DreamCAHomes, Darlene Morris, Realtor

Determining the salary you need to earn in order to afford the principal and interest payments on a median-priced home in your metro area is detailed in a new chart from HSH.com, and it was found that buying a home remained very favorable during the first quarter of 2014. Los Angeles, New York, San Diego, and San Francisco required the highest salaries. Read the full story http://www.hsh.com//mort/salary-home-buying-25-cities.html

Read this and tell me if you agree...all the young people out there!!!

FUN FACTS: Calif. median home price: March 2014: California: $435,470 Calif. highest median home price by region/county March 2014: Marin, $1.16 million... Calif. lowest median home price by region/county February 2014: Glenn, $140,000 Calif. Pending Home Sales Index: March 2014: Increased 17.8 percent from 97.1 in February to 114.4 in March. Calif. Traditional Housing Affordability Index: First Quarter 2014: 33 percent (Source: C.A.R.) Mortgage rates: Week ending 5/8/2014 (Source: Freddie Mac) 30-yr. fixed: 4.21% fees/points: 0.6% 15-yr. fixed: 3.32% fees/points: 0.6% 1-yr. adjustable: 2.43% Fees/points: 0.4%