Monday, December 31, 2012

SAN DIEGO JAN, 2013 Events

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IVAN SOLIS, JR.
Title Consultant
Lawyers Title619.804.9000mailto:isolis@ltic.com?subject=ivansolis.lticsd.com
Office: 800.464.8444

January 1 – 31  (Ongoing)
Big Bay Whale Days Celebrate the Big Bay Whale Days with fun, deals, and giveaways for the whole family. There will be 25 exhibitors offering discounts and giveaways. The Big Bay Whale Days and Whale Festival provide the community with the best place to learn about California gray whale ecology and conservation and find information about opportunities to interact with the whales safely and affordably.
Time: Refer to websiteLocation: San Diego Embarcadero, 1066 N Harbor Dr., San Diego
For more information visit http://e2.ma/click/fd4ne/rqa77/7egsgb

January 6
Annual San Diego Resolution Run 5K & 15K San Diego Resolution Run 5K & 15K will take runners on a loop around Fiesta Island in scenic Mission Bay Park’s De Anza Cove while raising funds for charities that seek to keep the environment healthy. Awards will be given for the first 3 male and female finishers in each age category. Refer to website for registration information.
Time: 6:00 am – 10:00 amLocation: De Anza Cove/Mission Bay, 3000 E. Mission Bay Dr., San Diego
For more information visit http://e2.ma/click/fd4ne/rqa77/fdksgb

January 12
Ray at Night Visit North Park’s eclectic art and culture neighborhood and be inspired by all the creative energy from local and nationally known artists. Live street music and local food vendors will be on site to make for a fun and unique Saturday evening in North Park!
Time: 6:00 pm – 10:00 pmLocation: Ray St., North Park, San Diego – see website for map
For more information visit http://e2.ma/click/fd4ne/rqa77/nbosgb

January 13
Petco Walk.Run.Wag 5K9 The Petco Walk.Run.Wag.5K9 is a 5k and 1-mile run and walk for people with or without a dog. The event will include a pet and fitness expo. Refer to website for registration information.

Time: 7:00 am - 2:00 pmLocation: Wyland Center, Del Mar Fairgrounds, Del Mar
For more information visit http://e2.ma/click/fd4ne/rqa77/b2ssgb

January 13 – 18
San Diego Restaurant Week Extraordinary three-course menus from San Diego’s best restaurants. Choose from over 180 of the city’s best restaurants and enjoy a fixed price, three-course dinner. There will also be two-course lunches available. Refer to website for price information.
Time: Refer to websiteLocation: Various Locations throughout San Diego County
For more information visit http://e2.ma/click/fd4ne/rqa77/zsxsgb

January 18 – 20
Del Mar Antique Show More than 250 premier antique dealers from all over California and the western United States will be selling the finest in antiques and collectibles. Appraisal and restoration services are also available. Refer to website for admission information.
Time: Fri/Sat: 11:00 am – 7:00 pm, Sun: 11:00 am – 5:00 pm Location: O’Brien Hall, Del Mar Fairgrounds, Del Mar
For more information visit http://e2.ma/click/fd4ne/rqa77/zw4sgb

January 18 – 20
Gem Faire The Gem Faire, established in 1989, has become a world-renowned marketplace for the finest in gemstones, beads, jewelry, minerals, fossils, meteorites, lapidary equipment, metaphysical items and much more at the lowest prices in today’s market. Refer to website for admission information.
Time: Fri: 12:00 pm – 6:00 pm, Sat: 10:00 am – 6:00 pm, Sun: 10:00 am – 5:00 pm Location: Bing Crosby Hall, Del Mar Fairgrounds, Del Mar
For more information visit http://e2.ma/click/fd4ne/rqa77/nn9sgb

January 20
Bridal Bazaar At the January Bridal Bazaar there will be thousands of wedding ideas, fashions, products and services all in one place. There will be more than 300 of San Diego’s most trusted wedding professionals offering everything you need to make your wedding extraordinary; ceremony and reception locations, photographers, videographers, DJs, musicians, cake and catering options, the latest trends in florals and decor from San Diego’s leading designers, and much more!
Time: 10:00 am – 4:00 pm Location: San Diego Convention Center - Hall C, 111 W. Harbor Dr., San Diego
For more information visit http://e2.ma/click/fd4ne/rqa77/7yftgb

January 20
Annual Martin Luther King Jr. Parade This is an annual event commemorating the legacy of Dr. Martin Luther King. The Parade features marching bands and floats, drill teams, dance groups, and other community groups.
Time: 2:00 pm Location: Embarcadero, Harbor Dr., San Diego – refer to website for map
For more information visit http://e2.ma/click/fd4ne/rqa77/72mtgb

January 21 – 27
PGA Tour Golf Tournament San Diego is the host for the “Farmer’s Insurance Open” at the exclusive Torrey Pines Golf Course. Refer to website for complete schedule, tickets, and local event details.

Time: Opening round 24th: 8:30 amLocation: Torrey Pines Golf Course, 11480 North Torrey Pines Rd., La Jolla
For more information visit http://e2.ma/click/fd4ne/rqa77/z8ptgb

January 24 – 27
San Diego Sunroad Boatshow The San Diego Sunroad Boatshow is complete with both land and in-water locations, focusing on the latest boats and marine equipment. This year’s show includes over 100 new and pre-cruised sailboats and motor yachts, dozens of marine vendors with the latest nautical products and services, delicious food and drink sponsored by local restaurants, and special boating events and boat rides for kids and adults. This is a free event.
Time: Thurs/Fri: 12:00 pm – 6:00 pm, Sat/Sun: 10:00 am – 6:00 pm Location: Sunroad Marina, 955 Harbor Island Dr., San Diego
For more information visit http://e2.ma/click/fd4ne/rqa77/jkwtgb

January 26 – 27
San Diego Cat Fanciers CFA All-Breed Cat Show Nearly 450 of the nation’s finest cats will vie for top honors at “Food & Water Bowl XX,” the largest annual cat show on the West Coast. San Diego County residents may enter their cats in the Household Pet Class. Selected cats will be available for adoption from shelter and rescue organizations. Pedigree kittens will also be for sale. See website for admission information.
Time: Sat: 10:00 am – 5:00 pm, Sun: 9:00 am – 5:00 pm  Location: Del Mar Fairgrounds, 2260 Jimmy Durante Blvd., Del Mar
For more information visit http://e2.ma/click/fd4ne/rqa77/n31tgb

January 26
3rd Annual Stephen Strasburg 5K with Tony Gwynn This is a family-friendly event that will include games and fun for everyone. After the walk and fun run there will be lots of activities for all ages. There will be live music, food court, kids fun zone, and more. See website for registration information.
Time: 7:00 amLocation: Tony Gwynn Stadium, San Diego State University, San Diego
For more information visit http://e2.ma/click/fd4ne/rqa77/7e8tgb

January 26
5th Annual Big Bay Whale Festival The Whale Festival is a family community event offering a wide variety of interactive and hands-on displays to spark the interest and imagination of any child. Activities include a kid’s art mural coloring project, a giant inflated obstacle course, a trackless train, a bounce house, and live music on the “Whale of a stage.” This is a free event.
Time: Refer to websiteLocation: Port Pavilion on the Broadway Pier, San Diego
For more information visit http://e2.ma/click/fd4ne/rqa77/7ifugb

January 27
Carlsbad Marathon & Half Marathon The Tri-City Medical Center Carlsbad Marathon features a rolling course, including 14 miles along the Pacific Ocean. The course includes 26 fully staffed support stations, continuous entertainment and unsurpassed volunteer support. The marathon and half marathon start and finish at Westfield Plaza Camino Real. The Health and Lifestyle Expo runs Friday thru Sunday. Refer to website for registration information.
Time: 5:00 am – 2:00 pm Location: Westfield Plaza Camino Real, 2525 El Camino Real, Carlsbad
For more information visit http://www.carlsbadmarathon.com/

Information deemed reliable but not guaranteed. Though every effort is made to verify
the information provided, schedules are subject to change without notice.
Please verify information if necessary by calling or visiting the event website provided.

©2013 Lawyers Title

5898 Copley Dr. Suite 300 | San Diego, CA 92111 US

 
Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty

Posted via email from RealtorPeg

$249,999.99 Income?


Some people were talking about keeping their earnings below $250,000 to avoid increased taxes. 

If the rates are changed as proposed, the rate on your first $250,000 of income will be taxed the same as now. 

It is only on earnings over $250,000 that there will be the 3% additional marginal tax.  

Make $300,000 next year the additional tax would be $1,500.  Not good but not earth ending.  Let’s hope there are spending cuts.

courtesy of:  http://www.DuaneGomer.com

Posted via email from RealtorPeg

Sunday, December 30, 2012

San Diego Median Home Sales Price Best in 7 Years

San Diego County housing prices rose 13.7 percent over the last year to $358,000 as sales soared to their best November in seven years ....

It was the highest overall price since July 2008 as the market was skidding down and close to the $357,000 posted in March 2003 as prices were rocketing up.

Details by home type included:

  • Single-family resale homes, representing two-thirds of activity, reached a median $390,000, the highest since July 2008 and up 21.2 percent from a year ago.
  • Resale condos were at $253,250, a 3.8 percent jump from October and 23.5 percent increase from November last year.
  • Newly built houses and condos registered a median $460,000, up 2.2 percent from October and only $500 higher than a year ago.

Sales for November totaled 3,371, down 6.9 percent from October, a typical seasonal dropoff. But that was 22.4 percent higher than a year ago and the highest for any November since the local market peaked in November 2005. At that time, there were 4,232 sales and prices stood at an all-time median high of $517,500.

In brief, overall prices were 30.8 percent off the November 2005 peak but have risen 27.9 percent since the January 2009 low of $280,000.

For 19 southwestern Riverside County neighborhoods near the San Diego County line, the overall median stood at $243,000, up 3.6 percent from October and 10.5 percent from November 2011. The sales count was 1,139, up 12.7 percent from year-ago levels.

DataQuick attributed the increases in prices and sales to a greater demand for higher-priced homes and reduction in low-cost foreclosure properties.

"Investor activity and cash purchases remain unusually high," said DataQuick President John Walsh in a statement, "and more buyers feel confident about their jobs, the economy and the likelihood housing prices have bottomed and are likely to rise. We're also seeing non-distressed sales, where people sell at a profit and buy another house, triggering more move-up activity."

San Diego State University economist Michael Lea said the decline of distressed property as a market factor bodes well for other housing to be bought and sold.

"All signals are pretty favorable for next year to continue the recent pace," Lea said.

The San Diego Association of Realtors pinpointed one of the factors in the market upswing -- falling inventory of homes for sale.

As of Dec. 5, there were 4,636 homes for sale on the local multiple listing service. That was down 50.2 percent from December 2011's active listing total of 9,303. The current low inventory level is comparable to the go-go days of spring 2004.

courtesy of:  http://www.utsandiego.com/news

Posted via email from RealtorPeg

Saturday, December 29, 2012

Jan, 2013 - Asteroids, Meteors & Comets Hit Fleet Science Center!

  Reuben H. Fleet Science Center
Your Guide to the Fleet
JANUARY  2013
Reuben H. Fleet Science Center
Smashing Good! GREAT BALLS OF FIRE! Comets, Asteroids, Meteors Exhibition Makes Its West Coast Debut at the Fleet!
You can save the earth
Before 2013's potential "Great Comets" ISON and PANSTARRS arrive, delve into the origins of comets, asteroids and meteors and what they can tell us about Earth. Explore the imminent threat of a catastrophic impact and examine recent discoveries and cutting-edge science relating to these mysterious space rocks through hands-on activities, computer-based interactives, meteorite specimens, scale models and an immersive audio-visual experience called Asteroid Encounter. More>>

Opens January 19; through April 28, 2013! 


Dazzling Cosmic Collisions Also Crashes Into the Heikoff Dome Theater on Saturday, January 19!
Cosmic Collision
This spectacular immersive digital show features stunning images of these universal forces of nature from space and breathtaking visualizations based on cutting-edge scientific data. It reveals the unimaginable, explosive encounters that shaped our solar system, changed the course of life on Earth and continue to transform our galaxy and dynamic universe. More>>

Opens January 19!


All Hail Ales and Long Live Lagers at Science on The Rocks "Tap This: The Art Of The Brew," on January 24!
Tap This
Explore the scientific alchemy of our local brewniverse, sip suds and chat up experts from a bevy of hot San Diego breweries. Hop into the experience with tasty temptations from standout local restaurants, engaging entertainment and inspired interaction with beer-centric science challenges of Beer Pong, Beer Goggles, Pub Games and Pretzel Necklaces. More>>

January 24; 6:30 p.m. - 9:30 p.m. 


Giant Dome Theater Pre-Seating Privileges! 
Audience at Fleet
Members at the Voyager level and above receive pre-seating for IMAX® films, digital shows and The Sky Tonight planetarium shows. Enter before those in line to take your choice of the best seats in the house.

Not yet eligible? Upgrade at any time! Contact Tamra Kirl: (619) 238-1233, ext. 713. More>> 


Young Scientists Now Expanded to Sunday!
young Scientists
Come enjoy weekend fun with your little one. Young Scientists (3-5) along with an adult can join us in January for Recycling Fun on Thursdays, Fridays, Saturdays or Sundays. Each week brings a different informal learning experience on topics including Build Moving Parts, Make Toys, Care for the Planet and Inventions! More>>  

January 10 - February 3
9:00 a.m. 


Explore the "Wonders of the Winter Sky" at The Sky Tonight!
Crab Nebula
The winter sky boasts the familiar constellations of Orion and Taurus. Hidden within these are beautiful star clusters and nebulae that are wonders of the winter sky. Please join Resident Astronomer Dr. Lisa Will to be amazed by these celestial objects on the Giant Dome screen; then check out the SD Astronomy Association telescopes on the Prado for star-viewing (weather permitting). More>>

January 2, 2013
7:00 p.m. & 8:15 p.m. 


Get Charged Up at Family Science Saturdays!
Family Science Saturday
Tinker with electricity using everyday objects. Batteries, lights, motors and switches are but a few of the types of electrical parts to be explored. Build electrical circuits with familiar components and spark the enjoyment of learning. Unravel the wires and the mystery behind that light switch you use every day. More>>

Saturday, January 5, 12, 19 & 26
1:00 p.m. - 3:00 p.m. 


Be the Best Parent Ever While Leaving All the Birthday Party Details to Us!
Birthday Parties at the Fleet
We all know how much work goes into planning a birthday party for your child. Wouldn't it be nice to make one simple call and be done? So sit back, enjoy the fun and let us do the work. A private decorated room, educational workshops and over 100+ hands on exhibits inspiring young minds--and much more--can be had at the Fleet! More>>


Quick Links
January Events
1
Residents' Free Tuesday
2 Origami with Bruce Gemmell
2-4
Winter Camp
7
Senior Monday
12
Saturday Science Club for Girls
20
IMAX en Español
Now Playing
Cosmic Collision
Tales of the Maya Skies
Flight of the Butterflies
To The Arctic

Enter to Win
Congratulations to Christopher Carbone, winner of 4 tickets to Truth Values: One Girl's Romp Through M.I.T.'s Male Math Maze.

This month, it could be YOUR turn to win! Enter to win a pair of passes to the San Diego Air & Space Museum! 
     San Diego Air and Space Museum  

To enter, please complete this form by January 15, 2013.

Name an IMAX Film!
MacGillivray Freeman Films, producers of fantastic IMAX favorites like Everest, Coral Reef Adventure, and To The Arctic (now playing at the Fleet!), needs your help titling their next film.

Please take just a moment to learn more about their upcoming film and give your opinion about what to title it. Take the survey! 


Forward this issue to a Friend

STAY CONNECTED  Facebook 2013 Twitter 2013 YouTube 2013 Flicker 2013 LinkIN 2013
 
   Commission for the Arts and Culture LEED certified IMAX

 
Copyright 2012 Reuben H. Fleet Science Center. All rights reserved.

 

Reuben H. Fleet Science Center | 1875 El Prado | San Diego | CA | 92101| 619.238.1233

Posted via email from RealtorPeg

Why Do I Need A Bank Pre-Approval?!

Are you now thinking of buying a first home or a move-up home?  While you are thinking, there is one important thing to do now:  Get a Pre-Approval from a professional Mortgage Loan Originator.  Why?

  1. So you know how large of a loan you can get before you look at any homes.
  2. You can clear up any problems on your credit report.  There could be some even in the best of homes. 
  3. If you make an offer, the sellers and agents will know you are serious and will probably have no problem getting financing.
  4. Is it easy? No, so start now, particularly anyone self-employed, with seasonal or erratic income, rental property owners, etc., etc., etc.  Yes, there is some work involved.  Do it now, or do it under pressure later; your choice.

courtesy of:  http://www.DuaneGomer.com

Posted via email from RealtorPeg

Who's Calling the Shots: Buyers or Sellers?

The housing market is changing, creating a “new playing field for home owners, who are finally able to sell, as well as would-be buyers who've been delaying a purchase in anticipation that prices would keep falling,” Money Magazine reports. 

Mortgages for home purchases are expected to soar 55 percent in 2013, according to forecasts by the Mortgage Bankers Association. 

“The days of buyers sticking it to sellers are over," says Tracie Peay, a Salt Lake City real estate practitioner.

Still, home sellers should keep their expectations in line: Price increases are to be modest and gradual. Fiserv forecasts home prices will rise 3.3 percent a year in value between now and 2017. 

As for buyers, they may need to have a better understanding of the increased competition they may face. 

"If you want to buy, you have to be ready to make an offer," says David Howell, chief information officer at McEnearney Associates, a real estate agency in the Washington, D.C., metro area. He says the first offer should be close to the home buyer’s best offer. 

Lowball bids will get ignored, adds Fran Bailey, a Chicago real estate professional.

According to Money Magazine, home sellers may have the most bargaining power in the West, while home buyers may be more in control in the Midwest and Northeast. 

courtesy of:  http://realtormag.realtor.org/

Posted via email from RealtorPeg

Friday, December 28, 2012

Stalemate in Washington Is Eroding Confidence of Consumers

For months, consumers have powered spending, while businesses pulled back ahead of the looming fiscal impasse in Washington. Now, as doubts grow about whether the president and Congress can reach a compromise before a year-end deadline, evidence has emerged that consumers, too, are becoming more pessimistic about the economy.

Consumer confidence in the first half of December took a sharper-than-expected dip, falling to its lowest level since August, according to a new survey released Thursday by the Conference Board. Wall Street also registered its frustration with the stalemate in Washington on Thursday, sending stocks sharply lower before recovering late in the day.

The gloom comes despite signs the economy has been holding up recently during the rising worries — other data released Thursday showed a healthy gain in new-home sales and a slight drop in new jobless claims. Indeed, the Conference Board’s data show consumer anxiety is centered on the outlook ahead for the economy, rather than on current conditions.

“People are realizing that we may not get a compromise and they’re getting nervous,” said Guy Berger, United States economist with RBS Securities. “It’s a precarious situation. So far consumers are worried about the future. Once they start worrying about the present, we’re in trouble.”

If Congress and President Obama cannot agree on a deal to cut the deficit by Jan. 1, more than $500 billion in tax increases and spending cuts are set to take effect.

Taxes have been the main sticking point — while the president favors eliminating Bush-era tax cuts on incomes over $250,000 and preserving current rates for lower incomes, many Republicans have been wary of supporting any tax increase. Republicans have been pushing for deeper spending cuts, something many Democrats have resisted.

Both sides remained dug in, and at midday Thursday Senator Harry Reid of Nevada, the Democratic majority leader, said he thought it was unlikely a compromise would be reached before Jan. 1.

With Wall Street tracking every turn of negotiations in Washington, shares tumbled after Mr. Reid’s remarks but recovered later in the day after reports the House would reconvene Sunday and take up the issue. The Standard & Poor’s 500-stock index fell 1.73 points, to 1,418.10, while the Dow Jones industrial average sank 18.28 points, to 13,096.31

While an eventual deal that blunts part of the effect is expected in the coming weeks, some fallout from missing the Tuesday deadline will be felt right away — including a two percentage point increase in payroll taxes as well as the end of unemployment benefits for more than two million Americans. All that has increased the uncertainty for individuals, who until recently had shrugged off the fiscal standoff in Washington ...... read more ===>

courtesy of:  http://www.nytimes.com 

Posted via email from RealtorPeg

Hmmmmm, Now What???

10 States With Highest Foreclosure Rates

Florida ranks as the state with the highest foreclosure rate in the nation for the third-consecutive month, according to the latest report from RealtyTrac with November foreclosure data. 

In Florida, one in every 304 homes received a foreclosure filing in November — more than double the national average. 

Nevada, the previous leader, has been coming in second over the past three months, but it also has seen a 54 percent drop in foreclosures year-over-year. 

The following are the top 10 states with the highest foreclosure rates in November: 

1.  Florida: 1 in every 304 homes received a foreclosure filing in November

2.  Nevada: 1 in every 390 homes

3.  Illinois: 1 in every 392 homes

4.  California: 1 in every 430 homes

5.  South Carolina: 1 in every 455 homes

6.  Ohio: 1 in every 458 homes

7.  Arizona: 1 in every 468 homes

8.  Georgia: 1 in every 494 homes

9.  Michigan: 1 in every 621 homes

10.         Indiana: 1 in every 684 homes

courtesy of:  http://realtormag.realtor.org/

Posted via email from RealtorPeg

Thursday, December 27, 2012

San Diego a Top Market for Steady Home Price Gains

Top U.S. markets

1) Phoenix, 13 months

2) San Diego, 9 months

3) Las Vegas, 8 months

4) Los Angeles, 8 months

5) San Francisco, 8 months

6) Denver, 7 months

7) Detroit, 6 months

Ranked by most consecutive months of home-price increases.

Source: S&P/Case-Shiller Home Price Index

Home prices in San Diego County have risen nine straight months, ranking the local market second nationally for most consecutive months of price increases in 2012, said a leading housing report released Wednesday.

Phoenix, where prices rose 13 straight months and foreclosures have waned, beat out San Diego for the top spot, based on data from the S&P/Case-Shiller Home Price Index, which tracks 20 major areas in the country.

"Phoenix went through a real difficult time where their values really, really went down, but it's certainly been rebounding" said Donna Sanfilippo, president of the San Diego Association of Realtors. "San Diego, being a steadier market, placing No. 2 in rebounding shows that we're leading our area after what has been a couple of rough years."

San Diego home prices rose 1.3 percent from September to October, marking the ninth straight month of increases, based on the report, which has a two-month lag. When comparing October to the same time last year, prices went up 6 percent, the biggest year-over-year increase for an October in seven years.

Phoenix and Detroit saw the largest year-over-year jumps in home prices in October, 21.7 percent and 10 percent, respectively.

David M. Blitzer, who chairs the index committee at S&P Dow Jones Indices, said we're continuing to see encouraging signs in the housing market, especially in certain parts of the nation.

“Looking over this report, and considering other data on housing starts and sales, it is clear that the housing recovery is gathering strength," Blitzer said.

"Higher year-over-year price gains plus strong performances in the southwest and California, regions that suffered during the housing bust, confirm that housing is now contributing to the economy," Blitzer added. "Last week’s final revision to third quarter GDP growth showed that housing represented 10% of the growth while accounting for less than 3% of GDP."

The report showed areas like Detroit, among the worst price performers in 2011, saw the biggest price rebound this year from its recession-time trough, at 24 percent. San Diego prices have risen about 12 percent since its lowest point, recorded in April 2009, Case-Shiller numbers show.

Twelve of the 20 areas in the index saw price drops from September to October but that's expected, Blitzer said, because historically prices tend to fall during the autumn. On a year-ago basis, only two of the 20 cities posted a price drop.

courtesy of:  http://www.utsandiego.com/news

 

Posted via email from RealtorPeg

California Foreclosure Inventory Declines in November

California foreclosure inventory – the total number of pre-foreclosures, properties in foreclosure that are scheduled for sale, and bank owned properties (REO)—declined 7.6 percent in November from October and is down 31.8 percent compared with last year, according to ForeclosureRadar. While the November decline in inventory is not an unusual event, the significant decline in foreclosure inventory over the past year has contributed to what some are calling an “inventory crisis” of total homes for sale.

The November foreclosure inventory shortage is partially due to the jump in California foreclosure cancellations. Cancellations in November rose 4.7 percent from October, up 69.9 percent in the past two months and up 34.7 percent compared with last year.  In taking a closer look at the reason for cancellations, it did not appear the majority were due to statutory time frames or filing errors, but were more likely due to short sales or successful loan modifications, according to the report.

California notices of default were down 19.9 percent from the prior month and down 51.5 percent compared with last year.  November 2012 California foreclosure sales were down 14.8 percent from the prior month and down 30.3 percent compared with last year. 

courtesy of: http://www.car.org

Posted via email from RealtorPeg

Wednesday, December 26, 2012

I Steal Dirty Socks!

California Median Home Price Experiences Highest Year-to-Year Increase Since June 2004

As the statewide median price continued to register double-digit gains from year-ago levels, strong sales of higher-priced homes led to a year-over-year increase in sales in California during November, C.A.R. reported Tuesday.

“Housing markets with higher-priced homes performed better in November compared with lower-priced areas. The negative impact of a lean housing supply on home sales is becoming more apparent, especially in markets with more distressed properties,” said C.A.R. President Don Faught.  “In lower-priced markets, home sales declined, whereas sales of mid- to higher-priced homes posted strong increases because there is a greater supply.”

Sales in November were down 4.9 percent from October but up 2.7 percent from November 2011. 

The statewide median price of an existing, single-family detached home increased 2.3 percent from October’s $341,370 median price to $349,300 in November.  November’s price was up 24.8 percent from a revised $279,910 recorded in November 2011, marking the ninth consecutive month of annual price increases and the fifth consecutive month of double-digit annual gains.  The year-to-year percentage increase was the largest since June 2004.

courtesy of:  http://www.car.org/

Posted via email from RealtorPeg

Tuesday, December 25, 2012

10 Christmas Light Tips to Save Time, Money, and (Possibly) Your Life

Here’s how to light up your Christmas light display safely and economically

1. Safety first. Emergency rooms are filled with home owners who lose fights with their holiday lights and fall off ladders or suffer electric shocks. To avoid the holiday black and blues, never hang lights solo; instead, work with a partner who holds the ladder. Also, avoid climbing on roofs after rain or snow.

2. Unpack carefully. Lights break and glass cuts. So unpack your lights gingerly, looking for and replacing broken bulbs along the way.

3. Extension cords are your friends. Splurge on heavy-duty extension cords that are UL-listed for outdoor use. To avoid overloading, only link five strings of lights together before plugging into an extension cord.

4. LEDs cost less to light. LED Christmas lights use roughly 70% to 90% less energy and last up to 10 times longer than incandescent bulbs. You can safely connect many more LED light strings than incandescents. Downside: Some think they don’t burn as brightly as incandescent bulbs.

5. Solar lights cost nothing to run. Solar Christmas lights are roughly four times more expensive to buy than LEDs, but they cost zero to run. They’re a bright-burning, green alternative. Downside: If there’s no sun during the day, there’s no light at night. The jury’s also still out on how long they last; they’re too new on the market for results.

6. Dismantle lights sooner than later. Sun, wind, rain, and snow all take their toll on Christmas lights. To extend the life of lights, take them down immediately after the holidays. The longer you leave the up, the sooner you’ll have to replace them.

7. Plan next year’s display on Dec. 26. Shop the after-Christmas sales to get the best prices on lights and blowups that you can proudly display next year. Stock up on your favorite lights so you’ll have spares when you need them (and after they’re discontinued).

8. Permanent attachments save time. If you know you’ll always hang lights from eaves, install permanent light clips ($13 for 75 clips) that will save you hanging time each year. You’ll get a couple/three years out of the clips before sun eats the plastic.

9. Find those blueprints. Instead of guessing how many light strings you’ll need, or measuring with a tape, dig up your house blueprints or house location drawings (probably with your closing papers) and use those measurements as a guide.

10. Store them in a ball. It sounds counterintuitive, but the best way to store lights is to ball them up. Wrap five times in one direction, then turn the ball 90 degrees and repeat. Store your light balls in cardboard boxes, rather than in plastic bags: Cardboard absorbs residual moisture and extends the life of your lights.

 Courtesy of:   http://www.NAR.org

Posted via email from RealtorPeg

Monday, December 24, 2012

Fannie Mae: Housing Market Has Turned The Corner

Home prices, sales and mortgage rates point to continued growth

Despite lower expectations for the economy's progress as a whole this quarter, home sale and price trends suggest housing finally represents "a tailwind to growth," according to a monthly economic outlook released today by Fannie Mae's Economic & Strategic Research Group.

"The housing market has turned the corner and a sustained recovery is under way," the report said, despite some significant challenges that remain ahead, including tight lending conditions, uncertainty surrounding mortgage regulations, and the fiscal cliff.

Home prices have seen strengthening year-over-year gains over the last several months and prices are expected to end the year on a positive note for the first time in six years, Fannie Mae economists said.

They projected the median price of an existing home would rise 4.2 percent on an annual basis in 2012, to $173,000. They expected the median price of a new home to increase 4 percent, to $236,000. Fannie Mae is projecting that median prices of both new and existing homes will rise an additional 1.7 percent in 2013.

Existing-home sales, new-home sales and single-family housing starts are expected to see substantial increases from last year. Fannie Mae predicts each will rise 9.6 percent, 19.5 percent and 25.7 percent, respectively, in 2012 compared to 2011. The mortgage giant expects further improvement next year with increases of 6.4 percent, 21.9 percent and 22.4 percent, respectively.

After falling to record lows this year, mortgage rates are expected to fall even further next year, boosting housing demand. Rates for a 30-year fixed-rate mortgage are projected to average 3.7 percent this year and decline to 3.4 percent in 2013 as a result of the Federal Reserve's continued efforts to keep a lid on interest rates.

Mortgage originations are expected to rise 25.2 percent this year to $1.87 trillion, but decline by 17.1 percent in 2013, largely due to a drop in refinance loans.

Purchase loans remained virtually flat this year, at $518 billion, but are projected to rise by nearly 15 percent next year to $595 billion. Refinance loans, on the other hand, saw an estimated 27.5 percent increase this year to $1.35 trillion and are expected to decrease by 29.3 percent in 2013, to $956 billion. Fannie Mae anticipates refinancings will drop to 62 percent of mortgage originations, down from 72 percent in 2012.

Homebuilder confidence rose for the seventh straight month in November, to a six-year high, the report noted.

"Residential investment has been a positive, albeit small, contributor to economic growth during the past several quarters and will add to growth on an annual basis this year for the first time since 2005," Fannie Mae economists said. "While the current contribution of housing to the economy is small, it is growing."

The mortgage giant anticipates an average 8.1 percent unemployment rate this year, followed by an average 7.5 percent rate in 2013.

While real gross domestic product grew 2.7 percent in the third quarter, Fannie Mae economists predict much weaker 1.5 percent growth in the fourth quarter, culminating in 1.9 percent growth for the year. That's a slight decrease from 2 percent in 2011. Economists anticipate a slight increase to 2.2 percent in 2013.

courtesy of:  http://www.inman.com/news

Posted via email from RealtorPeg

No Pressure On Mortgage Rates as Fed Continues Easing

Demand for purchase loans up 9% from 1 year ago

Mortgage rates remained at or near record lows this week as the Federal Reserve signaled that measures designed to keep a lid on interest rates will remain in place for some time to come.

Rates on 30-year fixed-rate mortgages averaged 3.32 percent with an average 0.7 point for the week ending Dec. 13, down from 3.34 percent last week and 3.94 percent a year ago, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. Rates on 30-year fixed-rate loans hit a low in Freddie Mac records dating to 1971 of 3.31 percent during the week ending Nov. 21.

For 15-year fixed-rate mortgages, rates averaged 2.66 percent with an average 0.6 point, down from 2.67 percent last week and 3.21 percent a year ago. Rates on 15-year fixed-rate loans hit a low in Freddie Mac records dating to 1991 of 2.63 percent during the week ending Nov. 21.

Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.7 percent with an average 0.6 point, up from 2.69 percent last week but down from 2.86 percent a year ago. Rates on five-year ARM loans hit a low in records dating to 2005 of 2.69 percent during the week ending Dec. 6.

For one-year Treasury-indexed ARM loans, rates averaged 2.53 percent with an average 0.5 point, down from 2.55 percent last week and 2.81 percent a year ago. That's a new low in Freddie Mac records dating to 1984.

Looking back a week, a separate survey by the Mortgage Bankers Association showed demand for purchase loans increasing for a fifth week in a row, to a level 9 percent greater than a year ago. But applications to refinance still accounted for 84 percent of all mortgage applications.

Mortgage rates are expected to stay at historically low levels for some time, as the Federal Reserve continues to buy up $40 billion in mortgage-backed securities issued by Fannie Mae and Freddie Mac each month.

Wrapping up a two-day meeting Wednesday, the Federal Open Market Committee issued a statement saying it will continue those purchases, and keep buying $45 billion in long-term Treasury bonds each month.

The committee said the Fed will continue purchasing mortgage-backed securities and Treasurys as long as the outlook for the labor market "does not improve substantially," although the size, pace and composition of the purchases will "take appropriate account of the likely efficacy and costs of such purchases."

The Fed is projecting that unemployment will average 7.4 to 7.7 percent in the fourth quarter of 2013, which would represent only a small improvement from the 7.8 to 7.9 percent projection for the same quarter this year.

The committee said the Fed intends to keep the federal funds short-term rate in the "exceptionally low range" of 0 to 0.25 percent for as long as the unemployment rate remains above 6.5 percent, and inflation projections for the next year or two ahead are no more than 2.5 percent.  

courtesy of:  http://www.inman.com/news

Posted via email from RealtorPeg