Inland Empire and Orange County Real Estate News

Work has been exciting and busy lately. I have been showing property to buyers every day, and it has been wonderful to be working so much. On the downside, I've been a little under the weather. Winds are supposed to be 30-40 MPH in the Inland Empire today and tomorrow. Brrr. I like this weather, but my eyes get irritated very easily. Today we had our weekly office meeting and property tours. My coworker's husband brought in one very adorable Rottweiler/Golden Retriever puppy. It looks like a black wavy haired Lab. It was too cute.


Nicolas Cage sold his Newport Beach house last week for $35 million. It's a new record for Orange County, local OC brokers say. The movie star, who has bought and sold many houses, paid $25 million for the nearly 0.6-acre property in 2005.
The contemporary house on Newport Bay has a view of the harbor's main turning basin. It has a stone loggia with retractable glass doors. Click here to read more.

A really tough year for O.C. housing. Sales fell to their lowest level on record in 2007 and the median price fell for the first time in 12 years, wiping out at least two years of appreciation. 55 percent of the county's active real estate agents from the Pacific West Association of Realtors participated in at least one sale last year – half of them with just one or two sales apiece. The remaining 45 percent had no income in 2007. Click here to read more.

Repo Home Tour, covers streets of broken dreams. In Stockton, a clever agent hosts a Repo Home Tour by filling two 18-seat buses with prospective buyers eager to view foreclosed houses that can be snapped up at -- what he says -- are bargain prices. Some residents criticized it as a tasteless marketing gimmick. But as headlines announce record foreclosures and weeds sprout in the yards of abandoned homes, their tune has changed. Click here to read more.

SoCal median home price plummets. The median home price in a six-county region of Southern California plunged more than 13 percent in December versus a year ago. The steepest came in Riverside County, which saw a 17.8 percent plunge to $355,000. The typical mortgage payment that buyers in the region agreed to pay last month was $1,985, down $64 from November and down $257 from December 2006, according to DataQuick. 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