Okay kids here's a few frightening facts:
Calif. median home price - October 07: $497,110(Source: C.A.R.)
Calif. highest median home price by C.A.R. region October 07: Santa Barbara So. Coast $1,325,000(Source: C.A.R.)
Calif. lowest median home price by C.A.R. region October 07: High Desert $265,880(Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Second Quarter 07: 24 percent (Source: C.A.R.)
Mortgage rates - week ending 11/21: 30-yr. fixed: 6.20%; Fees/points: 0.5% 15-yr. fixed: 5.83%; Fees/points: 0.5% 1-yr. adjustable: 5.42%; Fees/points: 0.6% (Source: Freddie Mac)
Makes ya think a little doesn't it? But here's the real facts, it's a great time to buy a house, a gret time to look at getting a bargan on a short sale.
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