Headlines Capture Our Attention
November 16, 2010
The Sun newspaper which is published in San Bernardino County had a large headline this morning that read "Owning a home easier". In reading the article, the "easier" referred to the ratio of folks that could afford a median priced home in the Riverside/San Bernardino Counties region. The High Desert region was the most affordable in the state with 85% of first time home buyers able to buy a home. This statistic is basically derived from the price of the median home and the income of residents in that region. For example, in the Santa Barbara area, the affordable index is at 51%. Even with a reasonably high income demographic, the price of housing in that region is very high.
While folks are able to qualify to purchase a home in our Inland Southern California region, the volume of sales does not reflect an eagerness to take advantage of the low prices and the low interest rates. Some of the hesitation may be the result of a lack of confidence in the future trend of home prices. Some may be the lack of good credit resulting from past foreclosures even though these folks may now have stabilized their financial situations.Some may be the result of a lack of an appealing mix of housing.
If you are considering a purchase either as a first time buyer or as a move-up or move-down buyer or as an investor, this is the time to call your real estate agent, describe the home you would like and take a day or a half day to check out the inventory. There are truly some motivated sellers and some great properties waiting to be purchased. Remember, The Sun said "Owning a home is easier"
The Sun newspaper which is published in San Bernardino County had a large headline this morning that read "Owning a home easier". In reading the article, the "easier" referred to the ratio of folks that could afford a median priced home in the Riverside/San Bernardino Counties region. The High Desert region was the most affordable in the state with 85% of first time home buyers able to buy a home. This statistic is basically derived from the price of the median home and the income of residents in that region. For example, in the Santa Barbara area, the affordable index is at 51%. Even with a reasonably high income demographic, the price of housing in that region is very high.
While folks are able to qualify to purchase a home in our Inland Southern California region, the volume of sales does not reflect an eagerness to take advantage of the low prices and the low interest rates. Some of the hesitation may be the result of a lack of confidence in the future trend of home prices. Some may be the lack of good credit resulting from past foreclosures even though these folks may now have stabilized their financial situations.Some may be the result of a lack of an appealing mix of housing.
If you are considering a purchase either as a first time buyer or as a move-up or move-down buyer or as an investor, this is the time to call your real estate agent, describe the home you would like and take a day or a half day to check out the inventory. There are truly some motivated sellers and some great properties waiting to be purchased. Remember, The Sun said "Owning a home is easier"
posted by shirley harry at 8:23 AM
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