Archive for August, 2008

Come out and play with us at the park!”
Is your gym routine getting stale? Mix it up a little and participate in this fun yet challenging group exercise class at Central Park. Riech Personal Training & Coaching will individualize your program to suit your fitness level. Sessions with Riech Personal Training are 4 weeks long; 2 or 3 days per week. Classes will include a warm-up, stretching routine, running, functional and core strengthening, and a cool-down.Classes are taught by Todd Riech, former Olympian, and Lisa Riech, licensed physical therapy assistant and highschool track coach.

I’ve been working out with Todd and the group for the last month in the park and it is wonderful workout, it’s like having your own personal trainer, no session is the same and the morning sunset mountain views are spectacular.
Margo Murray - Real Estate Broker in Rancho Santa Margarita http://www.margomurray.com http://RSMBlog.com
margo@margomurray.com

Please bring a workout mat and a pair of dumbbells. Recommend weights: 5 lbs. for the beginner level, 8 lbs. for the intermediate level, 10-12 lbs. for the advanced level.

Date/Time: Tuesday, Thursday & Saturday
Session 1 - February 12 - March 8, 6:00 a.m. or 9:15 a.m.
Session 2 - March 18 - April 12, 6:00 a.m. or 9:15 a.m.
Location: Central Park, 30842 La Miranda
Fee: $120 for 3 days/week (or $80 for 2 days/week)

To register or for more information on classes contact:
Riech Personal Training & Coaching 949.413.5768
http://www.toddriech.com or info@toddriech.com

                                     California Real Estate Market Report 

November 2008

Current
 Period

Last
Period

Last
Year

Month- Month
Change

Year - Year
Change

Existing Home Sales

502,190

490,850

255,340

2.3%

96.7%

Median Home Price

$316,480

$350,140

$535,760

-9.6%

-40.9

Unsold Inventory Index

6.5
Months

6.7
Months

16
Month

-3%

-59.4%

Median Days on Market

46.1

47.3

56.7

-2.5%

-18.7%

30-Year Fixed Mortgage

6.04%

6.48%

6.38%

-0.44%

-0.34%

                                        Source for statistics: California Association of Realtors

 Generally, postpresidential election real estate markets tend to improve slightly. The boost tends to be greater if the winning vote was substantial. President-elect Obama won the popular vote by about 7%. If history repeats itself–and it usually does–the real estate market will continue to improve in 2009. Many believe the reason post-presidential markets generally improve is because consumer confidence increases after the American voter has the opportunity to express his/her will through the election process. The more people who agree with the election results, the greater the consumer confidence.
The California Association of Realtors (CAR) predicts that prices will bottom out by mid-2009. CAR also predicts a 12.5% increase in the number of sales in California in 2009. Remember–months ago, we predicted that an improving real estate market would lead us out of the recession. Forecasts of continued low interest rates, lower foreclosure numbers, and increasing consumer confidence in real estate should continue to bring about an improved real estate market. The one concern is the economy. The bailout that Congress passed will hopefully bring about results within the coming months, and the nations economy will begin to heal. A final, encouraging observation: sales in September 2008 were up 96.7% from the same period in 2007.

Gary Watts has long been recognized as a forecasting expert by the real estate industry. His long-term analysis has also drawn the attention of the media due to his consistent accuracy. His Economic Outlook has been spotlighted in regional newspapers, including the Orange County Register and the Los Angeles Times. He has been seen on the PBS TV program Real Orange, and he has been a featured advisor on real estate forecasting roundtables. He holds a degree in economics with advanced studies in psychology from California State University at Sacramento. 

The housing market below $250,000 has most likely reached the bottom
Prices now in the $350,000 range are close to the bottom.
The rest of the housing market still suffers a restructuring of prices. 
Expect foreclosures and short sales to dominate the market through 2010.
Listing inventory should rise due to the large number of foreclosures set to enter the market.
The credit conditions should greatly improve, bringing more buyers into the market place.
Demand for properties will continue to be higher than the past three years.

Recently, my office has received calls from concerned homeowners about property valuation in a declining market and what implications it may have on their property taxes. Home owners are asking, “Why are my taxes going up when my value is going down?” Here is a good explanation that was recently printed in Supervisor Pat Bates newsletter. “There are two values to look at when considering property taxes: the Market Value and the Proposition 13 Taxable Value. The Market Value is what the property would sell for in an open market transaction. The Prop. 13 Taxable Value is the Market Value of the property when it was purchased, plus a Consumer Price Index (CPI) adjustment of up to 2% per year, plus any new construction. In calculating property taxes each year, the Assessor compares these two values and the lower of the two is always used.Therefore, even if a property experiences a decrease in Market Value, if the Market Value is still higher than the Prop. 13 Taxable Value, a CPI adjustment may be added by up to 2% annually. Using this formula, taxpayers always benefit because they always pay the lower of the two amounts.” For more information about Market and Taxable Values, please click here. You may also contact the Assessor Department with any questions by calling (714) 834-2727 or visiting www.ocgov.com/assessor

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You can find great local Rancho Santa Margarita, California real estate information on Localism.com Margo Murray is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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