Yesterday, Tuesday, November 25, 2014, 13 hours ago
Home prices in Los Angeles and Orange counties held steady in September - the second straight month they failed to rise or fall, according to Standard & Poor's/Case-Shiller index, released Tuesday. On a year-over-year basis, prices are still up, albeit less sharply than before.
Readers who see three YouTube videos on our front page this past week must be curious. Has The Americzan Reporter become tabloid? Is the editor out of his mind? There is a simple explanation, and it is a news-related one.
The median price of a home in Los Angeles County rose by 7.1 percent in October, compared with the same month a year ago, while the number of homes sold dipped by 3.3 percent, a real estate information service announced today. According to CoreLogic DataQuick, the median price of a Los Angeles County home was $455,000 last month, up from $425,000 in October 2013.
The Southern California housing market continued wallowing last month, with sales sinking to a three-year low for October and the year-over-year price increase the smallest in 28 months, as the ranks of investors and cash buyers continued to thin, a market tracker said. Last month, sales of new and previously owned houses and condominiums in all six of the region's counties fell 4 percent from a year earlier, to 19,271 - but 18 percent below the October average of 23,413 properties - CoreLogic DataQuick said.
Yesterday, Tuesday, November 25, 2014, 10 hours ago
A for sale sign is posted outside a house in Los Angeles, on Monday, Nov. 24, 2014. A new report finds the number of Southern California homes bought for $2 million or more in recent months is the highest on record.
Yesterday, Tuesday, November 25, 2014, 11 hours ago
Even with housing sales slow, Arizona still have some of the highest rates of flipper sales in the U.S. But flippers are finding larger profits in California cities, Seattle and New York, and bigger profits in Mid-Atlantic states and older cities such as Baltimore, Pittsburgh and Richmond, Virginia. Flippers buy a house - usually ones with distressed mortgages or coming out of foreclosure - and then resell it in a year or less for a profit after some upgrades.
Construction crews work on model homes at the new Park Place housing community in Ontario. In the realm of mortgages backed by Fannie Mae and Freddie Mac, California tends to fall into two categories -- high-cost counties where eligible single-family home loans can't be higher than $625,500 or those with the standard limit of $417,000 limit .
Loan limits were increased in Monterey, Napa, San Diego, and Ventura counties: "C.A.R. applauds the FHFA for retaining the existing Fannie Mae and Freddie Mac conforming loan limits, and even raising the limit in some California counties," said 2015 C.A.R. President Chris Kutzkey. "The FHFA recognizes that home prices have risen significantly in California, especially in high-cost coastal areas, where lowering the loan limits would have hurt the housing recovery."