Calif. median home price: March 2010: $301,790 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region March 2010: Santa Barbara So. Coast $890,000(Source: C.A.R.)
Calif. lowest median home price by C.A.R. region March 2010: High Desert $122,970 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Fourth Quarter 2009: 64 percent (Source: C.A.R.)
Mortgage rates - week ending 5/6/10 30-yr. fixed: 5.00 Fees/points: 0.7% 15-yr. fixed: 4.36% Fees/points: 0.7% 1-yr. adjustable: 4.07% Fees/points: 0.6% (Source: Freddie Mac)

RadioShack’s online electronics trade-in program allows customers to exchange used, portable electronics for a RadioShack gift card. Accepted items include GPS devices, MP3 players, notebooks, and game consoles. Visit http://radioshack.cexchange.com/online/home/index.rails to learn the trade-in value and download the prepaid shipping labels. Gift cards arrive within 10 to 14 days.

National vacancy rates for owner-occupied housing decreased 0.1 percentage points in the first quarter of 2010 to 2.6 percent, according to the Dept. of Commerce’s Census Bureau.  Meanwhile, vacancy rates nationwide for rental housing increased 0.5 percentage points to 10.6 percent during the same period.  The homeownership rate of 67.1 percent was 0.2 percentage points lower than the first quarter 2009 rate of 67.3 percent and 0.1 percentage point lower than the rate last quarter of 67.2 percent, according to the report.

Home values in most U.S. markets continued to decline in the first quarter of 2010, according to  the Zillow Home Value Index which decreased 3.8 percent year-over-year, and 1 percent quarter-over-quarter. However, home values in several California markets showed signs of improvement, according to the report.

Housing market conditions varied across the country, with 106 of the 135 areas tracked by Zillow continuing to decline on a year-over-year basis. Negative equity rose to 23.3 percent in the first quarter nationwide compared with 21.4 percent in the fourth quarter of 2009, Zillow reported.  Foreclosures reached a new peak in March, with more than one out of every 1,000 U.S. homes entering into foreclosure during the month.

Home values in the Los Angeles, San Diego, San Francisco, Santa Barbara and Ventura MSAs have stabilized significantly in the past year, marking what may be a bottom, according to the report.  Home values in those markets have risen significantly for the past 10 months, following lows set in April or May 2009.

Foreclosure resales nationwide accounted for more than one-fifth (22.2 percent) of all U.S. home sales. Foreclosure resales also accounted for the majority of sales in several MSAs, including 66.3 percent in the Merced MSA; 63 percent in the Madera MSA); and 61.7 percent the Modesto MSA.

Fannie Mae recently announced it is extending its seller assistance incentive on all Fannie Mae-owned HomePath properties. Buyers will receive 3.5 percent of the final sales price, to be used toward closing cost assistance or their choice of selected appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on www.HomePath.com by June 30.

Properties listed on www.HomePath.com are owned by Fannie Mae and include a variety of homes, including single-family homes, condominiums, and town houses. HomePath properties also may be eligible for HomePath Mortgage and HomePath Renovation Mortgage financing, which offers prospective buyers an opportunity to purchase properties with as little as 3 percent down.

Calif. median home price: February 2010: $279,840 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region February 2010: Santa Barbara So. Coast $795,000(Source: C.A.R.)
Calif. lowest median home price by C.A.R. region February 2010: High Desert $122,580 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Fourth Quarter 2009: 64 percent (Source: C.A.R.)
Mortgage rates - week ending 3/18/10 30-yr. fixed: 4.96 Fees/points: 0.7% 15-yr. fixed: 4.33% Fees/points: 0.6% 1-yr. adjustable: 4.12% Fees/points: 0.6% (Source: Freddie Mac)

Who needs a decorative pail on the counter to collect compost—and odors—when you can use a castoff container, such as a margarine container or a cardboard milk carton? Put the container in your freezer, add kitchen scraps until full, dispose scraps (and milk carton) on the compost pile, and repeat. No odors.

Sales in new-home communities of 10 units or more in California declined 12 percent in January compared with a year ago, according to the monthly California Building Industry Association (CBIA)/HanleyWood Market Intelligence report (HWMI).  Though still at a lackluster pace, the decline was less steep than the 15 percent year-over-year decrease experienced in December, according to CBIA.  Sales of single-family homes declined 17 percent, while sales of townhomes and multiple-unit homes rose 8 percent.  Condominium sales declined 4 percent compared with a year ago, according to the report.

The median home price of an existing single family home in California rose 14.1 percent to $279,840 in February compared with February 2009 and home sales decreased 11.7 percent during the same period C.A.R. reported yesterday. 

“The federal tax credit for home buyers, low mortgage rates, and affordability at record levels have contributed to an unprecedented opportunity for many first-timers in the market for a home of their own,” said C.A.R. President Steve Goddard. “Although sales have declined from the unusually strong levels we experienced a year ago, they’ve remained above the 500,000-unit threshold for 18 consecutive months, while home prices continue to firm in the regions of the state most attractive to buyers taking advantage of today’s favorable market conditions.”

Attorney General Edmund G. Brown this week closed two fraudulent foreclosure-assistance companies–U.S. Foreclosure Relief Corp. and H.E. Servicing, Inc.–and secured a court judgment of more than $1 million in restitution for homeowners who paid upfront fees for nonexistent loan-modification services. Under the judgment, a court-appointed independent receiver will oversee the repayment program, which will be paid through frozen company funds and the sale of personal items owned by the executives of the companies.  Victims can access more information about this program by visiting the receiver’s Web site at www.heservicingreceiver.com, by calling: (866) 243-8101, or by e-mailing:  info@heservicingreceiver.com. 

By law, individuals and businesses offering mortgage-foreclosure consulting, loan-modification, and foreclosure-assistance services, unless exempt, must register with the attorney general’s office and post a $100,000 bond. It also is illegal for loan-modification consultants and businesses to charge up-front fees for their services. Non-profit housing counselors certified by the U.S. Dept. of Housing and Urban Development (HUD) provide free assistance to homeowners.