5-year O.C. homeowners 4.1% ahead annually
August 12th, 2008, 12:05 am · 32 Comments · posted by Mary Ann Milbourn
Zillow estimates O.C. home values dropped 17.8% in the second quarter over the same period last year, but if you’ve held on for five years, the value has increased 4.1% on an annualized basis.
The online real estate service estimates that if you’ve owned the same O.C. place for 10 years, values have increased 8.4% on an annualized basis.
Meanwhile consumer prices for the L.A.-O.C.-Riverside area are up 3.6% on average over the past five years, 3.1% since 1998.
Although low-end homes took the biggest bath in value in the last year — plunging 21.9% — long term owners in this category came out best, seeing their values rise an estimated 9% annualized since 1998.
http://lansner.freedomblogging.com/2008/08/12/5-year-oc-homeowners-41-ahead/
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