California State Overview
Submitted by Naomi M on Thu, 10/04/2007 - 17:56.
Capital: Sacramento
Estimated 2004 population: 35,893,799
Change from 2000: +2,022,151
2004 housing units: 12,804,702
Housing units change from 2000 - 2004: +559,626
San Diego pegged as 3rd most-declining housing market
Submitted by Naomi M on Fri, 11/30/2007 - 05:16.San Diego County tied auto-dependent Detroit as the nation's third-most-declining housing market in the third quarter, according to Standard & Poor's index of 20 metro areas released yesterday.
The 9.6 percent drop in single-family house prices was nearly twice the 20-city decline of 4.9 percent and demonstrated that San Diego has not reversed a downward trend that began in November 2005, according to the S&P tracking data.
The 9.6 percent drop in single-family house prices was nearly twice the 20-city decline of 4.9 percent and demonstrated that San Diego has not reversed a downward trend that began in November 2005, according to the S&P tracking data.
Sacramento foreclosures soar to all-time record
Submitted by Anonymous on Thu, 11/01/2007 - 05:17.Home loan defaults and foreclosures spiked to unprecedented highs across the Sacramento region, La Jolla-based property researcher DataQuick Information Systems reported Friday. Statewide numbers also broke records.
At least 6,638 homeowners in El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties received notices of default from their lenders during the three-month period, said DataQuick. Lenders typically issue default notices – the first step toward the formal foreclosure process – when a borrower falls two or three months behind on the mortgage.
At least 6,638 homeowners in El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties received notices of default from their lenders during the three-month period, said DataQuick. Lenders typically issue default notices – the first step toward the formal foreclosure process – when a borrower falls two or three months behind on the mortgage.
Short sales and foreclosures make up 12% of Orange County Calif. listings
Submitted by Naomi M on Mon, 10/08/2007 - 05:00.According to Steve Thomas at Re/Max Real Estate Services in Aliso Viejo, 12 percent of O.C. property listings are distressed sales.
After finding a new way to search for short sales and foreclosures on the market and in escrow, Thomas discovered that short sales and foreclosures in Orange County account for 12% of the active inventory and 15% of all escrows opened within the prior month.
After finding a new way to search for short sales and foreclosures on the market and in escrow, Thomas discovered that short sales and foreclosures in Orange County account for 12% of the active inventory and 15% of all escrows opened within the prior month.
Indio Calif. housing market continues to plummet
Submitted by Naomi M on Fri, 10/05/2007 - 05:00.Indio home sales fell 54 percent in August compared with the same month a year ago. This follows drops in May, June and July, when sales fell 33 percent, 55 percent and 45 percent, respectively, according to La Jolla-based real estate information firm DataQuick Information Systems.
Land in Barstow California offers investment opportunities
Submitted by Anonymous on Wed, 10/03/2007 - 05:00.Area experts are very bullish on Barstow.
In the slowdown after the national housing boom, Barstow's real estate market offers low prices and strong growth potential, particularly in raw land. Like much of the country and the state of California, Barstow experienced a boom in 2004 and 2005 and has now slowed down, Ann Marie Hammond of Coldwell Banker Golden West Real Estate in Barstow said.
In the slowdown after the national housing boom, Barstow's real estate market offers low prices and strong growth potential, particularly in raw land. Like much of the country and the state of California, Barstow experienced a boom in 2004 and 2005 and has now slowed down, Ann Marie Hammond of Coldwell Banker Golden West Real Estate in Barstow said.
Inland Empire housing developers "on hold" in down market
Submitted by Anonymous on Sun, 09/30/2007 - 05:00.The faltering Inland Empire housing market is having a negative effect on some of the area's most anticipated projects. Essentially putting most “on hold” except for one segment.
Local housing starts were down 45 percent for the first eight months of the year compared to the same period in 2006, and several housing developments are either going by the wayside or slowing their pace. "The decline in the market is across the board," said Steve Johnson, Southern California director of the market-research firm Metrostudy.
Local housing starts were down 45 percent for the first eight months of the year compared to the same period in 2006, and several housing developments are either going by the wayside or slowing their pace. "The decline in the market is across the board," said Steve Johnson, Southern California director of the market-research firm Metrostudy.
