Thursday, June 29, 2006

Prices Up, Number of Sales Down

The median price of an existing single-family home in California increased 8 percent in May and sales decreased 21.1 percent compared with the same period a year ago, the California Association of Realtors recently reported. According to the report, the median price of an existing, single-family detached home in California during May 2006 was $564,430, an 8 percent increase over the revised $522,530 median for May 2005. The May 2006 median price increased 0.5 percent compared with April's revised $561,750 median price.

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Wednesday, June 28, 2006

Only 6% Will See Their Mortgage Rates Reset in 2006

According to the authors of a new Harvard University study, somewhere in the range of 6% of U.S. homeowners have mortgages whose rates will reset upward in 2006. In addition, the Harvard study says the majority of people have enough equity in their homes that they won't be underwater on their mortgages even if housing prices do fall. As of 2004, only 3% of households have less than 5% equity in their homes and 87% of households have at least 20% equity.

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Tuesday, June 27, 2006

Toll Sees Rebound of Housing

In a recent Businessweek article, Robert Toll, cheif executive of the nation's largest luxury home builder, said that a strong economy will spark a housing market rebound after exess inventory from speculators is shaken out, perhaps very soon. In addition to the strong economy, he sites the strength jobs as the reason for his optimism. Check out the entire article.

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Monday, June 26, 2006

Drop in Delinquent Mortgage Payments

Did you see the article in last week's business section? According to the Mortgage Bankers Association homeowners are making fewer late payments than they were at the end of 2005. It's an interesting article that points to healthy employment numbers as the reason for the drop in late payments.

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Friday, June 23, 2006

Friday Best Buy!

This one has it all! Large home on the Ventura Hillside with a large, private lot on a cul de sac. Lap pool - oh, and yes VIEWS! All for $975,000

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Thursday, June 22, 2006

2006 NAR Profile of Second-Home Owners

The National Association of Realtors released their 2006 Profile of Second-Home Owners. Here's what they found:
  • The median age of vacation home owners is 59 and 55 among investment property owners
  • The typical vacation home is 220 miles from the owners primary residence versus 10 miles for investment property owners
  • 35% of investment properties are located in the suburbs compared with 11% of vacation homes

Click here for more highlights from the report.

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Tuesday, June 20, 2006

Raise Your Credit Score

Need a fast way to raise your credit scores before you make that big home purchase? Pay down those credit cards. Paying them down by just 30% will make a noticeable change, and if you get your balances below 25% of your credit line, you'll see a big difference. It'll take 30 - 60 days, but you're interest rate, and monthly payment on your dream home should be noticeably lower.

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Sunday, June 18, 2006

Happy Father's Day!

Wasn't it nice to see June Gloom back? Hope you had a relaxing day, Dad.

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Friday, June 16, 2006

Friday Best Buy!

Very sharp unit at Nantucket Village! Perfect for first time buyers, professional or retired couples seeking an affordable alternative to high-density developments. Patio area between 2 car garage & front door + a private back yard. $389,000

More information and pictures at:

Thursday, June 15, 2006

Fast Facts from CAR Newsletter

From C. A. R. Newsline – June 12, 2006 Edition
Fast Facts

Calif. median home price - April 06: $562,380 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region April 06:Santa Barbara So. Coast $1,250,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region April 06:High Desert $334,860 (Source: C.A.R.)
Mortgage rates - week ending 6/8:30-yr. fixed: 6.62%; Fees/points: 0.5%15-yr. fixed: 6.23%; Fees/points: 0.5%1-yr. adjustable: 5.63%; Fees/points: 0.8%(Source: Freddie Mac)

Lorraine, Realtor

Monday, June 12, 2006

Seen a Coyote Lately?

I have. Lot's of times. It seems to be commonplace when you live next to open space or the hillside. It might be a good time remind everyone what a danger coyotes can be. Yeah, it's cool to see wildlife in our backyards, all the way up until it eats your little dog for a midnight snack. Here are some tips to keep your small animals and small children safe:

  • Don’t leave trash or pet food where the coyotes can get to it
  • Remove sources of water
  • Pick up fallen fruit
  • Put away bird and squirrel feeders
  • Install motion detector lighting
  • Bring pets in at night and supervise small children at all times
  • Scare them off with a loud sound (clapping, yell, honk your horn) when you see them

Coyotes will get bold in entering areas where there is an easy source of food. Removing those sources and scaring them off when they are sited will help keep our pets and loved ones safe. You can get more information on dealing with coyotes by going to my website and clicking on Local Resources. There is a category called Coyotes
with links to different websites giving information on the subject.

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Saturday, June 10, 2006

Open House on Friday's Best Buy!

Two posts down, "Friday's Best Buy!" will be Open from 1 - 4 pm Sunday for your viewing. Come on by and say "Hello!".
(805) 901-8805

Ventura's Median Home Price

According to the California Association of Realtors, Ventura's median home price has increased 4.9% over the past year to $681,190. If you're a homeowner already, good news. Even if you're not a homeowner, this is good news because it means those years of 20% price increases year over year are gone.

The C.A.R. also reported that overall sales are down 38% from last year's frenzied pace.

You can check out the pictured home at 8203 Tiara Street in Ventura. It's priced at $659,900 - well below the median home price here in Ventura County. Be sure to click on the link for more information on this house and others.

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Friday, June 09, 2006

Friday Best Buy!

Check out this charming home in Ventura! It's got hardwood floors, a remodeled kitchen, and even a 2 car attached garage - all for $509,900!

More info and additional pictures at:

Wednesday, June 07, 2006

National Homeownership Month

Can you say homeownership 3 times fast? For the 5th year, President Bush has proclaimed June "National Homeownership Month." Throughout the month, organizations will participate in activities that help raise awareness of homeownership and encourage Americans to consider the benefits of owning their own home.
In his proclamation, President Bush stated: "During National Homeownership Month and throughout the year, we applaud the men and women who work to achieve the dream of homeownership, and we are grateful for those who provide counseling, lending, real estate, construction, and other services to these individuals."
According to the White House, nearly 70% of Americans enjoy homeownership.

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Monday, June 05, 2006

Most People Don't Think There's a Housing Bubble

It seems that homeowners are less worried about a housing bubble this year than they were last year. A survey commissioned by ING Direct found that three-quarters of respondents had 'very little concern' about the prospective value of their homes, the company said.
The survey found that 85 % of homeowners believe that their house increased in value during the last three years. Many of the owners felt their home`s value will go up by about 4% in the next 12 months.

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