Reasons to sell your home now!
05 Dec 2009
Good News for sellers:
More homes are selling and they are moving more quickly than a year ago. Existing, single-family home sales increased 1 percent in October to a seasonally adjusted rate of 562,400 units on an annualized basis.
The statewide median price of an existing single-family home increased 0.3 percent in October to $297,500, compared with September 2009.
C.A.R.’s Unsold Inventory Index fell to 4 months in October, compared with 6.1 months in October 2008.
“Home sales historically trail off during the fall and winter months as we move to the off-peak season for the housing market,” said C.A.R. President Steve Goddard. “However, with affordable home prices, mortgage rates hovering around 5 percent, and the extension and expansion of the federal tax credit, we expect first-time and move-up home buyers to drive home sales through the end of this year and into early 2010.” For the first-time since July 2007, sales of homes priced $1 million or more rose in year-to-year comparisons.
“California’s median price rose for the eighth consecutive month in October and sales continued to show strength, signs that California has hit and passed the bottom of this real estate cycle,” said C.A.R. Vice President and Chief Economist Leslie-Appleton-Young. “The number of distressed sales as a share of total sales has shown considerable improvement since the beginning of the year, as a result of loan modifications and other efforts to prevent troubled mortgages from going into foreclosure. This has led to a decline in inventory levels since the start of the year that is more consistent with the price gains we have seen in recent months.”
If these are not enough reasons for a seller to seriously consider selling a house NOW, I wonder what is. Please call Meena Gujral (California Realtor) at 510-279-9580 if you are looking to buy or sell a home in Fremont, Castro Valley, Pleasanton, Dublin, or anywhere in the Alameda County or go to my website here: Fremont Homes For Sale
To see my other Real Estate Blogs click:
Meena’s Mission San Jose Fremont Bl
To see all the homes I have listed and sold in Castro Valley and Fremont, go to:
Homes sold by Meena in Castro Valley, California
Homes Sold by Meena in Fremont
