This is the California real estate update for October 27th. Hello this is Mary West and this segment is sponsored by Group 1 Real Estate.

The Realtor Association reports that the housing market for 2017 is optimistic for first-time home buyers. Almost half of these buyers are under 35 years old.

If you are moving to California, consider Orange County. Not only is it more affordable than the Bay Area, Forbes Magazine recently reported that Orange County is one of the most likely places to raise a world class athlete. Athletic resources were analyzed and Orange county ranked high for gymnastics, running, jumping, and swimming.

A special heads-up to our friends in the City of New York. A recent law allows fines up to $7500 on short-term rentals in multiunit buildings. This is a real blow for AirBnb since New York is their biggest market.

Thank you for listening and for a transcript, please visit Group1RealEstate.com. This is Mary West with the California Real Estate Update by Group 1 Real Estate.