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July Home Sales Not So Golden in California
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You're Now Reading:
July Home Sales Not So Golden in California
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:
July Home Sales Not So Golden in California
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August 17, 2011 (Shirley Allen)

After a dismal spring of declining home sales, things started looking up for California in June when home sales jumped up 9.7 percent, but it all ended in one giant thud in July as sales of new and existing homes plummeted 11.0 percent according real estate information provider DataQuick.

An estimated total of 34,695 new and resale houses and condos were sold in the Golden State in July. That was down from 38,975 sales in June and down 1.4 percent from July 2010. Historically, California averages 46,577 home sales in the month of July.

The median price for a home in July decreased 1.6 percent to $252,000 from June’s median price of $253,000, and is down 6.0 percent from a median price of $268,000 in July of 2010. The statewide current cycle peak price was $484,000 in early 2007.

Distressed properties continued to dominate the California market as 51.9 percent of all re-sales in July were distressed sales with homes that had been foreclosed on in the previous twelve months making up 34.6 percent of the existing home sales in July.

That was down from 35.1 percent posted in the previous month of June and down from 35.2 posted in July of 2010.

Short sales decreased to 17.3 percent of re-sales last month compared to 17.6 percent in June and down from 18.6 percent in July of 2010.

The typical mortgage payment for home buyers in July remained virtually unchanged for the third consecutive month at $1027, which was also $57 less than the $1,084 payment observed in July 2010. July’s typical mortgage payment is 62.7 percent lower than it was during the current cycle’s peak in July 2006.

“Indicators of market distress continue to move in different directions. Foreclosure activity has declined sharply from its peaks in recent years, but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying has eased a bit in recent months but remains relatively high,” DataQuick reported.

Tags: DataQuick, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, 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
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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

August 17, 2011 (Shirley Allen)

After a dismal spring of declining home sales, things started looking up for California in June when home sales jumped up 9.7 percent, but it all ended in one giant thud in July as sales of new and existing homes plummeted 11.0 percent according real estate information provider DataQuick.

An estimated total of 34,695 new and resale houses and condos were sold in the Golden State in July. That was down from 38,975 sales in June and down 1.4 percent from July 2010. Historically, California averages 46,577 home sales in the month of July.

The median price for a home in July decreased 1.6 percent to $252,000 from June’s median price of $253,000, and is down 6.0 percent from a median price of $268,000 in July of 2010. The statewide current cycle peak price was $484,000 in early 2007.

Distressed properties continued to dominate the California market as 51.9 percent of all re-sales in July were distressed sales with homes that had been foreclosed on in the previous twelve months making up 34.6 percent of the existing home sales in July.

That was down from 35.1 percent posted in the previous month of June and down from 35.2 posted in July of 2010.

Short sales decreased to 17.3 percent of re-sales last month compared to 17.6 percent in June and down from 18.6 percent in July of 2010.

The typical mortgage payment for home buyers in July remained virtually unchanged for the third consecutive month at $1027, which was also $57 less than the $1,084 payment observed in July 2010. July’s typical mortgage payment is 62.7 percent lower than it was during the current cycle’s peak in July 2006.

“Indicators of market distress continue to move in different directions. Foreclosure activity has declined sharply from its peaks in recent years, but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying has eased a bit in recent months but remains relatively high,” DataQuick reported.

Tags: DataQuick, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, 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.

August 17, 2011 (Shirley Allen)

After a dismal spring of declining home sales, things started looking up for California in June when home sales jumped up 9.7 percent, but it all ended in one giant thud in July as sales of new and existing homes plummeted 11.0 percent according real estate information provider DataQuick.

An estimated total of 34,695 new and resale houses and condos were sold in the Golden State in July. That was down from 38,975 sales in June and down 1.4 percent from July 2010. Historically, California averages 46,577 home sales in the month of July.

The median price for a home in July decreased 1.6 percent to $252,000 from June’s median price of $253,000, and is down 6.0 percent from a median price of $268,000 in July of 2010. The statewide current cycle peak price was $484,000 in early 2007.

Distressed properties continued to dominate the California market as 51.9 percent of all re-sales in July were distressed sales with homes that had been foreclosed on in the previous twelve months making up 34.6 percent of the existing home sales in July.

That was down from 35.1 percent posted in the previous month of June and down from 35.2 posted in July of 2010.

Short sales decreased to 17.3 percent of re-sales last month compared to 17.6 percent in June and down from 18.6 percent in July of 2010.

The typical mortgage payment for home buyers in July remained virtually unchanged for the third consecutive month at $1027, which was also $57 less than the $1,084 payment observed in July 2010. July’s typical mortgage payment is 62.7 percent lower than it was during the current cycle’s peak in July 2006.

“Indicators of market distress continue to move in different directions. Foreclosure activity has declined sharply from its peaks in recent years, but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying has eased a bit in recent months but remains relatively high,” DataQuick reported.

Tags: DataQuick, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, 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.