The reasons are many: mortgage loan interest rates are on average below 4% add will probably remain low for the next period of time. There are thousands of programs that assist buyers with down payment cash: about 2300 of them. Buyers should include looking into them in their counties. The housing market has stabilized in most areas; and home prices continue to rise.

The inventory of available homes continues to be low, according to Daily Real Estate News, and new homes haven’t filled the gap. The national median price of existing single-home price was $208,700, up 6% over last year. In metro markets that were tracked, 86% of median existing single family home prices rose was up 6% over year at $208,700. Another factor is the job market continuing to strengthen Unless new homes come on the market this pressure on home prices should continue upward.

The most expensive housing markets in the last quarter were, according to median existing single-family home price:

San Jose, Calif. metro: $855,000
San Francisco: $742,900
Honolulu: $701,300
Anaheim-Santa Ana, Calif.: $688,500
San Diego: $493,100

It’s no surprise that confidence among realtors has increased. They expect a favorable housing market, as they look at these factors. For single-family home sales the states that have the best outlook are: Texas, Colorado, and North Dakota.

Even households that aren’t first-time buyers are encouraged to look into down payment assistance programs. Reports indicate that 87% of households are eligible: about 68 million condo and single-family households. Looking for such down payment aid should be part of every home buyer as part of pre-qualifying for a mortgage loan. Some programs report aid that reducing a $20,000 to $200. The average assistance is $11,565.

Other news:

Foreclosures and mortgage payment delinquencies are not down to the pre-crisis levels.
The domino effect suggest that the slowing in sales of luxury homes allows households waiting to buy up will have a chance to do so. As a result, there will be more openings on lower tiers for first-time buyers.
Investor activity in the lower tiers has decreased.
Freddie Mac reports that 80% of housing markets are stabilizing.

At the end of the week, 2/26/2015, these were the rates reported according to Freddie Mac for the Western region of the country.

• 30-yr. fixed: 3.76% fees/points: 0.7%
• 15-yr. fixed: 3.02% fees/points: 0.6%
• 1-yr. adjustable: 2.18% Fees/points: 0.7%

Most of the information above was gleaned from Daily Real Estate News. If you are considering a home purchase in Napa County, contact Judy Naimo at (707) 266-8211. Read her recommendations at http://JudyNaimo.com.
About Us:

As an agent since 1981 and a broker since 1985, Judy has come to see the importance of reducing the chaos and confusion created in most real estate transactions. As a licensed real estate broker, she concentrates on developing a strategy that suits each client individually.

Judy entered the real estate business in 1983, at a time where interest rates were at an all time high and most properties were on the market for months or even years. Because of this she is exceptionally focused on making sure that each client’s real estate transactions are analyzed as the investment they truly are.
Judy’s perspective is that real estate should fit the client’s long term goals and that a planning session in the beginning can save time, money and taxes.

Prior to becoming a Real Estate Agent in 1981, Judy studied to become an interpreter for the deaf. From 1975 to 1981 Judy worked for the County of Napa as an adult education teacher on the Napa Valley College Campus, at Napa State Hospital, and at the Napa County Jail tutoring GED.

Judy has earned her Certified Residential Specialist designation and is also in the ranks of the elite Graduates of the Realtor Institute. She is also a board member of the North Bay Housing Coalition, a volunteer organization dedicated to providing independent and supported living housing to individuals with developmental disabilities. Judy is also an ordained minister in Great Western Brotherhood.