KCBA - Monterey, Salinas, Santa Cruz - News Weather-Home Sales In Monterey County Up 22%
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MONTEREY COUNTY, Calif.-Rozina Horta is searching for a four bedroom dream house in Salinas. " We have been saving for about a year or so and we want to take advantage of the prices out there,"said Horta.
According to the President of the Monterey County Association of Realtors sales went up 22 percent in October from September. Sales are improving particularly areas like north Salinas, seaside and marina because buyers can find homes with a price tag of about $400,000." Its very competitive and there's a lot of investors coming into those markets so it can make it a little more challenging for first time home buyers," said Kim Dibenedetto.
There's less houses on the market than last year that is why home prices have gone up.This month home prices have gone up 8%. The average house price in the county according to Dibenedetto is $403,000dollars. " The demand is certainly there with all the government incentives and the interest rates been the way they are at a historic low,"said Dibenedetto.
And that's why Rozina wants to buy a house soon,before the price goes up. " We are seeing a lot of nice houses out there some that we hope to make an offer one day," said Horta.
The first time home buyer tax credit was supposed to end November 20th. But since it has given a boost to the housing market, the government is extending it to April 2010.
