What Real Estate Bubble? Despite dire predictions ahead, U.S. home prices continue to soar. For all the dire warnings that a pop may well be on its way, 2005 proved to be another record year for the housing market. Home prices rose 13% last year, according to a report released last week by the Office of Federal Housing Enterprise Oversight (OFHEO). What's more, last year's gains cap a five-year run-up in which home prices have soared 58%. Click here to read more.
Absentee landowners fight special real estate tax. Proceeds would help police, fire departments. The city council of California City, Calif., proposed a $75-per-parcel property tax to be placed on the ballot. The tax proceeds would be used for fire, police, parks, water and street purposes. The town has more than 50,000 subdivided (mostly vacant) parcels but only 3,800 registered voters. At the election, more than 70 percent of the voters approved the $75-per-parcel special tax. However, non-resident property owner N.L. Neilson sued to challenge the tax vote result because he and most of the other vacant parcel owners could not vote on the tax increase that affected them. He argued the non-residents should have been allowed to vote. If you were the judge, would you rule the 3,800 registered voters could enact a $75-per-parcel tax on 50,000 properties? The judge said yes! Click here to read more.
Home builders feel ethnic buyers' impact. Nationally, Hispanics, Asians and African-Americans made up more than one-third of all first-time home buyers in 2003, according to the Joint Center for Housing Studies at Harvard University. Although local statistics are not available, it could very well be higher in Maricopa County, where members of those groups make up about 39 percent of Maricopa County's 3.5 million people. Click here to read more.
Unsold home inventory builds. In one of the strongest signs yet that the housing market is cooling, San Diego County's inventory of unsold existing homes is fast approaching 16,000 ---- twice the total one year ago and five times the number in March 2004, a local real estate agent said Tuesday. Click here to read more.
Point2 Technologies Syndicates Real Estate Listing Data To Google Base/LiveDeal/PropSmart And Trulia. Point2 Technologies Inc. (“Point2”) today announced that real-time data feeds from the company’s online real estate marketplace, Point2Homes.com, to property search websites Google Base and Trulia are now active. Additional feeds to LiveDeal and PropSmart are expected to go live later this month. The feeds are part of a broad data syndication initiative Point2 introduced last February and that aims to capitalize on consumer traffic on innovative online real estate listing venues, to further increase traffic and sales lead flow to Point2 Agent member websites. Click here to read more.
Median prices for existing homes in 2005. Median prices for existing homes rose 13.6 percent during 2005, according to the National Association of Realtors, but trends varied widely among metropolitan areas. The highest median prices were in San Francisco-Oakland and nearby San Jose, Calif., at well over $700,000; and Anaheim-Santa Ana-Irvine, Calif., at $699,800. Honolulu and San Diego also topped $600,000. 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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