Asian Journal- The Filipino-American Community Newspaper

Saturday
Nov 21st
Text size
  • Increase font size
  • Default font size
  • Decrease font size
This site is best viewed with Firefox 3, Safari 3 and Internet Explorer 7
Home General Interest Atty. Kenneth Go California real estate market

California real estate market

E-mail Print PDF
(0 votes, average: 0 out of 5)
Article Index
California real estate market
Page 2
All Pages

AS HOME sales increase due to pent up buyer demand in California, there has been decrease in number of properties available. This might be apparent that the bottom of the market might have hit about six months ago. Housing Predictor projects the California housing market to be in a recovery by late summer. Now, there are still areas that are depressed and still might see another 3-6% decrease in values.

It will take years for the Golden State to recover fully. Despite the credit crunch, an ailing economy, increasing foreclosures and growing unemployment California will join Florida in coming out of the housing mess. The growing volume of home sales is aiding the state’s recovery. A special $10,000 state tax credit for home buyers, $8,000 federal tax credit and the lowest mortgage interest rates on record are getting home buyers off the fence. MCC ( Mortgage Credit Certificate) is another source of tax credit that buyers can apply for if they qualify to get more tax credits and some city assistance program. Another one would be NACA a non profit organization that helps homebuyers and homewoners needing some government assistance.

More than anywhere else in the country, California has been through major ups and downs in housing prices. Every time it happens more people move out of the state than move into California. But that means little to true Californians, who keep their residences in the state known for being the leader in dozens of industries. After all, it is the Golden State, the home of Hollywood and the best weather in the nation.

As the recessionary economy worsens in Los Angeles, home prices are falling at some of the fastest rates in the country. Record high foreclosures are hurting, but have triggered an increase in home sales. Mortgage companies and banks are slashing prices in order to unload inventory before the second round of foreclosures hits. Greater Los Angeles area home values are forecast to deflate an average of 20.1% in 2009.

2009 Market Watch

   City Forecast

  •    Los Angeles     −  20.1%
  •    Riverside    −  21.2%
  •    Inland Empire    −  21.2%
  •    Anaheim    −  19.3%
  •    San Diego    −  17.3%
  •    San Jose     −  19.2%
  •    San Francisco    −  17.6%
  •    Oakland    −  18.2%
  •    Orange County    −  19.3%
  •    Fresno    −  23.1%
  •    Bakersfield    −  19.3%
  •    Tulare    −  19.8%
  •    Sacramento    −  15.7%
  •    Stockton    −  26.4%



Comments
Add New Search RSS
+/-
Write comment
Name:
Email:
 
Title:
UBBCode:
[b] [i] [u] [url] [quote] [code] [img] 
 
 
:angry::0:confused::cheer:B):evil::silly::dry::lol::kiss::D:pinch:
:(:shock::X:side::):P:unsure::woohoo::huh::whistle:;):s
:!::?::idea::arrow:
 
Please input the anti-spam code that you can read in the image.
Powered by AJPress

3.26 Copyright (C) 2008 Compojoom.com / Copyright (C) 2007 Alain Georgette / Copyright (C) 2006 Frantisek Hliva. All rights reserved."

 
KC Concepcion: A star in her own right
MEGA daughter KC Concepcion might have been born to showbiz royalty parents but she didn’t hoist this birthright as a golden ticket to get ahead....
How to rebuild your life after foreclosure
IF you have recently lost your home to foreclosure, you may feel like it’s the end of the world. You may feel depressed and emotionally devastated....
The big pic
There is no cure for birth and death save to enjoy the interval.—George Santayana(With nearly 600,000 jobless Americans, millions who have lost...
Use your refund wisely
So your 1040 is filed and you are now anxiously waiting for your refund. What do you plan on doing with it? Go on that longawaited cruise, get a new...
Proposed law for “forced” loan modification?
According to recent statistics, there were more than 3 million foreclosure filings in 2008. One in 54 homes received at least one foreclosure notice...
The meaning of the holidays
ALL year round we work hard and try to fulfill our duties and obligations the best that we know how. Sometimes, we get caught in the tasks and forget...
God bless Marikina and the Filipino people
Last weekend, will be sadly remembered as the weekend when the worst devastation hit the Philippines. One that it hasn’t seen in years. The...
Wrong thinking can lead to financial disaster
IN 1912, the sinking of the mighty ship called the "Titanic" sent 1,516 people to a watery grave. The "Titanic", first thought to be unsinkable, sank...
Are employees entitled to privacy at work?
THE United States and California Constitutions guarantee the right to privacy. The right to privacy presumably imposes limitations on an employer’s...
Women must focus on retirement income
WHETHER they are the breadwinner in their household or not, preparing for retirement should be extremely important to women. One item of planning...
Beauty Queen-Actress Jean Saburit Flies to Manila for Speziale Splendy Fashion Show
Beauty queen-actress Jean Saburit, a resident of Pacifica, flew back to the Philippines to attend a gala fashion show on November 19, Thursday, at...
Of charmed lives
"Now is the winter of our discontent made glorious summer by this son of York." - William ShakespeareHAVE you ever gone through a "winter of...
Is Bankruptcy Advisable For Your Situation?
If you are in debt and are seriously considering bankruptcy as an option, I am sure a lot of thoughts are going through your mind. How quickly can I...
Flossing or just rinsing
WHILE some study results indicate the use of a mouth rinse can be as effective as flossing for reducing plaque between the teeth, the American Dental...
Cancellation of debt due to foreclosures
A CONCERN that is growing rapidly is the cancellation of mortgage foreclosures.  Although these are leading causes, they are not the only ones;...
Bad breath
A lot of patients share your concern about bad breath. As a social embarrassment, it’s surely near the top of the list. Since mouthwash won’t...
Are we out of it yet?
"The fishermen know that the sea is dangerous and the storm terrible, but they have never found these dangers sufficient reason for remaining...

FASO-PASKO

Click Here 

Balikbayan Magazine Issue 9 Vol. 1 November

AJTV