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Twain Harte Home

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Americans View Housing as Strong Investment

As the housing market continues to stabilize, homeowners across the country rate their homes as their most valuable investment, according to a recent study conducted on behalf of the National Association of Home Builders (NAHB).

Nearly seven of 10 homeowners list their home as their top investment, while 11 percent rate 401(k) and other retirement accounts as their best investment. Eighty-one percent of homeowners also remain confident that the value of their home will increase during the next five years, while 13 percent felt their home value will decline.

"We are in the midst of an inevitable adjustment following the housing boom of 2004-2005 when housing market activity soared to unsustainable levels," said NAHB Chief Economist David Seiders.

"Housing demand should stabilize in short order and the downward adjustment to housing production should run its course by mid-2007."
[ed: boy was he wrong!]

Six California Cities Listed Among American's 25 Safest

Six cities in the state of California, more than any other state, are among the top 25 safest cities in America, according to the 13th annual Safest City Award. California's "safest" citie are Mission Viejo (#3), Irvine (#7), Thousand Oaks (#11), Lake Forest (#15), Simi Valley (#17), and Chino Hills (#21). Brick, NJ was named "America's Safest City."

Fast Facts (Source: C.A.R.)

California Housing Facts
California median home price - October 2006: $548,680
California highest median home price by C.A.R. region October 2006: Santa Barbara So. Coast $1,115,000
California lowest median home price by C.A.R. region October 2006: High Desert $328,650
California First-time Buyer Affordability Index - Third Quarter 2006: 24 percent
Mortgage rates - week ending 12/14/06:
30-yr. fixed: 6.12%; Fees/points: 0.4%
15-yr. fixed: 5.86%; Fees/points: 0.5%
                                            ~ Meriadoc Brandybuck

Twain Harte Home
P.O.B. 1645
Twain Harte, CA 95383
(209) 586-9652