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Ventura Counties Rising Home Prices: Is Another Bubble in the Making?
Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home.
Rising Home Prices: Is Another Bubble in the Making? by Mark Schniepp
Summer 2017 We are now seeing record high selling prices for homes in many markets of California and the nation.
The sky high home values that seemed unbelievable back in 2007 have now been eclipsed in many of the larger markets of the state. The markets in the Bay Area now boast the highest values and record fast sell times.
Demand Conditions Employment is strong throughout the state. In all coastal counties, the unemployment rate is now at the full employment level, meaning that job opportunities are relatively abundant and wages are rising. The average rate for a 30-year fixed mortgage was 3.83% this week — significantly below the 5% to 6% range during the 2005 to 2007 “bubble” years. In fear of facing higher interest rates because of overt statements by the Federal Reserve to push rates higher in a measured fashion, demand for ... more
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