An unusual September jump in home sales, together with the biggest monthly drop yet in prices, could be early signs that San Diego County housing is approaching the bottom of a three-year-old downturn, industry experts and observers said yesterday.
MDA DataQuick reported that the median price for all homes dropped $22,000 from August to stand at [...]
Jim Allotta is in a tough industry. His business, Allotta Appraisal Services, has faced some challenges in the past year including a declining housing market and predatory lenders who try to dictate appraisers’ work.
The previously booming housing market brought appraisers who didn’t know much about the process and told lenders what they wanted to hear.
The [...]
Home sales doubled in September as bargain hunters grabbed up Sonoma County homes, putting a dent for the first time in the region’s lower-priced properties, according to a new report.
Two out of three homes sold in September were foreclosure properties unloaded by banks or short-sales by homeowners bailing out on mortgages they could no longer [...]
Integrated Asset Services, LLC (IAS, www.iasreo.com), a leader in default management and residential collateral valuation, today released its IAS360 House Price Index for August 2008. The monthly report, which includes the most current and granular data available in the industry, showed a 0.2 % decline in house prices on a national level in August, and [...]
San Francisco may be 3,000 miles from Wall Street, but the crisis that has engulfed the country’s biggest financial institutions is putting even more pressure on the Bay Area’s real estate market, making it increasingly difficult for home buyers to get credit.
Cheap credit played a dramatic role in fueling the housing boom of the late [...]
Property developers and financiers – including international companies that have invested heavily in everything from trophy office buildings to Brooklyn residential renovations – are being whiplashed by the spreading credit crisis, which has brought New York’s real estate market to a screeching halt.
Some are rushing to draw down credit lines before they are withdrawn, while [...]
Phillip Walker put his Jensen Beach home in Florida on the market 13 months ago.
He finally got an offer this week, and he jumped at it. But he’s not jumping for joy… That’s because he’ll have to settle for $95,000 less than what he originally priced the house.
“About every other week a new [...]
The Bush administration’s pledge to rescue ailing housing finance giants Fannie Mae and Freddie Mac raises anew questions about just when the nation’s dismal housing market will hit bottom.
Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson have suggested over the past year that an end is in sight. But with each prediction, things [...]
As the dismal U.S. housing market slides further downhill–home prices in July posted a 16.3% annual drop–some sellers are unloading their homes to bargain-hunters.
But in cities like Seattle, Jacksonville, Fla., and St. Louis–the hardest major cities in which to sell a home–even sellers who have substantially lowered their prices aren’t finding it easy to move [...]
Governor Charlie Crist today praised more than $1 billion in federal support for Florida’s housing market, made possible by the federal Housing and Economic Recovery Act of 2008 passed by Congress this summer. He also announced that Standard &Poor’s has affirmed a “AAA” rating with a stable outlook to Florida’s general obligation bonds.
“I commend Florida’s [...]