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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Downey. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 949-357-6117

Average Home Price $450,000 - View Graph Trend
Average Price Compared to Last Year Up 0-5%
Average Time on Market 60-90 days
Best Selling Price Range$350,000 - $399,000
Worst Selling Price Range$1,000,000+
Prices As % of Asking Price 95-100%
Existing Home Prices for the past 90 days are?Increasing
Market Trend Decreasing
Buyers’ or Sellers’ Market More buyers than sellers
Buyer Activity for the past 90 days in Downey isIncreasing
Seller Activity for the past 90 days in Downey is?Increasing
Multiple Offers?Yes
What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?40-45%
Is Financing Available For Qualified Buyers?Yes
Comments on Financing For Qualified BuyersFinancing is THE first step to homeownership. Most buyers think that when they find the right house they will be able to qualify for the home and purchase it. The lending guidelines have changed dramatically from times past. Getting pre-qualified is a MUST BEFORE viewing homes not when you have found the right house and then trying to close.
Housing Inventory Very tight market
Inventory CommentsRight now, short sales are clogging the system giving a sense that there are more available homes than there really are. An equity seller is receiving multiple offers because of the limited supply of homes for the amount of pent-up demand. Buyers need to be prepared to pay asking price or above in order to get the contract.
Greatest Activity First Time Buyers
Reason to Buy/Sell Population Growth
Nearest Metro AreaLos Angeles
Housing Hot SpotsBellflower, Lakewood, Norwalk, La Mirada
Average Sold Price $450,000 - View Graph Trend
Downey Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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Mortgage Rates
– Feb 15th, 2012 –
---------------------------------
 30 yr. fixed rate:     3.87%
 15 yr. fixed rate:     3.18%
  30 yr. jumbo rate:  4.69%
  15 yr. jumbo rate:  4.00%

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