How much are property values rising in your area? I'm hearing insane increases!!

How much are property values rising in your area?  I'm hearing insane increases!!

I recently shared a Facebook post about the high level of activity in many parts of Los Angeles, that is causing a rapid increase in property values.  I shared that over the past 12 months, property values on average had went up 12-13% in Los Angeles.  They are projected to rise another 10-12% in the next 12 months also.  Low inventory levels and low interest rates are supporting these gains.

One of my fellow ActiveRain members shared that he has seen 13-17% gains PER MONTH for consecutive months in some of his areas!!

He had stated his concern for such rapid gains causing a collapse, and/or homeowners possibly mis-appropriating use of their equity and/or lines of credit, but I tend to disagree because lender guidelines have changed so much to be sure that people can actually afford their loan prior to funding it (hopefully!).

What are some of the property value increases you are seeing in your areas?

 

Comment balloon 20 commentsRalph Gorgoglione • February 27 2013 07:48AM
How much are property values rising in your area? I'm hearing insane…
share
How much are property values rising in your area? I'm hearing insane increases!! I recently shared a Facebook post about the high level of activity in many parts of Los Angeles, that is causing a rapid increase in property values. I shared… more
Appraisal Value vs. Inherent Value - Know the difference in this new…
share
Appraisal Value vs. Inherent Value - Know the difference in this new market We are officially in a different market now. Gone are the days of the buyer's market where buying a home was like shooting fish out of a barrel. "How much… more
405 Freeway Expansion gets a little "nudge" from some…
share
405 Freeway Expansion gets a little "nudge" from some locals… The expansion project of the 405 Fwy costing some $1 Billion plus, just got a little "hurry up! " from a local Westwood-based citizens group called Angelenos… more
FHA and VA Allowable and Non-Allowable Fees: Close your transactions…
share
FHA and VA Allowable and Non-Allowable Fees: Close your transactions more smoothly by knowing these in advance FHA Loans and VA Loans have their own set of lender guidlines for real estate transactions. A good real estate agent will not only… more