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Articles of Interest -- 07/12/07

By
Real Estate Agent with Security Pacific Real Estate


 

The top news today highlights the rapidly growing rate of foreclosures across the country-up nearly 87%.  In the Bay Area, the number of foreclosures tripled from a year ago, and that subprime lending is the primary culprit.  Coupled with that news is a report that the subprime lending market could possibly have a negative affect beyond the housing market.

Also, Zillow is expanding its online listing services to include neighborhood information.

Market Watch

Nationally, 164,644 foreclosure notices were filed in June, up 87 percent from June of last year, said RealtyTrac.com, an online marketplace for foreclosure properties. In the Bay Area, the number of foreclosure notices was 5,018, almost triple the 1,780 in June 2006.
Foreclosure activity rises dramatically
Bay Area defaults, auctions, repossessions nearly triple; nationwide notices are up 87%
San Francisco Chronicle
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/07/12/BUGP3QUSH41.DTL&tsp=1%22 <http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/07/12/BUGP3QUSH41.DTL&amp;tsp=1%22>
 
Fresh troubles in the subprime segment of the US housing market have reignited fears of contagion that could affect the broad financial sector and possibly the broader economy, analysts say.
Subprime housing woes rekindle fears for US economy
Yahoo! News
http://news.yahoo.com/s/afp/20070711/bs_afp/useconomyproperty
 
Zillow, a site for home buyers, sellers, and lookie-loos, is getting a broader focus today: on neighborhoods, not just houses. As such, it could become a resource for people neither selling or buying, but rather just living.
Zillow Adds Community Page
Webware.com
http://www.webware.com/8300-1_109-2-0.html?keyword=Real+Estate 



 

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