Cameron Park-The Cost Gap Narrows

Thinking of buying a home? Consider this: The gap between monthly rents and mortgage payments is at its lowest level in almost 20 years.
In some markets, the difference can be less than $100, according to a national study conducted for The Associated Press by Marcus & Millichap Real Estate Investment Services.
The study, part of a week-long look at homeownership by the AP, found years of falling home prices and low interest rates have created the ultimate buyer's market. But while buying a home is more affordable, it isn't necessarily easier.
Tougher lending standards have made it harder to qualify for a home loan, and unemployment is at 9.7 percent. Tax incentives for homebuyers will expire April 30, and interest rates are expected to increase this year.
"Statistically, it's a great time to buy," said Hessam Nadji, managing director of Marcus & Millichap. "Psychologically, the consumer doesn't feel like it's a great time to buy."
The analysis of 45 metro areas found the difference between the monthly mortgage payment on a median-priced home and the median rent is down to $256. The last time that gap was anywhere near that small was in 1993 when it fell to $264, according to the study.
Marcus & Millichap used median prices for the last three months of 2009 and calculated mortgage payments by assuming a 10 percent down payment and a 30-year fixed loan at 5.07 percent, among other factors. It also assumed borrowers.

Let Wendi-Mae Davis, CRS, GRI Resident Realtor for Connect Realty.com, INC., be your resource-phone us today Toll Free 866-333-6333 or direct at 530-676-4447 also wendimae@wendimae.com or check out her personal website at: http://www.wendimae.com/

Making Cameron Park a Better Place to Live...

Group Aims High to define our Community's identity, and are in the beginning stages of doing just that...through the creation of Plan 2030...read on-

Mr. and Mrs. Larry Cameron probably never did dream their Town would look like it does now. An airpark, a Country Club, Community Center, Private Lake and thousands of family homes comprising what one resident used to call

"The real leave it to Beaver town". These amenities, as previously listed, and more-create the "Special place to live" as the entry sign to our fine town states. It is our Town's motto. In January a group of concerned residents, determined to have a voice in the future of their community, set out to define a vision for CP in 2030. They are hosting "create a vision"-a workshop that will offer residents a voice in the future of their town. May 17th at 6:30 PM at the Community Center on Country Club Drive. residents, and business owners, alike-should attend this meeting. The Review Committee is an adjunct to Cameron Park's design review committee.

For more details on this-or for any other infomation you might want or need in Cameron Park-THe group has their own BLOG set up at http://cameronparkvision.blog.com/ so be sure to log in and let your voice be heard!

Contact you local resource and Resident Realtor: Wendi-Mae Davis, CRS, GRI, Broker Associate/Real Estate Counselor for Connect Realty at:

530-676-4447, or toll free 866-333-6333 or via email:

wendimae@wendimae .com and be sure to visit her personal website at : HTTP://www.wendimae@wendimae.com also or anything you could ever want to know about our fine town-also check out the community website at :

http://www.mycameronpark.com/ We look forward to hearing from you-and to being your resource for all your needs...