Archive for the 'Interest rates' Category

Days on Market, DOM, 92706, North Santa Ana 

In Floral Park, CA, we seem to have hit a peak in the Real Estate market and the days on marekt is coming back down!  Sellers watch out… the Buyers are buying again.  There are 29 listed homes in the Floral Park, West Floral Park, Park Santiago area that are either Back-up or Pending in the MLS.  This indicates that homes in North Santa Ana are selling and that is great!  There were 14 homes in the zip code which includes Floral Park that sold from 06/08 to mid July 2008.  If the all the homes currently in escrow are sold - that will be doubling what just closed!  Wow… that’s fantasic news. 

Lenders are sending out the alert! Now is the time to Lock Your Rate!! The Feds are on the move and we cannot expect these excellent rates to last!! Jeff Parks at Home Security Financial has been talking about this for weeks and Brian Brady of Mortgagerates.com posted a video yesterday on Youtube saying now is the time. See Brian at http://www.longbeachrealestatehome.com/long-beach-mortgage-rates-report-june-19-2008 in a one minute video as he explains the market in a capsule.

We are advising all our buyers who are looking at Historic properties in Floral Park and all other areas to Lock in the best rate they can today!!

Currently 9 listings in FLORAL PARK for sale - Average price is $841,877 and the Average days on market is 124 (Soon to be one more listing - stay tuned!)

Currently 18 listings in WEST FLORAL PARK for sale - Average price is $630,588 and the Average days on market is 93

Currently 32 listings in PARK SANTIAGO for sale - Average price is $558,288 and the Average days on market is 125

Currently 5 listings in FISHER PARK for sale - Average price is $740,560 and the Average days on the market is 58

In all 4 neighborhoods the Average price is $631,181 and the Average days on the market is 105. The range of Price in these neighborhoods is from $325,000 to $2,749,900.

In addition, there 2 spectacular Estate Homes for sale in Floral Park, one for $2.650,000 and one for $2,749,900 million! These are both completely unique and remarkable.

istock_000005955840xsmall-custom-custom.jpgIf you have been watching the interest rates lately, you have noted that they have been gradually creeping up. We did have a 1/4 point drop on Tuesday, but, by and large, rates have been on a consistent climb. As Laurie Manny has said, “Cheap rates may be a thing of the past” see http://www.longbeachrealestatehome.com/real-estate/Long-Beach-Mortgage-Information

Even with the new jumbo FHA, we are seeing buyers who just cannot qualify due to the interest rates.

If you or one of your friends are one of those who have been waiting to see the market “turn”, you might take note. The number of sales has been rising and the number of multiple offers is high and rates are rising. Sounds like a combination to push the prices up!!

 

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