Venice Bits

The November monthly sales figures for residential homes in Venice is under last year's figures, all across the board. 

For November                                  2009                    2010

Total Units Sold                                 103                       73

Median Price                               $150,000               $142,500

Average Price                              $180,198               $175,095 

Total Volume                            $18,580,351          $12,781,953

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Mortgage Rates Jump to 6-Month High 
Mortgage rates rose for a fourth-straight week to reach a six-month high as yields on government bonds continue to rise. The average interest on a 30-year fixed loan hit 4.61 percent, up from 4.46 percent a week ago, Freddie Mac reported.

Also, 15-year fixed loans averaged 3.96 percent, up from 3.81 percent last week; and rates for variable adjustable-rate mortgages floated higher as well.

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If you are wondering what is the best bang for your buck in home improvement.  Forget the addition and consider exterior renovations.  New front doors, will recoup 102% of your cost.  New windows, garage doors, driveways and landscaping bring a return of 70% of monies spent.  Best of all,  the monies spent on curb appeal will attract the attention of  buyers, who will then schedule a showing of your home.

Have a wonderful Holiday and enjoy the season! Alice Salaices