Nevada City Virtual Tour

Sunday, June 30, 2013

Home Prices Rose 12% Year-over-Year in April

Home Prices Rose 12% Year-over-Year in April: Case Shiller

     Home prices set a record monthly rise in April as more buyers chased fewer homes.

The widely-followed Case Shiller 20-City Home Price Index rose 1.7% in April on a monthly adjusted basis, beating consensus expectations for a 1.5% gain. On a non-seasonally adjusted basis, the index rose 2.5%. Year-over-year, the 20-City Composite jumped 12.1%, the largest year-over-year gain in seven years.
The index has reported positive year-over-year gains for the past four months. The 20-City Composite reported a monthly adjusted gain of 1.4% in March and a 12-month gain of 10.9%.
Atlanta, Las Vegas, Phoenix and San Francisco posted year-over-year gains of over 20% in April, with San Francisco reporting the highest gain at 23.9%. Phoenix has posted 12 consecutive months of double-digit gains.
While the strongest gains are being recorded in the cities most hurt by the housing bust, it is worth noting that home prices in Texas and Colorado are now at new highs.
Average home prices are now back at early 2004 levels, though the index is still about 25% below 2006 peak levels.
The strong housing report comes at a time when doubts have resurfaced about the sustainability of the housing recovery. Interest rates have rapidly risen from their lows -- the 30-year fixed mortgage rate is currently at 4.50%, up from 4.11% a week ago --, raising concerns it will hurt affordability.
But David Blitzer of S&P believes those concerns might be overdone.
"Home buyers have survived rising mortgage rates in the past, often by shifting from fixed rate to adjustable rate loans," he said in a statement. " In the housing boom, bust and recovery, banks' credit quality standards were more important than the level of mortgage rates. The most recent Fed Senior Loan Officer Opinion Survey shows that some banks are easing credit restrictions. Given this, the recovery should continue."

Thursday, June 27, 2013

Grass Valley and Nevada City Homes and Land Picks of the Week

Grass Valley and Nevada City Homes and Land Picks of the Week

Comfortable, clean single story home, walking distance to Western Gateway Park and minutes to Penn Valley town. Great horse property with fenced area for garden. located in friendly agricultural neighborhood. Cheerful and bright home with detached garage with shop area and two additional out buildings. Year round natural stream adds serenity to this privately positioned home. Bring your horses and move in tomorrow! Home is being sold in as in condition. Priced to sell

Wonderful Parcel, Very Close To Downtown Nevada City. Level And Easy To Build On. 14 Gpm Well, Perc And Mantle Done In 2005. Great Neighborhood With Many Beautiful Homes Nearby. This Is A Rare Find This Close To Downtown Nevada City! Don't Miss Out!

Short Sale - Single story home on two useable acres. Quiet street. Large living room shares a double-sided fireplace with the kitchen. Shaded deck in rear of home. On the property is a dirt bike track. Plenty of room to park your RV or boat. Would make a nice horse property.

Short Sale - Gorgeous Home, Filled With Lots Of Color And Light Throughout. Spectacular View Off The Back Deck Will Take Your Breath Away! Lots Of Room To Roam, Home Sits On 5.63 Beautiful Acres. Even Includes Lots Of Storage Under House. This Is Wonderful Place To Call Home!

 Rare upscale parcel to build your dream nestled among majestic oaks and stoic pines!! Nice, gently sloping parcel located just off Magnolia in prestigious area near Dark horse Golf Course. Multiple potential building sites available with producing well and perc test. Enjoy serenity and peace, yet still close to town!

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