While the wonderful celebrations of the holiday season have come to a close and the New Year has arrived, the excitement of the holiday season continues for us. Coldwell Banker is excited about the opportunities 2010 will offer and is looking forward to going beyond the successes we had in 2009. As the real estate market progresses towards stability, we present the top five reasons to buy and sell California real estate in 2010:
#5 – First-time Homebuyers Tax Credit Extension and Expansion The original tax credit helped drive California home sales up in November 2009 and with the credit’s extension and expansion, home sales should continue upward before the credit’s April 30, 2010 expiration2.
#4 – Increase in Statewide Median Home Price Existing single family home prices increased 5.8 percent in November to $304,520 compared with November 2008 at $287,8802. In Orange County, the cities of Laguna Beach and Newport Beach ranked fifth and sixth, respectively, out of ten cities statewide with the highest median home prices, while Lake Forest and Fountain Valley ranked fourth and tenth, respectively, with the greatest median home price increase since November 2008.
#3 – Shorter “On the Market” Time The C.A.R. unsold inventory index fell from 7.1 months to 4.5 months in November 20092.
#2 – Interest Rates Continue to be at All Time Lows Recent reports from Freddie Mac state that interest rates are still near record lows and are very affordable by historical standards3.
#1 – The California Lifestyle From our beaches, mountains and deserts to our urban, suburban and rural communities, California’s diverse landscape, culture and weather make investing in California an easy choice.
In the New Year’s market, buyers and sellers continue to utilize Coldwell Banker for our team of real estate professionals, our industry-leading advertising and our advantageous online marketing, including presence on the number one ranked real estate Web site, Realtor.com1. To start your search for you next home or to find an agent to help sell your home, visit www.OCViewOnline.com and browse our fine properties and meet one of our real estate professionals.
1 “Realtor.com Still No. 1.” Inman News. Friday, December 18, 2009.
http://www.inman.com/news/2009/12/18/realtorcom-still-no-1?page=0%2C0
2 “November Sales and Price Report.” California Association of Realtors.Tuesday, Dec. 22, 2009 http://www.car.org/newsstand/newsreleases/novsalesandprice/
3 “2009 Ends with Mortgage Rates Just Over 5 Percent” Freddie Mac. Thursday, Dec 31, 2009 http://www.freddiemac.com/pmms/release.html
Top 5 Reasons to Buy and Sell California Real Estate in 2010
Saturday, January 9th, 2010While the wonderful celebrations of the holiday season have come to a close and the New Year has arrived, the excitement of the holiday season continues for us. Coldwell Banker is excited about the opportunities 2010 will offer and is looking forward to going beyond the successes we had in 2009. As the real estate market progresses towards stability, we present the top five reasons to buy and sell California real estate in 2010:
#5 – First-time Homebuyers Tax Credit Extension and Expansion The original tax credit helped drive California home sales up in November 2009 and with the credit’s extension and expansion, home sales should continue upward before the credit’s April 30, 2010 expiration2.
#4 – Increase in Statewide Median Home Price Existing single family home prices increased 5.8 percent in November to $304,520 compared with November 2008 at $287,8802. In Orange County, the cities of Laguna Beach and Newport Beach ranked fifth and sixth, respectively, out of ten cities statewide with the highest median home prices, while Lake Forest and Fountain Valley ranked fourth and tenth, respectively, with the greatest median home price increase since November 2008.
#3 – Shorter “On the Market” Time The C.A.R. unsold inventory index fell from 7.1 months to 4.5 months in November 20092.
#2 – Interest Rates Continue to be at All Time Lows Recent reports from Freddie Mac state that interest rates are still near record lows and are very affordable by historical standards3.
#1 – The California Lifestyle From our beaches, mountains and deserts to our urban, suburban and rural communities, California’s diverse landscape, culture and weather make investing in California an easy choice.
In the New Year’s market, buyers and sellers continue to utilize Coldwell Banker for our team of real estate professionals, our industry-leading advertising and our advantageous online marketing, including presence on the number one ranked real estate Web site, Realtor.com1. To start your search for you next home or to find an agent to help sell your home, visit www.OCViewOnline.com and browse our fine properties and meet one of our real estate professionals.
1 “Realtor.com Still No. 1.” Inman News. Friday, December 18, 2009.
http://www.inman.com/news/2009/12/18/realtorcom-still-no-1?page=0%2C0
2 “November Sales and Price Report.” California Association of Realtors.Tuesday, Dec. 22, 2009 http://www.car.org/newsstand/newsreleases/novsalesandprice/
3 “2009 Ends with Mortgage Rates Just Over 5 Percent” Freddie Mac. Thursday, Dec 31, 2009 http://www.freddiemac.com/pmms/release.html
Tags: california real estate, First-time Homebuyers Tax Credit Extension and Expansion, realtor.com
Posted in Commentary, News | No Comments »