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Downey End Of Summer Activities

by Southern Californias Top Producing Mother & Son Te

Farmers Market
Every
Saturday. 2nd Street at New Street
in downtown Downey. 9:00 AM.
farmersmarket@downeyca.org
City Hall: 562-904-7284

Movie Night @ the Library
Downtown City Library, Cormack Room
5:30 to 7:30 PM
Free Admission. Over 17 need a permission slip.
562-904-7360 x132

Columbia Memorial Space Center
12400 Columbia Way
Downey, CA 90242
(562) 231-1200
Hours: Tues—Sun 10 am to 5 pm
Great for kids

30 Year Fixed Rates at their lowest in 5 Years

by Southern Californias Top Producing Mother & Son Te

If you know us well, you know that we always like to analyze data and graphs to try and give you the most accurate information available for Downey and surrounding area real estate.  Well here’s another comparison that shows just how great of a real estate market we are in right now…    Both graphs above track the 30 year fixed average for California.  The graph to your left tracks the 30 year fixed average 5 years ago to date and is showing interest rates for California to be at 6.15%.  Now if you look at the graph to your right, you see a graph tracking the 30 year fixed average interest rate back 6 months with and showing a current average 30 year fixed interest rate of 3.55%. 

So all in all, we are almost 3% lower now than we were 5 years ago when the market was “HOT.”  Granted guidelines are a little stricter now than they were before 5 years ago but the numbers don’t lie.  You can easily have a mortgage payment that is equal if not less than the cost to rent a similar dwelling place.  Give us a call for more questions.  Also if you want to see this concept of having a lower mortgage payment than rental payment check out this video we made not too long ago…

 

Uptrend in home values in the making?

by Chris Gonzales

August 2012 Real Estate Report

As expected from last month’s boom in home sales values, July also pushed the upper limits in home values as compared to previous months. In last month’s news letter we proposed that the increase in values of June may be the beginning of a gradual uptrend in real estate in Downey and surrounding areas. Let’s review the graph above to get the highlights of what has taken place since the beginning of 2012….

In January according to SoCal MLS reports, the average sales price in Downey and surrounding areas was $290,139. That is the lowest value that we have seen since the “Bubble” burst. Looking at real estate home values long term, and taking into consideration some characteristics of graph movements we can see a potential low point or, a “bounce” off of the $290,139 price. You can almost look at it as a bottoming out. We obviously would need to wait a little longer to be certain of this bottoming out that we are describing but this very well could be taking place.

Now if what we described proves to be true. NOW is the time to make a move on real estate. It seems that we have hit a bottom this past January and looking at the way the graph trend, it seems to be moving in an upward fashion. You you’re a buyer, you definitely don’t want to wait to see the market go higher before you buy. We have quite a few Listings in our inventory that are going to hit the market really soon. They’ll be up on our properties page if they are not already. Click on this link to be taken straight to our listings page (www.Mother-SonTeam.com/Properties) and let us know if you are interested in any of our Listings.

Graph above is based on MLS data for the following cities: Bell, Bellflower, Bell Gardens, Cerritos, Downey, La Mirada, La Habra, Long Beach, Lakewood, Montebello, Norwalk, Paramount, Pico Rivera, Santa Fe Springs, South Gate, and Whittier.

 

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Contact Information

Photo of The Mother & Son Team - Maria Palacios & Chris Gon Real Estate
The Mother & Son Team - Maria Palacios & Chris Gon
Berkshire Hathaway HomeServices, California Properties
16911 Bellflower Blvd
Bellflower CA 90706
(877) 883-1003
Fax: 562-381-9113