As a market observer and an advocate of market timing, I have been scanning the headlines for evidence of the appearance of "green shoots" in the San Luis Obispo real estate market. Sometimes I have to broaden my scan to the state and national scene. I came across an excellent article posted on a well written blog DR. Housing Bubble. In the article the author points out that the average monthly new mortgage payment is $983. This is the lowest amount since 1999! Most of my loyal blog readers know that one of my main points that we are seeing the housing market pick up is that homes are now affordable again, and even less than rent, especially if one figures in the tax savings from the mortgage interest and property tax income tax deductions.
Visit my we site to view homes available in San Luis Obispo real estate market- www.myslohomefinder.com
I have attached the below chart to show what has happened with the average monthly mortgage rate for Southern California. (Thank you Dr. Housing Boom for the chart). If you would like to read more about this point go to http://www.doctorhousingbubble.com/983-mortgage-payment-in-southern-california-real-estate-mortgage-payment-back-to-1999-short-sales/