Only problem is a short sale is one step away from foreclosure, A 5k increase in sale price is not very good either over a years period.
I am glad to see that a number of the homes sold are to young people... Finally prices are at a level that they are affordable and small bumps in prices are good. It keeps the housing market more sane....I wonder how many homes are in 'shadow inventory'... you know the foreclosed homes but not on the market yet...I know of 3 in my neighborhood....and those selling prices should be major discounts as they are real serious DIYs.
I hope it's true but I think it's just a tick. With taxes going up, employers limiting hours to avoid Obama Care, Obama's lie about raising taxes on people who make less than $250,000 ( see link below for increased SS tax). I think we are just seeing some local investors and bay area visitors investing in rental homes.
PS: Cracks me up those under 40 who voted for Obama, they will never see SS for themselves.
What about all the people who bought houses before the Market Crash (aka- "Mortgage Meltdown"), and want to sell, but cannot because they are major "under water"? I feel sorry for all these people. I bet there are alot of them, including most of your neighbors. They have vacation homes and do not want them anymore, probably needing the money to pay for their first home, and to relieve their balance sheet of the additional cost and mortgage of the vacation home. Alot of people who have good jobs, but mis-calculated in buying that vacation home, and now are trapped in their good jobs now.
A big part of Motherlode sales has always been as a secondary market i.e., retirement and vacation homes - to the bay area. Friends we have there share that their home sales are on the uptick and many areas are seeing higher prices. Providing those folks continue to feel confident in a strengthening economy and the ability to retire we should see continued improvement. The downside is that younger families are not moving here which continues to erode away our ability to fund quality schools.
NOTE: You must be a registered site user and logged in to post comments (see links below).