THE NATIONAL ASSOCIATION OF REALTORS® says that lower home prices are turning potential buyers into active lookers, and sellers are showing more willingness to negotiate.
AB 2100 (Laird) Homeowner Association Reserve Account. This law, signed by the Governor, is vital to homeowners because it will complete the budgeting process for homeowners by requiring HOAs (Homeowner Associations), to provide members with clear and concise information on how much they will have to pay for the association’s special and regular assessment needs, such as the replacement of roofs or repair of building exteriors.
The CapAnalysis Group for the Real Estate Services Providers Council, an economic consulting firm, has released a study which says that home buyers pay no more in settlement costs when they deal with affiliated real estate companies than they do if they conduct business with independent, unaffiliated companies.
The council commissioned the survey in response to government scrutiny of settlement services that are directly or indirectly owned by the company or individuals referring the business.
The nation’s 78 million baby boomers have diverse plans and timelines for their retirement years, resulting in different housing requirements and significant shifts from patterns established by earlier generations, according to a study by NAR.
The survey revealed much about where retiring baby boomers will move and how much money they will have available to spend on housing.
Ø Sunbelt is the popular choice. Forty-two percent would like to retire in the South, 32 percent in the West, 15 percent in the Midwest and 12 percent in the Northeast.
Ø High median income. Most boomers live in two-income households with a median income in 2005 of $64,700, which is 31 percent higher than the median for all households.
Ø But not everyone is rich. Baby boomers earning $100,000 or more, the study shows that more than 9 in 10 are home owners. Renters make up 19 percent, 37 percent say that have just enough to make ends meet and 17 percent say they are having financial difficulty.
Ø Diverse real estate holdings. A quarter of baby boomers own one or more other kinds of real estate in addition to a primary residence: 13 percent own land, 8 percent own rental property, 7 percent a vacation home or seasonally occupied property, 2 percent commercial real estate and 3 percent some other kind of real estate.
The Air Quality Management District (AQMD) is participating in an innovative technology project to capture and treat emissions from diesel train locomotives.
The new system, known as the Advanced Locomotive Emission Control System (ALECS), for the first time will apply technology used to capture emissions from industrial plants to near-stationary locomotives.
ALECS is expected to reduce sulfur dioxide by 99 percent, particulate matter by 99 percent, nitrogen oxide by 95 percent and water-soluble volatile organic compounds by 50 percent from captured and treated locomotive emissions. All of these pollutants are significant contributors to poor air quality anywhere diesel engines are present.
The ALECS includes a stationary emissions treatment unit that is connected to diesel locomotives with flexible ducts and a hood designed to fit over and attach to the exhaust stacks. Diesel-related emissions are then captured and treated rather than being released into the air.
Safety tip of the week: Check your credit. One of the best ways to protect yourself from identity theft is to monitor your credit history. You can get one free credit report every year from each of the three national credit bureaus: Equifax, Experian, and Trans Union. Order a free report from each of the credit bureaus every four months. Order your free annual credit reports by phone, toll-free, at 1-877-322-8228, or online at www.annualcreditreport.com/cra/index.jsp.
October is “Voter Education and Participation Month” and being sponsored by The Secretary of State and the California Association of Clerks and Election Officials. This is to let every citizen know how simple, convenient, and important it is to register and participate in the electoral process. The cornerstone to our democratic government is the public’s right to vote.
October 23rd is the last day to register to vote: In order to vote you must be registered.
Last day to apply for an absentee ballot is October 31st.
Richard Tegley is a Realtor® and President of the Multi-Regional Multiple Listing Service Inc., (MRMLS); State Director of the CALIFORNIA ASSOCIATION OF REALTORS® and National Director of the NATIONAL ASSOCIATION OF REALTORS®. Richard can be reached at (951) 533-9340 or email Tegley@surfcity.net
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