Santa Clarita Valley Real Estate

Market to Slow Moderately in the New Year The rate of home appreciation will post a modest decline in 2007 following several years of steep increases, while the sales pace will decrease as the market stabilizes throughout the year, according to the California Association of REALTORS 2007 Housing Market Forecast. The median home price in California will decline 2 percent to $550,000 in 2007 compared with a projected median of $561,000 at the end of 2006. Sales of existing homes are projected to decrease 7 percent to 447,500 units, compared with 481,200 units (projected) in 2006. "The housing market clearly downshifted in 2006 from the record-setting sales and robust price gains of the last few years," said C.A.R. President Vince Malta. "The residential real estate market in 2006 has been characterized by a gap between buyer and seller expectations. Sellers sensed that the peak of the market was approaching, yet still hoped to obtain the highest possible prices. Buyers'

Your credit score is likely the most important three-digit number in your life. Your score affects how much you pay for credit, and it can affect other bills you pay, where you live and where you work. Banks and credit card companies review your score when deciding whether to extend you credit and how much interest to charge. (See " What bad credit really costs you .") A high score can lead to lower car- and home-insurance premiums, a deposit waiver from utility companies and a better service package from the cell-phone company. (See " 5 people who check your credit .") Many landlords check credit scores before allowing you to sign a lease. (See " Credit checks: A civil rights issue? ") Many employers -- 35% in 2003 -- are doing credit checks on prospective employees, particularly those who would deal with money. Employers need your written permission to make the check and must give you a chance to respond. With so much at stake, it's wise to find out