Tuesday, May 29, 2007
Source: usatoday.com
The Monterey area is more urbanized and varied now than when John Steinbeck wrote Cannery Row in 1945, and that's reflected in the varying real estate market. The customary farming region of Salinas has detonated with new progress, not only to keep up with the growing population but as well to house middle-class families who can no longer pay for the still-rising home costs in the coastal towns.
Home sales in Monterey are moribund, though, as they are all over California. Many of the new homes in Salinas are sitting vacant, and lenders through foreclosure are seizing more houses, says Leslie Appleton-the Young, chief economist for the California Association of Realtors.
Do not be fooled, she says, by the 12% raise in the median home cost in April. In a number of areas, costs are falling, but the median price — half the houses price more, half price less — are rising for the reason that of strength in the top end of the marketplace. Wealthy buyers, who are unaffected by interest rates, gas costs or rising belongings taxes, are ongoing to purchase second and retirement houses in tony areas like Carmel and Pebble Beach.
The Monterey area is more urbanized and varied now than when John Steinbeck wrote Cannery Row in 1945, and that's reflected in the varying real estate market. The customary farming region of Salinas has detonated with new progress, not only to keep up with the growing population but as well to house middle-class families who can no longer pay for the still-rising home costs in the coastal towns.
Home sales in Monterey are moribund, though, as they are all over California. Many of the new homes in Salinas are sitting vacant, and lenders through foreclosure are seizing more houses, says Leslie Appleton-the Young, chief economist for the California Association of Realtors.
Do not be fooled, she says, by the 12% raise in the median home cost in April. In a number of areas, costs are falling, but the median price — half the houses price more, half price less — are rising for the reason that of strength in the top end of the marketplace. Wealthy buyers, who are unaffected by interest rates, gas costs or rising belongings taxes, are ongoing to purchase second and retirement houses in tony areas like Carmel and Pebble Beach.
posted by nisha
@ 4:51 AM
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Wednesday, May 23, 2007
The Arab Banking Corporation’s UK subsidiary, ABCIB Islamic Asset Management Limited (IAM), Kuwait-based GSH (Global Securities House) and the Broe Companies of the USA have publicized the start of The Bronco Fund, a worth add Shariah-compliant real estate fund.
The fund’s intention is to obtain a diversified portfolio of offices and
industrial assets situated in major US cities using the value add investment plan.
The firms claim that the fund has already made its first attainment - an office
construction in San Francisco’s South Financial District.
The fund’s intention is to obtain a diversified portfolio of offices and
industrial assets situated in major US cities using the value add investment plan.
The firms claim that the fund has already made its first attainment - an office
construction in San Francisco’s South Financial District.
posted by nisha
@ 5:28 AM
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