Top 10 California Real Estate trends in 2005

Here is a list of the top 10 California Real Estate trends in 2005 which I found while in my practice as the Christian Southern California Real Estate Agent.

1. California land for sale has brought development. Empty space is disappearing. As a consequence Calfornia land for development within major urban areas is getting harder to find.

2. CA real estate has put a greater strain on individual household budgets. The California Housing affordability index remained low at around 15% in 2005.

3. People are living in smaller and smaller spaces like California condos instead of homes. As more people continue to come to California than leave each year the areas we live in decreased in size.

4. More risky interest only loans are being issued. In 2005 a surplus of interest only loans were requested to pay for the rising house values.

5. California homes have become family savings accounts. The immediate equity increases have given many families a safeguard against the other heavy economic cost increases in oil and health insurance.

6. More foreigners want to buy California real estate based on decreased us dollar values in international currency markets. As the Euro rises against the dollar it becomes more affordable to buy from out of the country.

7. Interest rates have climbed slightly from all time lows. We had low interest rates in the 6% range and saw a climb of only 1%.

8. The big contractors have gotten even bigger as more new California homes are built. The large contractors are consolidating into global firms.

9. Instead of wanting to sell California homes owners are putting their equity back in more California real estate investments.

10. There is a greater consumer demand for California real estate information.

Did you know in addition to California residential homes I can help you find land for sale in California, California mobile homes for sale and California commercial property for sale as well?