The median price of an existing home in California during April 2006 was $562,380, a 10.2% increase over the $510,400 median for April 2005. The April 2006 median price was essentially unchanged compared with March’s $562,630 median price. In addition, sales decreased 21.4% compared with the same period a year ago, the California Association […]

The number of mortgage default notices sent to California homeowners increased during the first quarter of 2006, rising 23.4% from the fourth quarter of 2005, according to a recent report by DataQuick Information Systems. Lending institutions sent default notices to more than 18,600 homeowners between January 1 and March 31, up 28.7% when compared with […]

Despite rising mortgage interest rates, the National Association of Realtors anticipates the U.S. housing market to experience its third best year in 2006, according to a recent forecast. “Coming off a prolonged period of record sales, housing is taking something of a breather this year,” said NAR Chief Economist David Lereah. “Even so, interest rates […]

The Federal Reserve’s Open Market Committee recently raised the target for the federal funds rate by 25 basis points to 5%, marking the 16th straight increase since June 2004. The federal funds target rate is the interest rate charged by banks when they borrow funds “overnight” from each other.
“Economic growth has been quite strong so […]

Sometimes called the California ranch style, this home in the Modern family, originated here in 1930s. It emerged as one of the most popular American styles in the 1950s and 60s, when the automobile had replaced early 20th-century forms of transportation, such as streetcars.

Now mobile homebuyers could move to the suburbs into bigger homes on […]

The latest pending home sales data tracked by the National Association of Realtors signals modest slowing in the housing market over the next few months, according to a recent report. In March, the Pending Home Sales Index, which gauges home sales activity for upcoming months based on the number of transactions that have signed contracts […]

We traveled to San Bernardino to find this week’s Hot Property, and it’s a beauty! This well maintained home, built in the Spanish architectural style, shows distinction and pride of ownership throughtout it’s 1150 square feet of living space. Custom touches abound in this charming 3 bedroom heritage home. Features include a new central HVAC […]

The annual rate for privately owned housing starts rose to 1.96 million units last month, according to a report released by the U.S. Dept. of Commerce. The March construction pace was up 6.9% from a year ago. Single-family housing starts increased 2.6% from March 2005, to a rate of 1.59 million units, while starts for […]