The median sales price of new houses sold in March 2012 was $234,500; the average sales price was $291,200. The seasonally adjusted estimate of new houses for sale at the end of March was 144,000. This represents a supply of 5.3 months at the current sales rate.

source: C.A.R.

 2 ripe avocados
 1/2 red onion, minced (about 1/2 cup)
 1-2 serrano chiles, stems and seeds removed, minced
 2 tablespoons cilantro leaves, finely chopped
 1 tablespoon of lime or lemon juice
 1/2 teaspoon salt (coarse, if available)
 Dash of black pepper
 1/2 – or whole ripe tomato, seeds and pulp removed, chopped

Cut avocados in half.
Remove seed.
Scoop out avacado from the peel – put in mixing bowl.
Using a fork, mash the avocado.
Add the chopped onion, cilantro, lime or lemon, salt and pepper and mash some more.
Chili peppers vary with hotness.
Start with a half of one chili pepper and add to the guacamole till you reach your desired degree of hotness.
Be careful handling the peppers; wash your hands thoroughly after handling and do not touch your eyes or the area near your eyes with your hands for several hours.
Keep the tomatoes separate until ready to serve.

Cover tightly with plastic wrap to prevent the air from reaching it.
Refrigerate until you are ready to serve it.
Just before serving, add the chopped tomato to the guacamole and mix.

Serve with corn tortilla chips.

Cinco de Mayo—or “Fifth of May”—is a Mexican holiday that commemorates the victory of the Mexican army over an invading French army at the Battle of Puebla in 1862. It is not, as many people mistakenly believe, Mexico’s Independence Day. Although the Mexican army was eventually defeated, the Batalla de Puebla became a symbol of Mexican unity and patriotism. With this victory, Mexico demonstrated to the world that it was willing to defend itself against foreign intervention.

San Diego Ho’ Olaule’ a/Keiki (Canoe Regatta & Festival)     May 5-6
Come early to this Island Village where you can observe the Hawaiian greeting of chanting and the blowing of a conch shell. A canoe regatta accompanies this event. 9am-6pm. East Mission Bay. (760) 807-5567 / www.huilimahanaelua.com   

Beer Run 5K Access Youth Academy     May 5
5K event that begins and ends at the Green Flash Brewing Company. Participants age 21+ are treated to tasts of beer at the finish. Proceeds benefit enrichment programs at the Access Youth Academy. 12-2pm. $25-$40. (858) 202-0406 / www.accessyouthacademy.org 
 
Island Divine – Sea Island A Southern Soiree     May 5
Adult-only premier event in La Jolla. Guests can have an enjoyable time tasting exquisite food and beverage samples from popular restaurants, wineries, and microbreweries.  3-7pm. Ellen Browning Scripps park at La Jolla Cove. (619) 233-5008 / www.jlsd.org  

San Diego Humane Society & SPCA Walk For Animals     May 6
Dogs and people are coming to Crown Point Shores to go on a special walk that promotes the humane treatment of animals. Music and a Vendor Village. 7am-2pm. West Mission Bay. $35 (age 18 & older) ~ $5 (age 17 & younger) (619) 243-3408 / www.sdhumane.org
 
Fiesta de los Penasquitos     May 6
A fun festival in Rancho Penasquitos showcases local musicians, artists, businesses, schools, and service organizations. There are plenty of booths to shop for merchandise or get a tasty lunch. 11am-5pm. (858) 324-1881 / www.fiestapq.com 

SCRA Community Fair & Art Festival     May 6
Residents of Scripps Ranch can enjoy a day of performances and activities at this festival. People can shop at merchant booths, stop for lunch, and visit a Wine Tasting Garden. 12-8pm. Scripps Ranch Community Park: 11454 Blue Cypress Rd. (858) 337-6344 / www.scrippsranch.org 
 
ITU World Triathlon (Expo)     May 10-12
A 3-day sports expo is happening at Bonita Cove in West Mission Bay. There’ll be DJ music, food, sports merchandise, and a beer garden. In conjunction with "ITU World Triathlon Elite Races & Age Group Races". 1-6pm. (619) 699-2312 / www.sandiego.triathlon.org 

SpringFest 2012     May 11-12
The community of Allied Gardens is celebrating the Season of Spring. Local bands, great foods, merchandise booths, and a beer & wine garden. Bring your friends to mingle and dance. 5-11pm. Allied Garadens Comm. Park: 5155 Greenbrier Ave. (619) 279-6974 / www.navajoevents.com
 
Asian Cultural Festival of San Diego     May 12
You’ll experience a full day of costumed performances and exceptional music. Enjoy martial arts and cooking demonstrations, cultural exhibits, and interesting merchandise. 10am-6pm. Liberty Station. (504) 390-3271 / www.asianculturalfestivalsd.com  

American Indian Culture Days     May 12-13
A colorful presentation of an American Indian Pow Wow is happening in Balboa Park. Highlights include drumming, dancing, singing, storytelling, and the sound of a solo flutist. 10am-6pm. (619) 281-5964 / www.indianhrcenter.org
 
Ocean Beach Beach Ball Festival     May 16-20
Come to the beach for a live music action sports microbrew festival that features fun activities throughout 5-days. There’s beer, food, merchandise, and beach volleyball games. 12-10pm. (619) 224-4906 / www.oceanbeachsandiego.com

Jack in the Box "Hoops at the Beach"     May 19-20
Largest 3-on-3 basketball tournament in San Diego. Mini-courts are set up to accomodate players of all ages in half-court basketball games. Slam dunk contest, free throw contest, and a 30-point shootout. 8am-4pm. W Mission Bay. (619) 283-5808 x-313 / www.holidaybowl.com
  
Philippine Faire     May 19
In honor of the Philippine Independence Day. Jazz, folk, and pop music; plus dance performances, a variety of food, and cultural merchandise. Also a parade. 9:45am-6pm. Robert Eggar Sr. South Bay Rec. Center: 1885 Coronado Ave. (619) 855-2132 / www.copao-sandiego.org 

Tierrasanta Patriot’s Day Dinner & Fireworks     May 19
Celebrate Armed Forces Day with dinner and music. There are raffles, dancing, a beer & wine garden, an amusing game area for children, and an evening fireworks show. Also a parade. 4-9pm. Tierrasanta Rec. Center: 11220 Clairemont Mesa Blvd. (858) 268-0044
 
San Diego Healing Arts Festival     May 19
This health fair promotes healthy living alternatives through music, lecture, natural products, herbal remedies, nutrition, and presentations. The Workshop Area offers various meditative arts. 7:30-10pm. Mansfield & School Drive. (619) 546-4806 / www.althealnet.org  

North Park Festival of the Arts     May 20
Six stages of on-going music and performance entertainment entwined with fine art and handmade crafts. International and local food are offered as well as a beer garden and a Craft Beer Block. 10am-6pm. (619) 294-2501 / www.northparkfestivalofarts.com
 
Navy’s Original Bay Bridge Run/Walk     May 20
The route begins in the Gaslamp Quarter in downtown San Diego and proceeds across the Coronado Bay Bridge and onward to Coronado Island for a celebration at Tidelands Park. 7am-12pm. (619) 556-9413 / www.mwrtoday.com
 
San Diego Sicilian Festival     May 20
You’re welcome to attand a spicy celebration of Sicilian and Italian American heritage in Little Italy. This popular event presents a mixture of ethnic foods, beer, wine, and music; plus unique art and craft items. 10am-6pm. (619) 733-0483 / www.sicilianfestival.org
 
 
Festa of the Holy Spirit Bazaar     May 25-27
Hosted by the Portuguese community as a Catholic celebration of Pentecost. The bazaar offers traditional Portuguese music, dancing, beer & wine, food, bakery and merchandise. 5-11pm. United Portuguese Hall: 2818 Avenida de Portugal. (619) 957-1866 / www.upses.com 

Ethnic Food Fair    May 27
Come to Balboa Park to relax and enjoy a picnic lunch. Follow the sound of music and the aroma of scrumptious foods to the little cottages that represent different countries of the Pacific. Then picnic with a feast of food while being entertained. 10am-5pm. (619) 729-8234
 
Law Enforcement Torch Run     May 29-30
Over 200 law enforcement personnel will run with a flame-lit torch from Chula Vista to Camp Pendleton. They’ll pass the torch from one to another in a relay format. The event is a fundraiser for the Special Olympics in Southern California. 7am-4pm. (619) 283-6100 / www.sosc.org

This information is deemed reliable, but not guaranteed.

4 small zucchini

1 cup prepared pasta sauce, or creamy low-fat salad dressing

Run a vegetable peeler down the length of zucchini, creating long strips ("noodles"). Steam or microwave for 2 minutes; toss with pasta sauce or salad dressing.

Per serving =  39 calories; 1 g fat ( 0 g sat , 0 g mono );0 mg cholesterol; 7 g carbohydrates; 0 g added sugars; 2 g protein; 2 g fiber; 62 mg sodium; 309 mg potassium.

Carbohydrate Servings = 1/2
 
Exchanges = 1 1/2 vegetable
 

Calif. Pending Home Sales Index: January 2012: 102.4, an increase from the revised 93.1 recorded in January 2011
 
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent

Source: C.A.R.

Mortgage rates: Week ending 3/8/2012 30-yr. fixed: 3.88% fees/points: 0.8% 15-yr. fixed: 3.13 fees/points: 0.8% 1-yr. adjustable: 2.73% Fees/points: 0.6%

Source: Freddie Mac

Homeowners can call this number to get information about assistance with mortgages: (888) 954-5337.

SOURCE: C.A.R.

Over the next two decades, the aging baby boomer generation will swell the nation’s senior population by 30 million. That demographic shift will likely help increase the supply of housing, since people over age 65 typically release much more housing than they absorb.

The echo boom generation includes nearly 65 million people born between 1981 and 1995. NAR’s analysis illustrates the potential impact of economic and housing policy on this generation’s demand for housing as they come of age.

“Housing, jobs and the economy are inextricably connected,” said Yun. “A strong recovery with favorable housing market conditions would encourage substantial growth in echo boomer households, which would help absorb the current vacant inventory and stabilize conditions for residential construction. Under a reasonable ‘middle’ recovery scenario, approximately 12 million new households will be formed over the next decade, requiring construction of up to 15 million new housing units.”

NAR President Moe Veissi noted that current market trends favor would-be homeowners of all ages. “As the supply of rental housing continues to fall, rents are increasing,” said Veissi, broker-owner of Veissi & Associates Inc., in Miami. “At the same time, affordability for homeowners is at a record high. For buyers who qualify and are ready to assume the responsibilities of owning a home, opportunity is knocking.”

SOURCE: C.A.R.

The $25 billion settlement filed in court concluded negotiations between state and federal prosecutors that lasted more than one year. It is still pending court approval.

Investigators sifted through nearly 400 defaulted Federal Housing Administration loan files and interviewed employees at the five largest servicers Bank of America, Wells Fargo, JPMorgan Chase, Citigroup, and Ally Financial.

In every case, employees and in-house notaries said they signed sometimes hundreds of affidavits per day and were pushed by their supervisors and executives to process more.

Investigators concluded the servicing executives implemented the policies many of those interviewed described as "industry wide" practices. The report shows a lack of oversight at every firm, and it may have something to do with the executive backgrounds.

The report covered only FHA loans, which account for nearly one-third of the market. Still, the fund is in trouble, slipping to the brink of insolvency because of still climbing default levels.

Settlements attached to the $25 billion agreement and increased insurance premiums will keep the FHA fund from needing a bailout, according to government officials.

SOURCE: C.A.R.