Livermore, Pleasanton, Danville, Short Sale Specialist
  

Pain at 5 percent: Stockton, Calif.

Monthly income devoted to mortgage bill:

  • Historic average: 24.7 percent
  • At 5 percent interest rate: 26.3 percent

Yes, it’s more than a little bizarre to have a bankrupt city top a list of places where buyers could get priced out if mortgage rates keep rising. But a glut of homeowners, whose mortgages outweigh the value of their homes, has limited the supply of homes here. That’s led to dramatic price gains — but not so dramatic that it flips the balance for those homeowners. In 2013’s third quarter, 18.7 percent of monthly income went to pay the mortgage, a drop from the average of 24.7 percent from 1985 to 1999. If mortgages hit 5 percent, that jumps to 26.3; at 6 percent, to 29.4 percent. Zillow projects that the median price of a home in Stockton will rise 22.8 percent by September, to $255,861; the median income is $50,128.

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RE/MAX Accord Office Locations

 

RE/MAX Accord 1841 4th Street, Livermore CA 94550 925-373-7011

 

RE/MAX Accord 5950 StoneRidge Dr, Pleasanton CA 94588 925-373-7011

 

RE/MAX Accord 350 Montgomery Street San Ramon, CA 94583 925-373-7011

 

RE/MAX Accord 313 Sycamore Valley Road West, Danville, CA 94526 925-373-7011