Riverside County taking a stand against history as dumping ground for coastal areas. Riverside County isn't as naive as it used to be. That's what some activists and political observers are saying about the prevailing attitude in the once predominantly rural inland area, whose wide-open spaces often have been coveted by heavily populated coastal counties for their unwanted projects. Los Angeles, for example, has proposed dumping its trash in the eastern Riverside County desert. Orange County has been content to let western Riverside County house much of its work force. And earlier this year, a company proposed mining gravel for San Diego's freeways in the mountains near Temecula. "In the past, we have been relegated to being the utility room for the rest of Southern California," said Riverside County Supervisor Bob Buster in a recent interview. "That is beginning to change," he said. Click here to read more.
Area housing prices in a froth, a bubble or a water balloon? For years, some experts have been predicting that real estate couldn't possibly get more expensive. And for years, they've been wrong. Experts don't even agree that there is a bubble. Nominated Federal Reserve Chairman Ben S. Bernanke told Congress last month that there's no such thing. Housing cost increases "largely reflect strong economic fundamentals," like a thriving economy and strong demand for houses, he said. Slightly less optimistic, current Fed Chairman Alan Greenspan has eschewed the bubble metaphor in describing desirable locations like Los Angeles, deciding instead to refer to a housing "froth." To Leslie Appleton-Young, the chief economist for the California Association of Realtors, the housing boom is a "water balloon," with people moving further inland because of the huge increase in coastal home prices. Click here to read more.
New Foreclosures in U.S. Rise, Total Inventory Remains Stable During October. According to data released today by Foreclosure.com, 87,794 foreclosed residential properties were available for sale in the United States during October -- almost unchanged from September. The total number of new foreclosures listed for sale in October -- 21,998 -- increased eight percent from September. The re-listing of available U.S. Housing and Urban Development (HUD)-owned properties in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee and Texas, resulted in the increase of new foreclosures in October. By September 29, HUD identified all the properties it would set aside for the victims of the storm and started re-listing inventory on October 6. For the remaining areas of the country, there was less than a one percent increase in new foreclosures from September to October. "Foreclosure levels in the U.S. remain low compared to the beginning of this year," said Brad Geisen, president and CEO, Foreclosure.com. "While there are still pockets of increasing inventory in the Midwest and Northwest, foreclosure levels in most of the country have remained flat during the past six months." Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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