- One indicator of whether a local housing market is improving is the inventory level of homes for sale. REALTORS® can provide this information and tell home buyers and sellers how many months it would take at the current sales rate to absorb that supply. California’s long-run average of unsold inventory is 7.2 months. In October, the unsold inventory level stood at 4 months.
- Homeowners who lose their homes to foreclosure should wait three to five years before trying to qualify for a home mortgage insured by the government, depending on the borrower’s circumstances, and assuming they have re-established a record of paying bills on time. Foreclosures can remain on credit reports for up to seven years, likely increasing the interest rates the consumer pays, and making it more difficult to receive approval on a new mortgage loan.
If you would like to get loan information from recommended banks, or get started and view all homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO's) or thinking of selling your property, Please feel free to contact me today for free counseling at (619) 301-0200 visit our website, click CountyProperties.net
By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.