The results are in for the First Quarter 2000 California Housing Finance Survey (HFS) released today by the California Association of REALTORS, including a greater role for the Internet among buyers and sellers.

According to the first quarter 2000 results released by C.A.R., the use of the Internet among homebuyers and sellers rose to 42.9 percent in the first quarter of 2000, up from 37.4 percent for the same period a year ago.

Buyers on the Internet still outpopulate sellers, with 30.7 percent of homebuyers using the Internet compared to 18.5 percent of sellers in the first quarter of 2000.

Trending with the results of previous reports, it is not surprising that use of the Internet among homebuyers rose to 30.7 percent Q1 compared to 28.0 percent in Q1 1999.

Use of the Internet among sellers is also rising, from 14.4 percent a year ago Q1 to 18.5 percent Q1 2000.

Among other results, the survey pointed out that the homes sales accelerated, with the time on the market falling to three weeks from four weeks a year ago. The median home price rose to a record $250,000 from $240,000 in Q1, 1999. Escrow took only 35 days to close, compared to . ten years ago when the typical escrow period was between 60 and 90 days.

Buyers also had to make an extra offer to buy a home, as the median offer per home rose from two in the fourth quarter of 1999 to three in the first quarter of this year.

Rising interest rates had an impact, increasing in more than 38.2 percent of all transactions from the time an offer was made to close of escrow in Q1 2000. Realtors reported more difficulty in 16.7 percent of transactions as a result. In Q1 2000, 21.2 percent of homebuyers chose an adjustable rate mortgage as opposed to 8.2 percent of homebuyers in the second quarter of 1999.

Stock market proceeds continued to be a factor in California home sales.

Published: July 21, 2000

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.