11% of the La Canada real estate market consisted of short sales and foreclosures

Interest rates are at historic lows, they are crazy low. Interest rates will increase they always do. Remember that for every 1% increase in mortgage interest rates, you will need about a 10% drop in property values to afford the same monthly payment.



9, La Canada homes were reported sold in November, the lowest number for the year. This is typical of La Canada’s school year driven market (most everyone wanting to be settled by the beginning of the school year). The absorption rate indicates a fairly strong buyer’s market, but for those La Canada buyers out there looking for their dream home, it can seem that choices are limited.

 

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