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Brea Mortgage | Market Update – January 2017

Brea Mortgage | Market Update – January 2017

January 30, 2017
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As the new year begins, it is common to make a list of goals for the year to come. Is purchasing a home at the top of your list? If so, as a Brea mortgage loan originator, I have some important information for you.

Throughout my experience in the mortgage industry, I have learned the value of being prepared. In order to help my clients find the best mortgage products to fit their needs, I must be knowledgeable not only about their specific situation but about the mortgage options available to them.

When securing financing for my clients, it is also important to take the local and national markets into account, as these do have an effect on Brea mortgage rates and home prices.

I believe in helping my clients through every step of the mortgage process, and that involves updating them on the local market. The more information you have, the easier your decisions will be when it comes to financing your dream home.

Throughout California, the median selling price for single-family homes rose 1.5% month to month from November to December in 2016. This increase is slightly larger than the 1.4% increase in median selling price seen in Orange County.

Brea also ended the year on a better note in terms of the number of homes sold. The state of California saw a 7% decrease in sales from the month of November to the month of December in 2016, while Orange County actually saw an increase in sales volume of about 1.8%.

According to the California Association of Realtors, the median sales price for homes in Orange County was listed at $745,000 in December of 2016. This statistic is up 1.4% from $734,000 in November of 2016 and 6.4% from $700,000 in December of 2015.

A well-known national website recorded the median price per square foot of homes in Brea as $355 in December of 2016. This price has risen steadily from the median price of $305 in 2014.

As the new year and your hunt for your dream home begin, set up a consultation with a Brea mortgage professional, like me. I can help you narrow down your search by helping you better understand the Brea mortgage industry and securing your home financing today! Call 949-335-5555 to set up your FREE mortgage consultation!

Source: http://www.realtor.com/local/Brea_CA

Source: http://www.car.org/marketdata/data/countysalesactivity/

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  • American Financial Network, Inc. is licensed by the California Department of Business Oversight under the Finance Lenders Law License (6038771) and holds a CA Bureau of Real Estate, Real Estate Broker’s License (01317581) under Nationwide Mortgage Licensing System (NMLS), unique identifier of 237341. Broker is performing acts for which a license is required. Refer to www.nmlsconsumeraccess.org and input NMLS #237341 to see where AFN is a licensed lender. In all states, the principal licensed office of American Financial Network, Inc. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (714) 831-4000 (NMLS ID#237341). This is not an offer for extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. The content in this advertisement is for informational purposes only.