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April Mortgage Rate

CAL Vet & VA Loans 3.75% APR*

  • ** The median existing-home price for all housing types in February was $202,600, which is 7.5 percent above February 2014. This marks the 36th consecutive month of year-over-year price gains and the largest since last February (8.8 percent).
  • With all indications pointing to a rate increase from the Federal Reserve this year – perhaps as early as this summer – affordability concerns could heighten as home prices and rents both continue to exceed wages
  • Properties typically stayed on the market for 62 days in February, down from 69 days in January and unchanged from a year ago. Short sales were on the market the longest at a median of 120 days in February, while foreclosures sold in 58 days and non-distressed homes took 61 days. Thirty-four percent of homes sold in February were on the market for less than a month.

Sources

http://www.calvet.ca.gov/HomeLoans

http://www.realtor.org

http://www.bankrate.com

*percentages fluctuate with the market, contact a local mortgage broker for up to date information.

**Information was up to date at time of print. Contact Bryce Battershell or a local Realtor for updated information.

BUYER’S MARKET

It is widely accepted in the Real Estate World that:

0-4 months is a “Seller’s Market”

5-7 months is a “Balanced Market”

8-12 or more is a “Buyer’s Market”

So with that as a guide in Mariposa County with 28 months of inventory we are still in a “Buyer’s Market”.

aprilinventoryChart is from http://www.movoto.com

For additional Market inside Contact Bryce Battershell at Mariposa Real Estate

Find your home value in Mariposa, CA