Lake
Tahoe Real Estate - Single Family - HighlandWoods
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Tahoe Real Estate - Condo/Townhouse - HighlandWoods
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Tahoe Real Estate - Multi Family - HighlandWoods
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Tahoe Real Estate - Land - HighlandWoods
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Tahoe Real Estate - Commercial - HighlandWoods
CALIFORNIANS PASS PROPOSITIONS 64 AND 1A
Two statewide propositions supported by C.A.R. were approved
by voters during yesterday's election. 58.9 percent of voters
said yes to Proposition 64, the measure to stop shakedown
lawsuits and require attorneys to actually have a client who
has been harmed before suing small businesses. Earlier this
month, the State IMPAC Trustees approved $30,000 for this
campaign, bringing the total contributions to Yes on Proposition
64 to more than $230,000. Local associations contributed approximately
$14,000 from local IMPAC funds. This is an important win for
C.A.R. and its allies, who have been working to reform the
Unfair Competition Law for years. Proposition 1A, the historic
bipartisan agreement between local governments and the Governor
to prevent the State Legislature from raiding local government
funds after 2006, also passed on Tuesday, with 83.6 percent
of voters approving the measure. IMPAC contributed $50,000
to the Yes on Proposition 1A campaign.
REAL ESTATE CONSTRUCTION SPENDING TOPS $1 TRILLION
According to a report released by the U.S. Census Bureau on
Monday, the value of total construction put in place during
September was estimated at a seasonally adjusted annual rate
of $1,013.9 billion, nearly unchanged from the revised August
estimate of $1,014.0 billion. This represents an increase
of 8.9 percent compared with the September 2003 estimate of
$930.8 billion. September 2004 was the second straight month
where the projected rate of spending topped $1 trillion. The
report also estimated spending on private construction, including
residential and non-residential construction, at a seasonally
adjusted annual rate of $777.5 billion, 0.1 percent below
the revised August estimate. Total spending on private residential
construction was estimated at $551.6 billion. Spending on
total public construction was estimated at a seasonally adjusted
annual rate of $236.4 billion. Public residential construction
spending was $8.34 billion, roughly even with the August 2004
rate and 18.5 percent above the September 2003 rate.
C.A.R. AWARDS SCHOLARSHIPS TO 11 COLLEGE STUDENTS
Established in 1948, C.A.R.'s Scholarship Foundation awarded
11 scholarships to college students planning careers in real
estate at California REALTOR® EXPO 2004 in Santa Clara. Scholarships
are awarded three times annually, during C.A.R. board of directors
meetings in January and June and at the annual California
REALTOR® EXPO and business meetings held in the fall. "Recipients
of a C.A.R. Scholarship Foundation award have demonstrated
a serious commitment to a career in real estate," said C.A.R.
President Ann Pettijohn. "They've completed a minimum of two
real estate or real estate-related college-level courses and
are currently enrolled in at least one real estate or real
estate-related course. C.A.R.'s scholarships address our goal
of bringing new professionals into the real estate industry
and training them with the skills required to effectively
meet the needs of future homeowners in California."
HELP-WANTED ADVERTISING INDEX DIPS ONE POINT The
Conference Board announced that the help-wanted advertising
index decreased one point to 36 in September from 37 one year
ago. Because ad volume is historically sensitive to the labor
market, the help-wanted advertising index gauges the current
job supply. In the last three months, help-wanted advertising
declined in eight of the nine U.S. regions, with the steepest
declines reported in the South Atlantic (-13.0 percent), New
England (-10.8 percent), and West North Central (-9.9 percent)
regions. "The labor market remains flat and has clearly started
to weigh negatively on consumer confidence," said Conference
Board Economist Ken Goldstein. "Want ad volume was basically
flat all spring and summer. Initial unemployment claims nationally
have been essentially unchanged from March through mid-October.
With the Leading Economic Index declining for four straight
months, the labor market could even be losing momentum going
into the final months of 2004."
Information provided by - C.A.R. Newsline is published by
the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association
representing more than 135,000 REALTORS® statewide.
