La Quinta, California

La Quinta, California
Desert Luxury

Desert Luxury Realty

Thank you for visiting my blog. When you choose Mary Williams, as your real estate agent, you are working with a team of seasoned professionals who cater to your every real estate need. Buying or Selling your home does not need to be full of hassels or needless pressure. Take it easy and enjoy the luxury of the desert. I look forward to assisting you with your search or sell of your home. Contact me today!

Wednesday, April 2, 2014

Financing Trends in California

california home financing trendsCalifornia Association of REALTORS®

From the National Association of REALTORS® PROFILE OF HOME BUYERS AND SELLERS 2013

Home Purchase Financing

  • 80% of home buyers financed their recent home purchase. Among those who financed their home purchase, buyers typically financed 90%.
  • The share of first-time buyers who financed their home purchase was 95% compared to 86% of repeat buyers.
  • More than 50% of home buyers reported they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing.
  • 24% of buyers reported the mortgage application and approval process was somewhat more difficult than expected and 16% reported it was much more difficult than expected.
  • 12% of buyers overall cited saving for a downpayment was difficult. 43 % of buyers reported student loans, 38 % reported credit card debt, and 31% car loans as the reason for the difficulty.

Jumbo Loans are another Financing Option in the Desert Area

  • Lenders are eager to comply with the Luxury Homebuyers when it comes to underwriting Jumbo loans. According to Inman News, Jumbo loan rates and terms have relaxed over the last 12 months to the point, they are very competitive to the interest rates for conventional loans. Lenders seem to be more confident about home prices.
Even though we’re getting late in the Season, NOW is still a great time to purchase in the Desert and there are great homes on the market right NOW! Contact me today!!

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