ADVERTISING SUPPLEMENTSan Fernando Valley2019 Prices HitLow Rates Ease Pain of High Prices for BuyersThe national average interest rate on a home loan during Decem-ber of 3.72 percent translated to a minimum income of $146.036needed to qualify for a local median priced home of $723,000.Record Highs,Supply VanishesThat was for an 80 percent, 30-year, fixed-rate loan of $578,400. The PITI- principal and interest, property taxes and insurance -totaled $3,651per month, which breaks down to $2,669 for principal and interest, $753for taxes, and $229 for home insurance. The low interest rate meantthe income needed was down 2.1 percent compared to a year ago, eventhough today's median price was up from $669,000 reported a year ago.Southiand Regonal Assooaton of ReaitorsBy Nancy trovell Camrahan. President, and Danid wberThe price of homes and condo-miniums sold in the San FernandoSOUTHLAND REGIONALAssocIA ION OF REALTORS', INC.Income-to-Loan GuideValley during 2019 soared torecord highs even as the inven-tory plunged to a record low andsales fell compared to 2018, theSouthland Regional Association ofRealtors reported today.Single-Family Homes  DECEMBER  San Fermando ValleyMinimum income Needed t $146,036Voice of Real Estate2020Quality for a LoanPayts1920Menty PropYear-Year Percentage Change-2.1%$22in Income Needed to Quality fora LoanThe an-nual price ofsingle-familyhomes came inat $709,250,breakingthrough the$700,00benchmark forthe first timeon record.The annualprice was up4.2 percentfrom the prior year and well abovethe $611,933 annual price reportedin 2007 at the peak of last decade'scord low annual total of 1,591 was setin 1994 while the record high annualsales tally of 5,041 came in 2002.December ended with the 770 ac-tive listings, the fewest of any monthon record reaching back to 1985.The prior record low of 819 homeported since the Association startedkeeping the statistic in 1985. Therecord high annual total of 15,263home sales came in 1988.The condominium annual salestotal for 2019 of 1,826 sales wasdown 1.2 percent from 2018. The re-S753fotal MonthlyPITIMedian Price$3.651$723,000$2.669Interest RateLoan Amount (30)$578,4003.72%Menthly Mert dtret PymenSource Bouurd giona Aasocation of REALTOrsePIToal Morly kan principalainereut, plus taves urance saymentaSingle-Family Annual Price Sets Record High at $709,250Source: Southland Regional Association of REALTORStive buyers," he said, "but we've gota real affordability crisis when ittakes a minimum annual incomeof $146,000 to buy a local median-and condominium listings came inDecember 2017 while the recordhigh of 14,976 active listings was setin July 1992.The active inventory has plungedfor each of the last seven monthswith the lastthree monthsregisteringdrops above30 percent.The an-se00.000Nancy Tronell Carnahan,SRAR 2020 PresidentSTOD 000priced home."se00.000December ended with sales ofhomes andcondomini-ums up 5.5percent and36.9 percent,respectively."We've got a realaffordability crisis when ittakes a minimum annualnual numbers income of $146,000 to buy The homewhat we've a local median-priced home' dominiumS00.000sales boom.Similarly, condominiums soldin the Valley during 2019 set arecord high with an annual price of$439,325, which was up 2.0 percentS400.000s00 000from 2018.s200.000The condo annual price has beenabove $410,000 for each of the lastthree years, with each surpassinglast decade's highest annual price of$394,917 reported in 2006."Flaws in the market allowedprices to rise during last decade'sboom years even though there werethousands of listings available thatshould have kept prices in check,"said Nancy Troxeli Carnahan, the2020 president of the 10,300-mem-ber Southland Regional Associationconfirmand con-S100.000medianprice rose inDecember by 8.1 percent and 3.5percent while the inventory plunged34.0 percent. Pending sales, a mea-sure of future closed escrows, wereknown allalong," saidTim Johnson, the Association's chiefexecutive officer. "Lack of hous-ing supply leads to rising prices anda shortage of affordable housing.which continues to push homeown-ership out of reach of a growingnumber of families."Low interest rates on homeloans help a percentage of prospec-001 200 200s 20or 00 2011 201 2s 2019 1 1901 19a 1o2019 Annual Single-Family Home Sales Fall 4%Source: Southland Regional Association of REAL TORSup 9.1 percent..000The Southland Rogional Association of Roaltors is a local trade association with more than10,300 members serving the San Femandoand Santa Clarita Valeys. SRAR is one of thelargest local associations in the nation.of Realtors.2000"A vanishing inventory last yearalong with exceptionally low interestrates pushed prices higher,"she said,"even as the pool of qualified buyersin all price categories shrank andVideos Help Avoid Common R.E. PitfallsMistakes happen! Yet why not avoid con-flict by leaming where others went wrong?Brief 1- to 2-minute videos on multiplecommon real estate pitfalls are availablePRO STANDARDSETHICS DEOSHONESTYINTEGRITY4.000sales slowed."5000Realtors assisted 5,174 single-family home and 1,826 condo-minium transactions throughout theSan Fernando Valley in 2019. Theannual home sales total was down4.000at www.srar.com.CLICKRESPECT HERE2.000Videos are available in English, Spanishand Chinese.3.5 percent from 2018.It was the lowest annual total re-THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYSwww.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.comREALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics.EALTOR ADVERTISING SUPPLEMENT San Fernando Valley 2019 Prices Hit Low Rates Ease Pain of High Prices for Buyers The national average interest rate on a home loan during Decem- ber of 3.72 percent translated to a minimum income of $146.036 needed to qualify for a local median priced home of $723,000. Record Highs, Supply Vanishes That was for an 80 percent, 30-year, fixed-rate loan of $578,400. The PITI - principal and interest, property taxes and insurance -totaled $3,651 per month, which breaks down to $2,669 for principal and interest, $753 for taxes, and $229 for home insurance. The low interest rate meant the income needed was down 2.1 percent compared to a year ago, even though today's median price was up from $669,000 reported a year ago. Southiand Regonal Assooaton of Reaitors By Nancy trovell Camrahan. President, and Danid wber The price of homes and condo- miniums sold in the San Fernando SOUTHLAND REGIONAL AssocIA ION OF REALTORS', INC. Income-to-Loan Guide Valley during 2019 soared to record highs even as the inven- tory plunged to a record low and sales fell compared to 2018, the Southland Regional Association of Realtors reported today. Single-Family Homes  DECEMBER  San Fermando Valley Minimum income Needed t $146,036 Voice of Real Estate 2020 Quality for a Loan Payts 1920 Menty Prop Year-Year Percentage Change -2.1% $22 in Income Needed to Quality for a Loan The an- nual price of single-family homes came in at $709,250, breaking through the $700,00 benchmark for the first time on record. The annual price was up 4.2 percent from the prior year and well above the $611,933 annual price reported in 2007 at the peak of last decade's cord low annual total of 1,591 was set in 1994 while the record high annual sales tally of 5,041 came in 2002. December ended with the 770 ac- tive listings, the fewest of any month on record reaching back to 1985. The prior record low of 819 home ported since the Association started keeping the statistic in 1985. The record high annual total of 15,263 home sales came in 1988. The condominium annual sales total for 2019 of 1,826 sales was down 1.2 percent from 2018. The re- S753 fotal Monthly PITI Median Price $3.651 $723,000 $2.669 Interest Rate Loan Amount (30) $578,400 3.72% Menthly Mert d tret Pymen Source Bouurd giona Aasocation of REALTOrse PIToal Morly kan principalainereut, plus taves urance saymenta Single-Family Annual Price Sets Record High at $709,250 Source: Southland Regional Association of REALTORS tive buyers," he said, "but we've got a real affordability crisis when it takes a minimum annual income of $146,000 to buy a local median- and condominium listings came in December 2017 while the record high of 14,976 active listings was set in July 1992. The active inventory has plunged for each of the last seven months with the last three months registering drops above 30 percent. The an- se00.000 Nancy Tronell Carnahan, SRAR 2020 President STOD 000 priced home." se00.000 December ended with sales of homes and condomini- ums up 5.5 percent and 36.9 percent, respectively. "We've got a real affordability crisis when it takes a minimum annual nual numbers income of $146,000 to buy The home what we've a local median-priced home' dominium S00.000 sales boom. Similarly, condominiums sold in the Valley during 2019 set a record high with an annual price of $439,325, which was up 2.0 percent S400.000 s00 000 from 2018. s200.000 The condo annual price has been above $410,000 for each of the last three years, with each surpassing last decade's highest annual price of $394,917 reported in 2006. "Flaws in the market allowed prices to rise during last decade's boom years even though there were thousands of listings available that should have kept prices in check," said Nancy Troxeli Carnahan, the 2020 president of the 10,300-mem- ber Southland Regional Association confirm and con- S100.000 median price rose in December by 8.1 percent and 3.5 percent while the inventory plunged 34.0 percent. Pending sales, a mea- sure of future closed escrows, were known all along," said Tim Johnson, the Association's chief executive officer. "Lack of hous- ing supply leads to rising prices and a shortage of affordable housing. which continues to push homeown- ership out of reach of a growing number of families. "Low interest rates on home loans help a percentage of prospec- 001 200 200s 20or 00 2011 201 2s 20 19 1 1901 19a 1o 2019 Annual Single-Family Home Sales Fall 4% Source: Southland Regional Association of REAL TORS up 9.1 percent. .000 The Southland Rogional Association of Roal tors is a local trade association with more than 10,300 members serving the San Femando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. of Realtors. 2000 "A vanishing inventory last year along with exceptionally low interest rates pushed prices higher,"she said, "even as the pool of qualified buyers in all price categories shrank and Videos Help Avoid Common R.E. Pitfalls Mistakes happen! Yet why not avoid con- flict by leaming where others went wrong? Brief 1- to 2-minute videos on multiple common real estate pitfalls are available PRO STANDARDS ETHICS DEOS HONESTY INTEGRITY 4.000 sales slowed." 5000 Realtors assisted 5,174 single- family home and 1,826 condo- minium transactions throughout the San Fernando Valley in 2019. The annual home sales total was down 4.000 at www.srar.com. CLICK RESPECT HERE 2.000 Videos are available in English, Spanish and Chinese. 3.5 percent from 2018. It was the lowest annual total re- THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics. EALTOR

Date: January 18, 2020

Expired Ad

This ad expired on
February 17, 2020 (4 days ago)
more_vert

Southland Regional Association of REALTORS

Real Estate / Real Estate Agents

Call
Call (818) 786-2110
Directions
Get directions to this
location on Google Maps.
Website
Open website
in new tab.

Text

ADVERTISING SUPPLEMENT San Fernando Valley 2019 Prices Hit Low Rates Ease Pain of High Prices for Buyers The national average interest rate on a home loan during Decem- ber of 3.72 percent translated to a minimum income of $146.036 needed to qualify for a local median priced home of $723,000. Record Highs, Supply Vanishes That was for an 80 percent, 30-year, fixed-rate loan of $578,400. The PITI - principal and interest, property taxes and insurance -totaled $3,651 per month, which breaks down to $2,669 for principal and interest, $753 for taxes, and $229 for home insurance. The low interest rate meant the income needed was down 2.1 percent compared to a year ago, even though today's median price was up from $669,000 reported a year ago. Southiand Regonal Assooaton of Reaitors By Nancy trovell Camrahan. President, and Danid wber The price of homes and condo- miniums sold in the San Fernando SOUTHLAND REGIONAL AssocIA ION OF REALTORS', INC. Income-to-Loan Guide Valley during 2019 soared to record highs even as the inven- tory plunged to a record low and sales fell compared to 2018, the Southland Regional Association of Realtors reported today. Single-Family Homes DECEMBER San Fermando Valley Minimum income Needed t $146,036 Voice of Real Estate 2020 Quality for a Loan Payts 1920 Menty Prop Year-Year Percentage Change -2.1% $22 in Income Needed to Quality for a Loan The an- nual price of single-family homes came in at $709,250, breaking through the $700,00 benchmark for the first time on record. The annual price was up 4.2 percent from the prior year and well above the $611,933 annual price reported in 2007 at the peak of last decade's cord low annual total of 1,591 was set in 1994 while the record high annual sales tally of 5,041 came in 2002. December ended with the 770 ac- tive listings, the fewest of any month on record reaching back to 1985. The prior record low of 819 home ported since the Association started keeping the statistic in 1985. The record high annual total of 15,263 home sales came in 1988. The condominium annual sales total for 2019 of 1,826 sales was down 1.2 percent from 2018. The re- S753 fotal Monthly PITI Median Price $3.651 $723,000 $2.669 Interest Rate Loan Amount (30) $578,400 3.72% Menthly Mert d tret Pymen Source Bouurd giona Aasocation of REALTOrse PIToal Morly kan principalainereut, plus taves urance saymenta Single-Family Annual Price Sets Record High at $709,250 Source: Southland Regional Association of REALTORS tive buyers," he said, "but we've got a real affordability crisis when it takes a minimum annual income of $146,000 to buy a local median- and condominium listings came in December 2017 while the record high of 14,976 active listings was set in July 1992. The active inventory has plunged for each of the last seven months with the last three months registering drops above 30 percent. The an- se00.000 Nancy Tronell Carnahan, SRAR 2020 President STOD 000 priced home." se00.000 December ended with sales of homes and condomini- ums up 5.5 percent and 36.9 percent, respectively. "We've got a real affordability crisis when it takes a minimum annual nual numbers income of $146,000 to buy The home what we've a local median-priced home' dominium S00.000 sales boom. Similarly, condominiums sold in the Valley during 2019 set a record high with an annual price of $439,325, which was up 2.0 percent S400.000 s00 000 from 2018. s200.000 The condo annual price has been above $410,000 for each of the last three years, with each surpassing last decade's highest annual price of $394,917 reported in 2006. "Flaws in the market allowed prices to rise during last decade's boom years even though there were thousands of listings available that should have kept prices in check," said Nancy Troxeli Carnahan, the 2020 president of the 10,300-mem- ber Southland Regional Association confirm and con- S100.000 median price rose in December by 8.1 percent and 3.5 percent while the inventory plunged 34.0 percent. Pending sales, a mea- sure of future closed escrows, were known all along," said Tim Johnson, the Association's chief executive officer. "Lack of hous- ing supply leads to rising prices and a shortage of affordable housing. which continues to push homeown- ership out of reach of a growing number of families. "Low interest rates on home loans help a percentage of prospec- 001 200 200s 20or 00 2011 201 2s 20 19 1 1901 19a 1o 2019 Annual Single-Family Home Sales Fall 4% Source: Southland Regional Association of REAL TORS up 9.1 percent. .000 The Southland Rogional Association of Roal tors is a local trade association with more than 10,300 members serving the San Femando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. of Realtors. 2000 "A vanishing inventory last year along with exceptionally low interest rates pushed prices higher,"she said, "even as the pool of qualified buyers in all price categories shrank and Videos Help Avoid Common R.E. Pitfalls Mistakes happen! Yet why not avoid con- flict by leaming where others went wrong? Brief 1- to 2-minute videos on multiple common real estate pitfalls are available PRO STANDARDS ETHICS DEOS HONESTY INTEGRITY 4.000 sales slowed." 5000 Realtors assisted 5,174 single- family home and 1,826 condo- minium transactions throughout the San Fernando Valley in 2019. The annual home sales total was down 4.000 at www.srar.com. CLICK RESPECT HERE 2.000 Videos are available in English, Spanish and Chinese. 3.5 percent from 2018. It was the lowest annual total re- THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics. EALTOR ADVERTISING SUPPLEMENT San Fernando Valley 2019 Prices Hit Low Rates Ease Pain of High Prices for Buyers The national average interest rate on a home loan during Decem- ber of 3.72 percent translated to a minimum income of $146.036 needed to qualify for a local median priced home of $723,000. Record Highs, Supply Vanishes That was for an 80 percent, 30-year, fixed-rate loan of $578,400. The PITI - principal and interest, property taxes and insurance -totaled $3,651 per month, which breaks down to $2,669 for principal and interest, $753 for taxes, and $229 for home insurance. The low interest rate meant the income needed was down 2.1 percent compared to a year ago, even though today's median price was up from $669,000 reported a year ago. Southiand Regonal Assooaton of Reaitors By Nancy trovell Camrahan. President, and Danid wber The price of homes and condo- miniums sold in the San Fernando SOUTHLAND REGIONAL AssocIA ION OF REALTORS', INC. Income-to-Loan Guide Valley during 2019 soared to record highs even as the inven- tory plunged to a record low and sales fell compared to 2018, the Southland Regional Association of Realtors reported today. Single-Family Homes DECEMBER San Fermando Valley Minimum income Needed t $146,036 Voice of Real Estate 2020 Quality for a Loan Payts 1920 Menty Prop Year-Year Percentage Change -2.1% $22 in Income Needed to Quality for a Loan The an- nual price of single-family homes came in at $709,250, breaking through the $700,00 benchmark for the first time on record. The annual price was up 4.2 percent from the prior year and well above the $611,933 annual price reported in 2007 at the peak of last decade's cord low annual total of 1,591 was set in 1994 while the record high annual sales tally of 5,041 came in 2002. December ended with the 770 ac- tive listings, the fewest of any month on record reaching back to 1985. The prior record low of 819 home ported since the Association started keeping the statistic in 1985. The record high annual total of 15,263 home sales came in 1988. The condominium annual sales total for 2019 of 1,826 sales was down 1.2 percent from 2018. The re- S753 fotal Monthly PITI Median Price $3.651 $723,000 $2.669 Interest Rate Loan Amount (30) $578,400 3.72% Menthly Mert d tret Pymen Source Bouurd giona Aasocation of REALTOrse PIToal Morly kan principalainereut, plus taves urance saymenta Single-Family Annual Price Sets Record High at $709,250 Source: Southland Regional Association of REALTORS tive buyers," he said, "but we've got a real affordability crisis when it takes a minimum annual income of $146,000 to buy a local median- and condominium listings came in December 2017 while the record high of 14,976 active listings was set in July 1992. The active inventory has plunged for each of the last seven months with the last three months registering drops above 30 percent. The an- se00.000 Nancy Tronell Carnahan, SRAR 2020 President STOD 000 priced home." se00.000 December ended with sales of homes and condomini- ums up 5.5 percent and 36.9 percent, respectively. "We've got a real affordability crisis when it takes a minimum annual nual numbers income of $146,000 to buy The home what we've a local median-priced home' dominium S00.000 sales boom. Similarly, condominiums sold in the Valley during 2019 set a record high with an annual price of $439,325, which was up 2.0 percent S400.000 s00 000 from 2018. s200.000 The condo annual price has been above $410,000 for each of the last three years, with each surpassing last decade's highest annual price of $394,917 reported in 2006. "Flaws in the market allowed prices to rise during last decade's boom years even though there were thousands of listings available that should have kept prices in check," said Nancy Troxeli Carnahan, the 2020 president of the 10,300-mem- ber Southland Regional Association confirm and con- S100.000 median price rose in December by 8.1 percent and 3.5 percent while the inventory plunged 34.0 percent. Pending sales, a mea- sure of future closed escrows, were known all along," said Tim Johnson, the Association's chief executive officer. "Lack of hous- ing supply leads to rising prices and a shortage of affordable housing. which continues to push homeown- ership out of reach of a growing number of families. "Low interest rates on home loans help a percentage of prospec- 001 200 200s 20or 00 2011 201 2s 20 19 1 1901 19a 1o 2019 Annual Single-Family Home Sales Fall 4% Source: Southland Regional Association of REAL TORS up 9.1 percent. .000 The Southland Rogional Association of Roal tors is a local trade association with more than 10,300 members serving the San Femando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. of Realtors. 2000 "A vanishing inventory last year along with exceptionally low interest rates pushed prices higher,"she said, "even as the pool of qualified buyers in all price categories shrank and Videos Help Avoid Common R.E. Pitfalls Mistakes happen! Yet why not avoid con- flict by leaming where others went wrong? Brief 1- to 2-minute videos on multiple common real estate pitfalls are available PRO STANDARDS ETHICS DEOS HONESTY INTEGRITY 4.000 sales slowed." 5000 Realtors assisted 5,174 single- family home and 1,826 condo- minium transactions throughout the San Fernando Valley in 2019. The annual home sales total was down 4.000 at www.srar.com. CLICK RESPECT HERE 2.000 Videos are available in English, Spanish and Chinese. 3.5 percent from 2018. It was the lowest annual total re- THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics. EALTOR

Other Ads

codeEmbed

Ads Widget

close

Widget URL

Embed Code

Embed these ads anywhere HTML code is accepted by pasting the snippet below.