"Affordability". This is a word one hears around and about the purchasing power of the American Public. the other words you will also hear are, "priced out of the market". This is what happens when buyers can no longer afford to purchase home in the
Beginning in November of last year, a new California Residential Purchase Agreement and Joint Escrow is being used by Realtors in California. As with any new product there are both things that are better but more importantly there are things that may have been better for the buyer with the old contract. I have received training in using the new contract and can point out pitfalls that need to be addressed in the new contract . Call me if you are interested in buying or selling property.
CAR News Line From December 31, 2014
According to the California Associations of Realtors Sources, "for the first time since early 2012, home buyers said affordability is a bigger concern for them than lack of homes for sale. This is based on a most-recent Redfin Real-Time Buyer Survey.
In addition, the same article stated prices have remained steady across California despite the fact that the number of homes sold declined by 21 % in the month of November. In addition and despite the November declined the article stated that , " the steady price growth of 2014 could turn in to good news for buyers in 2015 as the supply of homes priced under $300,000 is likely to increase. That's because price growth in the low to middle price range has translated into increased equity for a large swath of the homeowners, who will be in a position to sell in 2015.
Now what does all this mean for the Mariposa County buyer or seller? As our median sales price is around $270,000 , I predict that 2015 will be a great year for buying or selling real estate in our area as I believe our county will finally be in step with what is happening in the rest of the state.