California Housing Market on the Rise!

If you have been considering buying a home in the beautiful gated community of Oak Shores on Lake Nacimiento, now is the time!  Mortgage rates are still relatively low and there are many homes in Oak Shores that are perfectly priced!  Because the housing market in California is seeing growing home prices, this may be your best opportunity to buy your dream home on Lake Nacimiento before prices rise.

According to a recent article by CNN Money much of the nations real estate market is still shaky at best, yet in California, stability is being seen.  The article goes on to say that:

“Home prices are rising in virtually every corner of the state. They’ve climbed for nine consecutive months, and in July posted a 10.4% gain year-over-year. That puts the state’s median price at $315,000 — nearly twice the national median of $183,000. And the news is even better in coastal cities.

San Francisco posted the biggest gain of any U.S. metro over the past year, rising 14.3%. The median price there is now more than $607,000. Meanwhile, San Diego has climbed 11.2% (median price: $389,000) and Los Angeles jumped 9.2% (median price: $345,000).”

When asked about where Califorinia is finding the strength to recover, Lesley Appleton-Young, the chief economist for the California Association of Realtor’s answered, “I think it comes from the fact that prices went down so far and so quick. That left a lot of people here saying, ‘Wow, affordable California housing.'”  It seems that the California economy is picking up as it has remained one of the world’s 10 largest economies, even in a recession, due to the fact that it’s home to major industries such as aerospace, agriculture, tourism, software and other lead industries.

Another weighty factor in the rise in home prices is the swell of short sales.  Since underwater homes are not going all the way into foreclosure.  “The shift to short sales in itself would increase home prices,” added professor at San Diego State University, Mark Goldman.  Short sales are also left in better condition than foreclosures since their sellers typically still reside in the home until it is sold, maintaining the integrity of the property.

The bottom line?  Don’t miss out on the still low priced homes that are currently on the market!  Now is a great time to buy in Oak Shores, and I would be happy to help you each step of the way.  Please contact me with any questions you may have about buying a home on Lake Nacimiento!  I look forward to hearing from you!

Grace Borzini
Your Oak Shores Real Estate Expert
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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.

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