Real Estate News for Friday, December 16th, 2005

Hi Everyone! I hope you've all had a great week, it's finally time for the weekend. Of course, the weekends are the busiest times for me, so I'll still be working! But I'm still happy to know that everyone else will be relaxing, or mowing the lawn, etc. :) Speaking of working, I'll be hosting another open house tomorrow! It will be located at 2200 W. Wilson #133, Banning, CA 92223 from 10:00am to 4:00pm. Click here for more details! (Please disregard the old date and time, this is from the last time I hosted an open house there!)

Now for today's top real estate stories.
Real Estate Mogul Declares Homeowners Can Prepare for the Burst of the Housing Bubble. While many real estate investors are running scared about the predicted end of the Housing Bubble, one veteran investor and broker has issued a word of advice – there is nothing to worry about if you are prepared. First, limit your equity position. If you or someone you know has a property that is paid free and clear but is somehow destroyed then you lose all of that equity. Rich recommends you diversify your assets. Second, avoid highly speculative investments, place more assets in other income producing properties, mutual funds, bonds and insured CDs. Finally, tailor your financing to your short and long term needs. If you are planning on moving in the next few years look at short term loan products, but if you are planning on remaining for the long haul utilize low-interest fixed-rate products. Click here to read more.

S.F. Bay Area real estate sales slide for eighth month. Annual price appreciation tops 20% in three counties. San Francisco Bay Area home sales slowed in November while prices are still climbing compared to November 2004, a real estate information service reported today. A total of 9,717 new and resale houses and condos were sold in the region last month. That was down 7.5 percent from 10,508 for October, and down 10.8 percent from 10,897 for November last year, according to DataQuick Information Systems. Click here to read more.

Riverside County home prices top $400,000. The price of a typical home in Riverside County topped $400,000 for the first time last month, a sign that the region's real-estate market still has some steam in it, a research firm said Thursday. The median price rose to $405,000, a 4 percent gain from October and 17 percent higher than in November 2004, according to a report by La Jolla-based DataQuick Information Systems. That marks an all-time high for the county. The median is the price at which half the homes sold for less and half sold for more. The gains also came in an unusually busy month of buying and selling, prompting analysts to suggest that a recent upturn in mortgage rates may have convinced "fence sitters" to buy before rates rise more dramatically. 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