C.A.R. Reports Median Home Price Increased 17.3 Percent in September

The median price of an existing, single-family detached home in California during September 2005 was $543,980, a 17.3 percent increase over the revised $463,630 median for September 2004, C.A.R. recently reported. The September 2005 median price decreased 4.4 percent compared with August's revised $568,730 median price.

"The September median home price compared with August has fallen every year since 1993, and in 20 of the last 26 years," said C.A.R. President Jim Hamilton. "This year is no exception and is part of the seasonal shift to an off-peak period in the real estate market as we approach year's end."

Closed escrow sales of existing, single-family detached homes in California totaled 650,780 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR. associations statewide. Statewide home resale activity increased 3.9 percent from the 626,210 sales pace recorded in September 2004.

Lake Arrowhead Home Prices in 2005

Building moratorium on Arrowhead Woods property in Lake Arrowhead?

As of today, it is business as usual in the Arrowhead Woods. However, that could soon change.

LACSD, which draws water from the lake and provides it to Arrowhead Woods homeowners, could soon be forced to find another source of water, or incur penalties. The State Water Resources Control Board rendered a staff decision which could also create a building moratorium in the Arrowhead Woods affecting a huge portion of Lake Arrowhead real estate and property. LACSD has set a hearing with the State Board for November 9, 2005.

Here is a brief history of the issue:

On March 24, 2003, Theodore Heyck filed a Water Rights Complaint against the District with the State Water Resources Control Board (State Board). On April 19, 2003, the Arrowhead Lake Association (ALA) filed a Water Rights Complaint against the District with the State Board. On February 10, 2004 a Draft Report was issued by the State Board and shortly after ALA joined the Lake Arrowhead Community Services District and the two agencies worked cooperatively together to submit additional evidence for the State Board's review. The State Board rendered a Staff Decision, dated August 1, 2005, regarding the Water Rights Complaints which:

-Concludes that the District does not have the right to draw water from Lake Arrowhead

- Imposes penalties for continuing to draw water from the Lake

- Creates a building moratorium within the Arrowhead Woods area

The District requested a hearing before the full State Board. The hearing date has been set by the State Board for Tuesday, November 8th at 10 a.m. in Sacramento and continuing, if necessary, on Wednesday, November 9th.