The Least Affordable Place to Live? Try Salinas In 2005, the least-affordable place in the country to live, measured by the percentage of income devoted to mortgage payments, was Salinas, Calif. The second was the Santa Cruz-Watsonville area of California. The third? Santa Rosa-Petaluma, Calif.
Category Archives: Investment Tips
Foreclosures — No Worries, No Vision
Foreclosures — No Worries, No Vision The lending community will plainly tell you that foreclosures are on the rise — in part because of rising interest levels — but don’t worry. According to the party line, there’s no need for alarm because the overwhelming majority of owners will not be foreclosed. The alleged logic here …
Bargains forecast
Bargains forecast When his landlord raised the rent one time too often, John Polite decided it was time to buy. But on a new minister’s salary, he would need to find a bargain. “That’s the only way I was going to get into anything,” he said. So in 2002 he did what many wanna-be homeowners …
Home sales slip, condos soar [Central Florida]
Home sales slip, condos soar [Central Florida] The number of homes on the market in Orlando ballooned again last month as sales of single-family houses continued to cool and the momentum shifted strongly to condominiums, according to figures released Wednesday. The Orlando Regional Realtor Association’s inventory reached a record 14,559 homes in March — a …
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Glut keeps rental rates down
Glut keeps rental rates down Think the auto industry is tough? Try the office market. Back in the mid-’80s, developer Peter Burton built the Arboretum office park in Farmington Hills and advertised space at the going rate of $18 per square foot. Today, in an office market awash with high vacancies and low demand, the …
Where water sells [Central Florida]
Where water sells [Central Florida] For Karen Woods, it’s all about location. She remembered a real-estate expert telling her: “If you’re going to invest in property, buy on water. God only made so much of it.” That’s why the 40-year-old Clermont woman and her husband, Jim, recently paid $450,000 for a condominium along the Indian …