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Distressed Properties Make Up 54% of California Sales
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You're Now Reading:
Distressed Properties Make Up 54% of California Sales
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Distressed Properties Make Up 54% of California Sales
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May 17, 2011 (Jeff Alan)

Distressed property sales made up 54 percent of California’s resale market in April 2011 according to DataQuick, while sales of new and resale homes and condos was down 3.3 percent compared to March, and 6.1 percent below sales in April, 2010.

An estimated 35,102 homes were sold in April compared to 36,417 in March. Home sales in April of last year numbered 37,481. According to statistics collected since 1988, the average number of homes sold in April is 44,359. The most homes sold in April were 71,638 in 2004 and the least amount sold in April were 27,625 in 1995.

The median price for a home in April remained unchanged from March at $249,000, and is down 2.4 percent from the median price of $255,000 in April of 2010. This was the seventh consecutive month of year-over-year price decreases.

Sales of foreclosures continued to drop while short sales increased slightly from the month before. The percentage of existing homes sales that had been foreclosed on in the past year dropped to 36.5 percent in April, down from 39.1 percent the month before and down from 38.1 percent a year earlier.

Short sales meanwhile, increased to an estimated 17.6 percent of resale’s last month, an increase from 17.2 in March and slightly lower than 17.7 percent from April 2010.

With falling prices and historically low mortgage interest rates, the typical monthly payment that buyers committed themselves to paying was $1050, which was the same as in March, but down from $1108 in April 2010. The typical mortgage payment is 61.7 percent below what the current cycle’s peak was in June 2006.

San Diego-based DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

Tags: DataQuick, distressed properties, home sales, median home price, forclosures, short sales, falling prices, low mortgage rates, typical mortgage payment

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
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Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

May 17, 2011 (Jeff Alan)

Distressed property sales made up 54 percent of California’s resale market in April 2011 according to DataQuick, while sales of new and resale homes and condos was down 3.3 percent compared to March, and 6.1 percent below sales in April, 2010.

An estimated 35,102 homes were sold in April compared to 36,417 in March. Home sales in April of last year numbered 37,481. According to statistics collected since 1988, the average number of homes sold in April is 44,359. The most homes sold in April were 71,638 in 2004 and the least amount sold in April were 27,625 in 1995.

The median price for a home in April remained unchanged from March at $249,000, and is down 2.4 percent from the median price of $255,000 in April of 2010. This was the seventh consecutive month of year-over-year price decreases.

Sales of foreclosures continued to drop while short sales increased slightly from the month before. The percentage of existing homes sales that had been foreclosed on in the past year dropped to 36.5 percent in April, down from 39.1 percent the month before and down from 38.1 percent a year earlier.

Short sales meanwhile, increased to an estimated 17.6 percent of resale’s last month, an increase from 17.2 in March and slightly lower than 17.7 percent from April 2010.

With falling prices and historically low mortgage interest rates, the typical monthly payment that buyers committed themselves to paying was $1050, which was the same as in March, but down from $1108 in April 2010. The typical mortgage payment is 61.7 percent below what the current cycle’s peak was in June 2006.

San Diego-based DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

Tags: DataQuick, distressed properties, home sales, median home price, forclosures, short sales, falling prices, low mortgage rates, typical mortgage payment

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

May 17, 2011 (Jeff Alan)

Distressed property sales made up 54 percent of California’s resale market in April 2011 according to DataQuick, while sales of new and resale homes and condos was down 3.3 percent compared to March, and 6.1 percent below sales in April, 2010.

An estimated 35,102 homes were sold in April compared to 36,417 in March. Home sales in April of last year numbered 37,481. According to statistics collected since 1988, the average number of homes sold in April is 44,359. The most homes sold in April were 71,638 in 2004 and the least amount sold in April were 27,625 in 1995.

The median price for a home in April remained unchanged from March at $249,000, and is down 2.4 percent from the median price of $255,000 in April of 2010. This was the seventh consecutive month of year-over-year price decreases.

Sales of foreclosures continued to drop while short sales increased slightly from the month before. The percentage of existing homes sales that had been foreclosed on in the past year dropped to 36.5 percent in April, down from 39.1 percent the month before and down from 38.1 percent a year earlier.

Short sales meanwhile, increased to an estimated 17.6 percent of resale’s last month, an increase from 17.2 in March and slightly lower than 17.7 percent from April 2010.

With falling prices and historically low mortgage interest rates, the typical monthly payment that buyers committed themselves to paying was $1050, which was the same as in March, but down from $1108 in April 2010. The typical mortgage payment is 61.7 percent below what the current cycle’s peak was in June 2006.

San Diego-based DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

Tags: DataQuick, distressed properties, home sales, median home price, forclosures, short sales, falling prices, low mortgage rates, typical mortgage payment

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.