by Scot Campbell – Source Wall Street Journal – 07/12/2012
Huntington Beach home prices have been increasing in the lower price segments for months… especially single family homes under $650,000 where multiple offers are now very common.
The WSJ published an article today which makes the case that “the housing bust is over”. Certainly not everyone is convinced, and higher mortgage rates could quickly slow down the market. However, the observations in many of the Housing Indexes are now showing what homebuyers and real estate agents have been saying for many months: “The market has turned”.
Read the WSJ article here: http://online.wsj.com/article/SB10001424052702303644004577520414196790098.html?mod=WSJ_hpp_LEFTTopStories
Huntington Beach homes priced in the higher price segments are selling in greater numbers and price appreciation is visible there too but not to the extent we are seeing in the starter home market.
The availability of Jumbo loans at attractive interest rates is increasing which should help effective demand in the move-up and upper end market segments, but qualifying still remains an issue for many buyers (especially the self employed).
For questions about buying and selling real estate in Orange County, contact Scot Campbell. He is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA. He has been a licensed broker for over 21 years and has brokered over 1000 homes and just about every type of transaction imaginable. Read his profile and client reviews at www.ScotCampbell.com He can be reached at 714-960-0700 at the office, 714-336-0394 on his mobile number or via email at Scot.Campbell@ColdwellBanker.com
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