Homes are More Affordable, Fewer Real Estate Agents

C.A.R. Reports Entry-Level Housing Affordability at 33%. Finally, homes are becoming more affordable! The percentage of households that could afford to buy an entry-level home in California stood at 33% in the fourth quarter of 2007, compared with 25% for the same period a year ago, according to a report released by the California Association of Realtors® (C.A.R.). The minimum household income needed to purchase an entry-level home at $411,170 in California in the fourth quarter of 2007 was $82,200, based on an adjustable interest rate of 6.21% and assuming a 10% down payment. First-time buyers typically purchase a home equal to 85% of the prevailing median price. The monthly payment including taxes and insurance was $2,740 for the fourth quarter of 2007. Click here to read more.

California sees drop in real estate licensees. Statewide count falls for first time in 5 years. Statistics reveal a dramatic drop in the number of salesperson license examinations in the state since September, while broker examinations have risen. There were 842 broker examinations administered in September and 14,918 salesperson examinations. That compares with 1,148 broker examinations administered in December 2007 and 1,315 salesperson examinations. 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