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Miracle Hill Realty

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Desert Hot Springs Home Shortage

Desert Hot Springs has a shortage of houses to meet demand. Even though 55 houses were sold in August at an average sale price of $170,038, the average sale price has increased because fewer houses are for sale.

This trend of rising prices and fewer houses reflects a trend all over America. The first half Continue reading “Desert Hot Springs Home Shortage”

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California’s High Housing Costs: Causes and Consequences

HOW EXPENSIVE IS HOUSING IN CALIFORNIA?

  1. Average price of a house in CA is $440,000 compared with the national average of $180,000.
  2. Monthly payments on the average house is $2,314
  3. You need to earn $92,500 per year to pay for an average house.
  4. In the Coachella valley, average price is $160,000 with payments of $889 you need an income of $52,000 per year.

 

WHAT’S THE PROBLEM?

  • Not enough houses
  • The banks won’t loan money
  • Payments are too high
  • CEQA law is a barrier to building
  • Building costs are too high
  • Because interest rates are low, investors don’t invest.

Continue reading “California’s High Housing Costs: Causes and Consequences”

California’s High Housing Costs: Causes and Consequences

 

HOW EXPENSIVE IS HOUSING IN CALIFORNIA?

Average price of a house in CA is $440,000 compared with the national average of $180,000. Continue reading “California’s High Housing Costs: Causes and Consequences”

15 Qualities that Determine Value in Real Estate

Whether you are investing in a commercial property or buying a house, it pays to know what creates value in the city where you are buying.   Continue reading “15 Qualities that Determine Value in Real Estate”

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