Housing Affordability Soars to Record High | Realtor Magazine

Nationwide, housing affordability is now at Record Highs.  In the South Bay, our market has really heated up, having stabilized last year.  YOU WON'T READ THAT IN THE NEWSPAPERS, because good news doesn't sell newspapers.  Better to look at the actual facts, which you can find continually updated in the "South Bay Market Data" tab at the Beach City Digs blog!  Or give me a call for the straight scoop in the Beach Cities.

A few teasers: 35% of our current sales are ALL CASH (these are smart buyers who know what they are doing).  And about the same percentage are multiple offer situations.  All of this going on while interest rates are at 50-year lows.- David

P.S.  Know of someone who needs to buy or sell a home in the South Bay?  Give me a call with their name and number and I'll take great care of them (yep, that was a shameless plug). -D

Cash Buyers on the Move

We are definitely seeing this effect in the South Bay.

Cash Buyers Boost Battered Housing Markets - WSJ.com

Those who stored cash are purchasing real estate in the highest price ranges, but also at more moderate levels - - sometimes as investments.  Many of the Strand and Hill Section (Manhattan Beach) sales have been all cash in recent months, and those aren't on sale! - David