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Local Real Estate NewsResearch firm: SoCal home prices fall 33 percentSouthern California home prices tumbled 33 percent in October from a year ago, as buyers snapped up steep discounts on foreclosed properties, which accounted for more than half of all sales in the region, a research firm said Tuesday. Democrats support FDIC mortgage plan Democratic leaders in Congress today threw their weight behind a proposal to use $24 billion in government funds to help struggling borrowers, a move opposed by the Bush administration. Homebuilder sentiment index plunges to record low The National Association of Home Builders says its housing market index plunged to another record low this month as the U.S. financial crisis, rising unemployment and swelling uncertainty over the economy shook builders' confidence about the prospect for a housing recovery. SoCal median home prices fall 33 percent, sales soar 67 percent in October A real estate tracking firm says the median home price in Southern California fell 33 percent in October from a year ago while the number of homes sold soared. Median home prices fall in 120 U.S. metro areas in Q3 The National Association of Realtors says home prices fell in four out of five U.S. cities in the third quarter, the latest sign of how the U.S. housing market's decline is spreading throughout the country. Downtown San Jose high-rises boost new-condo sales in Silicon Valley September was another bleak month for California new-home sales, but one segment of the Santa Clara County market bucked the trend: New condominium sales were up nearly 150 percent from a year earlier. Many of the units sold were in downtown San Jose, including at some expensive high-rise developments. Who sold what, published Nov. 15 ALMADEN 1114 Allston Way, $953,000, 10-28-08, 2,221 SF, 4 BR, Mccaskey Trust to D. Wong; 1983:$94,5006625 Broadacres Drive, $1,770,000, 10-21-08, 4,127 SF, 5 BR, Baugh Trust to J. Freddie Mac seeks government aid after posting $25.3B loss Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss today. FDIC details plan to expand foreclosure prevention WASHINGTON — Officials at the Federal Deposit Insurance Corp. on Thursday detailed a plan to prevent 1.5 million foreclosures in the next year by offering financial incentives to companies that agree to reduce monthly payments on mortgage loans. Lenders criticize government mortgage aid program Hundreds of lenders told federal housing officials today that a $300 billion mortgage aid program requires too many losses for consumers and lenders to realistically help 400,000 Americans avoid foreclosure.  Global Crisis Douses Hawaii Tourism High fuel prices, the bankruptcy filings of Aloha and ATA, and the nationwide slump in consumer confidence have slammed Hawaii's tourism industry. CMBS Market Begins to Show Fissures The market for debt used to finance commercial real estate tumbled on worries about rising defaults for commercial mortgage-backed securities. Future of Fannie, Freddie Debated Debate is heating up on the future of Fannie Mae and Freddie Mac as they struggle with heavy losses and investors continue to shy away from their debt. Companies in Europe Batten Down Hatches Many European real-estate companies are not only disclosing weaker results but also announcing new business strategies designed to ride out the recession. Feldman's End Game Distressed-mall buyer Feldman may have found a way to ease its own distress without declaring bankruptcy. But few, if any, investors will come out whole. My BlogWow. Gas below 3 bucks now…Wow prices dropping everywhere…even in gas! If you follow a gasbuddy.com…you’ll see this: Wow…Reason To Buy Now! Interest rates on jumbos…did you know about the changes to the High Balance Conforming Limit???: Attached are copies of the slides from Wells Fargo. Here is some information buyers should be aware of, and great details for sellers (they need to be aware of how this impacts the potential buyers considering to buy their [...] westmont basketball website and schedule  the new schedule is up. find it at here or at westmontbasketball.com to keep in touch with all the other stuff a going on.Home Coming  Well, James didn’t use the camera, so we got this pic of him and his date...Rachel. Awe, they still look good blurry phone cam and all.The Pulse - Trends in Real Estate The simply Laws of supply and demand seem to always bump against a lot of variables. Among them of course is human psychology. Let’s look at twhats going and has gone on in Campbell residential real estate for the last 5 years (click on thumbnail to scale, click again to scale back). The number of houses [...] |
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