Posts Tagged ‘California’

The city of San Diego will be providing financial help to California property buyers looking to install solar panels from July, it has been revealed.

From that time those who wish to place the green energy devices on their homes can obtain upfront grants from the authority to pay for them, with the cost being recouped through raised property taxes over a 20-year period, the city has revealed.

Such a move will help those keen on investing in California property who hope to make it as eco-friendly as possible, but do not have the additional funds to add renewable energy features.

San Diego is implementing the scheme under the state assembly’s bill 811, which permits such funding plans for home improvements.

The law was passed in 2008 and is one of a number of new initiatives across the US aimed at encouraging greener home energy.

Others include the amendment to the Florida constitution last year to ensure that those who fit green energy devices to their properties do not have to pay higher taxes because of the consequent increase in the value of such residences.

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!

Some of the new high-speed rail links planned to receive federal funding in the US will be in California, it has been announced.

President Barack Obama’s list of routes earmarked to receive the government cash include the California Corridor, which would link up the San Francisco Bay area, Sacramento, Los Angeles and San Diego.

Such a link could help improve the value of California property by offering those who live or take holidays in these cities quicker access around the state.

Mr Obama commented that the US needs "a smart transportation system equal to the needs of the 21st century", which will help ease congestion and pollution.

Earlier this month the Union-Tribune reported that experts were stating that the California property market appeared to be bottoming out.

The paper quoted economist Christopher Thornberg as saying that those who enter the market at this time are "smart investors".

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!

California property seekers may find they are entering a market near the bottom in at least one part of the state, it has been suggested.

Positive signs have emerged that San Diego county is starting to pick up, with increased sales, competitive price bids and more confidence detected among first-time buyers and builders, the Union-Tribune reports.

Commenting on the situation, local investor Jeff Grad told the paper: "I think it’s the beginning of the real estate market starting to rebuild. I can’t see it heading much further south."

Another upbeat note was sounded by economist Christopher Thornberg, who said those buying in the area now are "smart investors".

Such sentiments may tempt those thinking of buying California property to take a closer look at San Diego or other parts of the state.

California was recently shown to have the highest number of foreclosed properties of any US state, something that may interest bargain hunters.

Figures from housing research body RealtyTrac showed that there were 80,775 homes there for which a foreclosure filing was issued in February.

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!

The Long Beach Grand Prix takes place over the long weekend of April 16th to 19th 2009.

While not actually a Formula One event, this offers California property seekers who like their motorsport a chance to see Champ Cars (formerly known as Indy Cars) hurtling round the track at high speed.

The occasion begins with a free admission day on the 16th, including a lifestyle expo and the induction of new members into the Long Beach Motorsports Walk of Fame, followed by practice on the 17th, qualifying on the 18th and then finally the race on the last day.

California property investors can enjoy not just the race but a range of attractions in the area.

These include the famous ship the Queen Mary, which is now a floating hotel moored by the city’s shore.

Long beach is also close to Los Angeles with its Hollywood glamour.

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!

The Santa Anita Derby Day, a major event on the Californian racing calendar, is due to take place this year on April 4th.

Those interested in California property who like horse racing may enjoy this event at the Santa Anita Race Course, which is located in Arcadia, Los Angeles.

Featuring three-year olds heading for the Kentucky Derby, the event also offers a range of entertainment and attractions for visitors.

These include a free Derby Day T-shirt, live music and a Hawaiian tropical bikini pageant.

California property may offer investors a number of opportunities to pick up bargains at present, with foreclosed homes being plentiful.

Figures from research firm RealtyTrac published this month showed that in February the state had the highest tally of repossessions, with 80,775 out of a national total of 290,631.

This represented the third highest rate out of the 50 states, with only Nevada and Arizona seeing a larger proportion of foreclosures.

Those keen on investing in California property may be able to find plenty more opportunities to secure foreclosed bargains, new figures have suggested.

Data from research firm RealtyTrac has revealed that the trends for house prices to fall and large numbers of homes to be repossessed are continuing, with over 274,000 properties being either seized or having notices served on them in January.

Among the states with the highest rates of foreclosures, California came second only to Nevada, with one in 173 homes being lost this way.

Such circumstances can lead to many foreclosed properties being available at cheap prices as the banks look to cover their losses.

Earlier this month, research by Zillow showed that over half the property sales in the Central Valley in the state during the second half of 2008 were of foreclosed homes, the highest rate in the whole country.

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!

A drop in the value of California property has been recorded in a new poll.

Research conducted by Zillow has revealed that more than half the sales during the fourth quarter of 2008 in Central Valley, California were foreclosures - the highest amount across the US.

House prices dropped by 33.4 per cent year-on-year in the Stockton area of California, the firm found, news that may interest California property investors seeking a bargain.

Dr Stan Humphries, vice president of data and analytics for the firm, explained why house prices are continuing to fall across the US, stating: "A witch’s brew of economic insecurity, foreclosures and tightened lending standards are helping to keep hard-hit markets down and to widen the scope of markets showing declines in home values."

The trend of falling property prices was also noted by the California Association of Realtors recently.

It said house values plummeted 41.5 per cent in the 12 months up until December 2008.

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!

California is one destination in the US that is very popular with Britons, it has been claimed.

In news that may encourage California property buyers, communications manager at Saga Holidays Carl Catterall said that the large state on the western side of the US is a hit with British tourists.

He noted that Saga does a lot of tours in the region, particularly around San Francisco, which can attract many people over the age of 50.

Furthermore, Mr Catterall suggested that overall more Brits will want to travel to the US following the inauguration of Barack Obama as president.

"We really think with the change of president and the feel good factor in the US, there will be more of a desire to travel there," he remarked.

Investors seeking to purchase California property may find they can pick up real estate bargains in the current climate.

The California Association of Realtors revealed recently that property prices in the state fell 41.5 per cent in the 12 months to December 2008.

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!

President Barack Obama has said he hopes his economic stimulus package can ease its way through Congress and boost the US economy.

The new White House incumbent has been wooing Republican members on Capitol Hill to seek their support for the $825 billion (£577 billion) programme of public spending and tax cuts.

Speaking about the prospects of passing the new plan, Mr Obama commented: "I don’t expect 100 per cent agreement from my Republican colleagues, but I do hope that we can all put politics aside and do the American people’s business."

Should the measure be passed and be successful in boosting the US economy, it may help improve the state of the California property market.

Those looking to buy California property could find that now is a good time to pick up a bargain ahead of any recovery.

The median price for an existing home in the state fell by 41.5 per cent to $281,100 in the year to December 2008, the California Association of Realtors revealed this week.

Southern California property prices dropped by more than a third in 2008, new figures have revealed.

The latest study by MDA DataQuick revealed that in that part of the state the median price in December was $278,000, (£200,000) compared with $425,000 in December 2007, representing a drop of 34.6 per cent.

Such a fall in price may interest those seeking California property bargains in the southern part of the state.

MDA DataQuick also revealed that foreclosed property accounted for an increasing share of the resales market, representing 55.7 per cent of such transactions in December, compared with 24.3 per cent a year earlier.

This may suggest that those seeking the best price for a California property are finding it in the repossessed homes sector.

Last month RBS Greenwich Capital analyst Michelle Girard noted that the state has recently been bucking the trend that has seen property transactions falling in the US, Reuters reported.

She put the increasing sales activity in California down to buyers "taking advantage of substantially discounted prices".

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!