Today’s Casa Article has to do with carrying your movies, photos, music and anything digital with your wherever you go! There are whole new classes of devices out there that allow you to carry whole movies around in your handheld.
Something I never thought would catch on is watching a movie on a laptop computer, but it’s become very popular. So, the next logical step is movies on your handheld device. For more please read A Theatre in Your Pocket!!
Home prices in southern Santa Barbara County rose higher last month stopping just shy of the $1 million mark. Demand for more affordable homes on the South Coast has caused condominium prices to rise faster than single-family home prices for the first quarter of this year.
Condos reached a median of $545,000 in the recent quarter, up 25 percent from the same period a year ago. Single-family homes climbed to $965,000 up 20 percent from the $805,000 posted in the year ago quarter.
The fear of higher interest rates could accelerate the rise in prices over the next few months as the county enters its busiest season for home buying.
LOS ANGELES (April 27) - The median price of an existing home in California in March increased 22 percent and sales increased 4 percent compared to the same period a year ago, the California Association of REALTORS® (C.A.R.) reported today.
"The median price of a home continued its run of double-digit price increases last month as buyers scrambled to purchase homes amid concerns of rising mortgage interest rates," said C.A.R. President Ann Pettijohn. "This unprecedented demand helped push the median price of a home in many regions in the state to record highs in March. And at $428,280, the median price for the state also hit a record high in March compared to $351,130 just one year ago."
The median price of a home in the Central Valley, High Desert, Monterey, Monterey County, Northern California, Northern Wine, Orange County, Riverside/San Bernardino, Sacramento, San Diego, Santa Clara, Santa Cruz, North Santa Barbara County and Santa Barbara South Coast regions posted record highs in March, according to C.A.R.
Closed escrow sales of existing, single-family detached homes in California totaled 590,220 in March at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 4 percent from the 567,610 sales pace recorded in March 2003.
The statewide sales figure represents what the total number of homes sold during 2004 would be if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The median price of an existing, single-family detached home in California during March 2004 was $428,280, a 22 percent increase over the revised $351,130 median for March 2003, C.A.R. reported. The March 2004 median price increased 8.4 percent compared to a revised $395,060 median price in February.
"Year-to-date sales are up 4.4 percent compared to the same period last year," said Leslie Appleton-Young, C.A.R.'s vice president and chief economist. "Along with the median price of a home, the inventory of homes for sale reached an all-time historic low of 1.6 months in March, while time on the market is at a record low of 26 days."
Highlights of C.A.R.’s resale housing figures for March 2004:
C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in March 2004 was 1.6 months, compared to 2.7 months for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
Thirty-year fixed mortgage interest rates averaged 5.45 percent during March 2004, down from 5.75 percent in March 2003, according to Freddie Mac. Adjustable mortgage interest rates averaged 3.41 percent in March 2003 compared to 3.76 percent in March 2003.
The median number of days it took to sell a single-family home was 26 days in March 2004, compared to 30 days (revised) for the same period a year ago.
Regional MLS sales and price information is contained in the tables that accompany this press release. Regional sales data is not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes is generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums is based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.
In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 92.5 percent or 356 of 385 cities and communities showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates.
U.S. consumer confidence rose in April, driven primarily by increased faith in an employment recovery, a report published on Tuesday said.
The Conference Board, a private research firm, said its index of consumer confidence rose to 92.9 in April from a revised 88.5 in March. Economists surveyed by Reuters had forecast the index to ease to 88.0.
"The job market, which has a major impact on confidence, appears to be gaining strength," said Lynn Franco, director of research at the company's Consumer Research Center. "The percentage of consumers claiming jobs are hard to get is now at its lowest level since November 2002, and more consumers expect this trend to continue."
The number of consumers saying jobs were hard to get fell in April to 27.6 percent from March's revised 29.9 percent.
Consumers' view of the future improved, moving the expectations index to 94.5 from a revised 91.3, while the present situation index climbed to 90.6 from a revised 84.4 in March.
The U.S. Dept. of Housing and Urban Development (HUD) recently proposed new federal regulations that would significantly raise the targeted lending requirements for Fannie Mae and Freddie Mac. HUD estimates that over the next four years an additional one million low-and moderate-income families would be served as a result of the new goals.
"Although the nation is experiencing a record high homeownership rate of 68.6 percent, there is still more to be done," said HUD Secretary Alphonso Jackson. "These government sponsored enterprises can and must further use their power in the marketplace to ensure that more low-income and minority families get on the path to homeownership."
By statute, HUD sets the annual affordable housing goals that require a percentage of Fannie Mae and Freddie Mac's lending go to underserved borrowers and communities. The proposal is currently under a 15-day congressional review after which there will be a 60-day public comment period.
Builder confidence in the market for new single-family homes rose five points to 69 in April rose, according to the National Association of Home Builders' latest Housing Market Index (HMI). "Favorable interest rates and strong home-price appreciation are still driving demand in today's housing market, despite the recent bump-up in mortgage rates," said NAHB President Bobby Rayburn. "Builders actually saw quite a few buyers hurrying to lock in financing as mortgage rates firmed up."
The HMI is derived from a monthly survey of builders that NAHB has been conducting for nearly 20 years. Homebuilders are asked to rate current sales of single-family homes, and expected sales in the next six months, as "good," "fair," or "poor," where any number over 50 indicates that more builders view sales conditions as good than poor.
"We expect the demand for single-family homes to remain quite strong in coming months, despite the rise in long-term mortgage rates, as growth in employment and household income accelerates," said NAHB Chief Economist David Seiders. "Indeed, the economic and demographic foundations for housing are very solid, supporting both home sales and house prices. Theories of house price 'bubbles' are bound to be discredited in the process."
Two out of three of the HMI's component indexes rose strongly in April. The index gauging current sales of new single-family homes and the index gauging sales expectations for the next six months each rose six points to 76, according to the report. Traffic of prospective buyers fell one point in April to 48 compared to the previous month.
Today's Casa Article is all about a very cool piece of software from Apple Computers called GarageBand. There are loops, and samples and enough tools to make a real fun sounding track.
If you've been itching to get back to your musical roots please give a look atIn The Beginning There Was the Garage!!!
The California Labor and Workplace Development Agency has informed C.A.R. that it intends to take aggressive action against any real estate broker that does not carry workers' compensation insurance on their salespersons even if they are independent contractors. The agency said it will take sweeping action within sixty days, or by June 15, 2004 to enforce the insurance requirement. Penalties for not carrying workers' compensation on covered workers is a misdemeanor punishable by up to one year in jail and up to a $10,000 fine. Enforcement may including citations and work stop orders with penalties as well as the issuance of a stop order prohibiting further operation of the business or use of "employee labor."
The law does not allow an employer to make the workers pay for workers' compensation insurance. The department is particularly focusing on this issue of charge-backs to employees. In light of this risk, C.A.R. urges all real estate brokers to take immediate action to verify that they have obtained workers compensation insurance for all of its salespersons, even if they are independent contractors. C.A.R. currently endorses the State Compensation Insurance Fund as its carrier but private sources are also available through insurance brokers. State Fund is at (877) 405-4545; ask for C.A.R. Group #260 coverage
The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, decreased by 22.1 percent to 788.6 on a seasonally adjusted basis for the week ending April 9 from 1,012.9 one week earlier, according to a report released today by the Mortgage Bankers Association (MBA). On an unadjusted basis, the Index decreased by 21.5 percent for the week ending April 9 compared with the previous week and was down 29.1 percent compared with the same week one year earlier.
The seasonally adjusted Refinance Index decreased by 30.7 percent to 2,861.6 for the week ending April 9 from 4,126.7 one week earlier, according to the report. "The fall in refinance applications this week is not surprising given the approximate 40 basis point increase in mortgage interest rates since roughly the middle of March," said Jay Brinkmann, the MBA's vice president of research and economics.
The refinance share of mortgage activity decreased to 50.4 percent of total applications for the week ending April 9 from 57.1 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 29.4 percent of total applications for the week ending April 9 compared to 28.8 percent the previous week, according to the report.
The percentage of households in California able to afford a median-priced home stood at 24 percent in February, a 6 percentage-point decrease compared to the same period a year ago when the Index was at 30 percent, according to a recent C.A.R. report. The February Housing Affordability Index (HAI) improved one point compared to January, when it stood at 23 points. C.A.R.'s monthly housing affordability index measures the percentage of households that can afford to purchase a median-priced home in California. C.A.R. also reports housing affordability indexes for regions and select counties within the state. The index is the most fundamental measure of housing well-being in the state.
The minimum household income needed to purchase a median-priced home at $394,300 in California in February was $91,690, based on a typical 30-year, fixed-rate mortgage at 5.74 percent and assuming a 20 percent downpayment. The minimum household income needed to purchase a median-priced home was up from $77,220 in February 2003, when the median price of a home was $326,640 and the prevailing interest rate was 5.93 percent. The minimum household income needed to purchase a median-priced home at $168,100 in the U.S. in February 2004 was $39,090.
At 55 percent, the High Desert region was the most affordable C.A.R. region in the state, followed by the Sacramento region at 35 percent. The San Luis Obispo region was the least affordable in the state at 14 percent.
After more than a year of city review a 42-unit housing project of condominiums, apartments, live/work space and businesses is taking shape along Carpinteria Avenue.
Officials hope the proposed Craftsman-style homes coupled with storefronts along the main avenue will revitalize that end of town, where Coco’s Restaurant recently went under and most agree a bit of polishing wouldn’t hurt.
Plans include 5,116 square feet of commercial space, 32 three-story market-rate condominiums, six low-income apartments and four live/work space units for residents who will run businesses from home.
Americans are moving at some of the lowest rates in more than 50 years, but long-distance moves are becoming slightly more common, according to a recent U.S. Census Bureau report. According to "Geographical Mobility: 2002 to 2003," the 40 million people who moved between 2002 and 2003 comprised 14 percent of the population, down sharply from a rate of 20 percent in 1948 when the Census Bureau first began collecting information on movers. In 2003, however, 19 percent of all moves were to a different state, up from 16 percent in 1994.
Among people who changed residence between 2002 and 2003, 51 percent moved for housing-related reasons, followed by family reasons (26 percent) and work-related reasons (16 percent), according to the report. Between 2002 and 2003, the Midwest and the Northeast experienced net losses of about 100,000 people in domestic migration, while both the South and the West showed net gains (125,000 and 74,000, respectively).
In 2003, about one-third of 20- to 29-year-olds had moved in the previous year, more than twice the moving rate of all people age one and older. Nearly one-third of people living in rented housing units in 2003 moved during the previous year, according to the report.
Non-Hispanic whites had the lowest moving rate (12 percent) while Hispanics, who may be of any race, and blacks had the highest rate (18 percent each), closely followed by Asians (17 percent). People with incomes below the poverty level were more likely to have moved (24 percent) than those not in poverty (13 percent).
Google has created a service called Google News Alerts that can be delivered to you daily or as the event occurs. To get the service setup just go to http://www.google/newsalerts and put in the words or phrase that you’re interested in. Next ,select how often you want this information sent to you. Then, put in your email address and click on “Create News Alert.”
For more on Google News Alerts please read Flash This Just In!!
The Goleta City Council has approved a combination hotel and condo project for a prominent stretch of Hollister Avenue. The preliminary approval, which came late Tuesday after months of hearings and hand-wringing, marks a major turning point for the city. The Old Town Inn and Village is by far the largest of only a handful of projects that city leaders have approved since Goleta incorporated in early 2002.
In its 3-1 vote, the council acting as the city Planning Agency approved the 96-room three-story Hampton Inn and 38-condo complex to rise from a blighted former mobile home park at 5665 Hollister Ave a property near Highway 217 and the Goleta Valley Community Center.
The City Council Tuesday allowed Cottage Health System to move forward with its proposed 115 unit condominium project at the old St. Francis Medical Center property. The Council rejected the request that the property be down zoned from allowing 3 story buildings with an unlimited number of units to two stories with two units per building.
The vote was 6-1 with Das Williams being the lone dissenter.
Cottage Hospital plans to build the condos for its employees in an effort to improve recruitment and retention of its health care workers. Eighty-one of the units would be sold to employees at below market prices. Cottage officials said that if the zoning is changed, they couldn’t build as many homes that would be affordable to it s residents.
While the Cottage plan is still in the early stages and must undergo several more steps before gaining approval, city staffers are embracing the project because it provides housing for its workers in a community where there is a jobs-housing imbalance.
It’s a great day. My Disneyland Annual Pass Holder Spring 2004 News arrived. The biggest news is the opening of The Hollywood Tower Hotel. Also called the Twilight Zone Tower of Terror it appears that not a single guest has checked in since 1939, leaving every floor eerily empty.
The missing guests are beckoning you to join them so now it’s your chance, if indeed you dare to accept the challenge, to check into The Twilight Zone Tower of Terror. This attraction will grant you an elevator ride you’ll never forget. It’s a journey through the mystifying aura that hides the secrets of the hotel, leading you into the 5th dimension.
For more on the Hollywood Tower Hotel go to http://www.hollywoodtowerhotel.com
What can you do with a 20’ X 20’ section of downtown Santa Barbara? Well if Neil Ablitt and his wife get their way there will be a 4 story home on it. The lot located at 13 W Haley St would have parking on the ground floor. The second floor would be for cooking. The bedroom would be on the third floor and they would entertain on the fourth floor. There would also be roof access where they envision sipping a cold beer on a hot summer day. The tip of the roof’s tower would look 53 feet to the ground.
The project has been turned down by the planning commission in a narrow vote so this week they’ll take it before the City Council to try and get approval. As with most things Santa Barbara there are those who don’t want the project to happen so stay tuned.
The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, decreased by 7.2 percent to 1,012.9 on a seasonally adjusted basis for the week ending April 2 from 1,091.3 one week earlier, according to a report released today by the Mortgage Bankers Association (MBA). On an unadjusted basis, the Market Index decreased by 6.6 percent for the week ending April 2 compared with the previous week and was down 17.6 percent compared with the same week one year earlier.
The refinance share of mortgage activity decreased to 57.1 percent of total applications for the week ending April 2 from 62.8 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 28.8 percent of total applications for the week ending April 2 compared to 27.5 percent the previous week, according to the report.
A proposal has been brought forward to put 131 Condominiums in the Santa Barbara Waterfront area. Approximately 40% of those condos have been proposed to be “affordable housing” with the others being at “Market Rate.”
The project is in the preliminary stages and raises some interesting points about the city’s vision of the area from the Freeway to the Beach. At one point the developer, Bill Wright, had proposed a hotel for the largest site, but that idea was abandoned.
For more about this proposed project please read 131 Condominiums Proposed in the Santa Barbara Waterfront area.
In the old Dick Tracy cartoon series one of the coolest devices he had was his wrist communicator. He could talk to people and find out everything he needed to know just by looking at his wrist. Well it looks like we’re finally getting to the place that you can enjoy that same coolness on your own wrist.
There are a couple of manufacturers who have come up with these devices and if you’re someone who just has to know what’s going on at any particular time you should read Dick Tracy’s Wrist Communicator
Chief executives' confidence in the nation's economy, which had slipped to 66 in the final quarter of 2003, rose six points to 73 in the first quarter of 2004, according to a recent Conference Board report. "CEO confidence has surged to its highest level in 20 years," said Lynn Franco, director of the Conference Board's Consumer Research Center. "Half of all CEOs surveyed anticipate an increase in hiring plans over the course of the year, suggesting labor market growth should gain momentum in the months ahead."
CEOs' overall assessment of current conditions improved in the first quarter of 2004, with the measure of current economic conditions increasing to 78 from 68, according to the report. In looking ahead to the next six months, expectations were more optimistic than last quarter, with CEOs' outlook for the economy improving to 72 in the first quarter of 2004 from 66 in the fourth quarter of 2003. Expectations for their own industries also increased from 70 from 63.
Half of all CEOs anticipate an increase in employment levels in their industry, up significantly from less than 16 percent a year ago, according to the report. Health care costs remain the major obstacle to hiring new workers. Regulation and litigation costs were of less concern, while fringe benefits and wage and salary costs remain of minimal concern to CEOs when hiring new workers.
The median price of an existing home in California in February increased 20.7 percent and sales increased 3.9 percent compared to the same period a year ago, according to a recent C.A.R. report. "While demand for housing gives no indication of slowing down, the inventory of homes for sale continues to decline," said C.A.R. President Ann Pettijohn. "This dynamic is a key constraint in the housing market and why we're experiencing such dramatic price appreciation."
Closed escrow sales of existing, single-family detached homes in California totaled 589,220 in February at a seasonally adjusted annualized rate, according to C.A.R. Statewide home resale activity increased 3.9 percent from the 566,890 sales pace recorded in February 2003. The statewide sales figure represents what the total number of homes sold during 2004 would be if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The median price of an existing, single-family detached home in California during February 2004 was $394,300, a 20.7 percent increase over the revised $326,640 median for February 2003, C.A.R. reported. The February 2004 median price decreased 2.9 percent compared to a revised $406,220 median price in January.
The Metropolitan Transit District is risking the loss of millions of federal dollars with a pan to buy diesel buses instead of the fleet of electric buses it once promised, even the cleaner burning ones MTD envisions.
The change of plans is the latest challenge facing MTD, coming off a year of controversy involving a federal inquiry into its bidding process, an overhaul of its management, and the loss of recognition for its highly touted electric bus program.
Today's Casa Article is the second of a two part series all about what you can do before you call Tech Support. Since this article ran I've had some emails concerning other stuff you can do before you call so you may be seeing Part 3 some time in the future. In the mean time please read Stuff You Can Do Before You Call Tech Support Part 2
The Consumer Confidence Index, which had declined sharply last month, was unchanged in March and now stands at 88.3 (1985=100) compared to 88.5 in February, according to a report released yesterday by the Conference Board. The Present Situation Index rose to 84.1 from 83.3 and the Expectations Index dipped slightly to 91.0 from 91.9.
"While consumers claimed business conditions were more favorable in March than last month, they also claimed jobs were less readily available," said Lynn Franco, director of the Conference Board's Consumer Research Center. "The labor market not only continues to dampen consumers' present-day spirits, but it is also making them less optimistic about the short-term outlook."
Consumers' optimism about future conditions continues to wane, according to the report. Those expecting business conditions to improve in the next six months dipped to 19.3 percent from 19.5 percent. Consumers expecting conditions to worsen was unchanged at 9.6 percent. Consumers' assessment of current conditions is more favorable today than last month, with those claiming business conditions improved increasing to 20.7 percent from 19.3 percent. Consumers claiming conditions have worsened was almost unchanged at 23.3 percent. Those anticipating more jobs to become available fell to 15.7 percent in March compared to 16.4 percent the previous month.