The Daily News reports from California. "Home sales and prices in the Santa Clarita Valley continued to plunge. Sales of single-family homes fell by 22.1 percent, which amounts to the lowest number of November resales since 1999, according to the monthly report issued Friday by the Southland Regional Association of Realtors."

"The median price was $580,000 down $15,000 from November 2005. Condominium sales, and prices, also were on the decline. Eighty-eight condos sold in the region with a median price of $365,000. That compares with the 100 that sold a year ago with a median of $385,000."

"Sales peaked in March 2005 when 662 houses sold. The highest median price, $643,000, was recorded in April of this year. The best month for condo sales was in January when the median hit $397,000."

"'I'm happy with the market,' said Peggy Mueller, president of the association's Santa Clarita Valley division. 'The people who are buying really need to buy and those who are selling really need to sell. It's the most normal market we've had in a long time.'"

The Signal. "The market in Santa Clarita is gradually adapting to other regions in Southern California, the Southland Association of Realtors reported. The 1,560 single-family resale homes listed for sale is 77.5 percent more than the same period last year."

"Active listings for condominiums doubled to 624 since last year. Jack Kyser, chief economist for the Los Angeles County Economic Development Corp., said condominium developers have canceled their developments, and have been looking to rent condominiums rather than sell them."

"However, he said that for resale, 'It's definitely a buyer's market. The speculators have left the market, which is good news,' he said."

The Merced Sun Star. "In 2005 the city issued a record 1,382 permits for single family houses. This year the market is saturated with new inventory and builders slowing down. The slowdown's effects can be felt at building-related businesses across the county."

"Chuck Falkenstein, general manager of Central Valley Concrete, said new houses made up about 80 percent of his business last year. Today that part of his business has shrunk to less than 10 percent, he said."

"Anthony Fragassi, manager of 84 Lumber building supply on Highway 59, described business as 'nonexistent' compared with last year. Fragassi said his employees made 20 to 30 deliveries a day in 2005. Now it's down to half or less, he said."

"In the summer of 2005, Centex was closing escrow on eight to 10 houses a month, Rodriques said. A year later, Carly Rodriques started hearing about layoffs in Centex's marketing and accounting departments. The employees in Rodriques' construction division figured their jobs were safe, she said."

"'(We) thought we were out here actually doing the work to make the rest of the company run,' Rodriques said. 'I don't think the construction people had any concept that it would happen to them.' Her job disappeared, the casualty of a 'massive work force reduction' at Centex, a letter from corporate headquarters told her."

"The market is still adjusting. Builders are using price cuts or incentive packages up to $100,000 to move the new inventory clogging the market. 'This is my fourth cycle like this so I knew it was coming, but I didn't know it was going to be this bad,' said Bob Rucker, owner of Rucker Construction. 'This market is totally overbuilt right now. The national guys came in and swamped us with inventory.'"

"Summerton Homes's Don Gray said builders are fighting a battle against the public perception that now is a bad time to buy. 'We think that's a misconception,' Gray said. 'Prices are down about as low as they can go, interest rates are very strong. We think houses should be flying off inventory.'"

The Union Tribune. "Frank Christopher arrived at the Manchester Grand Hyatt yesterday with his wife, intending to buy a million-dollar condo-hotel unit from Donald Trump. The semiretired custom-home developer from La Quinta and Jackson, Wyo., left with two, costing about $2 million and totaling 3,800 square feet. 'One's for speculation,' said Christopher."

"An estimated $120 million in sales was toted up at Trump's latest project, Trump Ocean Resort Baja California, a three-tower, 570-unit development north of Rosarito. Some buyers acted through on-site agents who, with cell phones in hand, signed sales contracts and handed over cashier's checks for 10 percent down."

"Marc Penso, an Irvine real estate attorney, was blunter than most in expressing his motivation. 'Everyone here is buying for speculation; there's no one moving here on a permanent basis,' Penso said, adding that he owns similar units in Aspen, Colo., and Mammoth and is buying one at The Residences coastal condo-hotel in Tijuana."

"Penso is betting that Baja's relatively low home prices, at least compared to Southern California, will continue to fuel the boom and give him a tidy profit. 'Everyone in this room is doing this as an investment,' he said. 'There's no one here who's going to own these units in five years.'"

"The Donald did not show for the one-day sales event at a plush San Diego hotel, but his persona loomed large in the ballroom, where would-be buyers nibbled on biscotti and sipped espresso as they waited to make their bids and celebrated over sirloin tip and fish tacos after clinching the deal."

"'Trump is my idol when it comes to real-estate investments,' said Med Sami, of Irvine, after forking over $431,000 for a one-bedroom."

"Trump's imprimatur was just what many needed to take the plunge, said Jason Grosfeld, a co-founder of Irongate. 'When The Donald is willing to put his name on the site, that means a lot,' he said."

"Buyers in the predominantly Southern Californian crowd said Trump's involvement eased concerns about owning land in a foreign country. They were undeterred by spiraling violence in the border city of Tijuana, and they paid no heed to protesters outside the hotel who said Trump's property was on one of the most polluted beaches in North America, a charge the developer emphatically denied."

"'I'm sure he wouldn't put his name on it if he hadn't investigated northern Baja meticulously,' said Tom Pfleider of Beaumont, who dropped $550,000 for a one-bedroom on the 11th floor."