Home Prices Finally Up – Purchase Contracts without A Broker sometimes being used.
We are seeing a lot of activity in the sale of homes. In some markets homes and condos are on the market only a few days, and they are receiving multiple offers. Some sellers are even selling wit…hout a broker and having our office do the paperwork for less than 1% of the transaction, thereby saving 5%. On a $600,000 home, that’s a savings of $30,000 to the Seller.
In addition to Orange County Prices going up, with multiple offers on homes, the same is happening even in the Inland Empire.
Chapman University’s Inland Empire Economic Forecast indicates that in the Inland Empire in 2012, evidence of the recovery included:
a 1.6% annual jobs increase, the greatest increase since the recession;
an 8.7% yearly increase in residential construction starts, the greatest since the recession;
a solid average home price increase of 8% on overall home sales; and
a steep decrease of 22-32% in notices of default (NODs) recorded.
Chapman expects similar positive movements across the state in 2013.
Will 2013 be a good year to buy or build a home in the Inland Empire? Chapman University says yes. They forecast:
the number of jobs will increase by 2.2% in 2013;
residential construction starts will increase by 14.6% in 2013;
home prices will increase 7% in 2013; and
interest rates will not increase until early 2014.See More