Affordability constraints, low inventory played roles
California home sales eased slightly in May as a shortage of homes and housing affordability concerns held back would-be home buyers, the California Association of Realtors (C.A.R.) announced on Tuesday. Meanwhile, the median home price posted higher from both the previous month and year for the third consecutive month and remained at its highest level since December 2007.
Ship captain James D. Farwell arrived in San Francisco in the spring of 1850. He had safely captained the steamboat Tehama from Panama. Farwell, who hailed from Maine, opened a chandlery on Clay Street in San Francisco. As a chandler he supplied the ships in port with their wares.
Freddie Mac’s June 5 Primary Mortgage Market Survey showed that the average fixed mortgage rates rose 2 basis points to 4.14 percent last week. This marked the first time in five weeks that rates have not fallen. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.91 percent.
The 15-year fixed-rate mortgage also rose, averaging 3.23 percent, up 2 basis points from May 29, when it averaged 3.21 percent. A year ago at this time, the 15-year ficed-rate mortgage averaged 3.03 percent.
305 Harbor Light Road
Offered at $925,000
Open Sunday (June 15, 2014) 2-4PM
This beautiful shoreline beach area home has been well maintained and ready for you to move in. The large home has more than 2,300 square feet of living area, total of 4 bedrooms and 3 bathrooms.
This includes a large upstairs master bedroom addition built in 1985, with walk-in closet and master bath. Also a large family/living area upstairs allows for sweeping views from the bay to the Oakland hills from a second-story deck built off the upper addition.