California Home Prices Fell 4.6 Percent 4th Quarter

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Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781
https://activerain.com/droplet/v7s

California Home Prices Fell 4.6 Percent 4th quarter 

Federal Price index places California as the 9th worst market in the Country.  California home prices fell 4.6 percent in the 4th quarter.  We are now off 44 percent from home prices over the past 5 years. 

An article in The Orange County Register quotes the FHFA economist Andrew Leventis, "late-year gains vs. the third quarter.  California prices rose 0.21 percent in the 3 months, one of 27 states - plus D.C. -with year-ending gains".  While FHFA's national index shows a 2 percent points price decline over the latest four quarters, 12 states and the District of Columbia posted price increases.  When coupled with the fact that about half of all U.S. states saw price increases in the latest quarter, this growth adds to ounting evidence that real estate markets are seeing at least some signs of life."

We in Orange County are not so lucky.  We are 222 out 225 of metro areas in the country in affordability.  The statistics that are never reported are the number of small business hurt in the economic problems of our Country.  Our area had a lot of small business owners that are either out of business or their incomes have dropped at least 3/4 of what they were before the recession.  There is no improvement in fact it is getting worse. 

We have over 12 percent unemployment those are the people that had W2 incomes.  We are hurt badly.  Any increases in the unemployment numbers is only achieved by the droping of those no longer looking for work.  In my book that is not something to brag about.  Our government is sick.  Not working for the people and getting out of the way but managing the decline.  That is not leadership.  People want their small businesses to succeed and the others want to have good jobs.  Neither is possible in this state under these conditions. 

In do not trust our government's statistics or their effectiveness in helping with the problems.  I would like them to get out of the way.

 

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Topic:
Real Estate Market Trends
Location:
California Orange County Mission Viejo
Groups:
Realtors®
Agents who want REFERRALS!
Orange County Real Estate
Silent Majority
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Tags:
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Rainmaker
1,036,603
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Tim - while those numbers are not welcome by most I understand that in some areas of California they are beginning to move back up.

Feb 27, 2012 11:14 PM #1
Rainmaker
1,022,697
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

That may be true and I wish all Realtor a good market.  Ours just does not look good for the future.

Feb 27, 2012 11:35 PM #2
Rainmaker
854,383
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

It is true Tim all real estate is local.  Our situation is not good.

Feb 27, 2012 11:44 PM #3
Rainmaker
3,261,957
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Tim, I look at these numbers and sadly I find it is just a "scare headline" for the media. In my market I have not seen anything less than 25- 30 % drop for the past few years and in the big picture when the median home is $1.1m vs $1.4m it is still out of reach for most people. I think the media should be focusing on "affordability index" and "confidence index" just my take on the market.

Feb 29, 2012 09:53 AM #4
Rainmaker
1,022,697
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I know Mark it is not improving with any real speed.

Feb 29, 2012 11:23 PM #5
Rainmaker
1,022,697
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Endre

It's a time of difficulty after many years of fumbling around we are still in a problem.

Feb 29, 2012 11:25 PM #6
Rainmaker
499,022
Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP

Hi Tim,

 

I just spent a week in Rancho Mirage at my Brother/Sister in Law's and seeing if now would be a good time to sell.  We are holding off for now and will continue to monitor the market by following Agent's like you.

 

I love that area and have long considered getting licensed in CA ......

Mar 01, 2012 01:32 AM #7
Rainmaker
1,022,697
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Dan

It is hard to say because the markets are dependent on jobs and the government in the state is anti business at this time.

Mar 01, 2012 05:45 AM #8
Rainmaker
1,716,200
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

In our area we have less and less foreclosures, less REO's and short sales. Prices are much lower, then was in 2006, but for sure, our real estate market is going up.

Mar 03, 2012 06:32 AM #9
Rainmaker
1,022,697
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

SIB I am so glad.

Mar 03, 2012 09:04 AM #10
Ambassador
2,301,090
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Tim,  a lot of things don't seem to make the lists, news, or truth articles..  We do need to get the Federal Government out of the way.

Mar 03, 2012 10:14 AM #11
Rainmaker
1,022,697
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Judi

We have to get back ot allowing the citizen to live without all this interference.

Mar 03, 2012 01:56 PM #12
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Rainmaker
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