ARCHIVED BLOG POSTS

2008 

U.S. home prices dropped at the sharpest rate in two decades during the first quarter, the Standard & Poor's/Case-Shiller national index showed Tuesday, a somber indication that the housing slump continues to deepen. Prices tumbled more than 14 percent during the quarter and are at levels not see...
05/28/2008
George Soros the out-spoken billionaire investor, just came out with a very gloomy assessment of the US and world economies. In an interview with a BBC news editor, Mr. Soros said the "financial bubble" of the last 25 years could be drawing to an end and the post World War II "super-boom" era cou...
05/20/2008
Lenders added 22,324 properties to their real estate owned or “REO” inventory in April. Last month DataQuick reported that 38.4% of all home sales in California were from this REO inventory, equaling approximately9,432 properties. Based on those levels, lenders are increasing REO inventories 1.36...
05/16/2008
From a recent report by ForeclosureRadar it was show that: In April, it took California lenders an average of 140 days from Notice of Default to the property being sold at auction. Average discounts at auction were 25%, but nearly half of all properties taken to auction offered discounts of 30% o...
05/16/2008
April foreclosure numbers were up in all categories. Average daily auction sales exceeded 1,000 properties a day for the first time in California’s history as reported by ForeclosureRadar. The report also showed:: * Notices of Default – the filings for the first step in California’s foreclosure p...
05/15/2008
Last week, Ben Bernanke, chairman of the Federal Reserve, said "Realistic public- and private-sector policies must take into account the fact that traditional foreclosure avoidance strategies may not always work well in the current environment." The Chairman's comments came as foreclosure filings...
05/14/2008
A stock market maxium is to buy when everyone else is selling. So, if you are among these people who would love to won their own home? You may wish to consider a San Diego bank owned foreclosured homes as an alternative to newly-constructed houses. You will be able to save much and enjoy instant ...
05/14/2008
CNNMoney reports that a number of cities that have held up as good housing markets in the midst of a national crisis have recently succumbed to the general trend. Lately Charlotte, NC, Seattle, Portland, Ore., and Salt Lake City have all registered declines even though they had posted pricing gai...
05/13/2008
“We are experiencing home price depreciation almost like never before, with the exception of the Great Depression.” -Angelo R. Mozilo, Countrywide Financial Corp. Chief Executive For current real estate market trends, be sure to visit the San Diego County real estate blog. To search the entire Sa...
05/12/2008
Fannie Mae reported a net loss of $2.2 billion, or $2.57 per share, for the first three months of 2008, vs. a profit of $961 million, or 85% per share, a year ago, on a 38.2% rise in revenue, to $3.78 billion. Fannie also recorded a $1.1 billion charge in the first quarter on mortgage-related sec...
05/12/2008
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