Today's L.A. Times is reporting that the St. Regis Monarch Beach in Dana Point is close to being foreclosed - their third mortgage of $70 million is in default: http://www.latimes.com/business/la-fi-numonarch10-2009jun10,0,7571143.story An excerpt: Business is so bad...
People wonder about today's homebuyers - how are they affording these prices? Most are using a larger down payment. A check of the tax rolls showed 91 sales of Carlsbad SFRs in May. Down payments: All-cash = 9 50-99% = 8 30-49% = 22 21-29% = 11 20% = 21 0-19% = 20...
A previously-successful developer takes on an ambitious beach project, pours millions of his own dough into it, hires a sales team but doesn't offer the homes on the MLS, and then runs into untimely delays, cost overruns, and a bad economy. Don't you lower the price...
La Jolla is the crown jewel of San Diego's Gold Coast - and where the real estate market has always been among the priciest (and craziest) in the county. Let's tour this 1,841 sf house in Bird Rock, built in 1960 - it's listed on the range $1,675,000 to $1,775,000,...
This is my 25th year in the business. I received my real estate license at the end of 1984, and moved to San Diego to start selling real estate. Interest rates had just come down to 13% - I thought I had better get in while the getting was good! Recently I was on...
The folks over at Crescent Del Sol Estates invited us back for a tour: The home featured in this youtube tour is offered at $2,900,000 - the other list prices range from $2,800,000 to $3,100,000. Speaking of...
HT to shadash for sending this in, from WaPo: The rush of capital into the banking industry over the past month is allowing firms to postpone the painful process of selling devalued mortgages and other troubled assets, a step many financial experts still consider...
Back in 2000-2001, there were some of us long-time real estate people that thought we were due for a downturn. Historically the market ran its full cycle every ten years, and 1990 was the previous peak. But thanks mostly to the 1997 rule that allowed homeowners to be...
We've seen it happening over the last few months, and Mozart noted that the third-tier list prices keep rising. According to housingtracker.net, the third tier median list price today in San Diego is $875,000, which is 13% higher than TWO MONTHS AGO, and 33% higher...
From the Associated Press: WASHINGTON - Federal regulators on Thursday charged Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp., and two other company executives with civil fraud. The Securities and Exchange Commission’s civil...
