DEC. HOME SALES INCREASED 84.9 PERCENT; MEDIAN PRICE FELL 41.5 PERCENT

This article came in my e-mail this morning... from the California Association of Realtors. I have been keeping a close eye on the market and we are seeing values drop. Most of the homes currently selling in this market are at the lower end of the scale and that makes the average selling price drop even further. Now if things were to change and only the expensive homes sold you would see the average selling price higher...

Home sales increased 84.9 percent in December in California compared with the same period a year ago, while the median price of an existing home fell 41.5 percent, C.A.R. reported yesterday. "Sales continue to be strong, exceeding 500,000 units for the fourth consecutive month, and year-to-date sales are nearly 27 percent above last year," said C.A.R. President James Liptak. "California home buyers benefited during the last half of 2008 from the high-cost loan limit of $729,750, which fell to $625,500 as of Jan. 1.

The restoration of the high cost loan limit to the previous level would not only help a housing market still struggling to turn around, but also make financing more affordable for home buyers."Closed escrow sales of existing, single-family detached homes in California totaled 544,580 in December 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 84.9 percent from the revised 294,520 sales pace recorded in December 2007. Sales in December 2008 increased 5.9 percent compared with the previous month.The median price of an existing, single-family detached home in California during December 2008 was $281,100, a 41.5 percent decrease from the revised $480,820 median for December 2007, C.A.R. reported. The December 2008 median price fell 2 percent compared with November's revised $286,850 median price.

Where has January gone?

Sometimes as we grow older time seems to just slip by. We start off with goals in mind and push forward. January starts of the year of new beginnings.... I do not call my goals resolutions but beginnings... for me not to try is to fail.

2008 was a very good year and a lot was learned along the way. As we go through life we need to learn from our errors and capitalize on them to improve. I have spent the month of January working on upcoming website changes, additions to my blog and marketing systems.

As we approach February and the resolutions have already slipped away... just remember you can try again.

Have a great day,

Jeff

Something to think about

Have you ever thought what things really cost over a period of time? The other day I read the following comments about how much it cost to have a couple of glass's of wine each evening. Something that many people I know do...

To keep you up-to-date here are some 2008 California State Fair results. Best of Show Red Wine – Castle Rock Winery/2006 Mendocino County Pinot Noir; Best of Show White Wine – Loredona/2007 Monterey Riesling. Charles Shaw’s #1 wine received a Silver Medal, still outstanding in my humble opinion.

Simple math – you are supposed to drink 2 glasses of wine a day and at 4 glasses per bottle that comes to 180 bottles a year or $360 for me drinking Shaw. If you desire, for example, Santa Margherita Pino Grigio at about $20 a bottle your yearly cost would be $3,600 a year. That is a real difference in a down economy. As the saying goes – 3,240 pennies saved are 3,240 pennies earned and if you are in a 30% Federal Tax Bracket and 9% State Rate you would have to earn $5,901.64 annually to drink $20 wine. For more information on this important health issue, go to http://www.thebestcaliforniawine.com/.

Now personally I am not a fan of Two Buck Chucks but I have friends that are... Some of them even swear by it... funny if I bring over a good bottle that gets put away for private reserve until the guest leave.... The moral of the story here is how much it really cost... People are always asking me how to save money. The answer is simple - Think about what items really cost over a long period of time. If you drank the cheaper wine in a couple of years you would start to accumulate some pretty nice savings.

OK, this has nothing to do with real estate... but if you need to save money... buy the cheaper wine.

Have a great day,

Jeff

Long Beach Home Solutions

http://www.jeffhallrealtor.com/

jeff@jeffhallrealtor.com

Above article taken from Duane Gomer at http://www.duanegomer.com/ (the picture was taken on Fishermans Island in Venice Italy in 2002)

Sometimes we just need some humor....

Sometimes we just need to smile... we all take life a bit too serious... I know I do. So click on the link sit back and just enjoy this clip.

Click here: YouTube - Uncle Jay Explains: Year-end! 12-22-08

Enjoy,

Jeff

2009 Year of New Beginnings

2009 a Year for New Beginnings has been my mantra for the few months. 2008 was not the easiest on record or for the matter the worse for me either. Sometimes we allow ourselves to be dragged down with what we hear in the media, and that clouds our own world. Staying positive for all of us is not easy to do... but you know I try.

Part of the new beginnings is to be become more familiar with current trends. Our world changes so fast that what is hot today is old tomorrow. I continually read real estate trade magazines and just completed Web 2.0 certification.

So in the months ahead look for new and exciting technologies coming your way.

Now go out and enjoy the New Year and allow 2008 to be but a memory.

Jeff Hall
Long Beach Home Solutions
http://www.jeffhallrealtor.com/
jeff@jeffhallrealtor.com