Real Estate News Round-Up

Real Estate News Round Up -

 Photo via Forbes.com

1. The Most Affordable College Towns.   According to Forbes, more parents are buying homes close to colleges for their students.  A new national study by Coldwell Banker Real Estate, says that more parents are buying houses for their kids to live in while they attend school--or moving the whole family near campus so their kids can live at home.  I think that's a great idea for parents to take a more active role in their child's college life, but at the same time, the student will be missing out on the traditional college lifestyle.  This may or may not be a good thing for the student, but I like to think of college as a great 4-years of character building.  It's like the kiddie pool or bunny slopes of adulthood!  If you don't want to hear me rant and just want to read the results of the survey, click here.

2. Southern California Office Rent is a Bargain Compared to Other Areas in the World.  According to the LA Times, Southern California office rent doesn't even make it into the Top 50 Most Expensive Office Markets.  According to a survey by real estate brokerage CB Richard Ellis Inc., London's West End was numero uno, followed by Hong Kong, and several different areas of Tokyo, Japan.  I suppose this is good information for those of you who are trying to be small, or big, business owners.  What other motivation could someone possibly need to move to California?  It's warm, sunny, beautiful, and office rent is cheap!

3.  California Foreclosure Aid Fund Increases, But Banks Haven't Signed On Yet.  California's "Keep Your Home" plan has grown to $2 billion from $700 million.  Unfortunately, out of the three major mortgage servicers - Bank of America, Wells Fargo, and Chase - only Bank of America has said that it will participate in the Keep Your Home program which will reduce the principle of certain mortgages.  However, BofA has still not signed the agreement.  Fannie Mae and Freddie Mac have declined to participate in the principal reduction part of the plan.  Click here to read more.

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~Tina Jan~
DRE# 01505855
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
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Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
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