Real Estate Information

La Quinta Real Estate Blog

Kathleen O'Keefe


Displaying blog entries 11-20 of 22

Short Sale Sellers are BACK!!!! Exccellent!

by Kathleen O'Keefe


 ‘Boomerang’ Buyers Set to Surge Back Into Housing Market
Normandy Shores open house for sale, Miami Beach, Florida, 2014
The Miami area is one that could see an influx of 'boomerang' buyers—those who lost a home to foreclosure but are ready to get back in the market.Jeff Greenberg—Alamy

More than 7 million homeowners who suffered a foreclosure or short sale during the housing crisis are poised to become buyers again.

Over the next eight years, nearly 7.3 million Americans who lost their homes in the housing crash will become creditworthy enough to buy again, according to a new analysis.

RealtyTrac, a real estate information company and online marketplace for foreclosed properties, estimates that these “boomerang buyers”—those who suffered a foreclosure or short sale between 2007 and 2014—are rapidly approaching, or already past, the seven-year window “conservatively” needed to repair their credit.

This year, the firm expects, more than 550,000 of these buyers could be in a position to get back into the market. The number of newly creditworthy individuals will then top 1 million between 2016 and 2019 and gradually decline to about 455,000 in 2022.

Screenshot 2015-01-27 10.30.07

RealtyTrac notes that the return of these former homeowners could have a strong effect on housing markets with a particular appeal to the boomerang demographic: areas with “a high percentage of housing units lost to foreclosure but where current home prices are still affordable for median income earners” and a healthy population of Gen Xers and Baby Boomers, “the two generations most likely to be boomerang buyers.”

Based on those criteria, the analysis targets metro areas surrounding Phoenix (with an estimated 348,329 potential boomerang buyers), Miami (322,141), and Detroit (304,501) as the most likely to see an uptick in return buyers.


Chris Pollinger, senior vice president of sales at First Team Real Estate, told RealtyTrac that previously foreclosed Americans shouldn’t rule out another try at homeownership. “The housing crisis certainly hit home the fact that homeownership is not for everyone, but those burned during the crisis should not immediately throw the baby out with the bathwater when it comes to their second chance,” Pollinger said.

Here are the top 10 areas that could see a boom in boomerang buyers:


Remodeling Market is from Wall Street Journal

by Kathleen O'Keefe
  • Need a Real Sponsor here


Remodeling Market Has Regained its Mojo, New Report Says



The overall U.S. housing market still is struggling to hit its stride, but the remodeling market meanwhile has fully regained its mojo, according to a report released Thursday by the Harvard University Joint Center for Housing Studies.

Kermit Baker, director of the center’s remodeling futures program, forecasts that spending in the U.S. remodeling market will grow by 4% to 5% this year to at least $330 billion, spanning work on both owned homes and rentals. That’s a slower growth rate than in previous years of the recovery, but it would be enough to make 2015 the richest year for remodeling spending of the past 15, surpassing the previous high point of $324 billion in 2007.

“The market is largely recovered,” Mr. Baker said. “It will resume growth at its historical level, which has been (an average of ) just about 5% year over year for the past 30 years.” The main reason: A similar easing of home-price appreciation. The median resale price of existing homes last month of $209,500 marked a 6% increase from a year earlier. In comparison, the increase in 2013 was nearly 10%. Homeowners are less likely to push ahead with an ambitious, pricey renovation if their home equity isn’t growing as rapidly anymore.

Another factor sapping a bit of momentum from the robust remodeling market is that homeowners don’t have as much motivation now as they did in previous years to install energy-efficient windows, doors and other features in their house, Mr. Baker said. Part of that is because federal tax credits for such improvements have waned. An additional influence is that energy costs, particularly for gas for heating homes, have declined markedly in recent months.

Still other factors will have the opposite effect, keeping remodeling spending from reversing course. Mr. Baker notes that more baby boomers are remodeling as they opt to stay in their long-time homes and equip them with handrails, elevators, first-floor bedrooms and other aging-in-place features.

Meanwhile, the remodeling market has listed in recent years toward bigger-ticket, discretionary jobs, including kitchen and bathroom upgrades. The share of overall remodeling spending attributable to such discretionary projects accounted for 30% of remodeling spending on owned homes in 2013, up by roughly a percentage point from 2011, Mr. Baker said. He anticipates that share will continue to grow this year, though he hasn’t forecast a specific percentage.

The increase in discretionary remodeling is mostly due to home price appreciation since 2012, Mr. Baker said.

“Spending on home improvements and housing prices almost perfectly relate; About 1% of the value of a home is used on home improvement,” he said. “Prices have come back up, so we think spending came up with that.”

Mr. Baker compiled his figures on remodeling spending based on data from the Commerce Department, the Department of Housing and Urban Development and Harvard research.

Anthony Carrino, a partner in Jersey City, N.J., contractor Brunelleschi Construction and a host of remodeling shows on Scripps Networks Interactive’s HGTV network, says he has seen customers spending more ambitiously in the past year.

“I think people’s confidence in their property is back because the volatility in the real estate market has leveled off,” Mr. Carrino said in an interview last week at the combined International Builders Show andKitchen & Bath Industry Show in Las Vegas. “I see people more willing to do the extra item–a steam room, a weight room–whereas they previously were just (interested in) getting equity into the home for resale.”

On the other coast, Michael Grosswendt, owner and president of Big & Tall Construction Inc.’s All Coast Construction, said he’s too busy to bid for all the jobs he is invited to pursue. Mr. Grosswendt’s 28-employee company specializes in big jobs of $5 million to $20 million in the Los Angeles area. Many of his clients of late are foreign homeowners looking to put more money into their U.S. properties due to the more-stable U.S. dollar and economy.

“I’m booked. Every week, I turn down invitations to bid,” Mr. Grosswendt said. He added, “The high end of the real estate market in Los Angeles and California is doing extremely well.”

Home Equity Gains 2014!!!

by Kathleen O'Keefe

Report: 946,000 Residential Properties Regained 1 Trillion Dollars in Total Equity in Q2 2014


A just-released analysis shows that nearly 950,000 homes returned to positive equity in the second quarter of 2014, bringing the total number of mortgaged residential properties with equity in the U.S. to more than 44 million. Nationwide, borrower equity increased year over year by approximately $1 trillion in Q2 2014.

The report from CoreLogic®, provider of global property information, analytics and data-enabled services, also indicates that approximately 5.3 million homes, or 10.7 percent of all residential properties with a mortgage, were still in negative equity as of Q2 2014 compared to 6.3 million homes, or 12.7 percent, for Q1 2014*. This compares to a negative equity share of 14.9 percent, or 7.2 million homes, in Q2 2013, representing a year-over-year decrease in the number of homes underwater by almost 2 million (1,962,435), or 4.2 percent.

Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both.

For the homes in negative equity status, the national aggregate value of negative equity was $345.1 billion at the end of Q2 2014, down $38.1 billion from approximately $383.2 billion in the first quarter 2014. On a year-over-year basis, the value of negative equity declined from $432.9 billion in Q2 2013, representing a decrease of 20.3 percent in 12 months.

Of the 44 million residential properties with positive equity, approximately 9 million, or 19 percent, have less than 20-percent equity (referred to as “under-equitied”) and 1.3 million of those have less than 5 percent (referred to as near-negative equity). Borrowers who are “under-equitied” may have a more difficult time refinancing their existing homes or obtaining new financing to sell and buy another home due to underwriting constraints. Borrowers with near-negative equity are considered at risk of moving into negative equity if home prices fall. In contrast, if home prices rose by as little as 5 percent, an additional 1 million homeowners now in negative equity would regain equity.

“The increase in borrower equity of $1 trillion from a year earlier is evidence that things are moving solidly in the right direction,” says Sam Khater, deputy chief economist for CoreLogic. “Borrower equity is important because home equity constitutes borrowers’ largest investment segment and, as a result, is driving forward the rise in wealth for the typical homeowner.”

“Many homeowners across the country are seeing the equity value in their homes grow, which lifts the economy as a whole,” says Anand Nallathambi, president and CEO of CoreLogic. “With more and more borrowers regaining equity, we expect homeownership to become an increasingly attractive option for many who have remained on the sidelines in the aftermath of the great recession. This should provide more opportunities for people to sell their homes, purchase a different home or refinance an existing mortgage.”

Highlights as of Q2 2014:

  • Nevada had the highest percentage of mortgaged properties in negative equity at 26.3 percent, followed by Florida (24.3 percent), Arizona (19.0 percent), Illinois (15.4 percent) and Rhode Island (14.8). These top five states combined account for 32.8 percent of negative equity in the United States.
  • Texas had the highest percentage of mortgaged residential properties in an equity position at 97.3 percent, followed by Alaska (96.5 percent), Montana (96.4 percent), North Dakota (96.0 percent) and Hawaii (96.0 percent).
  • Of the 25 largest Core Based Statistical Areas (CBSAs) based on population, Tampa-St. Petersburg-Clearwater, Fla., had the highest percentage of mortgaged properties in negative equity at 26.2 percent, followed by followed by Phoenix-Mesa-Scottsdale, Ariz. (19.5 percent), Chicago-Naperville-Arlington Heights, Ill. (17.9 percent), Riverside-San Bernardino-Ontario, Calif. (15.4 percent) and Atlanta-Sandy Springs-Roswell, Ga. (15.3 percent).
  • Of the largest 25 CBSAs based on population, Houston-The Woodlands-Sugar Land, Texas had the highest percentage of mortgaged properties in an equity position at 97.5 percent; followed by Dallas-Plano-Irving, Texas (97.0 percent); Anaheim-Santa Ana-Irvine, Calif. (96.4 percent); Portland-Vancouver-Hillsboro, Ore. (96.1 percent) and Seattle-Bellevue-Everett, Wash. (95.4 percent).
  • Of the total $345 billion in negative equity, first liens without home equity loans accounted for $180 billion aggregate negative equity, while first liens with home equity loans accounted for $165 billion.
  • Approximately 3.2 million underwater borrowers hold first liens without home equity loans. The average mortgage balance for this group of borrowers is $227,000. The average underwater amount is $57,000.
  • Approximately 2.1 million underwater borrowers hold both first and second liens. The average mortgage balance for this group of borrowers is $297,000.The average underwater amount is $77,000.
  • The bulk of home equity for mortgaged properties is concentrated at the high end of the housing market. For example, 94 percent of homes valued at greater than $200,000 have equity compared with 84 percent of homes valued at less than $200,000.

*Q1 2014 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.

Source: CoreLogic


AMERICAN Consumer Back and Ready to Spend

by Kathleen O'Keefe

Survey: American Consumer Back and Ready to Spend


The Great Recession of 2007 caused the once-prolific American shopper to go into a prolonged scrimp mode.  Now, some seven years later – and more than five years after the recession officially ended - the tide has turned, according to a new Consumer Reports study. A nationally representative survey of 1,006 adult Americans conducted by the Consumer Reports National Research Center revealed that people are now in the market for major purchases like homes, cars, and appliances – and that they plan to spend even more money in the coming year.

The full report, "How America Shops Now," is the cover story for the November 2014 issue of Consumer Reports magazine and is available on newsstands now and at

So traumatizing was the Great Recession that many Americans put off purchases and personal decisions such as marriage and divorce. Seven out of 10 people told Consumer Reports that they finally feel fiscally stable enough to make up for lost time. Other findings from the survey that point to shoppers' improved outlook:

  • 64 percent said that they'd dropped big bucks on a major purchase in the past year
  • 46 percent said they bought a new or used vehicle in the past year or intend to buy one in the coming year
  • 12 percent said they'd bought a residence in the past year or intend to do so in the coming year
  • 34 percent said they recently completed or are ready to do a major home-remodeling project
  • 31 percent are holding fewer garage sales
  • 30 percent are taking fewer odd jobs
  • 26 percent of young Americans (aged 18-34) said they were ready to buy a new home; 32 percent believe they can buy a car

"Shoppers may be back, but they're far from the profligate spenders they used to be. The harsh lessons of the prolonged downturn have had a major impact, perhaps a permanent one," says Tod Marks, senior projects editor for Consumer Reports.  "Our survey shows that Americans are spending their money very pragmatically, and even though the employment picture has improved, many are working scared – scared about their future job stability and earnings outlook."

Source: Consumer Reports


2015 Turnaround Time for First time buyers

by Kathleen O'Keefe

Is 2015 the Turnaround Year for First-Time Home Buyers?

The share of first-time home buyers has represented less than 30% of all buyers in 18 of the last 19 months, according to the National Association of Realtors.
Getty Images (2013)

First-time home buyers only made up 29% of sales of previously owned homes in October, the National Association of Realtors said Thursday.

The share of those buyers has represented less than 30% of all buyers in 18 of the last 19 months, the trade group said.

But chief economist Lawrence Yun said 2015 could mark a turnaround.

“First-time buyers in this year are essentially at their low point,” Mr. Yun said. “I do anticipate some growth going into next year.”

Factors that would encourage first-time buyers to enter the market are “developing positively” now, he added, pointing to stronger job creation, underwriting standards that have been “dialed down,” and the return of mortgage products that allow buyers to only put down 3% and pay mortgage insurance.

Related coverage:

Existing Home Sales Rise in October

Could Decline in Median New-Home Size Herald Return of Entry-Level Buyers?

Rental Apartment Construction Is at a 27-Year High

After Recession, Home-Remodeling Is Back On the Rise

U.S. Housing Starts Down 2.8% on Multifamily Drop

U.S. Home-Builder Confidence Rose in November






 for economic news and analysis 
 for central banking news and analysis

Get WSJ economic analysis delivered to your inbox:

Sign up for the WSJ's Grand Central, a daily report on global central banking 

Sign up for the Real Time Economics daily summary




LOAN LIMITS raised in 4 California Counties

by Kathleen O'Keefe

Loan limits raised in four California counties by Fannie, Freddie

FinanceMortgagesFreddie MacFannie MaeFederal Housing Administration
Limits for loans backed by Fannie and Freddie to rise in San Diego, Ventura, Monterey and Napa counties
Limits for Fannie and Freddie loans to change little in 2015, but four California counties are boosted

In the realm of mortgages backed by Fannie Mae and Freddie Mac, California tends to fall into two categories -- high-cost counties where eligible single-family home loans can't be higher than $625,500 (Los Angeles, Orange) or those with the standard limit of $417,000 limit (Riverside, San Bernardino).

It's the old coastal versus inland divide, for the most part, as in San Francisco at a $625,500 loan max and San Joaquin at a $417,000 limit.

Some counties fall in between, including San Diego, Ventura, Monterey and Napa. And those four, along with 42 other counties across the nation, will see their upper limits for Fannie and Freddie loans increase in 2015 as a result of rising home prices.

The Federal Housing Finance Agency, which has overseen Fannie and Freddie since 2008, when they were bailed out and became wards of the government, on Monday issued a list of the counties that saw adjustments. They include:

Napa at $615,250, up from $592,250.

Ventura at $603,750, up from $598,000.

San Diego at $562,350, up from $546,250

Monterey at $502,550, up from $483,000.

The FHFA also released an updated list of the 2015 limits for every area of the country. 

Fannie and Freddie keep housing finance going by buying bundles of loans from lenders, written to conform to rules including the size limits. They use the loans to back mortgage securities, guaranteeing payments to bond investors if the borrowers default.

About 60% of the mortgages written in the United States are backed by Fannie and Freddie, with the government also guaranteeing large numbers of  Veterans Administration and Federal Housing Administration loans.

Much of California's housing is so expensive that affluent buyers get loans not from those sources but from lenders offering outsized loans known as jumbos. In recent years those lenders have mainly been banks that keep the loans on their books as investments.

Competition to provide jumbos to high-net-worth individuals has become so intense that, in a reversal of the usual state of affairs, jumbo mortgages sometimes have lower interest rates these days than loans backed by Fannie and Freddie.

Wells Fargo & Co. the nation's largest home lender, on Monday was advertising conforming 30-year fixed-rate loans to purchase houses at 4.125% annual interest. The rate was just 4% for purchase-money jumbo mortgages with the rate fixed for 30 years.

Richard Cirelli, a mortgage broker in Laguna Beach, said rates on conforming loans and jumbos are comparable for loans of up to $1 million for an owner-occupied single-family home purchase or refinance.

However, Cirelli noted that other factors make conforming loans preferable for many borrowers. Allowable credit scores and down payments are lower on conforming loans than for jumbos, and it’s easier and cheaper to finance two- to four-unit properties or to cash out equity when refinancing a home, he said.

Follow @ScottReckard for news about banks and home loans


by Kathleen O'Keefe


2015 California Housing Market Forecast

by Kathleen O'Keefe
C.A.R. 2015 California Housing Market Forecast

October 7, 2014

C.A.R. releases its 2015 California Housing Market Forecast

California home sales to increase slightly, while prices post slowest gain in four years

LOS ANGELES (Oct. 7) – With more available homes on the market for sale, California’s housing market will see fewer investors and a return to traditional home buyers as home sales rise modestly and prices flatten out in 2015, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2015 California Housing Market Forecast,” released today. 

The C.A.R. forecast sees an increase in existing home sales of 5.8 percent next year to reach 402,500 units, up from the projected 2014 sales figure of 380,500 homes sold.  Sales in 2014 will be down 8.2 percent from the 414,300 existing, single-family homes sold in 2013.

“Stringent underwriting guidelines and double-digit home price increases over the past two years have significantly impacted housing affordability in California, forcing some buyers to delay their home purchase,” said C.A.R. President Kevin Brown.  “However, next year, home price gains will slow, allowing would-be buyers who have been saving for a down payment to be in a better financial position to make a home purchase.”

“Moreover, prospective buyers should know that it's a misperception that a 20 percent down payment is always required to buy a home.  There are numerous programs available that allow consumers to buy a home with less down payment, including FHA loans, which lets buyers put down as little as 3.5 percent,” continued Brown.

C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 3 percent in 2015, after a projected gain of 2.2 percent in 2014.  With nonfarm job growth of 2.2 percent in California, the state’s unemployment rate should decrease to 5.8 percent in 2015 from 6.2 percent in 2014 and 7.4 percent in 2013.

The average for 30-year fixed mortgage interest rates will rise only slightly to 4.5 percent but will still remain at historically low levels.

The California median home price is forecast to increase 5.2 percent to $478,700 in 2015, following a projected 11.8 percent increase in 2014 to $455,000.  This is the slowest rate of price appreciation in four years.

“With the U.S. economy expected to grow more robustly than it has in the past five years and housing inventory continuing to improve, California housing sales and prices will see a modest upward trend in 2015,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “While the Fed will likely end its quantitative easing program by the end of this year, it has had minimal impact on interest rates, which should only inch up slightly and remain low throughout 2015.  This should help moderate the decline in housing affordability we saw occur over the past two years.” 

“Additionally, the state will continue to see a bifurcated market, with the San Francisco Bay Area outperforming other regions, thanks to a more vigorous job market and tighter housing supply.” 

Appleton-Young will present an expanded forecast Thursday afternoon during CALIFORNIA REALTOR® EXPO 2014, running Oct. 7-9 at the Anaheim Convention Center in Anaheim, Calif.  The trade show attracts nearly 8,000 attendees and is the largest state real estate trade show in the nation.


  2011 2012 2013 2014p 2015f
SFH Resales (000s) 422.6 439.8 414.3 380.5 402.5
% Change 1.4% 4.1% -5.8% -8.2% 5.8%
Median Price ($000s) $286.0 $319.3 $407.2 $455.0 $478.7
% Change -6.2% 11.6% 27.5% 11.8% 5.2%
Housing Affordability Index 53% 51% 36% 30% 27%
30-Yr FRM 4.5% 3.7% 4.0% 4.3% 4.5%

p = projected
f = forecast

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® ( is one of the largest state trade organizations in the United States, with more than 165,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.



by Kathleen O'Keefe

California home sales maintain pace in September as price gains temper and market balances

LOS ANGELES (Oct. 22) – California home sales remained steady in September, as home price gains eased back from an unusually high increase in August, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. 

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 396,440 units in September, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  Sales in September inched up 0.4 percent from a revised 394,700 in August and were down 4.2 percent from 413,850 in September 2013.  September marked the 11th straight month that sales were below the 400,000 level and the 14th straight month that sales have declined on a year-over-year basis.  The statewide sales figure represents what would be the total number of homes sold during 2014 if sales maintained the September pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

“All of the current market indicators point to a more balanced real estate market,” said C.A.R. President Kevin Brown.  “With market competition cooling down, buyers’ and sellers’ expectations are more in line with each other.  The sales price-to-list price ratio is moving toward a more normal level of nearly 98 percent, as compared to 100 percent a year ago, when the market saw a frenzy of multiple offers.  The drop in the ratio implies that sellers are pricing more realistically.”

The median price of an existing, single-family detached California home fell 4 percent from August’s median price of $480,280 to $460,940 in September but was up 7.6 percent from the revised $428,290 recorded in September 2013.  The statewide median home price has been higher on a year-over-year basis for more than two years. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

“September’s slight sales increase and tempering in home price gains suggest optimism as we head into the slower homebuying season,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “Home prices are stabilizing, and the year-to-year sales decline is at the lowest level we’ve seen in the last 12 months.  The cooling price growth and recent drops in mortgage rates will ease housing affordability and help to improve sales in the final months of the year.”

Other key facts from C.A.R.’s September 2014 resale housing report include:

• Housing inventory inched up higher in September, with the available supply of existing, single-family detached homes for sale increasing from 4 months in August to 4.2 months in September. The index was 3.6 months in September 2013.  The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  A six- to seven-month supply is considered typical in a normal market.
• The median number of days it took to sell a single-family home rose in September, up from a revised 38.5 days in August to 39.2 days in September and from a revised 29.8 days in September 2013. 
• Mortgage rates rose slightly in September, with the 30-year, fixed-mortgage interest rate averaging 4.16 percent, up from 4.12 percent in August but down from 4.49 percent in September 2013, according to Freddie Mac.  Adjustable-mortgage interest rates in September were also up, averaging 2.43 percent, up from 2.37 percent in August but down from 2.67 percent in September 2013.

Graphics (click links to open):

• September sales at-a-glance infographic.
• Unsold Inventory by price range
• Change in sales by price range.
• Share of sales by price range.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state, and represent statistics of existing single-family detached homes only.  County sales data are not adjusted to account for seasonal factors that can influence home sales.  Movements in sales prices should not be interpreted as changes in the cost of a standard home.  The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  Due to the low sales volume in some areas, median price changes in September exhibit unusual fluctuation. The change in median prices should not be construed as actual price changes in specific homes.

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® ( is one of the largest state trade organizations in the United States with 165,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

September 2014 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

September-14 Median Sold Price of Existing Single-Family Homes Sales
State/Region/County Sep-14 Aug-14   Sep-13   MTM% Chg YTY% Chg MTM% Chg YTY% Chg
CA SFH (SAAR) $460,940 $480,280   $428,290 r -4.0% 7.6% 0.4% -4.2%
CA Condo/Townhomes $369,500 $379,580   $343,700 r -2.7% 7.5% -0.4% -1.8%
Los Angeles Metro $414,300 $434,550   $392,030 r -4.7% 5.7% -3.7% -2.2%
Inland Empire $275,820 $275,240   $252,100   0.2% 9.4% -0.3% -0.5%
S.F. Bay Area $730,240 $742,900   $678,520 r -1.7% 7.6% -7.5% 1.5%
S.F. Bay Area                  
Alameda $675,430 $732,220   $640,340   -7.8% 5.5% -9.2% 8.3%
Contra-Costa (Central Cty) $742,520 $750,000   $679,960   -1.0% 9.2% -23.0% -6.4%
Marin $1,151,040 $977,460   $893,140   17.8% 28.9% -16.4% -9.1%
Napa $633,930 $541,670   $477,270   17.0% 32.8% 18.5% -10.3%
San Francisco $950,340 $900,910   $858,330   5.5% 10.7% -6.2% 0.0%
San Mateo $1,075,000 $1,000,000   $909,000 r 7.5% 18.3% -3.5% 13.9%
Santa Clara $850,000 $865,000   $779,480 r -1.7% 9.0% -2.7% -4.5%
Solano $328,040 $328,280   $286,220   -0.1% 14.6% -8.5% 6.5%
Sonoma $496,400 $484,640   $455,850   2.4% 8.9% 1.9% 10.2%
Southern California                  
Los Angeles $486,030 $474,640   $459,010 r 2.4% 5.9% 0.8% -1.8%
Orange County $696,190 $699,430   $672,680   -0.5% 3.5% -13.2% -3.6%
Riverside County $316,500 $318,640   $293,560   -0.7% 7.8% -2.7% -2.9%
San Bernardino $213,940 $209,200   $185,860   2.3% 15.1% 3.6% 3.3%
San Diego $519,420 $510,860   $490,130   1.7% 6.0% -2.0% 0.4%
Ventura $589,080 $602,060   $550,000   -2.2% 7.1% -20.3% -10.8%
Central Coast                  
Monterey $451,000 $492,500   $422,500   -8.4% 6.7% -2.7% -4.9%
San Luis Obispo $480,640 $475,000   $495,350   1.2% -3.0% -10.3% 3.5%
Santa Barbara $778,230 $806,030   $641,300 r -3.4% 21.4% 3.2% -6.3%
Santa Cruz $670,000 $657,600   $639,500   1.9% 4.8% 2.2% 14.5%
Central Valley                  
Fresno $208,210 $203,760   $185,830   2.2% 12.0% -0.3% -1.6%
Glenn $147,500 $170,000   $134,000   -13.2% 10.1% 18.8% -9.5%
Kern (Bakersfield) $215,750 $212,800 r $193,500 r 1.4% 11.5% -20.5% 1.8%
Kings County $183,330 $183,330   $168,460   0.0% 8.8% 16.7% 1.2%
Madera $156,670 $166,670   $190,000   -6.0% -17.5% -6.3% -31.8%
Merced $159,500 $186,670   $178,570   -14.6% -10.7% 10.6% 21.1%
Placer County $384,850 $388,720   $365,290   -1.0% 5.4% -2.6% 9.7%
Sacramento $276,960 $272,750   $255,390   1.5% 8.4% -2.0% 0.4%
San Benito $424,000 $415,000   $428,950   2.2% -1.2% -9.8% -2.6%
San Joaquin $265,400 $265,060   $242,370   0.1% 9.5% -1.6% -12.0%
Stanislaus $230,000 $232,240   $194,890   -1.0% 18.0% -5.6% -4.9%
Tulare $175,000 $184,440   $163,500   -5.1% 7.0% -6.9% 3.6%
Other Counties in California                  
Amador $225,000 $211,110   $252,780   6.6% -11.0% -9.5% -15.6%
Butte County $258,650 $255,000   $250,000   1.4% 3.5% -11.5% 22.3%
Calaveras $238,000 $224,000   $218,990   6.3% 8.7% 8.7% 2.4%
Del Norte $138,000 $156,200   $136,500   -11.7% 1.1% -29.2% -15.0%
El Dorado County $364,650 $391,670   $334,910 r -6.9% 8.9% -13.9% 2.4%
Humboldt $246,050 $255,260   $251,090   -3.6% -2.0% -11.2% -26.9%
Lake County $180,000 $178,330   $150,000   0.9% 20.0% -24.7% -17.1%
Tuolumne $215,910 $214,710   $207,690   0.6% 4.0% -33.8% -22.1%
Mendocino $307,690 $291,670   $285,710   5.5% 7.7% 5.0% 23.5%
Nevada $322,500 $338,500   $306,000   -4.7% 5.4% -26.9% -8.4%
Plumas $270,000 $272,000   $270,000   -0.7% 0.0% -25.0% 0.0%
Shasta $222,550 $212,190   $189,050   4.9% 17.7% 10.2% 18.0%
Siskiyou County $155,000 $127,500   $155,000   21.6% 0.0% -34.7% -27.3%
Sutter $215,000 $217,750   $204,700   -1.3% 5.0% 4.8% -12.2%
Tehama $166,670 $156,000   $150,000   6.8% 11.1% 33.3% 18.5%
Yolo $344,230 $396,550   $331,030   -13.2% 4.0% -6.9% 8.0%
Yuba $220,750 $200,000   $170,000   10.4% 29.9% -1.4% -1.4%

r = revised
NA = not available

September 2014 County Unsold Inventory and Time on Market
(Regional and condo sales data not seasonally adjusted)

September-14 Unsold Inventory Index Median Time on Market
State/Region/County Sep-14 Aug-14   Sep-13   ##### #####   #####  
Calif. Single-family (SAAR) 4.2 4.0   3.6   39.2 38.5 r 29.8 r
Calif. Condo/Townhomes 3.5 3.5   3.1   42.8 36.3 r 29.7  
Los Angeles Metro 4.5 4.3   3.7 r 49.9 48.4   37.4  
Inland Empire 4.8 4.9 r 3.8 r 51.1 50.0   31.8  
San Francisco Bay Area 2.8 2.6   2.7 r 35.5 37.6   38.0 r
San Francisco Bay Area                    
Alameda 2.3 2.2   2.6   49.8 47.3   49.2  
Contra-Costa (Central Cty) 2.9 2.4   2.1 r 52.3 50.2   50.1 r
Marin 3.6 2.8   3.8   45.2 40.1   43.2  
Napa 5.3 6.7   5.0   64.4 52.8   53.1  
San Francisco 3.6 2.9   3.4   23.1 23.5   23.7  
San Mateo 2.0 1.9   2.6   19.9 20.8   20.1  
Santa Clara 2.2 2.2   2.1   21.1 20.3   20.1  
Solano 3.8 3.4   3.1   46.3 42.1   35.4  
Sonoma 3.0 3.4   3.6   48.4 45.2   48.2  
Southern California                    
Los Angeles 4.2 4.0   3.4   45.1 43.0   33.0  
Orange County 4.3 4.0   3.8   57.3 55.0   51.0  
Riverside County 4.9 4.8   3.8   53.5 55.2   32.2  
San Bernardino 4.7 5.0 r 3.8   47.1 38.2   31.2  
San Diego 4.4 4.5   4.2   26.9 25.7   25.5  
Ventura 5.1 4.1   3.7   59.2 56.8   45.6  
Central Coast                    
Monterey 4.6 4.4   4.0   26.1 29.2   26.6  
San Luis Obispo 5.1 5.0   5.4   46.7 40.6   29.0  
Santa Barbara 4.3 4.7   3.9 r 37.3 42.8   37.6 r
Santa Cruz 3.1 3.2   3.8   27.6 23.4   22.8  
Central Valley                    
Fresno 5.2 5.2   4.4   27.1 27.8   25.0  
Glenn 5.5 5.5   4.5   33.9 50.3   45.5  
Kern (Bakersfield) 3.7 2.9   2.9 r 28.0 24.0 r 16.0 r
Kings County 3.2 4.0   3.0   41.9 50.3   37.2  
Madera 7.1 6.9   5.0   41.9 26.8   27.6  
Merced 4.1 4.6   3.2   34.0 27.5   21.9  
Placer County 3.8 3.8   3.2   27.0 27.4   22.1  
Sacramento 3.4 3.4   3.0   23.9 23.5   20.4  
San Benito 4.5 4.1   3.4   24.3 23.9   19.4  
San Joaquin 3.7 3.7   2.8   23.4 24.1   19.5  
Stanislaus 3.7 3.4   2.7   24.0 24.5   20.1  
Tulare 4.9 4.5   4.2   36.2 37.0   24.1  
Other Counties in California                    
Amador 6.8 5.6   4.4   64.6 61.0   43.1  
Butte County 4.6 4.4   5.5   29.8 27.5   37.2  
Calaveras 6.9 8.4   6.0   72.0 42.0   64.0  
Del Norte 11.6 7.4   8.8   103.0 129.0   96.0  
El Dorado County 5.2 4.9   4.9   55.2 36.7   34.2  
Humboldt 7.2 7.0   5.1   45.5 32.7   32.9  
Lake County 8.3 6.4   5.7   58.7 103.3   74.2  
Tuolumne 9.0 6.5   6.5   72.6 49.1   51.1  
Mendocino 9.0 9.5   10.8   57.8 102.6   85.9  
Nevada 8.4 6.5   6.5   51.0 34.0   21.0  
Plumas 11.4 9.5   10.9   151.0 112.0   118.0  
Shasta 5.8 6.6   5.5   42.0 28.3   38.8  
Siskiyou County 12.6 9.1   8.9   38.3 64.6   57.6  
Sutter 4.5 5.0   2.7   40.0 20.0   14.0  
Tehama 7.4 10.2   7.6   61.0 54.2   36.4  
Yolo 3.5 3.5   3.6   26.4 24.3   21.0  
Yuba 3.8 3.8   2.9   28.0 19.0   16.0  

r = revised
NA = not available

TOP 5 REASONS for buying in California

by Kathleen O'Keefe

top 5 reasons for buying

Displaying blog entries 11-20 of 22




Share This Page

Contact Information

Photo of Kathleen O'Keefe Galigher Real Estate
Kathleen O'Keefe Galigher
50100 Avenida Vista Bonita
La Quinta CA 92253
(760) 567-7822

©2017 California Lifestyle Realty CalBRE# 01317331