Offers Above The Asking Price

April 22, 2014 By Dario

How Often Were Homes Sold For More Than The Asking Price?

2005 About 38%

2006 About 12%

2007 About 11%

2008 About 10%

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2009 About 21%

2010 About 28%

2011 About 18%

2012 About 26%

2013 saw an all-time high of 50%! That’s the highest ever recorded.

Source: CAR 2013 Annual Housing Market Survey

How Did Home Sellers Handle Multiple Offers

April 8, 2014 By Dario

In 2013, 98% of sellers received multiple offers.

Average number of offers received from buyers:

In 2012: 3.1
In 2013: 5.9

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How Did Sellers respond?

77% Took the highest offer.
47% Took the best mortgage-qualified buyer.
39% Took the offer without contingencies.
23% took the all-cash offer.
14% Took the offer because of the buyer’s ability to close the fastest.

Source: CAR 2013 Home Seller Survey

The Water Crisis

March 25, 2014 By Dario

Where Are We Wasting?

A typical three-bedroom, single-family home in California uses approximately 174,000 gallons a year.

Where do families use the most water?

Shower: 17%
Kitchen and bathroom faucets: 9%
Toilets: 4%
Clothes washer: 4%
Landscaping: 57%
Overwatering: 9%

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Water-Saving Solutions

Low-flow Toilet, Cost: $60-$200 saves 6.4 gallons per flush
Faucet Aerators, Cost: $2 saves 1.5 gallons per minute
Low-flow shower head, Cost $10-$40 saves 2.5-3.5 gallons per minute

Important Water-Saving Legislation

By January 1, 2017, all residential properties in California that were built prior to 1994 will be required to retrofit with:

Toilets that use no more than 1.6 gallons per flush
Shower heads with flow rates of no more than 2.5 gallons per minute
Other interior fixtures that use less than 2.2 gallons of water per minute

Source: California Homebuilding Foundation

What Do You Want In A Neighborhood

March 11, 2014 By Dario

There are several things that are important to home buyers when selecting their neighborhood.

68% Easy access to the highway.

65% Public transportation within walking distance of your home.

66% Established neighborhood with older homes and mature trees.

65% Short commute to work.

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86% Privacy from neighbors.

74% High-quality public schools.

55% Living in a place that’s away from it all.

69% Walking distance to places such as schools and shops.

80% Sidewalks and places to take walks.

66% Living in a community with people at all stages of life.

Source: NAR’s National Community Preference Survey

California’s Home Financing Trends

February 25, 2014 By Dario

In 2013, the majority of California home buyers obtained 30-Year, fixed rate loans.

The average down payment was 25%
Buyers who had no problems with their appraisal 83%
Buyers who obtained a 30-year loan 85%
Buyer who obtained a fixed-rate loan 91%
91 % of California home buyers financed their home in 2013

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Source: CAR’s 2013 Home Buyer Survey

Kali Real Estate is Now a Certified Movoto Agent

February 13, 2014 By Dario

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