San Diego California real estate blog
San Diego California real estate information & opinion.
ARCHIVED BLOG POSTS
2008
It is said that this just-passed bill will help over 400,000 homeowners. With the bill itself being over 600 pages, this four page summary will explain the key provisions. This legislation strengthens and modernizes the regulation of the housing government-sponsored enterprises – Fannie Mae and F...
07/31/2008
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This federal housing bill is a significant move in the right direction for California homeowners. It will aid in stabilizing our economy and help stem foreclosures, while also providing support to first-time homeowners. The new loan limits for Fannie Mae and Freddie Mac are the greater of either ...
07/30/2008
The first wave of foreclosures occurred due to the re-setting of some "sub-prime" loans. These loans were predominantly the 80/20 loans that were used to assist buyers to obtain property with no down payment. Later in the cycle of the origination of these loans, the documentation requirements wer...
07/29/2008
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The Federal Reserve approved new rules for home mortgage loans to protect consumers from questionable lending practices. Most of the new rules apply to subprime owner occupied home loans and go into effect 10-1-09. Two of the best of these new loans are: The lender must verify the borrower’s inco...
07/29/2008
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Just released May Standard & Poor’s/Case-Shiller 10-city index plunged 16.9 percent, its biggest decline in its 21-year history. Las Vegas, Miami, Phoenix, Los Angeles, San Diego, San Francisco, Seattle, Wash., Portland, Ore., and Washington, D.C. — posted record lows in May.*To view the full pos...
07/29/2008
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Worried customers lined up outside IndyMac to withdraw their money this morning. IndyMac was seized by federal investigators on Friday. The Federal Deposit Insurance Corp automatically insures customers with accounts worth $100,000 or less. IndyMac is the fifth U.S. banking company to fail this y...
07/14/2008
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"The U.S. Treasury Department's plan to shore up Fannie Mae and Freddie Mac is an “unmitigated disaster'' and the largest U.S. mortgage lenders are “basically insolvent,'' according to investor Jim Rogers. Jim Rodgers, is the chairman of Rogers Holdings, in April 2006 he correctly predicted oil w...
07/14/2008
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The Scarborough Research study measured the concentration of technology users with a wide range of high-tech habits, and found San Diego to be #4 on the list for most tech-savvy cities. As reported in early May 2008, about ten percent of San Diegans made the cut, ranking above the national averag...
07/14/2008
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Sprinklers, hoses, pools – there are many ways to use water outdoors in the summertime. There are also countless and easy ways to conserve it. Following are a few tips for developing good H2O habits: Water your lawn only when necessary. Walk across the lawn; if you leave footprints it is time to ...
07/14/2008
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The Chrysler building, an Art Deco icon of the New York City skyline, has sold to a fund controlled by Abu Dhabi for $800m. The building, completed in 1930 for the automotive company Chrysler, was briefly the tallest building in the world. The Abu Dhabi Investment Council, a sovereign wealth fund...
07/10/2008
Rainmaker
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