Author Archives: Lily Lam

Entry-level housing affordability at 64 percent in Q2 2010

0
Posted by Lily Lam on August 31, 2010 – 2:00 pm
Filed under Uncategorized

C.A.R. reports entry-level housing affordability at 64 percent in the second quarter of 2010
• C.A.R. First-time Buyer Housing Affordability Index stood at 64 percent in the second quarter of 2010 compared with 67 percent in the second quarter of 2009
• The median price of an entry-level home in California was $266,750 in the second quarter of 2010
• The estimated monthly payment including taxes and insurance was $1,470 in the second quarter of 2010
• The minimum household income needed to purchase an entry-level home in California in the second quarter of 2010 was $43,960.

Source: www.car.org

California July 2010 Median Prices

0
Posted by Lily Lam on August 27, 2010 – 2:32 pm
Filed under Real Estate News Flash

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 and San Mateo
County/City/Area July 2010 July 2009 Y-T-Y %
Change
ContraCosta County $290,500 $260,000 11.7%
Antioch $205,000 $196,000 4.6%
Brentwood2 $315,000 $310,000 1.6%
Concord $290,000 $245,000 18.4%
Danville $830,000 $833,500 -0.4%
Discovery Bay $292,500 $271,000 7.9%
Hercules $314,500 $314,500 0.0%
Martinez $295,000 $328,000 -10.1%
Oakley $228,000 $228,750 -0.3%
Pittsburg $180,000 $149,000 20.8%
Richmond $135,000 $129,000 4.7%
San Pablo $160,000 $148,000 8.1%
San Ramon $657,750 $630,000 4.4%
Walnut Creek $480,000 $485,000 -1.0%
El Dorado County $317,500 $330,000 -3.8%
El Dorado Hills $430,000 $450,250 -4.5%
Placerville $215,000 $187,500 14.7%
Shingle Springs $300,000 $260,000 15.4%
South Lake Tahoe $286,000 $315,000 -9.2%
Fresno County $160,000 $165,000 -3.0%
Clovis $227,000 $242,000 -6.2%
Fresno $146,500 $152,000 -3.6%
Reedley $157,500 $167,000 -5.7%
Selma $135,000 $152,500 -11.5%
Kern County $135,000 $133,750 0.9%
Bakersfield $140,250 $135,000 3.9%
California City $62,000 $60,000 3.3%
Delano $115,000 $124,000 -7.3%
Rosamond $102,000 $112,000 -8.9%
Tehachapi $182,500 $185,000 -1.4%
Wasco $115,500 $95,000 21.6%
Los Angeles County $340,000 $325,000 4.6%
Agoura Hills $575,000 $617,500 -6.9%
Alhambra $417,500 $402,000 3.9%
Altadena $465,000 $440,250 5.6%
Arcadia $713,500 $663,000 7.6%
Azusa $275,000 $257,000 7.0%
Baldwin Park $232,500 $230,000 1.1%
Bellflower $290,000 $295,000 -1.7%
Beverly Hills $1,677,500 $1,575,000 6.5%
Brentwood $1,450,000 $1,565,000 -7.3%
Burbank $450,000 $445,000 1.1%
Calabasas $875,000 $1,200,000 -27.1%
Canoga Park $410,000 $302,000 35.8%
Canyon Country $300,000 $289,000 3.8%
Carson $302,500 $290,000 4.3%
Castaic $387,500 $377,500 2.6%
Cerritos $540,000 $505,000 6.9%
Chatsworth $372,250 $452,000 -17.6%
Claremont $480,000 $465,000 3.2%
Compton $175,000 $139,000 25.9%
Covina $340,000 $310,000 9.7%
Culver City $540,000 $472,500 14.3%
Diamond Bar $449,500 $453,500 -0.9%
Downey $391,500 $379,000 3.3%
Duarte $309,500 $283,500 9.2%
El Monte $300,500 $275,000 9.3%
Encino $360,000 $530,000 -32.1%
Gardena $297,500 $285,000 4.4%
Glendale $550,000 $440,000 25.0%
Glendora $350,000 $405,000 -13.6%
Granada Hills $376,500 $401,000 -6.1%
Hacienda Heights $430,000 $322,500 33.3%
Hawthorne $340,000 $327,500 3.8%
Huntington Park $210,000 $195,000 7.7%
Inglewood $209,000 $250,000 -16.4%
La Crescenta $625,000 $533,000 17.3%
La Mirada $367,500 $372,500 -1.3%
La Puente $279,000 $222,000 25.7%
La Verne $419,000 $440,250 -4.8%
Lakewood $375,000 $390,000 -3.8%
Lancaster $122,000 $114,000 7.0%
Long Beach $300,000 $320,000 -6.3%
Los Angeles $320,000 $316,000 1.3%
Lynwood $237,000 $210,000 12.9%
Manhattan Beach $1,490,000 $1,340,000 11.2%
Mission Hills $313,000 $302,000 3.6%
Monrovia $435,000 $465,000 -6.5%
Montebello $302,500 $322,500 -6.2%
Monterey Park $497,000 $405,000 22.7%
Newhall $255,000 $325,000 -21.5%
North Hills $340,000 $300,000 13.3%
North Hollywood $331,000 $313,500 5.6%
Northridge $463,500 $465,000 -0.3%
Norwalk $290,000 $260,000 11.5%
Pacific Palisades $1,475,000 $1,450,000 1.7%
Pacoima $237,000 $218,000 8.7%
Palmdale $156,000 $137,250 13.7%
Panorama City $215,250 $207,500 3.7%
Paramount $180,000 $190,000 -5.3%
Pasadena $498,500 $510,000 -2.3%
Pico Rivera $300,000 $285,000 5.3%
Pomona $200,000 $175,000 14.3%
Rancho Palos Verdes $920,000 $945,000 -2.6%
Redondo Beach $685,000 $650,000 5.4%
Reseda $295,000 $260,000 13.5%
Rowland Heights $410,000 $375,000 9.3%
San Dimas $380,000 $410,000 -7.3%
San Fernando $242,000 $225,000 7.6%
San Gabriel $506,500 $478,000 6.0%
San Pedro $347,500 $370,000 -6.1%
Santa Clarita $353,000 $400,000 -11.8%
Santa Monica $920,000 $852,500 7.9%
Sherman Oaks $618,000 $615,000 0.5%
South Gate $250,000 $230,000 8.7%
South Pasadena $622,000 $625,500 -0.6%
Studio City $641,250 $825,000 -22.3%
Sun Valley $290,000 $247,000 17.4%
Sylmar $275,000 $245,000 12.2%
Tarzana $470,000 $400,000 17.5%
Temple City $562,500 $545,000 3.2%
Torrance $480,000 $475,000 1.1%
Tujunga $375,000 $365,000 2.7%
Valencia $385,000 $407,500 -5.5%
Valley Village $515,000 $495,000 4.0%
Van Nuys $326,250 $302,500 7.9%
Walnut $650,000 $567,000 14.6%
West Covina $350,000 $350,000 0.0%
Whittier $332,500 $305,000 9.0%
Wilmington $262,500 $229,000 14.6%
Winnetka $327,500 $343,500 -4.7%
Woodland Hills $470,000 $455,000 3.3%
Los Angeles Selected Areas
Westside $1,325,000 $1,000,000 32.5%
West La $690,000 $635,000 8.7%
Downtown La/Central City $525,000 $505,000 4.0%
South La $201,250 $180,000 11.8%
North East La $265,000 $260,000 1.9%
San Fernando Valley Selected Areas
San Fernando Valley $345,000 $333,500 3.4%
West San Fernando Valley $380,000 $375,000 1.3%
Northeast San Fernando Valley $298,750 $269,500 10.9%
Southeast San Fernando Valley $400,000 $385,000 3.9%
Southwest Los Angeles Selected Areas
Beach Cities $940,000 $850,000 10.6%
South Bay $567,750 $530,909 6.9%
Long Beach (90810) $250,000 $212,500 17.6%
Palos Verdes Estates $1,200,000 $1,300,000 -7.7%
PalosVerdesPeninsula Area $1,055,000 $986,000 7.0%
Westchester $633,000 $697,000 -9.2%
Marin County $715,000 $650,000 10.0%
Mill Valley $972,500 $837,500 16.1%
Novato $511,000 $465,000 9.9%
San Rafael $556,873 $531,000 4.9%
Monterey County $245,000 $211,886 15.6%
Salinas $215,000 $187,500 14.7%
Seaside $249,000 $270,000 -7.8%
Soledad $160,000 $170,000 -5.9%
Napa County $364,500 $338,000 7.8%
Napa $340,000 $345,000 -1.4%
Nevada County $290,000 $320,000 -9.4%
Grass Valley $253,500 $276,000 -8.2%
Nevada City $325,000 $336,500 -3.4%
Truckee $425,000 $392,500 8.3%
Orange County $449,000 $420,000 6.9%
Aliso Viejo $365,000 $355,000 2.8%
Anaheim $365,000 $340,000 7.4%
Brea $500,000 $493,500 1.3%
Buena Park $353,500 $350,000 1.0%
Costa Mesa $505,000 $515,000 -1.9%
Cypress $467,500 $405,000 15.4%
Dana Point $615,000 $612,000 0.5%
Fountain Valley $525,000 $555,000 -5.4%
Fullerton $412,500 $390,000 5.8%
Garden Grove $350,500 $357,000 -1.8%
Huntington Beach $520,250 $566,750 -8.2%
Irvine $580,000 $544,000 6.6%
La Habra $270,000 $282,500 -4.4%
Ladera Ranch $430,000 $592,500 -27.4%
Laguna Hills $452,500 $520,000 -13.0%
Laguna Niguel $496,000 $525,000 -5.5%
Lake Forest $435,000 $350,000 24.3%
Mission Viejo $475,000 $445,000 6.7%
Newport Beach $1,187,000 $1,280,000 -7.3%
Orange $471,250 $429,750 9.7%
Placentia $465,500 $440,000 5.8%
Rancho Santa Margarita $372,750 $382,500 -2.5%
San Clemente $650,000 $681,000 -4.6%
San Juan Capistrano $337,500 $324,250 4.1%
Santa Ana $298,500 $244,500 22.1%
Stanton $299,000 $247,500 20.8%
Trabuco Canyon $640,000 $636,000 0.6%
Tustin $490,000 $430,000 14.0%
Westminster $420,000 $420,000 0.0%
Yorba Linda $617,500 $620,000 -0.4%
Placer County $285,000 $295,750 -3.6%
Auburn $296,000 $315,000 -6.0%
Granite Bay $477,500 $543,250 -12.1%
Lincoln $265,000 $276,000 -4.0%
Rocklin $268,000 $290,000 -7.6%
Roseville $281,250 $284,000 -1.0%
Riverside County $200,000 $184,000 8.7%
Banning $105,000 $70,000 50.0%
Beaumont $205,000 $213,500 -4.0%
Cathedral City $162,500 $142,000 14.4%
Corona $335,500 $312,000 7.5%
Desert Hot Springs $103,000 $91,000 13.2%
Hemet $119,000 $118,250 0.6%
Indio $169,000 $178,000 -5.1%
La Quinta $302,500 $334,000 -9.4%
Lake Elsinore $189,000 $177,500 6.5%
Menifee $205,000 $206,000 -0.5%
Mira Loma $328,750 $230,000 42.9%
Moreno Valley $155,000 $140,000 10.7%
Murrieta $240,000 $231,500 3.7%
Norco $346,000 $321,000 7.8%
Palm Desert $248,500 $277,000 -10.3%
Palm Springs $238,000 $216,000 10.2%
Perris $160,000 $142,500 12.3%
Rancho Mirage $383,500 $445,000 -13.8%
Riverside $194,000 $174,000 11.5%
San Jacinto $144,000 $135,000 6.7%
Sun City $172,000 $151,250 13.7%
Temecula $285,000 $259,090 10.0%
Wildomar $230,000 $245,000 -6.1%
Winchester $250,000 $235,000 6.4%
Sacramento County $175,000 $180,000 -2.8%
Antelope $198,000 $195,000 1.5%
Carmichael $241,500 $227,500 6.2%
Citrus Heights $151,000 $167,750 -10.0%
Elk Grove $230,000 $234,250 -1.8%
Fair Oaks $249,000 $230,000 8.3%
Folsom $338,500 $360,000 -6.0%
Galt $185,500 $150,000 23.7%
North Highlands $96,000 $98,500 -2.5%
Orangevale $186,000 $218,000 -14.7%
Rancho Cordova $230,000 $236,000 -2.5%
Sacramento $145,000 $140,000 3.6%
San Benito County $254,000 $230,000 10.4%
San Bernardino County $155,000 $140,000 10.7%
Adelanto $93,000 $85,000 9.4%
Apple Valley $105,000 $101,000 4.0%
Barstow $62,000 $69,000 -10.1%
Big Bear City $122,000 $187,500 -34.9%
Big Bear Lake $216,000 $344,000 -37.2%
Bloomington $143,500 $117,500 22.1%
Chino $315,000 $298,000 5.7%
Chino Hills $421,250 $385,000 9.4%
Colton $130,000 $100,000 30.0%
Crestline $103,500 $99,500 4.0%
Fontana $202,000 $180,000 12.2%
Hesperia $127,000 $110,000 15.5%
Highland $179,000 $150,000 19.3%
Lake Arrowhead $295,000 $349,000 -15.5%
Loma Linda $220,000 $245,000 -10.2%
Montclair $230,000 $188,250 22.2%
Ontario $202,500 $180,000 12.5%
Rancho Cucamonga $311,500 $292,000 6.7%
Redlands $224,750 $215,000 4.5%
Rialto $151,000 $130,000 16.2%
San Bernardino $102,000 $70,000 45.7%
Twentynine Palms $75,000 $113,000 -33.6%
Upland $357,500 $350,000 2.1%
Victorville $120,000 $112,500 6.7%
Yucaipa $176,000 $220,000 -20.0%
Yucca Valley $83,000 $110,000 -24.5%
San Diego County $335,000 $318,000 5.3%
Carlsbad $589,000 $558,250 5.5%
Chula Vista $320,000 $287,500 11.3%
El Cajon $282,000 $240,000 17.5%
Encinitas $750,000 $575,000 30.4%
Escondido $300,000 $260,000 15.4%
Fallbrook $344,000 $335,000 2.7%
La Jolla $827,000 $925,000 -10.6%
La Mesa $337,250 $282,500 19.4%
Lakeside $237,000 $270,250 -12.3%
Lemon Grove $245,000 $205,000 19.5%
National City $202,500 $170,000 19.1%
Oceanside $300,000 $275,500 8.9%
Poway $635,000 $468,750 35.5%
Ramona $290,000 $304,500 -4.8%
San Diego $350,000 $328,000 6.7%
San Marcos $314,500 $406,000 -22.5%
San Ysidro $110,000 $107,000 2.8%
Santee $301,000 $322,500 -6.7%
Spring Valley $262,000 $198,500 32.0%
Vista $305,000 $286,000 6.6%
San Francisco County $675,000 $640,000 5.5%
San Francisco $675,000 $640,000 5.5%
San Joaquin County $170,000 $165,000 3.0%
Lodi $173,750 $180,000 -3.5%
Manteca $185,000 $193,000 -4.1%
Ripon $202,000 $289,000 -30.1%
Stockton $132,000 $120,000 10.0%
Tracy $255,000 $239,500 6.5%
San Luis Obispo County $375,000 $385,000 -2.6%
Arroyo Grande $511,500 $505,000 1.3%
Atascadero $324,000 $334,000 -3.0%
Nipomo $430,000 $443,750 -3.1%
Paso Robles $293,500 $325,000 -9.7%
San Luis Obispo $519,000 $430,000 20.7%
Santa Barbara County $337,500 $310,000 8.9%
Lompoc $186,000 $194,000 -4.1%
Santa Barbara $807,000 $850,000 -5.1%
Santa Maria $249,000 $225,000 10.7%
Santa Clara County $535,000 $490,000 9.2%
Campbell $650,000 $525,000 23.8%
Cupertino $885,000 $946,000 -6.4%
Gilroy $404,500 $350,000 15.6%
Los Altos $1,560,000 $1,425,500 9.4%
Los Gatos $1,147,500 $1,085,000 5.8%
Milpitas $420,000 $410,000 2.4%
Morgan Hill $572,750 $490,000 16.9%
Mountain View $660,000 $687,500 -4.0%
Palo Alto $1,317,500 $1,363,000 -3.3%
San Jose $445,500 $430,000 3.6%
Santa Clara $510,000 $525,000 -2.9%
Saratoga $1,490,000 $1,350,000 10.4%
Sunnyvale $735,500 $633,500 16.1%
Santa Cruz County $441,750 $457,000 -3.3%
Aptos $499,500 $617,500 -19.1%
Santa Cruz $566,000 $550,000 2.9%
Watsonville $270,000 $250,000 8.0%
Shasta County $169,500 $190,000 -10.8%
Redding $185,000 $196,750 -6.0%
Solano County $202,500 $199,000 1.8%
Benicia $315,000 $355,000 -11.3%
Dixon $235,000 $254,500 -7.7%
Fairfield $240,000 $206,000 16.5%
Rio Vista $204,500 $230,250 -11.2%
Suisun City $192,500 $175,000 10.0%
Vacaville $226,000 $237,500 -4.8%
Vallejo $153,500 $141,000 8.9%
Sonoma County $330,000 $325,000 1.5%
Petaluma $419,500 $389,000 7.8%
Rohnert Park $250,000 $270,000 -7.4%
Santa Rosa $325,000 $300,000 8.3%
Sonoma $385,000 $460,000 -16.3%
Windsor $355,000 $345,000 2.9%
Stanislaus County $140,000 $140,000 0.0%
Ceres $143,500 $150,000 -4.3%
Modesto $124,500 $115,000 8.3%
Oakdale $170,000 $185,159 -8.2%
Patterson $172,000 $150,000 14.7%
Riverbank $148,500 $151,500 -2.0%
Salida $160,000 $164,000 -2.4%
Turlock $158,500 $159,500 -0.6%
Tulare County $139,000 $145,000 -4.1%
Porterville $130,000 $145,000 -10.3%
Tulare $143,500 $113,000 27.0%
Visalia $150,000 $162,000 -7.4%
Ventura County $370,000 $375,500 -1.5%
Camarillo $391,000 $425,000 -8.0%
Moorpark $450,000 $485,000 -7.2%
Newbury Park $577,500 $617,500 -6.5%
Oxnard $280,000 $288,000 -2.8%
Port Hueneme $235,000 $239,500 -1.9%
Simi Valley $377,500 $370,000 2.0%
Thousand Oaks $460,000 $543,000 -15.3%
Ventura $391,500 $360,000 8.7%
Westlake Village $677,750 $680,000 -0.3%
Yolo County $247,300 $280,000 -11.7%
West Sacramento $217,500 $251,500 -13.5%
Woodland $225,000 $250,000 -10.0%

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.

Copyright ® 2010 CALIFORNIA ASSOCIATION OF REALTORS®

How To Set The Sales Price For Your Property ? (I)

0
Posted by Lily Lam on August 12, 2010 – 3:20 pm
Filed under Uncategorized

When setting a price for your property, the listing

level must strike a balance between the seller’s need

to achieve the best-possible return and the buyer’s

need to get good value. With many years of

experience, a professional Real Estate Agent can help

you set a price that will accomplish both objectives.

Establishing market value

The market value of your property is determined in exactly the same way as any other commodity – what

a buyer is willing to pay for it in today’s market. Despite the price you paid originally, or the value of

any improvements you may have made, the value is determined by market forces.

Look at the competition

Buyers look at about a dozen properties on average before making an offer on a property. As a result, they

have a good overview of the market and will compare your property against the competition. If it’s not in

line with similar properties that are available, buyers won’t consider it good value for money.

Article from   www.mrmls.com

Aug. 15: Last day to apply for state first-time buyer tax credit

0
Posted by Lily Lam on August 9, 2010 – 2:22 pm
Filed under Real Estate News Flash

The Franchise Tax Board (FTB) recently announced it will accept applications for the California first-time home buyer tax credit through midnight on Sunday, Aug. 15, 2010.  The FTB believes it will have received more than enough applications to cover the $100 million allocated for eligible first-time home buyers.  It will continue to accept applications for the new-home portion of the state tax credit.

Due to the high volume of faxes the FTB is receiving, consumers may experience some delays and difficulties in connecting to the fax number during normal business hours.  It can take several minutes or possibly up to an hour to connect and transmit the fax.  Buyers who receive a busy signal are advised to try again later. The fax number is open 24 hours a day, so consumers may fax applications during non-business hours when the line is not as busy.

For more information about the California state tax credits for first-time buyers and buyers of new homes, including eligibility requirements, please visit http://www.ftb.ca.gov/individuals/new_home_credit.shtml.

Article from www.car.org

Foreclosure sales account for 31 percent of Q1 sales

1
Posted by Lily Lam on July 22, 2010 – 12:01 pm
Filed under Real Estate News Flash

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

President signs bill to extend tax credit deadline

0
Posted by Lily Lam on July 6, 2010 – 11:51 am
Filed under Real Estate News Flash

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

Congress Extends Homebuyer Tax Credit

0
Posted by Lily Lam on July 1, 2010 – 2:27 pm
Filed under Real Estate News Flash

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.

May 2010 California Median Prices

0
Posted by Lily Lam on June 24, 2010 – 12:11 pm
Filed under Real Estate News Flash

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

Foreclosure activity continues to decline in May

1
Posted by Lily Lam on June 17, 2010 – 2:45 pm
Filed under Real Estate News Flash

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

Tips for Pricing Your Home

0
Posted by Lily Lam on June 15, 2010 – 2:57 pm
Filed under For Sellers
  • Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?
  • Consider competition. How many other houses are for sale in your area? Are you competing against new homes?
  • Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months?
  • Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute or ask your REALTOR® for some recommendations.
  • Ask a lender. Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value.
  • Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.
  • Know what you’ll take. It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.
Source: Realtor Magazine