Tips on Buying a New Home
California Is Still A Hot Real Estate Market
Realty Times Feature Article by Blanche Evans
While some locales may have cooled slightly due to the dot-com meltdown, the California energy crisis, an uncertain economy and other factors, California is experiencing overall increases in sales and property values according to a new report by the California Association of Realtors
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The "2002 Market Pulse: Survey of California Home Sellers" shows that the desire for a larger home, job changes, a desire for a better location and changes in family status were primary reasons behind California homeowners' decisions to sell.
"According to our research, 57 percent of sellers said their primary motivation for selling was the desire for a larger home, followed by 18 percent who sold due to a job change," said C.A.R. President Robert Bailey. "With the median home price in California increasing 25.5 percent in May (from May 2001) to $321,130, it's no surprise that 85 percent of homeowners cited recent increases in home prices as an external factor in their decision to sell. Moreover, 82 percent cited anticipated future increases in home prices as a reason they were selling."
The report, based on responses by recent home sellers, also showed that 17 percent of sellers desired a better location, with 8 percent selling their homes because of changes in family status. The report also listed external factors in their decisions to sell which included recent increases in home prices (85 percent), anticipated future increases in home prices (82 percent), recent low mortgage rates (65 percent) and anticipated future increases in mortgage rates (30 percent).
According to the report, not a single home seller surveyed believed that prices in California have peaked.
Click here to read more about the California market
What You Should Know Before Choosing a Lot
by Sherry Karasik
Before you build your dream home, it's wise to spend some time considering the ground
on which it will stand. The perfect location involves more than just an address
- it's everything from the quality of the soil under your feet to the view of the
sunset from your back porch.
First and foremost, consider your lifestyle. "The consumer needs to know what they
want now, and five years into the future," advises Nikki Villarreal, marketing director
for Hammonds Homes, one of the nation's top ranked home-building companies and recent
winner of the Texas Association of Builders Star Award. "Also, they should have
some idea about how long they plan on living in this house."
If you have children, for example, you'll want a yard that provides a level playing
space. If you don't have children, might you have them during the time you plan
on staying in the house? Or will you soon be an empty nester wanting to simplify
your life with a low maintenance yard? If you are a gardener, you'll want to consider
if the lot has good sun exposure. By answering these questions, you'll be able to
narrow your choices down to what's best for your present and future lifestyle.
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