Several readers have suggested that the CA Homeowners Bill of Rights has been the cause of the slowing foreclsoure activity - and now Barclays agrees. From dsnews.com: The California Homeowner Bill of Rights (HBR) is the main driving force behind the recent slowdown...
Ken compared some of today's tactics to those used at the peak: They're back after barely a decade: escalation clauses in real estate contracts, "naked" contingency-free offers and low-ball-priced listings designed to pull in dozens of bidders and turn routine sales...
JtR: Pocket listings are mostly mythical around here, because sellers hear that the market is hot and want to test it with open market exposure. A good article on the subject is here:...
This has a separate guest apartment that I missed but you get a glimpse of it in the beginning at the 23-second mark:
An agent had a new listing scheduled for the typical open house in RP this weekend, but abruptly cancelled it, and withdrew the listing. These were her confidential remarks - apparently the sellers were overrun: OPEN HOUSE CANCELLED! Multiple Offers Received over...
More bubble talk in this article from the latimes.com - an excerpt: More investors are buying homes to quickly sell again at a profit. "Everybody I know is trying to do flips right now. It's like the day trading of the 1990s," Nordine said. "We went straight from...
One of the reasons that the $1,000,000+ market feels bloated (NSDCC = 634 actives today, 111 sold in last 30 days) is that any property worth $800,000+ gets puffed over $1M by the seller and agent, just in case. If you are buying, make sure you know the difference:
For the daredevil sellers who recognize that this is an ideal time to sell, yet want to wait and see if the market will goose itself higher, what are the indicators to watch? 1. We've been tracking the NSDCC active inventory this year, and it hasn't been growing much...
Thanks to Albert Pujols for sending this in: A former Fannie Mae sales associate who allegedly promised to provide listings to a real estate broker from the mortgage giant's REO inventory in exchange for kickbacks has been indicted on three counts of wire fraud....
From my favorite reporter! The perception of affordability, combined with the fact that home prices compared with rental rates are at levels last seen in the early 2000s, is making it tempting for people to think now’s a good time to buy a home. “We are currently in a...
