Wednesday, February 15, 2006

San Diego's Inventory Up 715% From Last Year

Realtors suggest clients sell now rather then in a few months. "There were 16,464 homes on the market Wednesday, according to www.ziprealty.com, a Web site that keeps inventory and sales statistics. That's up from March 2004's all-time record low inventory of 2,301 homes." Realtors also notice trends they haven't seen since the 1990s.

Voice of San Diego - "You Sell, Me Sell, We Sell" (2-10-06)

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

Thursday, February 09, 2006

California Foreclosure Activity Up

DataQuick Real Estate News reports 14,999 default notices sent to homeowners up 19% from the third quarter. A few cities saw a larger increase then others:

Los Angeles: 10.7%, Orange County: 34.2%, Riverside: 43.1%, San Francisco: 45.2%Sacremento: 31.4%. See article for complete numbers by region.

DQNews.com - "California Foreclosure Activity Up" (2-2-06)

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

Wednesday, February 08, 2006

C.A.R Releases Foutrth Quarter Numbers

C.A.R. president sites consumer fear of rising interest rates for a decrease of -17.6% in home sales from prior year. Median home price still up 15.6% statewide from last year but month November to December numbers show 0% growth in home sales and -.08% for condos. However, notice Santa Barbara numbers compared to any number in Southern California. Holiday slowdown or shift in market?

C.A.R. - "Median price of a home in California at $548,430 in December, up 15.6 percent from year ago; sales decrease 17.6 percent" (1-25-06)

For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.
Sacremento Home Sales Decline 57%

Fluke in data? UCLA specialist not sure numbers are correct. Data shows significant plunge in Sacremento sales.

Sacremento Bee - "Sales of new houses fall 57%" (1-13-06)

Less then a month later, the same Sacrememnto newspaper publishes article on the number of default notices increasing. Sacramento posts highest defaul numbers in three years.

Sacremento Bee - "Default Notices on the Rise" (2-6-06)
Top Builders - "Beginning of the End"

“This is the beginning of the end of the housing bonanza.” - David Hill, CEO of Kimball Hill Homes
“I'm worried.” - Larry Webb, CEO of John Laing Homes
“I'd be surprised if the market [for starts] is off by more than 10 percent next year.” - David Weekley—chairman of David Weekley Homes

Quotes taken from a Las Vegas builder convention. Builders are expecting a rise in construction costs and a softer market. Toll Brothers has cut forecast for this year. Have builders learned from the mistake of the builders in the last bust cycle?

Builder Online - "A Cautionary Tale" (12-1-2005)
Moving Inventory in a Cool Market

Builders are offering more incentives to move properties. Incentives range from home upgrades (wood floors, granite countertops, etc.) to plasma TVs, to leases on vehicles, to full vacations! Article sites that 56% of NAHB are now offering non-price incentives. A finiancial advisory team says incentives have doubled in the Sacremento area to an average of $8,965 in the forth quarter. See article below:

CNN Money - "Extreme Home Selling" (1-16-06)



For more information about The Norris Group's California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor event calendar. You'll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.