2:26 pm
(Source: CNN Money) Financing a home after foreclosure is possible for most homeowners. Those who default on their mortgages due to economic hardships, such as job loss, may receive approval for another mortgage in as little as two years, while it may take more than seven years for strategic defaulters to be approved.
• Lenders utilize several methods in determining whether to grant mortgages, including the amount of money borrowers have saved; employment histories; and payment history.
• According to the chief economist with the Mortgage Bankers Association, lenders may be more willing to finance a mortgage for a borrower who defaulted on their mortgage as a result of factors beyond their control.
• Some homeowners who strategically default—intentionally not meet their mortgage obligations although they have the financial means to do so—assume they can raise their FICO scores by paying their others bills on time. However, most future loan underwriters will scrutinize their records very closely, and if they determine the borrower strategically defaulted on their previous mortgage, the repaired credit score will not overshadow the walkaway.
• Although not impossible for strategic defaulters to finance another home purchase, it likely will be more difficult. Lenders may ask for down payments of 30 percent or more to provide sufficient collateral to enable the bank to recoup most of its money in a foreclosure. These borrowers also may be charged higher interest rates, even above the levels other borrowers with similar credit scores would receive.
Article from: California Association of Realtors
Posted by Lily Lam on May 21, 2010 – 3:22 pm
The Senate on Thursday approved the most extensive overhaul of the banking system since the 1930s.
The legislation must still be reconciled with the House bill passed in December.
Measures in both bills that directly affect property transactions include:
- Limits on the ability of mortgage lenders to penalize borrowers who pay off loans early.
- Stated-income loans would be effectively eliminated.
- Lenders would be required to obtain proof from borrowers that they can pay for their mortgages. Buyers would be required to provide tax returns, payroll receipts, or bank documents.
- Lenders and brokers will be prohibited from pushing borrowers to accept loans with higher interest rates or with risky features.
Source: The New York Times, Gregg Hitt and Damian Paletta (05/20/2010)
Article from: Realtor Magazine
Posted by Lily Lam on May 20, 2010 – 1:31 pm
The California Franchise Tax Board (FTB) recently released an update on the California home buyers’ tax credit alerting borrowers to fax delays it is experiencing. Due to the high volume of faxes, borrowers may experience delays or difficulties in connecting to the fax number during the FTB’s normal business hours. It may take several minutes or possibly up to an hour to connect and transmit the faxed application. All applications for the California home buyers tax credit must be submitted via fax.
More Detail：http://www.ftb.ca.gov/individuals/new_home_credit.shtml
Source：C. A.R. Newsline