state of today's housing market.
Because of risky loans given out by many lenders, the
credit market has tightened, making it harder to obtain
an affordable loan without a large downpayment.
The good news is that interest rates are still very low,
making it still a good time to get a loan.
Also, there has been downward pressure on prices in
the last year, prices are still relatively high compared
to years past.
The La Crescenta area is also home to a school
district that has many schools with Blue-ribbon status
and high test scores, making it a place that many
people are wiling to pay a little more to live.
If you have any questions about what your home may
be worth now, please don't hesitate to contact me by
email or at 818-970-9491,
Many seniors who sell their homes and want to buy another in California may be
eligible to take advantage of Propositions 60 and 90.
These propositions provide a one-time property tax benefit to homeowners over 55
years of age, who will buy or build replacement homes in certain counties in
California. This exemption provides the avoidance of property tax reassessment for
the purchase of the new home.
For information regarding the details of these Propositions and possible benefits,
please email me, or call me directly.
Median home price - July 08: $350.760*
Highest median home price by C.A.R. region July 08: Santa Barbara So. Coast $940,000*
Lowest median home price by C.A.R. region July 08: High Desert $177,330*
First-time Buyer Affordability Index - Second Quarter 08: 48 percent*
Mortgage rates - week ending 08/28/08 30-yr. fixed: 6.40% Fees/points: 0.6% 15-yr. fixed: 5.93%
Fees/points: 0.6% 1-yr. adjustable: 5.33% Fees/points: 0.7%(Source: Freddie Mac)
*Source: C.A.R.
California is currently experiencing a sever water shortage, thanks in part to eight years of
drought conditions along the Colorado River. Homeowners are challenged to save water,
especially during the summer months.
Southern California Water Agencies have several recommendations for saving water in your yard.
For instance, plant a portion of your landscaping with beautiful native plants and reduce the
amount of water-hungry grass in your yard. For the grass you keep, set your lawnmower blade
higher.
Other easy tips, ideas for drought-tolerant plants, and a list of invasive plants can be found at
their website: bewaterwise.com.
Data compiled from local Multiple Listing Service searches and reports. All information contained in or generated by this website is deemed to be
reliable, but is not guaranteed. Please use judgement, timeliness, and feel free to ask questions before utilizing any information found within this
(or any other!) site. Information contained within these reports do not necessarily reflect or imply any opinions of mine or Coldwell Banker.
