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National Real Estate: Down Payments are Getting Bigger........


Inventory continues to remain tight in California and it sounds like buyers are bringing more money to the table make their deal happen. Competition is strong and sellers are at an advantage. Multiple offers, prices above asking and no contingency requirements are fairly common now a days. It makes it difficult for those that don't have a lot of room to negotiate. Check out the following down payment levels:

Among 143 metro areas analyzed, the top five cities where residents paid the highest down payments in the fourth quarter of 2017 were in California:

  • San Jose, Calif.: $268,000

  • San Francisco: $174,500

  • Santa Rosa, Calif.: $123,450

  • Los Angeles: $119,800

  • Ventura, Calif.: $107,000

The share of loans backed by the Federal Housing Administration dropped to a three-year low, according to ATTOM Data Solutions. FHA loans accounted for 12 percent of all residential property loans originated in the fourth quarter of 2017, down from 12.3 percent a year ago and the lowest share since the fourth quarter of 2014.

Residential loans backed by the U.S. Department of Veterans Affairs comprised 6.6 percent of all residential property loans originated in the fourth quarter of 2017, down from 7.6 percent a year ago.

Source:ATTOM Data Solutions

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Sotheby's International Realty
3775 Via Nona Marie Suite 100, Carmel CA 93923
831-624-9700

License: DRE#01966114

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Debora Sanders is a real estate salesperson licensed by the state of California affiliated with Sotheby's International Realty. Sotheby's International Realty is a real estate broker licensed by the state of California and abides by equal housing opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting, or other professional advice outside the realm of real estate brokerage.

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