Based on Corelogic Report Released May 1st 2018
For the seventh year in a row local housing is showing no sign of slowing down reported real estate data company Corelogic this week.
What was most impressive was CoreLogic’s Home Price Index shows prices for existing single-family homes in L.A. County jumped 8.8 percent in the 12 months ending in March, the biggest year-over-year gain since the fall of 2014.
8Not far behind Riverside and San Bernardino counties, prices were up 8.3 percent in March, also the biggest gain since late 2018
Orange County prices were up 6 percent from the year before, the CoreLogic HPI showed. That’s almost equal to the pace of price gains for the past six months, but well above the March appreciation rates for the previous three years. Orange County, Los Angeles, Riverside and San Bernadino continue to show promise and surrounding areas continue to go up in value faster than many would expect.
Ladera Ranch Home Loans is an expert in California lending and understands the California market which is unlike any other state. Our state of the art technology allows us to have the most recent data at our finger tips including even pending sales. While some lenders will robotically process your application and simply fill in a box to estimate your value, we believe doing some research up front to understand your specific property and area first. Then we are able to use our compiled data, that is the same information an appraise may have access to, to help determine your homes value. Many borrowers we speak with including Veterans are surprised to hear how much their Southern California Home has appreciated in the last 24 months. Some had even refinanced 6 months ago and seen an additional 10-20% gain since then. We encourage you to allow a Ladera Ranch Home Loans representative to provide you with a detailed comparable analysis at no cost or obligation. This will help you understand your own home and current landscape of your areas market.
2018 is continuing to be a great year for the homeowner both in our entire state and nationally. Some previous reports showed sales lagging-largely due to a shortage of homes in the marketplace, price gains this year are out pacing the previous several years. If you would like to learn more about your homes value or explore opportunities on how to consolidate debt or lower your rate using your homes equity, contact us today.