Lake
Tahoe Real Estate - Single Family - Tahoe Island Park
Lake
Tahoe Real Estate - Condo/Townhouse - Tahoe Island Park
Lake
Tahoe Real Estate - Multi Family - Tahoe Island Park
Lake
Tahoe Real Estate - Land - Tahoe Island Park
Lake
Tahoe Real Estate - Commercial - Tahoe Island Park
C.A.R. REPORTS MEDIAN PRICE INCREASES 16.8 PERCENT
IN AUGUST, SALES DECLINE 8.5 PERCENT The median price
of an existing home in California in August increased 16.8
percent and sales declined 8.5 percent compared to the same
period a year ago, according to a C.A.R. report released last
week. "We anticipated a decrease in home sales last month
compared to August 2003," said C.A.R. President Ann Pettijohn.
"Last summer, mortgage interest rates were at their lowest
levels in more than 30 years and monthly existing home sales
hit an annualized all time high of nearly 646,000 units."
Closed escrow sales of existing, single-family detached homes
in California totaled 591,150 in August 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 decreased 8.5 percent from the 645,720
sales pace recorded in August 2003. The statewide sales figure
represents what the total number of homes sold during 2004
would be if sales maintained the August 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 August 2004
was $474,370, a 16.8 percent increase over the revised $406,140
median for August 2003, C.A.R. reported. The August 2004 median
price increased 2.6 percent compared with a revised $462,140
median price in July.
MORTGAGE APPS INCREASE NEARLY 5 PERCENT The
Market Composite Index of mortgage loan applications, a measure
of mortgage loan applications, was 724.7 for the week ending
Sept. 24, an increase of 4.9 percent on a seasonally adjusted
basis compared with 690.7 one week earlier, according to a
report released today by the Mortgage Bankers Association
(MBA). On an unadjusted basis, the Index increased by 4.6
percent for the week ending Sept. 24, compared with the previous
week and was up 2.1 percent compared with the same week one
year earlier. The refinance share of mortgage activity increased
to 45.9 percent of total applications for the week ending
Sept. 24 from 44.5 percent the previous week. The adjustable-rate
mortgage (ARM) share of activity decreased to 32.5 percent
of total applications for the week ending Sept. 24 compared
with 33.1 percent the previous week, according to the report.
OCT. 18 DEADLINE TO REGISTER TO VOTE IN NOV. ELECTIONS The
2004 General Election is just around the corner. Voters will
go to the polls on Nov. 2 to decide on their choice for president,
members of Congress, the state legislature, and local elected
officials as well as approve or reject a variety of ballot
propositions. The deadline to register to vote is Oct. 18.
If your are unsure about your registration status, please
follow the link below to the Secretary of State's Web site
for information on registering to vote. If you would like
Voter Registration Forms sent to your office, please contact
C.A.R. Member Mobilization at (916) 444-2045.
C.A.R. Newsline is published by the CALIFORNIA ASSOCIATION
OF REALTORS®, a trade association representing more than 135,000
REALTORS® statewide.
