Nevada City Virtual Tour

Friday, December 13, 2013

Equity home sales post higher in September

Equity home sales post higher in September

The share of equity home sales in California continued to grow in September, now making up more than eight of every 10 home sales, the highest level in nearly six years. Meanwhile, the share of short sales fell into the single digits and dropped to levels not seen since January 2009, C.A.R. reported this week.

The share of equity sales – or non-distressed property sales – rose again for the 10th straight month, making up more than eight in 10 sales, the highest share since November 2007. The share of equity sales in September increased to 85.8 percent, up from 84.7 percent in August. Equity sales made up 62.7 percent of sales in September 2012.

Conversely, the combined share of all distressed property sales continued to decline in September, dropping to 14.2 percent in September, down from 15.3 percent in August and down sharply from 37.3 percent in September 2012. Twenty-six of the 38 reported counties showed a month-to-month decrease in the share of distressed sales, with San Diego, San Mateo, and Santa Clara tied for the lowest share at 4 percent.

Friday, December 6, 2013

Bubble Housing Markets Show Signs of Cooling?

Certain Housing Market Shows Signs of Cooling in Q3

A summer-long cool-down in the pace of home value appreciation is helping a handful of markets step back from the edge of bubble territory, according to the third quarter Zillow Real Estate Market Reports. The U.S. Zillow Home Value Index stood at $163,000 at the end of the third quarter, up 6.4 percent year-over-year and 1.2 percent from the end of the second quarter, but unchanged from August. The quarterly pace of appreciation was roughly half that experienced in the second quarter.

At the end of the third quarter, the national pace of monthly home value appreciation had fallen in each of the past three months, and turned negative in San Diego, -1.2 percent; Los Angeles, -1.1 percent; and San Francisco, -0.1 percent, , after reaching into the 3-percent range in all three metros just a few months ago. Among the top 30 largest metro areas covered by Zillow, half showed monthly depreciation at the end of the third quarter. As recently as July, all of the top 30 metro areas showed positive monthly appreciation, with none exhibiting a monthly pace slower than 1 percent month-over-month.

Despite falling monthly appreciation, home values in most areas continue to grow year-over-year. All 30 of the largest metro areas experienced annual gains in September, with the largest coming in Sacramento, Calif., 34.1 percent; Las Vegas, 33.3 percent; and Riverside, Calif., 31.8 percent. Annual appreciation is expected to slow markedly over the next 12 months as moderation spreads, to an annual pace of 3.8 percent nationwide by September 2014, according to the Zillow Home Value Forecast.

Monday, December 2, 2013

Victorian Christmas Horse Drawn Carriage Rides Nevada City

Victorian Christmas Starts Dec 4 Victorian Christmas Wednesdays, December 4, 11 & 18 • 5-9pm Sundays, December 15 & 22 • 1:30-6pm The enticing aromas of roasted chestnuts and hearty holiday foods fill the air, along with cries of street vendors hawking their wares and lamp-lit streets filled to overflowing with authentic Christmas treasures. It’s the 35th one & only […]
Dickens’ “A Christmas Carol” thru Dec 24 LeGacy Productions will present “A Christmas Carol” at the Nevada Theatre from November 29th to December 24th. Susan Mason directs the local all-star cast in this delightful adaptation by Jeffrey Mason. The talented Jeffrey Mason also plays Ebeneezer Scrooge, the London businessman who must look back at his life to examine his wrong doings, and […]
Horse-Drawn Carriage Rides in Nevada City Victorian Christmas is here once again and the Nevada City Carriage Company will be providing Horse & Carriages to accent that Old time Victorian Christmas feeling that is Nevada City at Christmas. The carriages will start on Friday November 29th and operate each Victorian Christmas event right up through New Years Day! Drivers Dave Vertin […]
Artist Daniel Brooks at NC Winery Dec 6 December is the month of giving and do we have a gift for you. Throughout the month, we will feature the artwork of Daniel Brooks. We will host an evening to come in and meet the artist himself on Friday, December 6th, from 6:00pm to 8:00pm. Mr. Brooks is a Nevada County native who is […]
Christmas at the Railroad Museum Dec 7 Christmas at the Railroad Museum Saturday, December 7 • 10am-3pm 5 Kidder Court, Nevada City Admission is free! Bring the entire Family! For more information please call (530) 470-0902 or go to www.ncngrrmuseum.org  

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