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Aug 14

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5 Reasons Californians Purchased Homes in 2013

The California Association of Realtors (C.A.R.) released the results of their 2013 Home Buyer Survey, which highlights why Californian’s purchased homes this year.  The following are the reasons and related percentages reported:

38% – Price reductions

12% – Favorable prices and/or financing

10% – Desired a new or better location

9% – Investment or tax advantages

7% – Tired of renting

Half of Californians who purchased homes did so because of lower prices and favorable financing. The other reasons may in some cases rely upon the first two conditions as precedent.  More recently real estate prices have been rising and rates have moved higher from their historic lows.  This could reasonably lead to some pull-back in California in the near future.

About the author

Anand Khemlani

I am a founding member of Fulcrum Inquiry, an accounting and economic consulting firm that performs damage analysis for commercial litigation, forensic accountings, financial investigations, and business valuations. I am a Certified Public Accountant (CPA), Accredited in Business Valuation (ABV), a Certified Fraud Examiner (CFE) and am a licensed Real Estate Broker. I regularly serve as an expert witness involving results of my forensic accounting assignments and damage analyses. My resume is available on Fulcrum's website

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