While I mostly deal with commercial real estate, I like to know what is going on in the housing market as well. Today's news had two interesting articles that I enjoyed reading.

First, Reuters has an interesting article about the residential real estate market in Stockton, CA. Stockton is about an hour away from beautiful Walnut Creek, CA. As you can read in the article Stockton has been devastated by the bursting of the real estate bubble. The article reports that some agents in Stockton are almost telling home owners not to sell because the market is so poor.

Second, the L.A. Times blog is reporting that developer Michael Crews Development is was offering a buy one get one free special on homes in San Diego County. According to the literature the promo ended May 31, 2008. Of course the L.A. Times reported it on June 1, 2008. (HT: Drudge Report)

Confused about your home's value? Greg Swan of Bloodhound Realty in Phoenix, Arizona posits that the price of your home is worth only the value of the most recent lender-owned property plus the costs of that property's repairs and a small premium.