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Vicki Moore About Vicki Moore

RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

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  1. Lurker Lou says:

    There are many variables that dictate the Average Sales Price for a certain time period. Some of these are Interest Rate, Family Income, value of the dollar, size of the home, supply versus demand, etc… For example, median homes built in the sixty are smaller in square footage than those built in the eighties, etc… Inflation also cause home price to increase over time. And ultimately, lenders limit on thirty percents of annuall income toward a mortgage in combination with the cost of interest rate is a big force for a ceiling on home price. After all, for most families the most you can pay for a home is how much the bank is willing to lend you, base on your income limit and cost of interest. If interest cost is low, you can borrow more and you will pay more for the same house. If you don’t the next guy will and he will end up with the house. If interest cost is high, your loan amount will be lower and so is that of the next guy. So with higher interest cost people can borrow less and unfortunately afford to pay less for the same house. This is an example of a median income family purchasing a median range home for example purposes.

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