American Land Title Association
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Industry News

Californians lose real estate buying power

June 18, 2004

Minimum income needed to buy home tops $100,000

Inman News

The percentage of households in California able to afford a median-priced home sank to 20 percent in April, a 7 percentage-point decrease compared to the same period a year ago, according to a report released today by the California Association of Realtors.

The April Housing Affordability Index declined one point compared to March, when it stood at 21 points.

The minimum household income needed to purchase a median-priced home at $453,590 in California in April was $102,550, based on a typical 30-year, fixed-rate mortgage at 5.42 percent and assuming a 20 percent down payment. This figure was up from $84,510 in April 2003, when the median price of a home was $364,040 and the prevailing interest rate was 5.72 percent.

The minimum household income needed to purchase a median-priced home at $176,000 in the U.S. in April 2004 was $39,790.

At 52 percent, the High Desert region was the most affordable in the state, followed by the Sacramento region at 33 percent. The Monterey region was the least affordable region in the state at 12 percent.

Los Angeles-based C.A.R. is a state trade organization with more than 135,000 members.

Copyright: Inman News Features

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment