Archive for October, 2005
Higher Inventory of Un-Sold Homes - Orange Real Estate Market Update
To Schedule a showing for this property, please Click HerePosted: October 1st, 2005
Bart Smith’s
Real EstateUpdate
October, 2005
The Market, she’s a changin’….We are definitely seeing a slow down in home sales here in Orange County! The inventory of unsold homes is continuing to rise ever so slowly. Compared to last year, however, we are in good shape. County wide, we have about 2 months of inventory; 8000 listings, with 4000 sales per month. These are rounded numbers, but you get the idea. By the way, September home prices are up about 15% over the same period a year ago. What bubble?
Interest rates continue….to yo-yo up and down between 5.25% and 5.75%, still very low historically. Of course, these are 30 year fixed rate loans. Adjustable loans can start as low as 1% on the negative amortization loans. Call me with your questions!
Which loan should I choose?….you ask. How long will you need the loan? What is your risk tolerance? Would you re-finance in a few years? These are some of the questions you should ask yourself before choosing a loan.