Tuesday, December 28, 2004
Thinking about buying a home in Southern California
Now might be the time.
According to a new article in USA Today by Sue Kirchhoff. In Housing market forecast: Cooler, Kirchhoff notes that next year's housing market might be a bit off last years, "but don't expect homes to become more affordable."
Overall, most think 2004 will be a record year, just not quite as hot as 2005. In fact home prices are expected to continue to appreciate well into next year.
Towards the end of next year, many analysts predict mortgage rates will be between 6.25% - 6.75%.
Some argue this raise in rates will make homes less affordable, especially in places like California, while others argue that an improving economy will offset the difference in rates.
Many analysts are not even mentioning "bubbles" anymore as increased immigration and stringent building codes, coupled with baby boomer wealth, might keep housing prices shooting strongly upwards, barring an economic disaster.
Need a Los Angeles California Real Estate Agent?
Need preapproval on a mortgage? Need a Los Angeles California Mortgage Broker?
According to a new article in USA Today by Sue Kirchhoff. In Housing market forecast: Cooler, Kirchhoff notes that next year's housing market might be a bit off last years, "but don't expect homes to become more affordable."
Overall, most think 2004 will be a record year, just not quite as hot as 2005. In fact home prices are expected to continue to appreciate well into next year.
Towards the end of next year, many analysts predict mortgage rates will be between 6.25% - 6.75%.
Some argue this raise in rates will make homes less affordable, especially in places like California, while others argue that an improving economy will offset the difference in rates.
Many analysts are not even mentioning "bubbles" anymore as increased immigration and stringent building codes, coupled with baby boomer wealth, might keep housing prices shooting strongly upwards, barring an economic disaster.
Need a Los Angeles California Real Estate Agent?
Need preapproval on a mortgage? Need a Los Angeles California Mortgage Broker?
# posted by Dahcredyns @ 11:01 AM 
