Monday, June 29, 2009
By Rob Zwemmer
www.DesertRealEstatePrices.com
Good Monday Morning
108°F | 82°F
With median home prices at $152,000, and mortgage rates in the high fours the month of May was the 11th strait month that we closed with sales in the double digits. Sale volume in May rose by 38.2% compared to last year.
“With affordability for first-time home-buyers at a record high, sales of existing single-family homes are selling fast. “buyers are beginning to realize that the combination of favorable home prices, historically low mortgage rates and first-time home buyer tax incentives may not happen again for many years.”
Investors are buying properties at $50 - $60 per sqft. These properties normally need some repairs and TLC. If you want to build your own home these days you will be paying a minimum of $100 - $125 per sqft. , and that does not include the land value.
The summer here in the desert always presents great deals in the housing market. There are fewer buyers to compete with and lenders will take greater discounts on their properties.
http://www.desertbankownedhomes.com/
Palm Springs Area Mortgage Market update!
1 Canadian dollar = 0.865876 U.S. dollars
E-mail me with any questions you might have
Have An Awesome Week!
Rob Zwemmer
AND HERE'S YOUR MONDAY MORNING COFFEE!!
http://www.desertrealestateprices.com/Morning-coffee