Five Canyons Homes- Market Conditions
Posted by: admin / Category: Palomares Hills, five canyons, five canyons homesAs per the Bay East Association of Realtors, Days on Market (DOM) for the Castro Valley area year-to-date is around 71. The median attached home price in Castro Valley for February was $507,500. As of the last day of February there were 95 active homes in Castro Valley. At current selling rates this means there is approximately 2 months of inventory in Castro Valley remaining.
As of March 17, 2010 there were 4 homes in Palomares Hills listed in a price range of $595,000-$775,950. There are no homes currently on the market in Five Canyons.
98 SFR homes and 20 Condos / townhouses for sale in Castro Valley California. The price range for SFR is $214,000-$3,000,000 and for condos/ townhouse is $161,000-$649,000.
| Castro Valley Statistics | Active | Pending | Sold | Months Supply |
| Feb 09 | 151 | 30 | 25 | 5.2 |
| Mar 09 | 137 | 50 | 25 | 3.9 |
| Apr 09 | 125 | 46 | 31 | 3.0 |
| May 09 | 111 | 48 | 34 | 2.6 |
| Jun 09 | 102 | 53 | 29 | 2.1 |
| Jul 09 | 108 | 49 | 45 | 2.2 |
| Aug 09 | 100 | 52 | 44 | 2.0 |
| Sep 09 | 107 | 48 | 38 | 2.1 |
| Oct 09 | 103 | 47 | 30 | 2.1 |
| Nov 09 | 78 | 51 | 26 | .16 |
| Dec 09 | 75 | 41 | 42 | 1.6 |
| Jan 10 | 77 | 35 | 23 | 1.8 |
| Feb 10 | 95 | 41 | 26 | 2.3 |
Here is an article I read in the Wall Street Journal
The Wall Street Journal
Nabbing a bargain-basement mortgage before rates rise
The Federal Reserve has been purchasing mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac since early last year. The purchase program has helped maintain low interest rates for borrowers. As planned, the Fed this week announced it will stop purchasing these securities at the end of this month. Many analysts anticipate this will result in a slight rise in rates by year’s end.
MAKING SENSE OF THE STORY FOR CONSUMERS
- Interest rates have hovered at or near historic lows for much of the past 18 months, resulting in lower payments for many borrowers. With the Fed discontinuing its purchase program, some analysts believe a rise in interest rates could range from 0.25 percent to as much as 1 percent by the end of 2010.
- The federal tax credit for home buyers also is scheduled to end April 30. The tax credit combined with the expectation interest rates will increase has created a sense of urgency for many home buyers. In fact, 23 percent of California home buyers purchased a home in 2009 due to the perception that interest rates will rise and they would be priced out of the market, according to C.A.R.’s 2009 Survey of California Home Buyers.
- Rising interest rates will have an effect on home buyers. For example, a qualified couple with a combined pretax income of $100,000 per year and debt obligations (excluding mortgage) of $500 who receive a mortgage rate of 5 percent could qualify for a loan of up to $590,000, assuming a 20 percent down payment. If the interest rate were to rise to 6 percent, as analysts at Barclays Capital predict, the same couple could only qualify for a mortgage of $540,000.
I specialize in Five Canyons and Palomares Hills. If you are looking for a list of Castro Valley Homes for sale, or sell your home in Castro Valley for a flat fee or full service and save thousands of dollars, please call Meena Gujral at 510-279-9580 or go to my website:
http://www.helpusellachievers.com
Homes sold by Meena in Castro Valley, California
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Tags: castro valley homes, castro valley homes for sale, five canyons, five canyons homes, Palomares Hills
