All the numbers are officially in to finish off 2016.  For the month of Dec we had an average price of $567,679 which put us at an 8.4% increase From Jan-Dec 2016.  Let’s take it one step further.  If we look back 4 years, for the entire span of this graph we see amazing numbers. If you bought a home in Jan of 2013 and sold it in Dec 2017, you would have an increase of almost 33% on your initial investment!  Isn’t that amazing?  Average sales prices in Jan of 2013 were $380,728 compared to $567,679 just last month.  That shows us that we have been in a very strong real estate market.

So what’s in store for us this year?  Keep in mind that all loans now are, for the most part FULL DOCUMENTATION.  That means that every person that has bought a home really qualifies for the home they are purchasing.  Stated and NO DOC loans are pretty much out of the picture.   They still do exist but in order to obtain them one usually has to go through the Hard Money Channel.  It is for that reason that chances are we won’t experience a massive sudden decline as we did in times past (2007-2008).  Additionally, interest rates are still extremely low and have actually dipped a little lower for a 30 year fixed loan in the last week.  For most up to date interest rates click here (https://motherandsonrealestate.com/loan/).

We’re always available for you and your family for any real estate needs you may have.  We keep on top of the local market trends and can guide you in the right direction if you’re looking to buy or sell in Downey and surrounding areas…