And yet another victim of the mortgage crisis: The Renter. Some renters have found themselves homeless after their cash-strapped landlords stopped making mortgage payments and their houses or apartment buildings were foreclosed upon. For many such people, this can mean even steeper rents because the wave of foreclosures has spurred greater demand for rental housing -- a blessing to landlords who don't have banks breathing down their necks. Click here to read more.
Some builders are offering low price guarantees. The guarantee is a limited time offer depending on the builder of course. Basically, if the base price of a buyer's home is less at closing than they paid, the company will honor the lower price. Click here to read more.
Not in a recession. Or so they keep telling us. An anemic housing market and strike-battered entertainment sector may drag on the Southern California economy, but the region will still remain strong enough to avoid recession through 2009, a leading forecast said today. The economy is still growing but at such a slow pace it feels like a recession. However, because of the ongoing housing slump, the residential real estate sector is considered to be in a recession.Click here to read more.
Inland Empire Regional Economy Analysis and Forecast. I found this great 5 part article about the Inland Empire economy. Unfortunately, I can only access Part 3 and Part 2. They're both great reads, but relatively lengthy for a news articles.
Inland Empire Median Home Values. Southern California's home sales last month fell below 10,000 for the first time in more than 20 years. San Bernardino County sales fell the steepest in the region, plunging 53 percent from January 2007, for a total of 1,111 transactions, which DataQuick Information Systems said was the smallest monthly count since the company began keeping track in 1988. Riverside County posted 1,939 home sales, a more than 37 percent decline in a year and the lowest number recorded in any month since January 1997. Also the median home price in San Bernardino County slipped below $300,000 to $298,000, representing more than a 21 percent drop from an all-time peak of $380,000 reached in November 2006. The median home price in Riverside County fell to $331,500, or more than 23 percent below a $432,000 record high in December 2006. Click here to read more.
Crime time? Economic downturn worries police. The next couple of years could be tough on police throughout the Inland Empire. Facing general economic sluggishness and a slumping housing market, local leaders are worried that an uptick in crime - which typically goes hand-in-hand with a worsening economy - is coming. Compounding local cities' concerns is the specter of a mass release of inmates from the state's overflowing prisons. Gov. Arnold Schwarzenegger has floated the idea of cutting the state's prison budget and paroling more than 20,000 nonviolent inmates. At least two Inland Empire cities - Pomona and San Bernardino - expect to become home to a large share of those parolees. 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
No comments:
Post a Comment
Thank you for commenting!