Million dollar mansions are a thing of the past, welcome to the era of million dollar bungalows- April 30, 2005 California Real Estate News: Forbes.com has a great article discussing how much real estate $1 million buys. Time was (and not so long ago), that seven figures could buy you something really special. A penthouse with amazing views. A stunning Hamptons home. A really, really great place in California. On the beach...But in nearly every corner of the U.S., the days of million-dollar mansions are, sadly, over. Welcome to an era of million-dollar bungalows, garden apartments and two-bedroom.http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/29/634179.html Latino home ownership in Southern California surges over past 5 years- April 29, 2005 California Real Estate News Inman Real Estate news reports on the results of a recent study finding that about half of all Latino homeowners in Southern California purchased their homes within the last five years. The study found that Latinos made up 31 percent of all households in Southern California and 25 percent of homeowners in 2003. The study was conducted by the Ralph and Goldy Lewis Center for Regional Policy Studies and was presented today at the Richard S. Ziman...http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/28/631239.html Southern California home appreciation slows while Northern California hits record prices and near record sales- April 28, 2005 California Real Estate News According to DataQuick Information Systems, the statewide median price paid for homes and condominiums last month was $421,000, up 3.4 percent from $407,000 in February and up 19.3 percent from $353,000 in March a year ago. The majority of the California real estate market is represented in Southern California which is showing signs of cooling as the average home appreciation rate dipped below 20 percent in Southern California for the first time in over a year. In...http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/27/628377.html An inside look at El Dorado and Placer County, two of California's wealthiest counties.- April 27, 2005 California Real Estate News Well for those of you familar with the Placer County and El Dorado County real estate markets, this should come as no surprise. El Dorado and Placer County show up as number 5 and 6 on the list of the wealthiest Bay Area counties, trailing behind the established Marin, San Mateo, Contra Costa and Santa Clara Counties. With income on the rise, we are also watching equity growth fly through the ceiling as well as overall new home sales. In a...http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/27/625704.html The State of the State of California Real Estate - 97.5% of cities showed increases in median home prices from 2004-2005- April 27, 2005 California Real Estate News According to the California Association of Realtors, the median price of an existing home in California in March increased 15.7 percent and sales increased 7.5 percent compared with the same period a year ago. The median price of an existing, single-family detached home in California during March 2005 was $495,400, a 15.7 percent increase over the revised $428,060 median for March 2004, C.A.R. reported. The March 2005 median price increased 5.2 percent compared with..http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/27/625551.html Frank Lembi - A San Francisco Real Estate Guru- April 25, 2005 California Real Estate News The SF Gate has a fantastic real estate success story featuring Frank Lembi, the 87-year-old founder of Skyline Realty and one of the City's biggest real estate moguls. To give you an example of the success of the Lembi family, they now own more than 150 buildings -- including three office buildings, five boutique hotels and 140 large apartment houses in virtually every neighborhood in San Francisco. Besides the corporation that owns the Villas Parkmerced...http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/25/618704.html Experts are mixed on whether buying is a good idea in an overheated market.- April 25, 2005 California Real Estate News California Real Estate is known for its great equity growth, but finding a property that you can place little to nothing down and break a profit on rents in one of these growing areas is a very tough find these days. So many investors are willing to take significant losses just to hope to recoup those losses through equity growth. The Sacramento Bee has a great article discussing rents in todays market and how they just won't pay the mortgage. The SacBee.http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/25/618072.html Lincoln, fastest growing city in California in 2002- April 23, 2005 California Real Estate News The California Department of Finance has announced that Lincoln had the state's fastest growth rate from January 1, 2001 to January 1, 2002 at a rate of 28.3 percent. Click here for a copy of the State Department of Finance press release making the announcement.http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/23/609860.html California Real Estate Boom - Panel of experts says the market is still hot- April 23, 2005 California Real Estate News CNN Money reports on the fast growing California Real Estate Market and a view from a panel of professionals. Speaking at the annual Milken Institute Global Conference, executives of KB Home, M.D.C. Holdings Inc and Starwood Hotels & Resorts Worldwide Inc and Equity Group Investments discussed the real estate market as one of the greatest property booms ever.http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/23/610083.html Bay Area Home Sales: Record Prices, Near-Record Sales- April 23, 2005 California Real Estate News: La Jolla, CA.----Home prices in the Bay Area rose to new highs in March as sales for that month were at their highest level in sixteen years, a real estate information service reported. A total of 11,310 new and resale houses and condos were sold in the nine-county region in March. That was up 51.5 percent from 7,463 for the previous month, and up 2.7 percent from 11,015 for March last year, according to DataQuick Information Systems.http://www.hotcaliforniarealestate.com/blog/_archives/2005/4/23/610074.html |