Thursday, May 16th, 2013 at 3:38pm. 19 Views, 0 Comments.
Seven years after the housing market began to collapse, rising prices and thinner inventories are presenting new opportunities for home sellers. Some hot markets are even seeing multiple offers for the same property—a phenomenon rarely seen since the boom years—as buyers become more confident and seek to take advantage of today's near-record-low mortgage rates.
Home prices nationally climbed 8.3% in December from the same period a year earlier, according to CoreLogic, a real-estate analytics company. The increase was the largest since May 2006 and the 10th consecutive monthly gain. The CoreLogic figures include foreclosures and other distressed sales.
The gains are good news for would-be sellers who have been stranded on the…
Thursday, May 16th, 2013 at 2:50pm. 23 Views, 0 Comments.
Prudential California Realty
Thursday, May 16th, 2013 at 2:37pm. 55 Views, 0 Comments.
Prudential California Realty
Orange County Real Estate Thoughts-Higher home prices lower California housing affordability, C.A.R. reports
Wednesday, May 15th, 2013 at 7:05pm. 20 Views, 0 Comments.
LOS ANGELES (May 10) – Higher home prices put a dent in California’s housing affordability during the first quarter of 2013, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.
The percentage of home buyers who could afford to purchase a median-priced,
existing single-family home in California dropped to 44 percent in the first
quarter of 2013, down from 56 percent in first-quarter 2012 and from 48 percent
in fourth-quarter 2012, according to C.A.R.’s Traditional Housing Affordability
C.A.R.’s HAI measures the percentage of all households that can afford to purchase a median-priced, single-family home in California. C.A.R. also reports affordability indices for regions and select counties…
Wednesday, May 15th, 2013 at 4:35pm. 23 Views, 0 Comments.
California home prices hit highest level in five years
Driven by strong sales in high-end coastal areas and shrinking inventory, California's median home price hit its highest level in March since May 2008, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
Making sense of the story
- Closed escrow sales of existing, single-family detached homes in California totaled a revised seasonally adjusted annualized rate of 417,520, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.
- March closings were up a slight 0.1 percent from a revised 417,310 in February but down 4.9 percent from a revised 439,260 in March 2012. The statewide sales figure represents what would be the…
Tuesday, May 14th, 2013 at 3:52pm. 20 Views, 0 Comments.
The job market is improving, but an important concern remains. The Labor Force Participation Rate (LFPR) is at its lowest level since the late 1970's. The LFPR calculation is quite simple. If you are 16 years old and not in the military, then you either have a job or you don't. The ratio of people "participating" or working is then compared to the total population.
In housing news, research firm CoreLogic reported that home prices rose 10.5 percent in March 2013 from March 2012. This was the biggest annual increase since March 2006 and the 13th consecutive increase in home prices. There was also a 1.9 percent gain from February to March and prices increased in all states except four. However, home prices remain 25 percent lower than the peak of April…
Tuesday, May 14th, 2013 at 9:59am. 14 Views, 0 Comments.
The Esperanza Aztecs has done something that all the senior volleyball players at Goleta Dos Pueblos High will be forever thankful for because of the school's class and sportsmanship.
Esperanza was scheduled to host Dos Pueblos in a Southern Section Division 2 volleyball playoff match on Saturday night. But it was also the night of the Dos Pueblos school prom, and there was no way that the 12 Dos Pueblos seniors and their dates were going to make the prom if the volleyball match went off in Anaheim.
Dos Pueblos asked to change the match to Monday night. And Esperanza agreed.
"It was a classy move by Esperanza to help us out, and we really appreciate it," Dos Pueblos Athletic Director Dan Feldhaus said.
If anyone deserves a Character Counts award, it's the…
Tuesday, May 14th, 2013 at 9:52am. 18 Views, 0 Comments.
Home prices also keep on going, and in a decidedly upward direction. The National Association of Realtors (NAR) reported that for Q1 of this year, the median existing home price jumped 11.3% over last year, the largest annual gain since Q4 of 2005. But Q1 inventory was down 16.8%. The NAR's chief economist expounded: "Inventory conditions are expected to remain fairly constrained this year, so overall price increases should be well above the historic gain of one-to-two percentage points above the rate of inflation."
A leading research analytics firm reported that home prices in March jumped 10.5% year over year, posting their biggest annual gain in seven years. Plus, the 1.9% price increase over February was the 13th monthly gain in a row. These analysts…
Tuesday, May 14th, 2013 at 9:50am. 12 Views, 0 Comments.
Investor enthusiasm pushed U.S. stocks to their third week of record-setting gains. Friday the Dow ended solidly above 15,000, at its highest close ever. Not to be outdone, the S&P 500 also hit an all-time high, well north of 1600. There wasn't much economic data or financial news to distract investors and quite a few Q1 corporate earnings reports continued to surprise to the upside. Other points to ponder included a steep decline in commodity prices and the dollar's surge in value over the Japanese yen.
Weekly Initial Unemployment Claims came in at 323,000, a five-year low. Continuing Unemployment Claims were barely above 3 million. The final source of good feelings came Friday, when the Treasury reported its monthly budget statement. In April, the U.S.…
Tuesday, May 14th, 2013 at 9:42am. 13 Views, 0 Comments.
The city of Fullerton, Calif. has a history that dates back to the late 1880s; buildings and landmarks can be found throughout the downtown area connecting the city to its earlier years.
A non-profit public benefit corporation of 250 members, Fullerton Heritage, is dedicated to educating the public and preserving Fullerton’s past for future generations.
The volunteer organization hopes to educate residents and support preservation. One way they share this information with the community is by leading historical tours throughout the city.
The president of Fullerton Heritage, begins the Historic Downtown Walking Tour by using an iPad to show guests old town plans, photographs of the area and other visuals aspect that help them to visualize and understand the…