real estate bubble: Majority of Homes Sold In Riverside County California Were Forclosures - 04/18/08 11:55 AM
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 San Diego County real estate blog … (0 comments)

real estate bubble: San Diego Median Home Price Falls 19% - 04/16/08 02:49 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 March. Last month's 18.1 percent increase from February was the lowest in DataQuick's statistics, which go back to 1988.  *To view the full post, please visit the San Diego real estate market blog
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real estate bubble: If Your Home Value Drops ... Just Sue Your Agent! - 02/28/08 06:29 AM
It was reported on January 22, 2008, that a home buyer is suing her agent because she believes she overpaid for her home.  The buyer believes her agent did not disclose that similar homes in the neighborhood were selling for less than what she paid.  At first blush, such a case seems frivolous to many because the ultimate decision to buy and the price to offer is ultimately the buyer’s decision.  Plus, no two homes are exactly alike.  Even if the homes are close to each other, they may vary in decorating upgrades and maintenance.  One home may face a green … (2 comments)

real estate bubble: San Diego Home Values Take Huge Drop - 12/19/07 02:09 AM
 According to DataQuick Information Systems of La Jolla California, the median price of a home in the county for November fell 10% vs. November 2006. This marks the largest one-year drop recorded by DataQuick since it began keeping local records in 1988.
* To read the full post please visit the San Diego real estate blog. The exact page link is: http://www.brokerforyou.com/brokerforyou To subscribe to the San Diego real estate blog for free, our RSS feed is: http://www.brokerforyou.com/brokerforyou/?feed=rss2                                                 … (2 comments)

real estate bubble: Freddie Mac ... Home Values Decline … Largest in 25 Years - 12/19/07 01:59 AM
Freddie Mac announced recently that its Conventional Mortgage Home Price Index (CMHPI) Classic Series registered a 1.3 percent drop in U.S. home values during the third quarter of 2007 on an annualized basis, down from a revised second quarter 2007 annualized rate of 0.5 percent and the largest decline in 25 years. 
* To read the full post please visit the San Diego real estate blog. The exact page link is: http://www.brokerforyou.com/brokerforyou To subscribe to the San Diego real estate blog for free, our RSS feed is: http://www.brokerforyou.com/brokerforyou/?feed=rss2                           … (0 comments)

real estate bubble: Mortgage Five-Year ARM Freeze Announced - 12/06/07 02:56 PM
President Bush announced a plan today that will help homeowners struggling with adjustable-rate mortgages hold onto their homes. Interest rates on 1.5 million mortgages are expected to "reset" upward over the next year. "We have got to do something drastic, and we have to do something quickly," said Rep. Elton Gallegly (R-CA). "I don't like the government getting involved in the private sector, but we have potential problems we are already seeing come to pass." The plan, which is the product of an agreement between loan servicers and investors holding mortgage debt, will freeze the introductory "teaser" rate for certain borrowers … (0 comments)

real estate bubble: 3 Things You Should Know if Facing Foreclose - 11/18/07 04:32 PM
This is one of those possible life changing decisions that should only be made after consolations with both your legal and tax advisors.
#1. Talk to your lender. Depending on your lender, you may be able to restructure your mortgage if you’re late in making monthly payments. The delinquent mortgage payments may be added to the mortgage balance, or the homeowner could be given additional time to make catch-up payments. * To read the full post please visit the San Diego real estate blog. The exact page link is:  http://www.brokerforyou.com/brokerforyou  To subscribe to the San Diego real estate blog for … (0 comments)

real estate bubble: California’s third-quarter foreclosure almost quadruples - What, still say no housing bubble? - 11/01/07 02:21 PM
RealtyTrac®, the leading online marketplace for foreclosure properties, today released its Q3 2007 U.S. Foreclosure Market Report. California’s third-quarter foreclosure rate was up 36 percent from the previous quarter and nearly quadruple the number reported in the third quarter of 2006! California’s third-quarter foreclosure rate of one foreclosure filing for every 88 households ranked second highest among the states.
Some prior posts on home foreclosures: Home Mortgage Rates Actually HIGHER After Fed Rate Cut!, San Diego County Foreclosures Jump 247%, Economists Says . . . We’re not out of the woods yet!, Worst Conditions Ever Seen by the Modern Mortgage Industry, Employment … (3 comments)

real estate bubble: #1 Cause of San Diego Housing Value Decline - No, it’s NOT subprime loans! - 10/18/07 02:40 AM
Sure, a small percentage of home buyers, with poor credit, were taken advantage of by unscrupulous loan representatives between 2000 and 2005.  However, in the middle to upper end San Diego neighborhoods in which I work, this is not the problem.  
The simple truth is that the problem was GREED! 
Yes, greed and pure speculation were king in the San Diego real estate market heyday! One hundred percent loan purchases were ‘main-stream,’ while 110% and 120% refinancing were easy to obtain. The word was out:“Have good credit but do not make enough to purchase the larger property you desire?  No problem!   Just … (5 comments)

real estate bubble: San Diego Real Estate — It’s Always Tough To Go Against The Majority Opinion - 10/15/07 06:37 AM
In the San Diego California real estate market in 2005 the real estate community and prevaling majority opinion was that all the real estate bubble talk was just that ....talk, based on on unfounded opinion. I guess I could have joined the crowd, but I had seen too many signs of trouble in our local market to join the joyful chorus.
Below is an editorial I wrote for my print newsletter in March 2005. Many, especially other real estate professionals, thought I was way out of 'reality' by my comments and having sold all my San Diego investment real estate in 2003. … (0 comments)

real estate bubble: The Fed rate is a great move, but, at least as far as housing goes in San Diego, will be of little help. - 10/13/07 10:03 AM
The San Diego homeowner who purchased in 2005 even with a FIXED rate loan for 90% of the purchase price, will today find that the mortgage amount is in many cases thousands of dollars greater than the current resale value. *Please click San Diego real estate blog to view the full post. … (0 comments)

 
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