Market Update:  My thoughts on the whole thing :-)

Rates are the second highest they've been all year.  My clients now seem to be finding homes they like and are willing to make the bid. There's just more inventory to choose from. 

  • On one side of the coin, there's not as much inventory as in the past.
  • On the other side of the coin, there's more inventory for the amount of buyer's closing escrow. 

Are home prices going to continue to rise?  I don't know.  I can tell you one thing.  When I stand on my stoop, as far as I can see, there's all kinds of newbie's coming to California, in search for opportunity.  My family and I were talking, did you know I'm a 9th generation Californian on my grandpa's side?  

Yesterday I wrote a little letter to all of the newbie Californias.  You can read it by clicking here: http://www.elizabethrusso.com/blog/dear-newbie-californians/

 

Mortgage Rates: Week ending 6/14/18:

30-Yr FRM
4.62%
0.08 1-Wk
0.71 1-Yr
0.4 Fees/Points
15-Yr FRM
4.07%
0.06 1-Wk
0.89 1-Yr
0.4 Fees/Points
5/1-Yr ARM
3.83%
0.09 1-Wk
0.68 1-Yr
0.3 Fees/Points

CalifMedian Home Price: April 2018:

  • California: $584,460

  • Calif. highest median home price by region/county: San Mateo, $1,770,000

  • Calif. lowest median home price by region/county: Lassen, $155,500

Have a little time on your hands?  Check out some of my most favorite luxury homes for sale, in the East Bay Area CA: http://www.elizabethrusso.com/homes-for-sale/luxury-homes/

Mortgage Rates: Week ending June 16, 2018

Don't forget to make contact with me when you're ready to purchase or sell a home.  I want to be your total home resource!