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Buoyant Emerging News For California!

By
Real Estate Agent

https://www.activerain.com/blogs/myrljeffcoat

There has been really exciting news emerging about California these past several days! These developments are surfacing from a variety of sources.

(1) DataQuick, a real estate research firm reported that California foreclosure activity dove 38% in the last quarter of 2012 in comparison to the same quarter of 2011.  The tally was the lowest fourth quarter, since 2006.

(2) Zillow added additional optimism about California housing, when it forecast a 12% increase in Sacramento home values for 2013.  The Greater Sacramento market rapidly changed from a Buyers market to a Sellers market several months ago.  The capital city, and other regions around the state are experiencing dramatically reduced housing inventory.

It has been many years since citizens of California have been painted as rosy a picture, as they were during the State of the State Address, as presented by Governor Jerry Brown this morning.  Yes, folks, California has a balanced budget.  And although I thought Governor Moonbeam of the 1980s was pretty dreamy, nothing compares to the golden words uttered from his mouth today.  Even many of our Republican representatives seemed to savor what he was saying.   In addition to the revelation of our improved financial situation, other important points included:

(A) Remarks about improving our state regulations in order to make California more competitive and friendlier to business.

(B) Ideas to reduce the rapid rate of student tuition at our universities and colleges.

The Governor emphasized during his speech, "We have promises to keep. The most important one is the one we made to the people if Prop 30 passed. This means living within our means and not spending what we don't have."  He also promoted “building reserves against the leaner times that will surely come."

It is beginning to look like California is moving forward in the effort to cure our financial ills, and truly become The Golden State once again!

Posted by

Myrl Jeffcoat ActiveRain Signature
  

Comments (16)

Terrie Leighton
Ferrari-Lund Real Estate - Reno, NV
Reno Real Estate Agent ~ Selling Homes in Reno

Sounds like your economy is looking better and better! Fingers crossed it will continue to rise.

Jan 24, 2013 06:07 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Terrie - The first report about declining foreclosures came out at the beginning of the week.  It was quickly followed by the 12% increase in home value prediction by Zillow.  Both reports were topped off with the exhuberant news emanating from the State of the State address this morning.  There is loads to be positive about in California today!

Jan 24, 2013 06:50 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Myrl,

Good news and I am delighted you are sharing them with us...we met with two bankers yesterday, and their outlook was markedly different, I will take yours anyday...Have a great Friday, A

Jan 24, 2013 07:39 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Alexandra - I have been reluctant to present any forecasts on the direction the housing market will take.  However, statistical data as logged by our MLS demonstrates we are moving in a positive direction.  I am very encouraged by the reports surfacing from Zillow and DataQuick.  The Governor's State of the State address today was icing on the cake!

Jan 24, 2013 08:10 AM
John Pusa
Glendale, CA

Myrl - This is great news, there are not much listing available for sale in the market. Thanks for the information about Buoyand emerging news for California.

Jan 24, 2013 08:17 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Myrl

Governor Jerry Brown sounds up beat about the future for California.

Good luck and success.

Lou Ludwig

Jan 24, 2013 08:28 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

John - I am hopeful this recovery has some real teeth to it.  If we can keep from being over exhuberant at the state level, then we will be in really good position for a healthy economy in our future.

Lou - He really did!  Although Governor Brown is a Democrat, he tends to be more fiscally conservative than one would expect.  I see that as a really positive thing!

Jan 24, 2013 08:37 AM
Jack Mossman - The Nines Team at Keller Williams in Stockton
The Nines Team At Keller Williams - Stockton, CA
The Nines Team at Keller Williams in Stockton

Myrl - Seems like we have spent too much of the last year letting "media" put the market into perspective ... theirs and the agenda they promote.  As local agents, we know the markets better than the "press" ... we just have to be more vocal about it!

Jan 24, 2013 11:33 AM
ASHEVILLE REALTY REFERRAL RESOURCE 828-776-0779
REAL ESTATE REFERRAL NETWORK - Asheville, NC
CONTACT janeAnne365@gmail.com

Myrl~ YAY! Good news!!! YAY! Leading edge California points the way to possibility

Jan 24, 2013 01:13 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Jack - I just keep reading the stats from the MLS, and other reliable sources of statistics.  The reports coming out today, only confirm what the data info has been telling us for awhile now.  And yes, we need to be more vocal about it!

JaneAnne - The good news made my day:-)

Jan 24, 2013 02:14 PM
William Johnson
Retired - La Jolla, CA
Retired
Hi Myrl, You sound honestly inspired and I hope that every potential you see in our state comes to pass.
Jan 24, 2013 02:19 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Myrl,

With every point you made I heard myself saying Yeah and cheering you on!!!

This is GREAT news as CA paves the way into the future and stimulates the economy.

I can almost hear voices singing, "California here I come...!!!"

Yes siree, it's a beautiful day in the neighborhood in good old Sacramento :)

Jan 25, 2013 07:34 PM
Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

Myrl - that is super news and as goes CA; so goes the rest of the country! (eventually :). Glad you enjoyed my pirates.

Jan 25, 2013 09:52 PM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing this very good news for California residents.

Have a very special weekend.

Jan 26, 2013 12:55 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I wouldn't put much faith in Zillow -- it's just a computer generated algorithm that is often very wrong. Zillow is in the web business and not the real estate business anyway. And I know you've got the hots for Jerry Brown, LOL. Let's see, Myrl, if you were locked in a room with Jerry Brown and William Johnson for the weekend, I imagine that would be heaven for you. I'm so bad. Ha, ha, ha.

Jan 26, 2013 02:33 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

William - I am hopeful for the sake of California that these pre-glimpses, materialize into a great economy with some teeth to it. 

Patricia - Those are songs I would love to hear in my home state and hometown:-)

Toni - As you know, most any post that has pirates as the topic is a great one for me:-)

Elizabeth - You are way too funny!  I am fairly certain Jerry Brown and William Johnson are on opposite sides of the political spectrum.  Therefore if the three of us were locked in a room together.  I suspect, I would only be in a chair watching a boxing match. . .Thank God, I'm an Independant/Non-partesan!  Still, I suspect either of those guys would make excellent company:-)

Jan 26, 2013 05:09 AM