In yesterday's video you heard about the agent who said he had written 70 offers on behalf of a well-qualified buyer, many at $10,000 to $50,000 above list price, and he still hadn't sold her a house. To see how frustrated I should be, I checked my Y-T-D stats: 131...
All that matters to most buyers is the flow of new REO listings - has the flood started? San Diego County, Attached and Detached REOs: Week Of # REO New Listings # REOs Marked PEND # REOs Closed Closed $/sf 6/29-7/4 206 189 224 $161/sf 7/5-11 229 236 230 $166/sf...
1,400sf of heaven, built in 1960 and last sold in October 2005 for $430,000, and yes of course financed 100%, plus a cash-out refinance in 2006, resulting in negative skin in game. Sold for $148,000 in 11/99: The market can't be any hotter than it is right now, can...
Hat tip to Rick for sending this along, from Yahoo Finance: http://finance.yahoo.com/news/Risktaking-is-back-for-banks-apf-3400806176.html?x=0&.v=1 NEW YORK (AP) -- A year after the financial system nearly collapsed, the nation's biggest banks are bigger and...
While this article highlights individual stories of how some people are dealing with the downturn, the quotes in this excerpt below were most interesting - from latimes.com: http://www.latimes.com/business/la-fi-cover13-2009sep13,0,7125080,full.story Not everyone is...
From the U-T: http://www3.signonsandiego.com/stories/2009/sep/13/nations-housing-kenneth-harney/?uniontrib When homeowners negotiate a short sale with lenders, they sometimes assume there will be relatively little impact on their scores. After all, the loan was...
The Gamble House in Pasadena is one of the most significant houses ever built in America, and a quintessential example of the Arts and Crafts movement. Here are two descriptions, under their links: http://www.galinsky.com/buildings/gamble/index.htm The David B....
Alan Gin had to comment on the latest SDAR report: from sddt.com: The median price of detached resale homes in San Diego County rose for the fifth straight month in August, while sales dipped slightly. A report from the San Diego Association of Realtors (SDAR) showed...
My second REO assigment in the last two weeks, after a couple of dry months - could this be the beginning? I think it is, but the quality isn't great yet, at least of the ones they send me. This 1,245sf house on Paseo Ajanta in Rancho Penasquitos will probably need...
Downsizing baby-boomers could end up causing real estate's biggest leg-down of all. from the N.Y. Times: http://www.nytimes.com/2009/09/10/garden/10nest.html?pagewanted=1&ref=todayspaper In the quaint central Connecticut town of East Haddam, Bill and Rose-Marie...
