The Worlds Big Bucks Homes - 04/30/08 03:25 PM
You can own a cozy 103-room English country home, with a panic room, marble driveways and helipads for $138 million – a property that tops the 2007 Forbes annual list of the world’s priciest homes for sale. Updown Court in Windlesham, Surrey, has 58 acres of gardens and woodlands, five pools, … (0 comments)
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213% Jump in California Homes Facing Foreclosure - 04/30/08 03:19 PM
It was reported today that for the first quarter of 2008, California had the most properties facing foreclosure at 169,831, an increase of 213% from a year ago. California also had the second-highest foreclosure rate in the country, with one in every 78 households receiving a foreclosure-related notice. *To read the … (0 comments)
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Homes Nearing foreclosure More Than Double in 1st. Quarter - Is More Govt. Help Needed? - 04/29/08 12:25 PM
Irvine, Calif.-based RealtyTrac Inc. which monitors default notices, auction sale notices and bank repossessions reported today that nationwide the number of homes moving toward foreclosure more than doubled in the first quarter from a year ago.
The report showed a total of 649,917 homes received at least one foreclosure-related filing in … (0 comments)
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Goverment Mortgage Insurance Claims Jump - 04/26/08 12:45 PM
According to government data released thios week, Claims on Federal Housing Administration mortgage insurance rose by 61 percent last year, compared to what it was five years ago. These pay offs allowed more than six in 10 home owners who defaulted on FHA-insured loans to stay in their homes, up from … (0 comments)
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San Diego California real estate market named 9th. worst in U.S. - 04/25/08 03:37 PM
Most San Diego homeowners think they have it really bad when it comes to the current real estate market. It seems the majority of the real estate sales today here in San Diego are bank foreclosures.
It's not much comfort, but there are eight other cities that have a more challenging … (0 comments)
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The Real Cause of The Real Estate Bust - 04/23/08 03:21 PM
Think about this …the actions of home mortgage lenders are directly attributable to the policies of the Fed: when credit is cheap, why not loan money more recklessly to individuals who normally would not qualify? *To view the full post, please visit the San Diego real estate blog. Also, at our … (0 comments)
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Home Sales Fall For 7th. Month In A Row - 04/22/08 05:29 PM
Today, The National Association of Realtors said sales of existing single-family homes and condominiums dropped by 2 percent in March. This drop marked the seventh consecutive year-over-year drop in prices, although the March sales price was up slightly from a February. Three regions across the nation saw a median home price … (0 comments)
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Majority of Homes Sold In Riverside County California Were Forclosures - 04/18/08 06:55 PM
Foreclosures are driving price declines. Riverside/San Bernardino was most affected. Fifty-six percent of homes sold in Riverside County in March were foreclosures, which caused the area’s median price to drop 27 percent to $306,250. San Bernardino’s median price fell 28 percent to $265,000. *To view the full post, please visit the … (0 comments)
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San Diego Median Home Price Falls 19% - 04/16/08 09:49 AM
DataQuick Information Services of La Jolla just released a report that showed San Diego's home sales dropped again for the 7th. month in a row. The San Diego March home sales fell 34.5%.
Over the past 20 years Southland sales have risen by an average of 38 percent between February and … (0 comments)
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Bank Repossessions soar 129 percent Over Last Year - 04/16/08 02:35 AM
The real estate data firm RealtyTrac just released a report showing real estate home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago.
RealtyTrac said the foreclosure peak has yet to be reached.
The vice president of … (0 comments)
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Will the Proposed Goverment Plans Stop the Slide? - 04/16/08 02:30 AM
Former 22nd. Labor Secretary under President Clinton, Robert Reich has strong opinions on this subject. Mr. Reich is a graduate of Harvard, Oxford and Yale which add quite a lot of credibility to his views. He believes that the Fed's rescue plan will not work, because the average consumer is too … (0 comments)
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Home Values in England Drop - 04/13/08 09:48 AM
House prices have fallen in nearly half of all zipcodes in England and Wales compared with a year ago, raising fears that tens of thousands of home owners could be plunged into negative equity. Average house prices are now less than they were a year ago in a host of areas … (0 comments)
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Highest Mortgage Default Rate In A Decade - 04/12/08 07:27 PM
From the National Association of Realtors: “Homeowners with subprime are missing payments more often than any time in the last 10 years, according to a report by investment bank Friedman Billings Ramsey & Co. The default rate on subprime loans that have been packaged into bonds to be sold to investors … (0 comments)
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Federal Reserve Announces Dynamic Maps on Nonprime Mortgage - 04/10/08 09:13 AM
The Federal Reserve System on announced the availability of a set of dynamic maps and data that illustrate subprime and alt-A mortgage loan conditions across the United States.
The maps, which are maintained by the Federal Reserve Bank of New York, will display regional variation in the condition of securitized, owner-occupied … (0 comments)
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Yet Another New Low record For Home Sales - 04/10/08 02:00 AM
The National Association of Realtors' seasonally adjusted index of pending sales for existing homes fell to 84.6 from January's upwardly revised reading of 86.2. The index stood at 107.6 in February 2007. The February index was the lowest reading since the index began, signaling the housing market distress is far from … (0 comments)
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Fed Head Said We ARE in a Recession! - 04/09/08 06:58 PM
Former Federal Reserve chairman Alan Greenspan said yesterday that the U.S. economy is in recession and that it would be appropriate to tap public funds to resolve the mortgage-related crisis that has helped pull the economy under. Also today, the International Monetary Fund concluded in a new forecast that underscored the … (0 comments)
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