Here in beautiful Lake Nacimiento we know that home ownership is about a quality of life. Living on Lake Nacimiento means great recreational opportunities for the avid fisherman, weekend boater, aspiring water-skier or anyone who enjoys relaxing around the water! Demand for homes around Lake Nacimiento is good and expected to strengthen.
On a national level, real estate activity still has a way to go, and too often the media dwells on the negative. You might be well-prepared to buy a home, but find yourself getting talked out of it by an economist in Boston. Let me share four trends that support the real estate market in California and how it may affect us.
1.International buyers. Foreign investments in U.S. real estate have been steady for the past five years and are continuing to rise. 12% of California property purchases are made by buyers from outside of the U.S. California is only second to Florida in this regard. These buyers often seek recreational properties and homes that can be used for rental purposes.
2.Cash buyers. The tightening of mortgage lending hasn’t dried up the housing market. Cash transactions in April 2011 accounted for 31% of the market, with California leading the trend.
3.Top markets. In Realtor.com’s recent Top 10 market report, 5 California cities made the list, including Bakersfield, Fresno, and San Jose. Lake Nacimiento is about 2 and ½ hours from Bakersfield and Fresno; about 2 hours and 40 minutes from San Jose. If a rising tide lifts all boats, we should enjoy a ripple effect.
4.Fewer defaults and foreclosures. The Mortgage Bankers Association states that mortgage defaults have dropped for five straight quarters, and are now at their lowest levels since early 2009. As mentioned in my prior blog, Foreclosure filings in California fell to lows not seen since the fall of 2008. Notice of Default filings in California dropped 25.8%.
As your Lake Nacimineto Real Estate agent, I stay on top of the news that matters to Lake Nacimiento buyers and sellers. I’m proud to be a part of our community, and I enjoy sharing our beautiful lake with friends, visitors, and home buyers!
If you have questions about the real estate market, or would like more information about homes that are currently available on Lake Nacimiento, feel welcome to contact me! We have wonderful homes in the Oak Shores and Heritage Ranch communities that I’d love to show you.
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty
Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.
Please let us know how we can help!