San Gabriel Valley: Pioneers and Outlaws of the San Gabriels

San Gabriel Valley:
Pioneers & Outlaws of the San Gabriels

San Gabriel ValleyOwens, Brown, Rankin, Vasquez, Vincent … Names That Shaped Area’s History

The San Gabriel Valley is rich in history and lore. From “mountain men” to “bandits” to “water barrons” … all have had their say in the development and history of the San Gabriel Valley.

In conjunctiion with our new residential focus here at the Costa Real Estate Digest … refocusing in on San Gabriel Valley Homes as far as residential real estate is concerned … we’re also going to widen our scope of information on that area as well. We’ll be posting items of interest to the area, from local happenings to bits of history. We hope you find it helpful and informative.

Today’s bit of history comes from KCET, the PBS station for Southern California. Here’s a great article that talks about some of the “movers and shakers” that helped form the San Gabriel Valley area … some for good and some for bad. It’s a colorful history, and this is a good read with some great photos both old and new.


Mountain Men: Pioneers and Outlaws of the San Gabriels – KCET Tue, 12 Nov 2013 01:16:39 GMT

KCETMountain Men: Pioneers and Outlaws of the San GabrielsKCETIn time, Owens earned enough money from doing odd jobs in the San Gabriel Valley to buy his family’s freedom and bring them via an ox-drawn wagon from Texas to their new home. Even in the …

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Real Estate News – Federal Tax Aid for Homeowners May Expire

Real Estate News:
Federal Tax Aid For Homeowners May Expire

Caliifornia Home ValuesCan Congress Get It Together To Do Anything By Years End?

As the article here says, it seems we’ve seen this movie before, and if the recent performance of Congress as a whole … especially the House … is any indicator, the real estate news here may not be good. On December 31 of this year, provisions of the law favorable to home owners and buyers regardiing tax treatment of mortgage relief, tax credits for energy improvements, and some buyers’ insurance premium write-offs, may all expire. 

California home sellers will be exempt from the worst of these expirations, which may see homeowners selling through short sale transactions and waiting for their excrow to close, surprised. If the current extensions to certain laws expire and their escrows don’t close by Dec 31, they may see the amount of their loans the lenders are writing off in their Short Sales be termed Taxable Income by the IRS. Californians are protected from this by a state law passed to head this off, but folks in most other states are not similarly protected. And, the provisions that could expire regarding energy efficient improvements and premium write-offs would hit here in Californiia as hard as anywhere else.

Here’s an article by Kenneth R. Harney in the L.A. Times that explains the whole thing:

Key federal tax aid for homeowners in danger of expiration

WASHINGTON — Haven’t we seen this movie before? On Capitol Hill for the second year in a row, key federal tax assistance for homeowners is heading for expiration within weeks. And there’s no sign that Congress plans — or has the minimal political will — to do anything about it.,0,7456238.story#axzz2kvrMHxSN

Will Congress Play The Grinch this Holiday?

In reading the article, there doesn’t seem to be much discussion of this at all in Washington. One of the brighter points of our struggling but slowly rebounding economy is the real estate market. Southern California is doing fairly well in that respect. Will Congress find the Holiday Spirit and support our homeowners and sellers by doing what it takes to keep things as they are? Or will Congress continue in the same way it has lately … and decide to play the Grinch this year by doiig nothing?

Expectations here are not high, but watch this space.

Inland Southern California Real Estate Market Hottest In Nation

Real Estate Values:
Inland SoCal Market Hotest In Nation

California Real Estate ValuesInland Empire Home Sale Market Shows No Real Sign Of Slow-Down

Christopher Thornberg, the founding partner of Beacon Economics, has an optimistic view of the Inland Empire residential real estate market these days. At a recent “economic summit” in Riverside, Thornberg said he sees no real signs of any market slow-down at present and predicts both rising prices and brisk activity through 2014.

Raphael De Anda, another of Beacon’s economists, says the market view from an investment standpoint is also good as appreciiation is at “an all-time high”. This good news apparently extends to the entire Southern California real estate market, but the Inland Empiire does have the “affordability advantage”.

Inland SoCal Market Hottest In Nation

REAL ESTATE: Inland SoCal market, “hottest” in nation – Press-Enterprise (blog) Tue, 29 Oct 2013 07:06:10 GMT

REAL ESTATE: Inland SoCal market, hottest in nation … Press-Enterprise (blog)

At today’s Beacon Economics economic forecast conference in Riverside, Rafael De Anda will release a report that says this was not your imagination. Many new homeowners should …

Rates Since Report May Signal Good Holiday Buying Season

We’re finding good news throughout the Southern California real estate market. In residential real estate the market had appeared to slow a bit over the last couple of months and interest rates had begun to rise some. However, from a “technical” standpoint, the market now appears to be firming up again. Values appear as if they might be hitting support, and interest rates are now lower than they were at the beginning of October. These two indicators, factored together, indicate we may be entering a good “Buying Window” for savvy home buyers.

Real Estate Values: CAR Reports Values Down In September

Real Estate Values:
CAR Reports Values Down In Sept

Caliifornia Home ValuesRise In Prices Slows In September As Interest Rates Rise

The California Association of Realtors latest report on Home Values show that values in California Home Sales dropped in September to their lowest levels since February. However, they were still above September value levels for the same time period of last year.

Part of the drop in values could be traced to rising interest rates. However, it should be noted that this report was released in mid-October, and rates have fallen again siince that time.

September Home Sales & Price Report

September home sales and price report – California Association of Thu, 17 Oct 2013 17:03:52 GMT

LOS ANGELES (Oct. 17) – California home sales declined for the second straight month in September, following rising interest rates and economic uncertainty, which put the demand for housing on hold for buyers.

Rates Since Report May Signal Good Holiday Buying Season

As stated above, mortgage rates have fallen again since this report. In fact, today’s rate of aproximately 4.15% (30 year fixed) is lower than the 4.30% reported on Oct 1. This may signal two things: 1) An opportunity for buyers over the Holiday season; and, 2) a possible bottom to this value reversal we’ve seen over the last couple of months.