A Daily Shot of News

The Ocean Beach real estate market, a subsidiary of the larger San Diego County housing market, continued to rally in the past several months. According to a May 25, 2010 article in the Voice of San Diego, “There’s no doubt housing prices have come roaring back this year. New numbers released this morning showed San Diego County home prices rose again in March – marking the 11^th straight month they’ve been headed up.” The piece, composed by Kelly Bennett, went on to state that “Local prices rose 10.8 percent between March last year and this March – when buyers scrambled into the market to take advantage of an expiring federal tax credit. That was the second largest increase in any of the 20 cities measured in the Standard & Poor’s Case-Shiller home price index, a closely watched indicator for the housing market. On a month-to-month basis, March’s prices showed an increase of 1.5 percent from February.”

The increase in median price for Ocean Beach homes for sale sent the average price to the highest level in more than a year and a half. According to a June 14, 2010 article from the San Diego Union-Tribune, “San Diego County home prices, which were falling at double-digit rates a year ago, are now rising rapidly as investors grab the last remaining bargains and upper-end buyers find deals to their liking: MDA DataQuick reported Monday that the May median price stood at $340,000, up 4.5 percent from April and up 15.3 percent from a year ago.” The piece, composed by Roger Showley, continued to note that “It as the eighth straight month of year-over-year increases. ‘Across the board, it looks like almost everything is off the bottom,’ said DataQuick analyst Andrew LePage. ‘A lot of places are up a little from a year ago.’”

The improving economy of the state of California should provide an additional boost to the Ocean Beach housing market. According to a June 15, 2010 article in the San Diego Union Tribune, “The California economy is headed for a two-track recovery, with San Diego and the coastal regions coming out of the recession far ahead of the rest of the state, according to a report released Monday by UCLA’s Anderson Forecast.”

The Kahala real estate market, an upscale portion of the larger Oahu and Hawaii housing markets, started to stage a strong recovery in the most recent tracking period. According to a June 8, 2010 article from Pacific Business News, “Home sales on Oahu rose considerably in May, while prices for single-family homes and condominiums posted modest gains compared to the same month last year. The median price of a single-family home in May was $606,000, which was a 12 percent boost over May 2009, when the median price was $542,000, according to statistics from the Honolulu Board of Realtors.” The piece went on to say that “That was based on 284 home sales, which was a 31.5 percent increase over 216 sales in May 2009. Condo sales on Oahu soared 35.5 percent in May to 355 units sold, up from 262 units sold in 2009.”

The number of Kahala homes for sale which were actually purchased, along with housing units in the rest of the island, increased substantially in the month of May. According to a June 8, 2010 article in the Hawaii News Now, “Honolulu home sales are picking up, prices are mostly higher, and two other metrics show the strength of the market is growing. In May on Oahu, 284 homes went to closing, about a third more than in May of last year, for a median price of $606,000 that was up $64,0000 from back then.” The piece, written by Howard Dicus, went on to state that “The Honolulu Board of Realtors reported Tuesday that 355 condos went to closing for a median price of $312,500 that was up more than $12,000 from last year at the same time. This continues a trend of some months, but deep detail in the version of the report transmitted to real estate agents themselves showed not two but four factors that point towards economic recovery.”

This good news for Kahala real estate was echoed in a June 8, 2010 article from KITV 4 News, which reported that “The median prices for resold single-family homes and condominiums in May climbed while the number of units sold dipped slightly, according to the Honolulu Board of Realtors.”

The Balboa Island real estate market, part of the larger Newport Beach and Orange County housing markets, is showing generally positive indicators despite a lukewarm jobs forecast. According to a June 3, 2010 article from the Orange County Business Journal, “Orange County isn’t expected to start adding jobs until 2011, according to a midyear economic forecast update released by Chapman University Thursday. Economists at the university in Orange now expect a 1.2% drop in employment for nearly 18,000 jobs lost in 2010, a sharp pullback from the 1,000 job gain it predicted in December.” The piece, written by Julie Leupold, continued to note that “Job losses are expected to give way to hiring in 2011 with a ‘weak but sustained recovery, according to Chapman. The report projects 1.5% job growth, or 21,000 new workers, by the end of next year.”

The average price of a Balboa island home for sale is projected to increase within the same time period, according to a June 3, 2010 article from the Orange County Register. This piece noted that “Chapman U. professors are out with their semiannual economic forecast for Orange County! Here’s what they said about home prices: After price losses for Orange County single-family homes – by their math that’s tied to resale medians – of 0.9% in 2007; 23.2% in 2008; and 12.3% in 2009…O.C. prices will rise 6% in 2010 and 5.3% in 2011. (Or a combined 11.6% gain in 2 years!).” The piece, posted by Jon Lansner, continued to say that “Homebuyer earning the median family income and buying a median-priced single-family home in 2009 needed to spend 30.5% of income to pay for the interest, principal and property taxes vs. 51.3% in 2007.”

This strength in the Balboa Island market was reflected in more than two-thirds of the rest of Orange County, according to a June 4, 2010 article in the Orange County Register. This piece noted that “For the 22 business days ending May 18 – DataQuick’s freshest stats – Orange County homebuying patterns showed: 59 of O.C.’s 83 ZIP codes had gains in their respective median selling prices. Overall, prices were +12.8% vs. a year ago.”

Some sectors of the Santa Cruz real estate market are starting to rebound from record lows, although there remain significant weaknesses in the region’s economic climate. According to a May 3, 2010 article in the Santa Cruz Sentinel, “The county’s once hot commercial real estate market has cooled considerably, with nearly a million square feet of office space empty at the start of the year and asking rates dropping compared to a year ago. The market hasn’t hit the 1 million mark since 2004, according to Cassidy Turley BT Commercial, which reviews the data for Santa Cruz County quarterly.” The piece by Jondi Gumz went on to say that “University of the Pacific economist Jeffrey Michael predicts a slow five-year recovery for the state, with Silicon Valley showing early signs of growth. His forecast says sustained business investment is needed to sustain the recovery against forces such as state and local government cuts, foreclosures, and tight credit conditions.”

One important indicator of the health of the market, the average price of a Santa Cruz home for sale, rallied strongly in the month of April. According to a May 24, 2010 article in the Mercury News, “Santa Cruz County saw fewer single-family homes sold in April compared to a year ago, but the median price rebounded from $420,000 to $553,000, the highest in 20 months, as distress sales dipped. Two years ago, the midpoint of what sold was $661,000.” The article by Jondi Gumz went on to say that “There were 121 sales in April, with 43 percent selling for under $500,000, according to Gary Gangnes of Real Options Realty, who tracks the numbers.”

One general indicator of the entire Santa Cruz economy, not just the Santa Cruz real estate market, the jobless rate, recovered somewhat in April 2010. According to a May 21, 2010 article in the Santa Cruz Sentinel, “Santa Cruz County added 2,000 jobs in April, cutting unemployment from 15.2 percent to 13.5 percent, the state Employment Development Department said Friday, but job growth was less than usual for this time of year. The local jobless rate is higher than California’s, which is 12.3 percent, and the nation’s 9.5 percent.”

An unincorporated community in San Diego County, 4S Ranch, California, is east of Santa Fe Valley and home to some high-profile residents, like pro sports stars. The community has miles of paths and trails connecting it to shops, parks and schools, attracting those looking for a more secluded lifestyle, and leading 4S Ranch real estate to be rather expensive since it is in high demand but with only a limited supply.

In March, according to the San Diego Union Tribute Zip Code Real Estate Chart, there were 26 resell homes sold in 4S Ranch, and the homes were sold for a median price of $720,000, up 2.9% from a year prior. The market for resell condos in the community was much more robust: There were 20 condos sold in the community during March at a median price of $311,000, an improvement of 54.5% year-over-year.

The median price per square foot in March of 4S Ranch homes for sale was $239 per square foot, up 8.3% from just $221 per square foot in 2009. The price per square foot for condos saw an annual improvement as well. It stood at $262 per square foot, up 13.7% from March 2009, when it was just $231 per square foot.

For all of the year 2009, 4S Ranch saw 342 resell single-family homes sold, at a median price of $700,000, down a slight 6.7% year-over-year. There were 243 condo sales on the year at a median price of $288,000, up 2.9% from the previous year, and there were even 124 sales of new homes, which came in at a median price of $539,000, down 11.1% annually. All total, there were 709 residential properties sold in 4S Ranch, and altogether they had a median price of $510,000, down nearly 18% from the end of 2008, showing that the year 2010 has left plenty of room for the market to improve and rebound from 2009.

A mid-sized city of more than 35,000, Dana Point, California, is located in the famed Orange County in southern California. It is home to one of Orange County’s few harbors, and many of its home lie near or along the coast, offering majestic oceanfront views. Much of the Dana Point harbor is open to the public and used like a park, popular for talking walks and taking in beautiful sunsets. Dana Point has a moderately well-to-do populace, as seen by its median annual household income level of around $83,000. The market for Dana Point real estate has suffered some setbacks since the advent of the economic recession in the U.S., and ended 2009 on a sour note, with home prices overall down year-over-year.

According to the Orange County Register’s monthly zip code chart, the city’s two zip codes saw median sales prices at the end of 2009 register $530,000 and $625,000, declines of 16% and 14%, respectively. Despite declines in prices in both zip codes, both areas also saw an increase in sales as new buyers rushed in to snatch up some of the deals waiting to be had. There were 75 sales in the first zip code and 350 sales in the second for all of 2009, increases in total yearly sales volume by 7% and 20%, respectively.

According to the Orange County Register’s annual zip code chart, in March 2010, the city of Dana Point saw encouraging signs, with median home prices of $542,500 and $610,000 in its two zip codes, up 12.5% and 23%, respectively. The first zip code saw just four homes sold in the month, down 55%, but the second saw 36 homes sold for a 71% annual increase in monthly volume.

Even more recently, in a three-week period ended April 21, the city saw mixed signals between zip codes according to the Orange County Register’s Real Estate Blog, which tracks the data regularly. The first zip code saw a median price during this three-week period of $545,00, a 29% decrease, with seven homes sold, unchanged from a year earlier, while the city’s second zip code saw more positive statistics with a median price of $662,500 for Dana Point homes for sale, a 26% increase, along with sales volume of 32 homes sold, a rise by 23% annually.

The Huntington Beach real estate market, along with the rest of Orange County, seems to be showing steady improvement during the beginning of the second quarter of 2010. According to an April 13, 2010 article in OCLNN, “The Orange County housing market continues to slowly improve, with an increase in prices and sales volume reported for March. According to numbers released Tuesday by DataQuick, the median sales price for an OC home was $432,000 in March, up 12.2 percent from March 2009 and 3 percent from February 2010. Sales, meanwhile, also increased in OC: There were 2,652 sales in March, up 9 percent from March 2009.” The article, written by Mike Reicher, continued to note that “Government-insured Federal Housing Administration loans, which are popular among first-time buyers, accounted for 38.6 percent of all mortgages for Southern California homes in March.”

On the other hand, a number of Huntington Beach homes for sale may soon be bank auctions based on a large number of homes nearing foreclosure. According to an April 15, 2010 article in OCLNN, “The number of homes nearing foreclosure spiked here during the first quarter, indicating that banks may be finally working through their backlog of homes. RealtyTrac Inc.’s figures, released Thursday, show there were 93 percent more notices of trustee sale than in the first quarter of 2009.” The piece, also written by Mike Reicher, continued to say that “Also, a variety of moratoriums in California expired at the end of September, and many of these foreclosures may have been delayed a few months. Orange County had a bigger jump in the total number of homes in the foreclosure process, compared to the rest of California: there were 4 percent more homes here either foreclosed or nearing foreclosure, while California actually dropped by 6 percent during the first quarter.”

Some better news for Huntington Beach real estate was reported by Kelli Hart  of the Orange County Register, who found that “For the 22 business days ending April 7 – DataQuick’s freshest stats – South Coast homebuying patterns showed: 159 homes were bought in the region in the period – +21% vs. a year ago. Sales counts in all Orange County beach towns ran +31% vs. a year ago.”

The Sarasota real estate market may finally be starting to emerge from a long decline precipitated by the nationwide economic recession. According to a March 23, 2010 article in the Bradenton Herald, “Sales of existing single-family homes and condominium units continued to climb in February, according to figures released today. Realtors closed 747 sales of single-family homes in the Sarasota-Bradenton market last month, a 32-percent increase from the same month in 2009, Florida Realtors said in its monthly sales report.” The article, written by Duane Marsteller, went on to say that “The median price was $154,000, up 7 percent from $144,000 in February 2009 – the apparent bottom of the three-year housing slump. But last month’s median price was down from January’s $156,700, a sign that the market is still treading the bottom. Local Realtors also closed 258 condo sales in February, a 48-percent increase from February 2009’s tally of 174 but only slightly better than January’s reading of 243 sales.”

The possibility that the price of Sarasota homes for sale may have finally bottomed out was explored by a March 28, 2010 article in the Herald Tribune. This article stated that “The great home price decline that began on the Gulf Coast more than four years ago finally shows signs of ending. In the Sarasota-Bradenton market, the median price for single-family homes hit a low of $144,000 in February 2009. Since then, it has bounced around, creeping as high as $167,400.” The piece, composed by Michael Braga, also stated that “Some skeptics warn that more bad news lurks, thanks to an unexpected flood of foreclosures and a paucity of bank lending. But a growing number of market watchers see signs the price decline has ended.”

A more upbeat prognosis for Sarasota real estate was provided by an April 15, 2010 article also in the Herald Tribune, which noted that “Though the number of foreclosure filings in Southwest Florida jumped in March, a closer look at the data shows that the region might be finally digesting the problem – and at a quicker pace. All told, the three-county region stretching from Manatee County to Charlotte County, registered 3,376 foreclosure filings last month…”

On the southeast portion of the island of Oahu flourishes the Hawaii kai residential community with its breathtaking beauty and picturesque sceneries. The place boasts a lush fertile mountain side and a spectacular view of the clear blue ocean.

A home in Hawaii kai is indeed a lovely setting. With heavenly breezes and an excellent climate you will find your mind and body revitalized with abundant energy and will also find plenty of time for outdoor adventure and games. You are sure to enjoy each and every moment of your stay starting from your very first cup of morning coffee to delicious moth watering meals on the wide and deep waterfront lanais.

Due to its closeness to the world famous Hanauma bay, well-known for its vacation activities such as sunbathing and snorkeling, investing in Hawaii kai real estate is an excellent idea. Hawaii kai is also close to a number of other magnificent attractive sites such as Koko Head Crater botanical garden which is in itself a true exemplar of the diverse ecosystem of Hawaii, Sandy beach with its sparkling waters and fine white sand speckles, the Sea life park and many others. Thus for long term vacationers, buying real estate in Hawaii kai is indeed a pleasurable experience. With its growing mortgage industry, a large number of homes, condos, villas and land are available for sale daily and all you need to do is a little research to find a place that best matches your tastes and likes.

With the advent of specially designed websites and travel guides dedicated to Hawaiian property sale and buying; buying real estate in Hawaii kai has never been easier. You will find websites that provide their visitors with loads of information and sometimes even picture to help them better decide the right property they want. Some websites also provide the additional feature of updating their visitors with regular email alerts as the listed property status is updated and made available. From mortgage rates to moving and shifting charges to unbelievable offers and packages and effective negotiations, the Hawaiian real estate market invites buyers to explore its heavenly community and find an accommodation or place of their dreams.

Furthermore, extensively detailed community information can also be found on the World Wide Web while also alerting you of the latest homes and condos available for sale.

In addition, for those who wish to rent a vacation home or property, the ease of online application and booking makes the process far easier. A lot of websites regularly update their listings and provide complete information regarding the rates and facilities provided. Homes, condos and villas that are available for sale are also enlisted and some of the sites also allow the buyer to actually contact the actual authorized property owner. The property may either be privately owned or professionally managed. The direct contacting option enables the buyers or renters to gain maximum authentic information regarding the properties.

What’s more is that you will also find attractively decorated houses with beautiful artworks to further enhance the beauty of your estate thus making Hawaii kai real estate investment as a highly favorable choice.

The Anchorage real estate market and the Alaskan economy in general seem to be quite healthy compared to the rest of the United States. Specifically, Alaska appears to have avoided the pitfalls of the nationwide lending and mortgage crisis, according to an April 3, 2010 article in the Anchorage Daily News. This piece found that “The national commercial market is in a massive tailspin due to the severe economic downturn. Fortunately, this isn’t happening in Alaska. The class of loans called commercial mortgage backed securities, CMBS, has about $1.5 trillion in loans maturing by the end of 2012.” The piece, composed by Chris Stephens, continued to find state that “CMBS are financing vehicles in which a lender pools various mortgages, slices them up and sells the pieces to investors with different levels of risk tolerance.”

It does seem that Anchorage homes for sale have been less successful on the market in the first quarter of 2010, but that situation is not particularly troubling to economists. According to a February 9, 2010 article in the Anchorage Daily News, “Valley houses on average sold for less money last year than they did in 2008, and they’re taking a bit longer to sell, but local real estate officials see a lot to be glad about. ‘The Valley is still growing. From a real estate perspective, that’s a good thing,’ said Duane Mathes, president of Valley Board of Realtors.” According to the article by Rindi White, “Freid shared a lot of good news with the group, including that the Valley population grew in 2009 by 2.6 percent. That’s half the 2005 growth rate of 5.1 percent in Mat-Su, but the numbers are still headed upwards.”

Home prices in the Anchorage real estate market are also slightly weak, according to a January 7, 2010 article in the Anchorage Daily News. The piece, composed by Elizabeth Bluemink, continued to state that “Anchorage house prices decreased slightly in 2009, for the second year in a row. The price decrease of 2.2 percent was the biggest in two decades but it was much smaller than the U.S. average price decline of 10 percent last year, statistics show.”