Wednesday, July 9, 2008

Great News for Buyers as Entry Level Housing Affordability Rises!

The percentage of households that could afford to buy an entry-level home in California is up at 44 percent in the first quarter of 2008, compared with 26 percent for the same period a year ago, according to the CALIFORNIA ASSOCIATION OF REALTORS®. This is great news for move up buyers as well as first time buyers looking to take advantage of the low interest rates.

First-time buyers typically purchase a home equal to 85 percent of the prevailing median price. The monthly payment including taxes and insurance was $2,260for the first quarter of 2008. The minimum income required with 10 % down would be approx. $67,000.

Interest rates are low, inventory is high and it is a great time to get into the market and start to increase your personal wealth.

For detailed information you can view the article in it's entirity at the C.A.R. website.

Considering Moving to the East Bay? ~ Do you want to Buy or Sell a home?
Do you have clients with needs in the East Bay?

Please give me a call if you have questions about the East Bay Real Estate market.
I can be reached at 925 824-4878 or Toll Free 877 876-8889 or you can visit my website at

No comments: