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California State Overview

Naomi M — Thu, 04 Oct 2007 12:56:09 -0500

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

Naomi M — Thu, 29 Nov 2007 23:16:14 -0600

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.

Sacramento foreclosures soar to all-time record

Thu, 01 Nov 2007 00:17:12 -0500

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.

Short sales and foreclosures make up 12% of Orange County Calif. listings

Naomi M — Mon, 08 Oct 2007 00:00:00 -0500

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.

Indio Calif. housing market continues to plummet

Naomi M — Fri, 05 Oct 2007 00:00:00 -0500

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

Wed, 03 Oct 2007 00:00:00 -0500

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.

Ventura County foreclosures spike 784 percent

Naomi M — Sun, 30 Sep 2007 00:00:00 -0500

Ventura County's foreclosure sales — they spiked 784 percent to 548 from January to June, compared with 62 for the same period a year ago — according to the Real Estate Research Council at California State Polytechnic University, Pomona.