Just based on price alone, this new REO listing on Newcastle in Cardiff will get a lot of interest - I had to wait for two others groups to clear out before shooting this youtube tour: Some of 92007 extends east of the I-5, but to me that was always suburban Baja...
Kelly is on the beat: http://www.voiceofsandiego.org/articles/2009/07/01/survival/199obama070109.txt An excerpt: The plan announced in February was initially offered to homeowners whose mortgages were worth 105 percent of their homes' current value. Now the option to...
I could see this in Palmdale, or maybe Victorville.......but could it happen here? An update on Flint, MI: http://www.washingtonpost.com/wp-dyn/content/article/2009/06/20/AR2009062000956.html An excerpt: Then he looks at what's left of the neighborhood - blocks lined...
The Wall Street Journal ran the story yesterday about the San Diego MLS sending in the wrong sales data to C.A.R. for the last year. I don't know what's funnier; that Sandicor never checks their own work, or that apparently no one in the western world cares enough...
The market has been hot lately because the inventory is low. There are only 5,880 detached, and 3,043 attached active listings in the MLS - about 38% of what it was in September 2007. Waiting buyers are frustrated and should be jumping at new product - how are the...
The foreclosure process for many houses is dragging down to a slow crawl. Lenders are buried, short sales could be in the works, and the free-loading homeowners have no incentive to cooperate. But once the lenders finally complete the trustee sale, they're not...
The foreclosure rolls are bulging now....all areas, all prices.....
This plots the same SD affordability ratio (in red) and the Freddie Mac average 30-year mortgage rate for June (in blue) on the same graph. I don't know if it means anything, other than to recognize that this is the first time since 1980 that BOTH factors are near...
The Milken Institute has been parading around their idea of debt relief for over-encumbered homeowners, in an attempt to keep them from walking away. From the L.A. Times: http://www.latimes.com/business/la-fi-petruno27-2009jun27,0,2308676.column Say an owner's...
There has been discussion about San Diego home prices reverting back to their 'normal' trend, but what is normal? 3x income? 4x income? 5x income? The few times I've spoken up about the income question, I've said "Who cares about the median income for the county,...
