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Pebble Singha ..'s Blog

By Pebble Singha .. | Agent in Encino, CA

Nation wide Home values Decline in the 1st quarter 2010

Pebble Singha
Certified Distressed Property Expert
Buyers Agent

Hi Everyone,
Here is the latest news on the  market quoted from the California Association of Realtors website.These statistics were provide by zillow.
Home values in most U.S. markets continued to decline in the first quarter of 2010, according to  the Zillow Home Value Index which decreased 3.8 percent year-over-year, and 1 percent quarter-over-quarter. However, home values in several California markets showed signs of improvement, according to the report.

Housing market conditions varied across the country, with 106 of the 135 areas tracked by Zillow continuing to decline on a year-over-year basis. Negative equity rose to 23.3 percent in the first quarter nationwide compared with 21.4 percent in the fourth quarter of 2009, Zillow reported.  Foreclosures reached a new peak in March, with more than one out of every 1,000 U.S. homes entering into foreclosure during the month.

Home values in the Los Angeles, San Diego, San Francisco, Santa Barbara and Ventura MSAs have stabilized significantly in the past year, marking what may be a bottom, according to the report.  Home values in those markets have risen significantly for the past 10 months, following lows set in April or May 2009.
The california median price as per the web site is :
March 2010: $301,790 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region March 2010: Santa Barbara So. Coast $890,000(Source: C.A.R.)
Calif. lowest median home price by C.A.R. region March 2010: High Desert $122,970 (Source: C.A.R.)
The home affordabilty in the  Fourth Quarter 2009 was at 64 percent (Source: C.A.R.)

Buyers great time to buy so get out there and get a great agent to help you find that dream home. You can also call me.
To know more on Buying a home,selling a home or how to avoid foreclosure log on to my website

Thanks for reading folks.

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