Kentucky Real Estate Business

Posts Tagged ‘California’

Everyone dreams of that perfect vacation, in an idyllic, stress-free, and clean location, with excellent accommodation and recreational facilities for the whole family. To most people, this scenario remains a dream, an eldorado. To the knowledgeable, it exists in reality. Can you picture in your mind’s eye what the original ‘Garden of Eden’, or ‘Shangri-La’ must have looked like? Then be ready to see the modern one. Welcome to Ojai, a small city in Ventura County, Southern California, USA. A most interesting place to have your next unforgettable vacation, the city has a population of about eight thousand souls.

This town is located less than twenty kilometers from the Pacific Ocean coast in Southern California, and within ear shots of the cities of San Buenaventura, Santa Barbara and Los Angeles. It is about fifteen minutes drive from San Buenaventura, and less than an hour by car from either Santa Barbara or Los Angeles. The location of the city within the valley of the same name, which is surrounded by hills and mountains on two sides, and a river running between, gives it a most scenic beauty.

The valley was given its name by the Chumash Indians who lived in it before it was settled by a Spaniard, Fernando Tico who built a ranch there in 1837. Ojai in Chumash language means ‘Valley of the Moon’. Fernando Tico sold his land holdings to some oil prospectors in 1853. The new land owners built a city and named it Nordhoff. The German sounding city name was changed to Ojai during the First World War in 1917.

The unsurpassed scenic beauty of this area makes it a veritable destination for movie sets and film festivals. The valley was the location for the famous 1937 Frank Capra film, ‘Lost Horizon’, which depicted the mythical utopia called ‘Shangri-La’.

This place is also the home of the Ojai Film Festival, which annually showcases independent films from around the world. The film festival holds every year in mid-summer. The scenic beauty of the area is further accentuated by the superlative efforts put in the environmental development of both the city proper, and its surrounding countryside by the city authorities. As proof of their determination to maintain the town as the ultimate destination for every stressed out big city dweller, and keep the metropolis spotlessly clean, the city council has instituted a two day street cleaning exercise per month. All cars are moved off the city streets and side-walks, while both roads and drains are given thorough scrubbing.

As if to take a cue from the city council, Ojai hotels are a beauty to behold. From the rustic country style cottages to the most modern, elegant, well appointed architectural styles, all hotels are pleasing to view. The interior of each hotel is most comfortable and tastefully furnished. All types of accommodation are provided by Ojai hotels. From the cheap but comfortable single room, to two or more bedroom apartments, right up to suites and condos. Your choice of accommodation is limited only by the size of your purse, or the depth of your pocket. The Topatopa mountains on the north side and the Sulphur mountains to the south, enclose the valley, which is drained by the Ventura River. Every evening, just before sunset, you can watch the surreal beauty of the hallow cast over both valley and city by the brilliant shade of pink on the Topatopa Bluffs. Ojai City is one vacation destination you will remember for a long time after your first visit.

Every year, the United States Census Bureau publishes data for population shifts between incorporated cities with more than 100,000 people. For cities within California, the top 15 are ranked below based on the percentage increase in population from July 2005 to July 2006.
1. Lancaster . Located about 70 miles north of Los Angeles, Lancaster achieved the largest percent growth from 2005 (population = 134,106) to 2006 (140,804), resulting in a 4.99% change.
2. Bakersfield . Located between Los Angeles and Fresno, Bakersfield had a 2005 population of 295,769 and a 2006 population 308,392. This is a 4.26% increase from 2005 to 2006.
3. Visalia . Located just south of Fresno, Visalia had a 2005 population of 109,433 and a 2006 population of 113,487. This is a 3.70% increase from 2005 to 2006.
4. Irvine . Located in the heart of Southern California, Irvine had a 2005 population of 187,457 and a 2006 population of 193,956. This is a 3.46% increase from 2005 to 2006.
5. Fontana . Located in the heart of San Bernardino County, Fontana had a 2005 population of 164,468 and a 2006 population of 170,099. This is a 3.42% increase from 2005 to 2006.
6. Elk Grove . Located just south of Sacramento, Elk Grove had a 2005 population of 125,293 and a 2006 population of 129,184. This is a 3.10% increase from 2005 to 2006.
7. Palmdale . Located just north of Los Angeles, Palmdale had a 2005 population of 134,650 and a 2006 population of 138,790. This is 3.07% increase from 2005 to 2006.
8. Moreno Valley . Located in Riverside County, Moreno Valley had a 2005 population of 178,272 and a 2006 population of 183,571. This is a 2.97% increase from 2005 to 2006.
9. Santa Clara . Located south of Silicone Valley, Santa Clara had a 2005 population of 105,778 and a 2006 population of 108,518. This is a 2.59% increase from 2005 to 2006.
10. Simi Valley . Located north west of Los Angeles, Simi Valley had a 2005 population of 118,671 and a 2006 population of 121,288. This is a 2.20% increase from 2005 to 2006.
11. San Jose . Located in the heart of Silicon Valley, San Jose had a 2005 population of 915,668 and a 2006 population of 929,936. This is a 1.55% increase from 2005 to 2006.
12. Riverside . Located in Southern California, Riverside had a 2005 population of 290,417 and a 2006 population of 293,761. This is a 1.15% increase from 2005 to 2006.
13. Roseville . Located just north of Sacramento, Roseville had a 2005 population of 105,946 and a 2006 population of 107,158. This is a 1.14% increase from 2005 to 2006.
14. Fresno . Located between Bakersfield and Stockton, Fresno had a 2005 population of 461,454 and a 2006 population of 466,714. This is a 1.14% increase from 2005 to 2006.
15. Stockton . Located south of Sacramento, Stockton had a 2005 population of 287,069 and a 2006 population of 290,141. This is a 1.07% increase from 2005 to 2006.
Increases in population have many implications for society. For a complete ranking of population changes, visit the United States Census Bureau’s site.

California real estate is the most sought after and expensive real estate in the United States. It has a wide variety of diverse properties, from condos to vacation homes to single-family residences to apartments. Therefore, while searching home or commercial property in California, having real estate professionals by your side will make your search easier.

Generally, real estate professionals in CA include real estate agents, realtors, mortgage broker, and mortgage lender. Buyers and sellers more often need them at the time of buying or selling.

1. Real Estate Agents

A Real estate agent is either a person or an organization whose business is to market real estate on behalf of clients. There are buyer’s agent, seller’s agent and dual agents who work for both seller and buyer. Their main function is to look for suitable houses, negotiate price and terms on behalf of both, and prepare a standard purchase or selling contract.

2. Realtors

They work with their customers to define their needs and identify suitable alternatives. They are the total real estate solution providers starting with identifying the property to closing the deal.

3. Mortgage Broker

These professionals have specialized in the entire loan processes and help their customers in getting the best loan to fit their needs. They are either companies or individuals who work closely with mortgage lenders to provide a wide variety of loan schemes to their customers. They act as a mediator between mortgage lender and customer. They are ready to assist you with your lending needs. They will help you through the process and requirements-from home inspection to insurance.

4. Mortgage Lender

They are the companies who actually finance the loan to the customers through the brokers. In the past, lenders were almost banks and saving& loan associations. Due to their limited options in lending, many different types of lenders have joined in this field. Today, most mortgage bankers act as wholesale lenders. They offer loans at a lower rate of interest than banks. Mortgage brokers deal with these lending institutions that have wholesale loan department for their customers.

Hence, it is a team work of all agents, realtors, brokers and lenders to provide better service to their customers. By effectively using their own resources, they can co-ordinate with

While bed and breakfast means anything from staying in someone’s spare room to a lavish waterfront condo, careful research will help you find just the right bed and breakfast for you.

The truth is bed-and-breakfast inns vary wildly from house to house and from inn to inn, and it makes good sense to do some research on the property you’ll be visiting. We all have our preferences and it’s not hard to find a bed-and-breakfast that will suit your particular tastes. In our case, we’ve always preferred the bed-and-breakfast that is more inn than house, more private than communal. And here are a few of the bed-and-breakfast stays we have enjoyed the most:

Casa Tropicana Inn

If you want to tie in a beautiful Southern California beach with your bed-and-breakfast experience, the Casa Tropicana Inn in San Clemente is the place to go. Situated across the road from a gorgeous beach and San Clemente Pier, Casa Tropicana really couldn’t be in a better location if the main purpose of your getaway is relaxation.

Known as the beach community where former president Richard Nixon had his Western White House, San Clemente is an oceanfront city of red-tile-roof Spanish style homes built with commanding views of the Pacific on land that almost seems like it was created to provide homeowners the best panoramic views on the Southern California coast. Spanish-named streets wind and weave their way down to the waterfront below where one of the most charming areas is the tiny enclave of shops, restaurants and vacation properties next to the San Clemente Pier.

It’s there that you find the Casa Tropicana Inn, a five-story inn that is ideal for couples and fits right in with the Mediterranean motif of this quaint beachfront area. Each of the eight guest rooms is designed with many special attributes that include romantic touches like fireplaces, over-size Jacuzzi tubs, the highest quality linens and bed treatments and cozy robes, as well as more practical amenities such as refrigerators, flat screen televisions, DVD players and high-speed internet. Beyond that, the rooms each have individual amenities such as the ocean views and four-poster bed in the room we enjoyed called the Casita Arena.

We especially enjoyed the second-floor terrace just in front of our room that features tables where you can enjoy a cocktail or chairs where you can read a good book, all with the beach, pier and seemingly endless ocean horizon in full view.

Although the service in general was excellent, the Casa Tropicana is not where you go to have your innkeeper prepare a gourmet breakfast. In fact, the inn’s breakfast is continental style with pastries, yogurt, orange juice and various snacks available for you anytime in the room. Even wine and champagne were available for us anytime and, unlike most mini-bars, these came at no extra charge.

But gourmet food is not very far away: On the first floor of the inn you’ll find the White Horses Restaurant and Bar which boasts numerous dining awards, including being named the best gourmet restaurant in Orange County. Based on our dinner, we completely agree with the judges.

Our time spent in this beautiful beachfront environment was a feast for the senses – unbelievable views, small markets, sidewalk cafes, long beach walks and upscale shopping only minutes away in downtown San Clemente. Friends who joined us on this getaway also pronounced the Casa Tropicana the ideal couples getaway.

For more information on the Casa Tropicana Inn, phone 800-492-1245 or visit www.casatropicana.com.

MacCallum House

When you visit Mendocino for the first time, this Northern California seascape just reaches out and touches your spirit. Perched high on a bluff overlooking the vast Pacific, Mendocino is not a big town – it’s just what you might imagine a New England fishing village to look like. The town has a mixture of Cape Code homes and historic buildings, making it almost look like a theme town. Windswept trees, rolling grassy hills and steep cliffs are footsteps from the Village by way of several miles of coastal trails that are perfect for hiking and photography. Down below are remote beaches and the cragged, rocky shoreline.

In the Village you’ll find a variety of eclectic shops – unusual records, one-of-a-kind musical instruments, vintage toys, you name it — mingled with historic homes, inns and fine restaurants. One of those homes is the popular MacCallum House bed-and-breakfast inn, which has a strong connection with Mendocino history. The house was built in 1882 by Alexander MacCallum, a relative of one of the town’s first settlers. Eventually the house was turned into a bed-and-breakfast inn

Our stay at MacCallum House was quiet and restful, and gave us a great chance to just walk down the block to visit the local merchants or to hike on over to the headlands where the trails offer breathtaking views of the coastline and the town itself. We stayed in the “Upper Barn Suite,” a second-floor unit in a building across the lawn from the main house. This is the largest room on the MacCallum property and enjoys views of the ocean. The unit features a private deck as well as a stone fireplace, wet bar, refrigerator and a large living room in addition to the bed, bath and kitchen areas. Furnishings are generally antique ‘ or approaching antique.

Of course, dining at MacCallum House is a big part of the treat and, fortunately, we elected to have dinner there in addition to the breakfast that normally comes with your room. Both meals were well up to expectations. Breakfast might include a Butternut Squash Omelet or Red Potatoes with Cremini Mushrooms or, the entree we tried, Lupe’s Breakfast Burrito, a delicious combination of apple-turkey sausage, scrambled eggs, white cheddar, onions, peppers and salsa on a fresh tortilla. Most of the dinner menu items highlight entrees that are regional and fresh.

You’ll want to walk off those ample portions and there is no shortage of places in and near Mendocino to get some exercise. In addition to the previously mentioned trails, there are lots of areas where you can walk by rivers and streams and even enjoy Redwood forests.

For more information on MacCallum House, phone 800-609-0492 or visit www.maccallumhouse.com.

Whispering Pines Lodge

Those people raised on TV westerns like Bonanza will feel like they’ve stepped right onto the Ponderosa when they take the one-hour drive northeast from Bakersfield to the town of Kernville. There’s good reason: dozens of TV and movie westerns have been filmed in the immediate vicinity.

We spent a couple of nights in Kernville at a place that we would consider a “find.” While most lodgings in town seem to be rather typical motel units, we stayed at one of three bed-and-breakfasts in town, the Whispering Pines Lodge. The Whispering Pines is a series of wood-frame buildings, each with several separate units. Our room was nicely appointed for a lodge that felt like it was out in the wilderness ‘ modern cedar and oak furniture, a king bed, double vanities in the bathroom, hardwood floors, framed paintings and flowers strategically positioned throughout the over-size room. The curtains opened to reveal a woodsy view of the riverfront, a deck with table and chairs and, of course, a panoramic view of the churning Kern River.

The constant sound of the river reminded us of a riverfront cabin we once owned and this just bolstered the feeling that we had truly escaped from the city. Downtown Kernville was perhaps just a quarter mile away but we felt like we were holed up in our own remote mountain cabin. It was ideal for relaxation — or just reading a good book — and we also loved walking the local trails.

After a restful night’s sleep, we discovered one more reason that the Whispering Pines fills up quickly on weekends for the full breakfast that is served, buffet style, every day of the week. Bed-and-breakfasts seem to run the gamut from those offering a roll and some coffee to those priding themselves on both the quality and quantity of food they present. The Whispering Pines falls into the latter category with its bacon, sausages, eggs, pancakes, biscuits and gravy, quiche, fruit, rolls, juices and coffee all served up tasty and fresh in an atmosphere that encourages you to go back and fill your plate again.

For more information on the Whispering Pines Lodge, phone 877-376-3733 or visit www.kernvalley.com/whisperingpines.

Known as one of the best vacation destinations in the country due to its sunny weather, amazing attractions, and miles of gorgeous sandy beaches, San Diego, California is an absolute must-see for any discerning traveler. Outdoor adventures abound along the breathtaking terrain and the numerous attractions in this city are some of the most famous in the world. Come to San Diego the next time you are in Southern California and experience what all the buzz is about.

The beaches of San Diego are renowned for being some of the most beautiful and scenic along the California coast, and with so many to choose from, you could end up spending your entire vacation lounging in the sand. While all the beaches have something to offer guests, Mission Beach and Coronado Beach are two can’t-miss options that will take your breath away. Mission Beach is the perfect place for surfing, swimming, and kayaking in the water and people-watching, biking, and roller blading along the boardwalk. Sunbathing on the weekends and watching the various people go by is always a popular activity since the local flavor of exotic pets and numerous tattoos and piercings comes out.

Coronado Beach is accessed via the San Diego Bay Bridge and is worth the excursion due to its elegant, upscale surroundings. While the beach is the ideal place for swimming, sailing, and sunbathing, the nearby homes, restaurants, and boutiques mean you could spend an entire day on the island without a dull moment. It is important, however, to return to the beach at sunset so you can soak in the amazing views of San Diego and the Pacific Ocean.

If you want to view more of san diego’s gorgeous terrain, head over to any of the local parks for outdoor activities and noteworthy sights. Los Peñasquitos Canyon Preserve is an interesting and exceptional park with its 37 miles of multi-purpose trails that take visitors past rare plant and animal species in 14 different habitats. Another great option is the Tri-Canyon Park System, which is comprised of three parks, Marian Bear Memorial Park, Rose Canyon Open Space Park, and Tecolote Canyon Natural Park & Nature Center, that are perfect for bird-watching, hiking, and biking.

Probably the most famous of all of San Diego’s attractions is the San Diego Zoo. Known throughout the world as a top-notch zoo, it attempts to recreate the natural habitats as closely as possibly for the more than 3,800 animals and 800 species that live on its 100 acres. All the exhibits are impressive so plan on spending an entire day trekking around the park, experiencing the many exciting tours and activities this amazing attraction has to offer.

If you or your family craves more animal activities even after your visit to the San Diego Zoo, make your way to the SeaWorld Adventure Park. Here you can see Shamu the killer whale, of course, and a variety of other animal life such as polar bears, manatees, and dolphins. The animal-themed shows are usually the most thrilling and exciting part of the experience for kids, so make sure you at least catch the Shamu show extravaganza where he lives up to his reputation as a true showman.

When searching for the best shopping or dining in the San Diego area, head over to the Gaslamp Quarter to see a lively neighborhood that blends food, fun, and culture in one of San Diego’s most historic areas. Surrounded by Victorian-style buildings, you can stroll the streets and stop by fine art galleries, unique stores, and specialty shops to get a taste for the local flair. And when your stomach begins to call out to you, there are over 90 restaurants waiting to meet your needs and serve you food from all around the world.

With so much to see and do in San Diego, it is important to choose accommodations that make it easy to experience every part of San Diego that interests you no matter how long you are staying. With San Diego vacation rentals, you can make your home base in just about an area or neighborhood so those attractions that appeal most to you are within sight or walking distance. Whether you prefer to feel a cool breeze off the water after you awaken or you want to be near the entertainment and dining options of the Gaslamp Quarter, the perfect home or condo rental is waiting for you to snatch it up right now at GreatRentals.com.

The California Real Estate market is one of the fastest paced and vibrant in the world. Nowhere else is property traded so fiercely and competitively and at such high stakes as in this state.

A recent report on the number of house sales in California, which was released in December of 2007, showed that more than 25,000 condo units and houses–both brand new and resale–changed hands in that month. As impressive as that figure is, it was in fact virtually unchanged from the house sales figure in November, and is actually down more than 40% from November of 2006, when house sales registered at 43,400. Records show that there has been a steady decline in house sales over the past 27 months, and that December’s sales were the lowest for that particular month ever since records were first kept in 1988.

Median prices for houses also went down almost 3%–or to just over $400,000 in December–from about $412,000 in November. This price represents an almost 15% decline from December of 2006, when the median price of houses was about $472,000. The peak in median house prices was reached in the period of March to May last year, when the price of houses averaged around $484,000.

This drop in median house prices can be explained mostly by the slow sales of high priced properties, which in itself is the direct result of instability in the credit industry. 17,500 homes purchased in California in December 2007 were bought with conforming loans amounting to $417,000, which is a huge decline of almost 30% from December of 2006, when the number of houses bought with the same loan amounted to almost 25,000. With regard to jumbo loans, 4,600 houses in California were purchased for more than $417,000 in this manner, which is a decline of a whopping 70% from December 2006, when houses purchased number more than 15,000.

Other signs show that the real estate market in the state continues to move in different directions. Property foreclosures are at an all time high (we will discuss this in further detail later on in this article), and both adjustable-rate mortgage and multiple mortgage financing has declined drastically. At the same time, down payment values as well as flipping rates have remained fairly constant, and buying activity by owners who do not occupy the properties in question is on the rise.

In Southern California, the extremely low level of house sales in December 2007 has caused many in the real estate industry–sellers, buyers, and lending institutions included–to watch the market closely. While the number of new houses sold in Riverside, Los Angeles, San Diego, San Bernardino, Orange County and Ventura went up .5% from the previous month–about 13,200 from slightly more than 13,100 in November–this still represented a steep 45% decline from the same period the previous year, when houses sold numbered slightly more than 24,200.

One real estate industry analyst has declined to make any forecasts or predications about which way the market will go in the next few months, saying that the present instable condition of the market has made it impossible to predict which way things will go. Many experts agree however that the real estate market will stabilize soon and that a clearer picture will emerge. Until then both buyers and sellers are keeping a watchful eye on the proceedings.

We mentioned earlier that foreclosure activity is on the rise, and indeed during the last quarter of 2007, mortgage default notices were at its highest level in 15 years. Much of this increase in foreclosed properties goes hand in hand with depreciation of home values. Many homeowners have suddenly found themselves in a position wherein they owe more on the mortgage than what the property is actually worth on the market. A large number of those who have been forced into foreclosure may have felt the pressure of high mortgage rates, the loss of income or even the need to move to another state.

One factor that can explain this phenomenon is the decline in median house prices from a high of $484,000 in March of 2007 to just slightly above $400,000 in the latter part of the year. Although this decline was perhaps partially caused by the shift in the type of houses that were sold, this would have undoubtedly still had a significant role to play in the increase of the number of homeowners who were forced to default on their mortgage loans.

Get ready Arnold, because Indiana is about to crush California. I’m not talking about violent fighting, I’m talking about a better place to live. Sure, California has some of the most beautiful coastlines in the world. And yes, they may have some of the most gorgeous beaches and it is home to some of the world’s most famous celebrities. Not to mention the breathtaking views of mountains and the fact that Las Vegas is only a short car ride away. Indiana has the power to veto all those great things about California because of Indianapolis’s Real Estate affordability.
Known as the crossroads of America, Indiana lies in the heart of the Midwest. Indiana is saturated with lakes and rivers and the beauty that comes with the four seasons of the year. Indiana is also home to Indianapolis, which is located in the middle of the state. That may not sound like a big accomplishment, but the Indianapolis Real Estate Market was in fact the most affordable housing market in America in 2006.
The National Association of Home Builders and Wells Fargo released a survey in November 2006 that named Indianapolis the most affordable housing market in America. It also named California the least affordable state in the country. According to the survey, 40.4 percent of existing and new homes that were sold were affordable to the families who were making $59,600, which was the United Stated median income of that time.
The Housing Opportunity Index released by NAHB and Wells Fargo measures the number of homes sold in any given area that are affordable to families who are earning that particular area’s median income. In order to be considered affordable, the actual housing expenses, which include property taxes, insurance, and mortgage payment, must not exceed 28 percent of the income. The Indianapolis Real Estate Market, particularly the housing market, was voted the most affordable in the country, which is quite an accomplishment.
In and around Indianapolis, an astonishing 86 percent of homes that were sold in 2006 were sold at or below the city’s median income which was $65,100 in 2006. So, someone earning the city’s median income could afford to buy 86 percent of the homes that were sold. That statistic alone makes the Indianapolis Real Estate Market a very attractive place.
On the other hand, a mere 1.8 percent of all the homes sold in Las Angeles were affordable to the people earning the city’s median income, which was $56,200. Sorry Arnold, the statistics speak for themselves and the statistics deem Indianapolis Real Estate very affordable for its citizens. Oh, I forgot to mention that Las Angeles is not the only city in California that was on the least affordable list. Santa Ana, Anaheim, Irvine, Modesto, Stockton, San Marcos, Carlsbad, and San Diego are the other big cities in California that accompanied Las Angeles on the list.
The Indianapolis Real Estate Market is attractive to anyone who wants to be able to own their own home comfortably and maintain a high quality of living. However, California is definitely the location for those who feel like struggling to make their mortgage payment every month. Hey, you always have the views and the short drive to Las Vegas!

The foreclosure tsunami in California continues unabated. More foreclosures were started in California during the second quarter of 2007 than any comparable period in over ten years. We need to go all the way back to 1997 to see such record volume of foreclosures within the state. What has caused this tsumani? It has been caused by the “perfect storm” of depreciating home prices, anemic sales, re-setting adjustable rate loans, and the mortgage meltdown in the financing sector.

When we analyze the statistics, we can see that the vast majority of the loans that went sour were originated by lenders between the summers of 2005 and 2006. If you remember those halcyon days, real estate appreciation was still in double-digits and we were experiencing the tail-end of historically low interest rates. As a result, lenders liberalized their guidelines to maintain high loan volumes. But because interest rates had risen, lender utilized adjustable rates mortgages with artificially low “teaser rates” to qualify more borrowers. Property owners took advantage of those loosened guidelines and teaser rates to obtain loans in record numbers. Its those teaser rates, now adjusting up to higher market rates, that are causing the tsunami of foreclosures we are experiencing today.

Keep in mind, there are 8.4 million houses and condos in California. The vast majority of those properties are financed by mortgages that are current and continue to be current.

Nevertheless, the loans that did fall into default last quarter were mostly originated between July 2005 and August 2006, which was at the height of the mortgage frenzy. The median price paid for a California home purchased during that period was $460,000. In contrast, the median price paid for those properties where mortgages went into default last quarter was only $445,500. (This discrepancy is caused because there is a lower default rate with higher valued properties.)

The median mortgage for those properties is $342,000, and their mortgage payment is approximately $2,225 per month. Homeowners were five months behind on their payments (up from three months) when the lender started the default process. The borrowers owed a median $11,126 in unpaid mortgage payments. In other words, once the foreclosure starts, the borrower has the choice to either “reinstate” the loan by paying the $11,126 arrears, or “redeem” the loan (later in the foreclosure process) by paying the loan balance (i.e. $342,000) and the arrearage (i.e. $11,126). Obviously, reinstating is preferred to redeeming.

The median age of these defaulted loans is 16 months, which corresponds to the peak of loan originations in August of 2005. And, as we all know, the primary loan utilized for purchasing home during that period was the

1. Notices of Default.

The first step in the foreclosure process in California is the recording of a Notice of Default (“NOD”). There were 53,943 Notices of Default recorded in the second quarter of 2007 (April to June). That is a shocking number in itself, but even more devastatinging when you consider that it was 15.4% increase from the previous quarter, and up an earth-shattering 158% compared with the same quarter of 2006.

This was the highest levels we have seen in California since 1996, when foreclosures were at their worst. In 1996, for those of us that remember those dreadful days, 61,541 foreclosures were started. The lowest level recorded was in the third quarter of 2004, when only 12,417 NODs were filed.

Although 53,943 default notices were recorded in California last quarter, only 50,901 properties were affected. How is that possible? Many homes are financed using more than one loan, what are called “piggy-back” loans. Utilizing multiple loans on the same property helps homeowners avoid mortgage insurance. That is up 162.8% from the second quarter of 2006.

The default numbers reflect wide regional differences. The second-quarter numbers were a record in Riverside, San Bernardino, Contra Costa, Sacramento and most Central Valley counties. However, in Los Angeles County, the state’s largest, it was still less than half the first-quarter 1996 peak. This reflects the depth of the recession in the mid-1990s, as well as the relative strength of today’s housing market. At least so far

In April 47,250 new and resale houses and condos were sold in the state of California. That’s down from 54,500 in March which is a drop of 13.3%. April of 2005 was one of the strongest months for real estate in California’s history. What a difference a year makes. Sales were down 21% from last April. Even though sales were down, prices were not.

In April of 2006, prices were up 10.2% from the same period a year ago. The average price of a home in California now is $562,380. Nearly 85% of the cities in California have shown an increase in prices since the same period last year. Since California trends are so important to the Real Estate market, the Real Estate market there is being watched very closely.

One market that is watched closely is the luxury home market. The feeling is in a market downturn, the luxury market will be one of the first markets to suffer. So what is happening in the luxury market in California? Lets take a look at these markets in Los Angeles, San Diego, and San Francisco.

In Los Angeles values rose 0.1 percent from the previous quarter and 12.4 percent from a year ago. In Los Angeles the average luxury home was priced at $2.29 million.

In San Diego prices rose 0.9 percent from the previous quarter and 6.8 percent from a year earlier. The average luxury home in San Diego priced at $2.1 million. San Diego as a whole has been one of the most overheated markets in California, so the fact that luxury home prices continue to hold up there may be good news for the rest of the homeowners in San Diego for now.

In San Francisco prices were up 1.6 percent from the previous quarter and up 8.6 percent from the same period of time last year. The average price of a luxury home in San Francisco is $2.92 million.

So what direction is the California Market moving? There are investors cashing in on their profits and getting out, however most homeowners are not investors. Investors poured into lower priced markets during the recent boom and areas in Florida and Arizona have many residential investors. The market has started to reflect this. In Phoenix the real estate market is pulling back due to rising inventory from investors trying to cash in, however at this point you couldn’t call this a bust. In other areas of the country prices are still inching up.

In California the market is returning to normal conditions. It will take longer to sell a home and prices may stay flat or increase slowly.

So far the signs of market stress that would indicate a bust are not there. Down payments remain stable and speculation buying is moderate. The default rates are up, however these rates are still low.

California is, no doubt, the jewel on the Pacific coast of USA. It has enchanting natural beauty and abundant resources that have attracted thousands in search of a better life. California real estate investing, therefore, is the ideal way to capitalize on the great opportunities available in the state.
California has all the ingredients that make it attractive to those who wish to move in there. It offers a sophisticated urban lifestyle, great educational opportunities from kindergarten through university, good business environment, recreational facilities and artistic avenues. From the sun-kissed beaches of San Diego to the studios of Hollywood and the digital revolution spurred on in the Silicon Valley, all represent a fine blend of natural endowment and human ingenuity. The state’s population is multi-ethnic and the humming cultural scene reflects this trend.
Whether you wish to make California your home or earn returns that are inflation-proof, California real estate investing is one decision you would never regret.
The instant image that strikes one when discussing real estate in California is of the multimillion-dollar mansions of the rich and famous. Majestic in size and design and lavish in detailing, these homes represent the ultimate in luxury that money could buy. Does that mean a small investor can never buy property in California?
The answer is an emphatic no. Here are a few things one should keep in mind while scouting for California real estate investing opportunities.
• Localize your search and narrow down your criteria in specific terms, as it would make you focus only on those properties that meet your budgetary and other constraints. Not doing so would mean getting lost in the plethora of tempting properties that are well, not affordable by you.
• California has a well-regulated real estate industry. The real estate agents and brokers work under license from the state administration. Tie up with an experienced agent who has a large number of property listings to offer you.
• Look for properties in locations with good growth potential. They would be cheaper to buy but would show considerable appreciation later on. Inspect several housing options like single homes, condos, units and apartments. For commercial property, think of the business potential in the area. Arrange for an objective inspection to bring out the negative aspects, if any, in the property. In short, do thorough research before choosing the property.
• Familiarize yourself with the regulations governing real estate transactions. These formalities are meant to remove misconceptions and provide transparency in dealings. Never attempt to bypass any regulation for the sake of convenience.
Copyright © 2006 Joel Teo. All rights reserved.

Can you imagine the luxurious treatment that you will be getting there? You can enjoy the magnificent scenery in the lap of nature, with plenty of space around you. Far away from those hectic work schedules, nagging calls, overflowing inboxes and packed car jams, feeling the ecstasy, unwinding yourself completely. These are the golden memories that will be cherished by you and your family for years. Let us find out, what all California cabins have in its bag for you.

The very name of the place California is derived from a storied paradise, ruled by Queen Califia. And it truly is a paradise to visit. It is the third largest state of United States of America. Arriving back at our point of concern, California cabins come in all sizes and you can make a choice as per your requirement. The price range also depends upon the same. You can opt from small cozy place to rustic cabins and vacation home to big luxurious cabins. With proper search you can choose among a 1 bedroom cabin to a cabin having 10 to 12 bed rooms. You will have laundry facility, kitchen, attached pool, parking lot and several other amenities, as well.

You can stretch your self for hours tuning to your favorite music. Moreover, the situation of California cabins is designed near all the tourists’ destination and shopping arena. So much of your time will be saved from traveling. With kitchen facility, you can cook dainty dishes anytime you like; no need to rush any where. You can enjoy magnificent scenery at California cabins. All this makes California cabins an ideal alternative for many. The leisure it offers to the tourists is impeccable. It is a more soothing option than hotels, as far as, your pocket is concerned.

You can find everything from a secluded place to a romantic candlelit dinner. All in all, it offers highest level of comfort. With apt search you may confront outdoor adventure trips, accommodations and recreational activities, which may include golf, skiing, river rafting, horse riding and so on.

With California cabins, you can enjoy superb climate. It offers the best beach vacations for all. One can have best times indulging themselves in kayaking, sailing, hiking, surfing and much more. All it requires is some of your effort; explore World Wide Web. There you will find innumerable home owners, offering California cabins at ostensible prices.