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News Archives
July 2007
Monday, July 23, 2007
Phoenix median home asking price
sinks
to $65K beneath Aug 2005 peak!
08/14/2005...$379,900
07/21/2007...$315,000
HousingTracker: Median Home Price & Inventory Data for Phoenix,
Arizona
It could prove to be critical week for housing, stocks
Trenton Times, NJ
Investors will also be closely reading reports on the
housing market -- the big weak area of the nation's economy, which has
caused mortgage defaults to ...
Refi merry-go-round gets help
A number of US states are setting up funds to help homeowners with
risky subprime mortgages refinance to more ...
US states to help subprime owners refinance - WSJ
Reuters
Experts predict mega bubble fallout / huge price reductions!
"Prices will fall in half. We'll go back to 1999 prices. It could be
worse. Don't be surprised by my statement. Let's just look at what
happened in the 1980s and 1990's downturns. It's easy enough to look
up at the County Recorder Office, or on the MLS, but neither the
County Recorder, nor the realtors, wants to advertise the ugly truth:
CA has 15 year housing cycles and prices fall 30 percent to 50 percent
in a downturn."
Regional Housing Experts Serve Up Shocking View of the US Housing
market
PR Web (press release), WA
HOA pitfalls snag
unsuspecting homeowners!
Westpark Lakes' Homeowner Association closes its doors and
leaves its homeowners without street lights (Texas)
"Homeowners
in the Westpark Lakes Community should now seize this opportunity to
challenge where their money went and the wisdom of even having an
association. Why did this association suddenly shut down? What have
they been doing with the money? Why have they not paid the utility
bill if they have been collecting for it? "
WESTPARK LAKES' HOMEOWNER ASSOCIATION BITES THE DUST
AHRC News Services, CA
Grim news likely from June home sales
Los Angeles Daily News, CA
Rising foreclosures bad economic signal
The Republican, MA
California sees first statewide
year-over-year median
home price decline since 1996!
"The median
price paid for a home last month was $479,000, down 1.0 percent from
the record high of $484,000 for March, April and May. That was down
0.2 percent from $480,000 for June a year ago. The year-over-year
decline in median was the first since January 1996 when the
then-median of $146,000 was down 2.0 percent from $149,000 a year
earlier."
California
June 2007 Home Sales Report
DQNews
Bay area foreclosures triple
from last year! (with 
)
"It's a sign of
the record number of foreclosures: 80 Bay Area homes will go on the
auction block Saturday at the Concord Hilton.
More than 5,000 foreclosure notices went out in June. That's three
times more than last year.
Mortgage
Crisis Puts 80 Bay Area Homes On Auction
cbs5.com
Orange County, CA median home price stays on the
decline!
"DataQuick Information Systems reports that in nearly 70
percent of Orange County ZIP codes, the median home price declined
during the first half of 2007."
The year-to-date median price – or the price at the midpoint of
all sales – was $625,000 for Orange County homes of all types, down
$4,000 from the first half of 2006."
Home prices down in most OC neighborhoods
OCRegister, CA
Dollar hits low on subprime fears, global stocks mixed
Reuters
The housing situation is unlikely to get better before yearend.
Crain's Detroit Business, MI
“To call the housing market a lost cause might be
extreme, but there’s just a huge overhang of unsold inventory that is
depressing both prices and new ...
Home-for-sale signs stack up
Salt Lake Tribune, United States
Submit lowball offer to tired sellers
"Yes, some of them may have been on the market so long because
of a deficiency, such as road noise, bad neighborhood, or if they are
in disrepair. But some have been on that long due to a transaction
falling apart, to inaccurate initial pricing, to the reluctance of the
owners to accept initial lowball offers. But after 90, 120, 150 days,
sellers get tired of cleaning the house all the time, they get tired
of dealing with it all, and just want to sell. This is what you want
as a buyer. It’s like shopping a sale at Macys. A bargain can be had."
Desperation Loud and Clear
Redfin San Francisco Sweet Digs
Weekend Update (July 20 - 22)
The housing slump extends beyond houses
St. Petersburg Times, FL
Home buyers starting to pay less for more
Roanoke Times, VA
SUBPRIME WOES HIT B'KLYN
New York Post, NY
New Age: More retirees heading back to work
Lansing State Journal, MI
After separating from her husband last year, she had
to negotiate with her mortgage lender to avoid foreclosure. "I
do all my shopping in thrift shops, ...
Why the
Housing Market Has Failed You. Five Major Failures of the US Housing
Market
MarketOracle.co.uk
Bear Stearns reported to be sued over subprime
funds
"Investors in Bear Stearns Cos. (BSC.N:
Quote,
Profile,
Research) hedge funds that were virtually wiped out from large
bets on risky mortgages are planning to sue the company as early as
Monday, television channel CNBC reported on Friday."
Bear Stearns reported to be sued over subprime funds
Reuters
Housing decline pushes Florida into recession
"The condo-building bust is being felt by
more than the developers. It's affecting jobs, the housing industry
and the economy. And, at the rate they're being built, experts said
Florida is headed into a recession."
Real Estate Experts Say Condo Glut Will Cause Recession
NBC6.net, FL
Where are all of the loan officers going? Hint - be careful at the
dealerships
Blown Mortgage
Countrywide CEO doesn't see mortgage rebound until 2009
"We're going through an enormous correction period, and we have a long
way to go," Mozilo said. "This is just the beginning of the process."
Sacramento Business Journal, CA
Homes can get taken fast in
foreclosure,
especially in these states
"In Alabama, late-paying homeowners can lose
their properties to foreclosure at breathtaking speed - as little as
30 days after a delinquency notice is published."
Most ruthless foreclosure states
CNNMoney.com
KB Home CEO sees US housing market declining in '08
Reuters
South Carolina median home price
falls
beneath June 2006 level!
"Median home sales price — the point in the
market where half the homes sold for less and half for more — slid 2.2
percent statewide in June to $166,000..."
SC home sales, prices decline
The State, SC
Dodd Calls for `Significant Action' on Mortgage Rules (Update2)
Bloomberg
Hawaii County
home prices get slammed in June
Countywide Median price plunges $93K below June '06!
"During
the month there were 161 homes sold in Hawai'i County, or 47 fewer
than the same month a year prior. The median price also declined,
falling to $363,000, or 20 percent lower than the $454,950 in June
2006."
"Condominium sales also fell on the Big Island, dropping to 46
from 81, while the median sales price increased to $415,000 from
$371,553."
Big Isle home sales decline, prices fall -
The
Honolulu Advertiser
Huge Increase In Bay And CA Foreclosures
ABC30.com, CA
 |
Foreclosures Skyrocket In Contra Costa County
(California) NBC11.com, CA |
FED CHAIRMAN: DELUSIONAL OR DECEPTIVE?
NewsWithViews.com, OR
Federal Regulators, Lenders and Wall Street Blamed for Worsening
Housing and Mortgage Crisis
PR Newswire (press release), NY
 Local10.com |
Forbes ranks Miami the No. 1 riskiest real estate market |
Miami Condo Glut Pushes Florida's Economy to Brink of Recession
"The oversupply will force prices down as
much as 30 percent, the worst decline since the 1970s, and help push
Florida's economy into recession as early as October"
Bloomberg
Housing market slow down taking a toll on real estate agents
KVBC, NV
US home builder woes reach into other industries
KPLC-TV, LA
Housing Woes Impact Job Market
Forbes, NY
Housing Pain Spreads
CBS 47, CA
Spread of Housing Meltdown Continues
Forbes, NY
More massive
housing price collapsing taking place in Cali (Merced County)
"June home sales were dismal throughout the northern San
Joaquin Valley, and sales prices plummeted."
Merced County home prices plunged more than 23 percent in June
compared to a year ago, dropping to a median $290,000 selling price."
Stanislaus County homes sold for a median $343,250 in June,
which was about 9 percent below last year."
San Joaquin County homes sold for $396,000, which was a nearly
12 percent drop."
Home sales nose-dived throughout the region by more than 43
percent, compared to last year."
Things were even worse in some places:
Northeast Modesto, including the new home developments of
Village I, had sales volume drop 31 percent and prices tumble 23
percent to a median $336,000."
Home prices fall sharply; county sees biggest drop
Merced Sun-Star, CA
Fed Speak for Dummies
Gold See
Weak ad sales hurt newspapers
Los Angeles Times, CA
"The air has come out of the home bubble and it's
taking a lot of advertising along with it,"
Lending 'crisis' a self-made problem
The Daily News of Newburyport, MA
Foreclosure help' leads to prison term
San Antonio Business Journal, TX
by Mark Anderson A man who told people facing
foreclosure that he could help them was sentenced Thursday to five
years in federal prison for bilking the ..
An Economic Recession?
Gold Seek
White Paper Blames Federal Regulators and Lenders for Subprime Crises
DSNews.com, TX
Analyst warns of ripple effect of loan failures
Orlando Sentinel, FL
Fed Chairman Eats His Words on Housing Market
eFinanceDirectory.com
Thursday, July 19, 2007
Housing market continues its decline
Purchasing.com, MA
Foreclosures in Austin up fivefold
Austin Herald, MN
Washington Mutual to stop offering certain subprime loans
MarketWatch
Subprime Fallout Spreads on Wall Street
Forbes, NY
US Economy: Housing in Slump, Consumer Prices Cool (Update1)
Bloomberg
 San Diego Union Tribune |
California Home Sales Hit 12-Year Low Forbes, NY |
Bank reform to affect real estate market, expert:
Insurance News Net, PA
Subprime woes will get worse, Bernanke says
MarketWatch
Fed May Ban Some Mortgages Practices
Smartmoney.com
Housing Market on a 'Precarious Perch'
"Last summer, year-over-year home prices
dropped for the first time in a decade. And new data released Monday
marked the 12th straight month of such drops in San Diego County's
home prices."
voiceofsandiego.org
U.S. Home Builder Sentiment: The Market Stinks
eFinanceDirectory
Sub-prime restrictions hit June Houston home sales
Bizjournals.com, NC
Appraisal fraud: Public pays high cost of 'victimless' crime
Explorer News, AZ
Housing troubles begin to snowball
MSN Money
Wednesday, July 18, 2007
Riverside, California median
home price
sinks below 2006 levels!
The median price of a home in Riverside County dipped to $400000, down
5.9 percent from $425000 in June 2006, according to La Jolla-based
DataQuick ...
Riverside County Home Sales Down in June
KESQ, CA
Northern Virginia home prices
sink to 2006 levels!
"Sales prices also fell throughout the
period. The median price for January 2007 was equal to the January
2006 figure, at $455,000. In February, it fell to $449,000, which was
a 4-percent drop from the same month last year."
Area home sales still falling
TimesCommunity.com, VA
Portland area
median home prices starting
to see declines
The Portland-area housing market continued its slow
drift downward in June. The median home price for the Portland area
dropped to $295000, from $297000 in ...
Housing market shows another sign of weakness
OregonLive.com, OR
Presidential
hopeful Ron Paul warns of
possible attack and economy collapse!
"The Congressman added that the collapse was in its
early stages with the major indication being a reduction in the living
standard of middle class Americans but that ‘one single major world
event’ could change things overnight and precipitate a major downturn."
Ron Paul Warns of Terror Attack and Collapse of US Economy
Daily Reckoning, Australia
Top Ten Cities for Buying Foreclosures
eFinanceDirectory
Mortgage lender Alliance Bancorp files Chapter 7
Reuters
SD Housing Prices Steady, Sales Hit Bottom
KPBS, CA
A guide to going Bankrupt in Real Estate!!!
American Chronicle, CA
Summer Brings Chill To Portland Real Estate Market
OPB, OR
150 people, no buyer for auctioned house
The Union of Grass Valley, CA
At a time when the real estate market is going through
a nationwide slump, builder Gary Stokes’ innovative idea of selling a
house at an auction failed ...
Edwards: national law needed to crackdown on predatory lending
Wilmington Morning Star, NC
Market Watch: Southern California Housing Slump -- Part III
Elliott Wave, GA
SoCal Home Sales Hit 14-Year Low In June
CBS 2, CA
Risk of Subprime Mortgage Bonds Jumps to Record for Second Day
Bloomberg
Do Banks Really Want Your Home?
BlownMortgage
Woman May Lose House After Answering TV Ad
WBAL, MD
Nebraskans to be reimbursed for predatory loans
North Platte Bulletin, NE
Tuesday, July 17, 2007
San Luis Obispo County,
California median new home
price plunges by $84K since May 2006!
As Centex continues price cuts!
"Sales of new homes in San Luis Obispo County were down nearly
60 percent in May year-over-year compared to 20 percent for re-sale,
detached homes, according to DataQuick Information Systems, a Southern
California real estate tracking firm."
"The median price for new homes fell in May nearly 14 percent
to $525,500 from $609,000 in May 2006..."
"Dallas-based Centex Homes, the nation’s fourth-largest home
builder, has been among the most aggressive in the county at reducing
prices.
Prices in most Centex neighborhoods in the county are more than
$100,000 less than they were last summer..."
Regional Spotlight: Doing Whatever It Takes to Sell
RisMedia.com, CT
Home prices sink lower in
Buffalo, NY area!
"The median price of a local home that was sold last month was
$107,500. That figure was down 1.4 percent from the June 2006 median
of $109,000."
Housing sales climb, but prices drop
MSN Money
Median home
asking price plunges fast in Salt Lake City, Utah
Median price declines $20K since May!
HousingTracker.net: Median Home Asking Price & Inventory Data for Salt
Lake City, Utah
HousingTracker
 About - News & Issues |
How Bad Is the Current Housing Market
Decline? "However, some economists' studies show that housing price declines of 10-15% are enough to eliminate equity and create a snowball effect that eventually creates severe pain for homeowners. In some communities in Florida, Nevada and Louisiana, that has already occurred." About - News & Issues, NY - |
86% of US Home Sellers Getting 90-100% of Ask Prices, New Survey Says
RisMedia.com, CT
Ohio cities dominate most
affordable towns list
Top 25 Most Affordable Towns
CNNMoney.com
Housing troubles begin to snowball
"Credit downgrades by Moody's and possible downgrades by
Standard & Poor's are a sign of serious trouble in the debt world that
will eventually impact markets and the economy."
MSNMoney
Risky Loans Going Bye Bye?
2/28 ARM loan eliminated by Option One mortgage
"In an amazing development Option One has eliminated the
2-year fixed subprime ARM loan from its lending portfolio. The 2/28
as it’s known in the industry was the staple of subprime refinance
options during the recent run-up in housing."
BlownMortage.com
Before You Flip, Get a Grip: Flipping Foreclosures Are Easier Said
Than Done
SinglePropertySites.com
Foreclosures Continue To Climb In Metro Denver
cbs4denver.com, CO
Texas Senator a foreclosure
scammer?
Texas Senator John Corona is involved in a homeowner association
foreclosure scam
"Maintenance
dues homeowners pay to his management company will be used for fines
so he can foreclose on homes "
AHRC.com
Foreclosure rescue company sued
Cincinnati Enquirer, OH
A 6-month look: Housing slide continues - San Diego
SignOnSanDiego.com
Undue pressure takes its toll on honest appraisers
The San Diego Union-Tribune
Monday, July 16, 2007
Financial Apocalypse Draws Near!
The Federal Reserves New-World-Order
Debt-Trap Will
Close it's Death-Grip on the USA very soon!
U.S. economy collapse, the Dollars decline, the New-World-Order
plan closing-in and crushing homeowners.
A Voice of
Warning: Collapse of the U.S. Economy Part 1
The worst isn't over in mortgage meltdown
The San Diego Union-Tribune
Riverside / San Bernardino, CA
gets
hit hard by foreclosures in June!
"The Riverside/San Bernardino metropolitan area ranked
fourth in the nation for foreclosures in June 2007, according to a
report released Thursday"
Wave of foreclosures
hits homeowners across nation
sgvTribune.com
Analysts see no end in sight to Las Vegas housing slump
Las Vegas Sun, NV
No quick turnaround for home sales (Minneapolis
/ St Paul Minnesota)
"Sales in the metropolitan area were down
nearly 16 percent during the first half of this year, and the median
sale price dipped 2.2 percent as sellers began to absorb the reality
that their biggest investments may actually be losing value."
Minneapolis Star Tribune, MN
Buyers victimized in housing meltdown, but who helps them?
USA Today
Poor housing market leaves families on the street
Tampa Bay's 10, FL
Several of them lost their houses because of the slow
real estate market. Stanley Foster says property taxes,
homeowners insurance and interest rates were ...
Miami condo
buying "fools" get hit by declining prices!
Deposits left on table as buyers back-peddle!
"In February 2006, Blanco bought a preconstruction
one-bedroom unit in a condo community called Quantum on the Bay. She
paid $465,000. Today, however, Blanco estimates the property is worth
$100,000 less than what she agreed to pay."
The condo has lost more than the value of Blanco's $93,000
deposit. And so, just as fast as Blanco wanted in, she now wants out..."
Real Estate Fool's Gold (FL)
The stock market now faces subprime mortgage related losses...
India Daily, NJ
Weak housing spreads woes
MLive.com, MI
 Reuters |
Fannie Mae, Freddie Mac tighten mortgage-buying MarketWatch |
 Reuters |
Subprime Mortgage Fallout Reuters Full Article WASHINGTON (Reuters) - US state officials plan to issue guidance next week to tighten subprime mortgage lending by brokers and originators not ... |
El Paso, TX starts to see
declining home prices
Home prices fall from 4Q 2006
"The
first-quarter median price of $124,000 was below the fourth-quarter
median price of $131,800."
Home sales, prices creep down
El Paso Times, TX
NAACP files massive lawsuit against subprime mortgage lenders at Blown
Mortgage
BlownMortgage
Boston median home asking price
stays on downward path!
Median falls $39K below Aug. 2005 peak!
HousingTracker: Median Home Price & Inventory Data for Boston,
Massachusetts
Miami median home asking prices
fall again!
Median sinks to $75K under Aug 2005 peak!
HousingTracker: Median Home Price & Inventory Data for Miami, Florida
When will housing market turn around?
The Grand Rapids Press, MI
"As housing market conditions improve going into 2008,
the economy will reach back to its growth potential next year,"
Lawrence Yun said in a statement. ...
Martha Stewart
luring homebuyers into falling market?
"All across the country, home builders are gasping
for air as sales plunge, inventories rise and profits disappear. But
in one small corner of the housing market, the sales picture is a
little brighter: There is steady demand for houses designed in part by
Martha Stewart and built by Los Angeles-based KB Home."
Martha Stewart, KB Home Lure Buyers Despite Housing Slump
RealEstateJournal
The Newest Homeowners: Big Banks:
Financial News - Yahoo! Finance
Foreclosures expected to
surge as adjustable rate
mortgages reset in 2nd half of year
Home foreclosures drop in June
RealtyTrac
California Foreclosure Sales Reach $12 Billion in First Half of 2007:
Up 95% From January to June
ForeclosureRadar
CountryWide Crash Course!
"...there’s no
way that’s rational unless someone is very sure that the company is
going straight in the crapper within a week!"
Big
Money Put on Countrywide To Crash — By Next Friday
HousingDoom.com
Interview on the Housing Market - with audio
BlownMortgage
Housing
Markets Follow (approximate) 18-year 'Boom Bust' Cycles! (UK)
Moving graphs show housings downward path
UK House Prices -
The Psychology of Boom & Bust Cycles
Housing crash has just begun!
"Ian L Cooper of Death Cross Trader scoffs at the announcements that
the housing crash is over."
Housing Crash Just Beginning?
MetaCafe
Saturday News Update
July 14, 2007
Bexar County homeowners struggle
with higher property taxes
"Local government taxing entities in Bexar
County are owed close to $30 million in delinquent property taxes,
according to the law office of
Linebarger Goggan Blair & Sampson LLP."
Property owners owe local taxing authorities $29.2 million in back
taxes
Washington Business Journal, DC
 Canada.com |
GE: Lights Out for Subprime Biz BusinessWeek GE said it was exiting the subprime mortgage business, after taking writedowns of $500 million in assets in the first quarter and $182 million in the second ... |
Foreclosure damage to be worse than expected
Upstate House, NY
In subprime meltdown, lots of blame to go around
International Business Times, NY
"Have we forgotten what happened during the
tech-telecom bubble days?" said Andrew Harding, chief
investment officer of fixed-income at Allegiant Asset ...
The 3 Forces Behind a Market Crash
Motley Fool
Low interest rates also led to excessive lending over
the past few years in the housing market -- and were a
contributing factor to the tech bubble of ...
 |
Going from the penthouse to the curb Dallas Morning News, TX But a regional recession and real estate crash squashed plans for their "new downtown" before the first building was even finished. ... |
Woman's real estate plan is wishful thinking
Salem Statesman Journal, OR
One of the common causes of personal bankruptcy in the
Texas real estate crash of the '80s was the expense burden of
owning a single rental house and a ...
Friday the 13th
- Beware of slashing home prices!
Single-family home sales fall 8.2% in 2Q
New Haven Register, CT
"The median sales price of
homes also fell, by 1.3 percent, from $366429 a year ago to $347755 in
the second quarter. "Everything is just taking much longer ..."
Maui home sales jump while prices drop 9.7 percent
Honolulu Star-Bulletin, HI
In May, the Maui median price was at $650000, and 97
existing homes traded hands. The growth in sales also may have been
driven by expanded inventory and ...
Home price
declines running rampant in Phoenix, AZ Valley
"Compared to June 2006, Chandler's prices fell the
least, 2 percent to $288,000. Gilbert's prices dropped the most, 10
percent, to $297,000."
"Mesa: The number of homes sold fell to 520 from 585, while the
median price fell to $235,000 from $247,600. In May, the median price
was $238,000. For condos, the median fell to $154,465 from $156,250.
"
"Tempe: Resales fell to 140 from 160, and the median price fell
to $289,000 from $298,500"
Southeast Valley home resale numbers continue decline
Arizona Republic, AZ
Home price declines / foreclosures rock California's Inland Empire
region!
"The housing market in the Victor Valley continued its downward
spiral in June as sales of existing single-family homes fell 60.2
percent from the same period a year ago, based on data from Larry
Trombley of Century 21 Rose Real Estate.
The ongoing decline in sales of existing single-family homes in the
Victor Valley dragged down housing prices, which dropped 11.1 percent
compared to June 2006, Trombley said."
The two-county region registered one foreclosure filing for
every 135 households last month, which was more than five times the
national average of one filing for every 704 housing units."
Home prices, sales slide in June
Victorville Daily Press, CA
Housing Horror Worsens Across
the U.S.!
"Nationally, the
number of existing homes for sale shot up to an all-time high of 4.43
million in May, roughly double the normal levels of the late 1990s and
early 2000s. Furthermore, unsold new homes on the market now number
about 536,000 — about 150,000 more than what's been considered normal
during the past quarter-century."
Clearly, the experts have turned out to be dead wrong on
housing. Last fall, the
National Association of Realtors ran an ad campaign proclaiming,
"It's a great time to buy or sell a home." It was followed by a slew
of rosy economic forecasts suggesting the housing slump was ending and
a spirited housing rebound was on the way in this year's second half."
National Housing Horror Gets Gorier
New York Sun, NY
Ameriquest Customers Entitled To Restitution
North Country Gazette, NY
Mass Foreclosures Threaten the U.S.
eFinanceDirectory
Housing woes stack up
Sacramento Business Journal, CA
US Urges China to Buy Mortgage-Backed Securities (Update1)
Bloomberg
HUD to Eye Mortgage Policies at Lenders
Kiplinger.com, DC
Real estate market looks to be slowing down
Central Kitsap Reporter, WA
High Insurance Costs Hurting Coast Real Estate Market
WLOX, MS
Federal Reserve Flounders as US Dollar
Drowns
Gold Seek
Dollar Hits 26-Year Low Against British Pound
Money Morning
Wednesday, July 11, 2007
THE HOUSING BUBBLE SETS THE STAGE FOR THE U.S.
COLLAPSE
"The Crashing U.S. Economy Held Hostage:
Our Economy is on an Artificial Life-support System"
The Crashing US Economy Held Hostage: Our Economy is on an ...
The Daily Scare, OH
Rhode Island home values dip by $20K year over
year!
"That softness is illustrated
in the median sales price, which fell 8 percent for May, from $250,000
to $230,000, according to the report. Year to date, the median price
dropped 4.4 percent, from $235,250 to $225,000."
RI home sales down in May, condos up
Providence Journal, RI
Rockland and Orange County, NY
home prices seeing steady declines!
Rockland County median sales price for a single-family home: $505,000,
down 1.9% from $515,000 a year earlier
Rockland County median sales price for a condominium: $281,892, down
11.9% from $320,000 a year earlier
Orange County median sales price for a single-family home: $319,900,
down 3% from $329,900 a year earlier
Orange County median sales price for a condominium: $219,000, down
2.7% from $225,000 a year earlier
Rockland home prices drop slightly
The Journal News / Lohud.com, NY
North Las Vegas Zip Code 1 of 10 Worst For Foreclosures
KLAS-TV, NV
"A zip code-by-zip code
analysis found that an area of North Las Vegas has one of the nation's
10 worst rates of home foreclosure. The zip code is 89013. ..."
 Earthtimes.org |
Home Depot CEO: Correction To Housing Market Still
Ahead CNNMoney.com |
 |
The Housing Bust Bringing Local Government Fallout LoHo 10002, NY |
California Foreclosure Sales Reach $12 Billion in First Half of
2007
American Digital Networks, MD
Up-tick in Oregon foreclosure
lures out the Con-Artists
"With the smell of blood in the water, the foreclosure sharks
are beginning to circle, attracting the wounded with promises of
rescue that never comes. State regulators and consumer-protection
advocates say they're seeing an increase in foreclosure scams that
prey on distressed homeowners."
To make matters worse -- and yes, it gets worse -- con artists
are targeting homeowners in foreclosure with pitches about saving
their homes. But what they're really doing is setting the vulnerable
homeowner up for a scam that skims all of the equity from a property
and leaves the borrower nothing."
Scammers feed on rise in foreclosures
OregonLive.com
(thanks to Jonathan C. for link)
Foreclosure site expands to San Diego, Riverside counties
North County Times, CA
UPDATE 1-US banks, brokers shares fall on subprime woes
Reuters
 Earthtimes.org |
UPDATE: S&P, Moody's Signal Growing Subprime Mortgage Woes CNNMoney.com |
Colorado tops in US foreclosures first half of '07
Rocky Mountain News, CO
US stocks fall sharply on earnings, subprime jitters
MarketWatch
Real Estate's Harsh Realities
Gold Seek
 |
Subprime Mortgage Fallout Reuters |
Economic slowdown highlights need for government reform
Fauquier Times-Democrat, VA
Toxic buildup in the slumping housing market
MSNBC
Subprime worries quickly reshaping rate ideas
Earthtimes.org
 CNNMoney.com |
Treasurys Boosted by Housing Market Woes Forbes, NY |
Homeowners Demand Re-Assessments Because of Ice Cold Housing Market
and Save a Bundle on Taxes
eFinanceDirectory
Housing Market Hits 5-Year Low
Daily Green, CA
Sales fell to 5.99 million at an annualized pace, the
lowest in four years,
and the median price fell 2.1 percent from a year earlier, the 10th
consecutive ...
Keep Your Eye on
the Land Value Ball
WallStreetExaminer
Tuesday, July 10, 2007
Santa Cruz, California: Dropping home
prices
hurts
local governments revenue!
Median price drops by nearly 30K since Nov 2005
"Proposition 13, passed in 1978, allows homeowners to
pay property tax based on the value of the home when they bought it.
Only when a home is sold, or major improvements made, is the home
reassessed.
The median home price for a single-family home in May was
$760,000, as compared to the record-high median price of
$789,250, set in November 2005."
Property tax revenue shrinks as home sales slow
Santa Cruz Sentinel, CA
ARMageddon : Judgment Day is Coming for Millions of
Mortgage Borrowers
"More than two million subprime
adjustable rate mortgages (ARMs) are poised to reset at much higher
rates in coming months, worsening an already suffering housing market"
"Borrowers who took out hybrid ARMs in 2004 and 2005 to secure
low "teaser" rates for the first two or three years of the loan may
see their monthly mortgage payments climb by 35 percent
or more"
Mortgage resets: Record bill coming due
CNNMoney
Mayors push for foreclosure protection
WAND, IL
"The group is asking members
of Illinois's congressional delegation along with the Federal Reserve
Bank to provide more money for foreclosure prevention and ..."
How to Invest in Preforeclosures
RisMedia.com, CT
Some of the best bargains in the foreclosure market
are actually in the preforeclosure market—weeks or even months prior
to the time ...
Realty housing
television show hasn't flopped yet
Are you brave enough to Flip That House ?
Flip This House Announces New Casting Call - Submit Your Request Here
Houston Real News, TX
The Dangerous Disconnect Between Home Prices and Fundamentals
eFinanceDirectory
US Housing Sales to Tumble to Six-Year Low on Rates (Update2)
Bloomberg
Casa No Mas?
Minority Families Face Wave of Foreclosures
MarketWatch
Cruel Tax Rears Its Head Following Foreclosure
KRIS-TV, TX
Swoon during June no cause for concern
The Express Times, PA
Professionals in the real estate industry say the
slowdown is not cause for alarm.
Increasing Rate of Foreclosures Upsets Atlanta
BlueRidgeNow.com, NC
States Push Ahead With Subprime-Mortgage Laws as Congress Lags
Bloomberg
|
UPDATE 1-Banks losing up to $52 bln from subprime CDOs -CS |
Freddie Mac scales back housing forecast
Bizjournals.com, NC
"The recent sharp increase in mortgage rates is
tapping the brakes on the housing market just when we had expected to
see the bottom of the cycle," ...
Tuesday, July 17, 2007
San Luis Obispo County,
California median new home
price plunges by $84K since May 2006!
As Centex continues price cuts!
"Sales of new homes in San Luis Obispo County were down nearly
60 percent in May year-over-year compared to 20 percent for re-sale,
detached homes, according to DataQuick Information Systems, a Southern
California real estate tracking firm."
"The median price for new homes fell in May nearly 14 percent
to $525,500 from $609,000 in May 2006..."
"Dallas-based Centex Homes, the nation’s fourth-largest home
builder, has been among the most aggressive in the county at reducing
prices.
Prices in most Centex neighborhoods in the county are more than
$100,000 less than they were last summer..."
Regional Spotlight: Doing Whatever It Takes to Sell
RisMedia.com, CT
Home prices sink lower in
Buffalo, NY area!
"The median price of a local home that was sold last month was
$107,500. That figure was down 1.4 percent from the June 2006 median
of $109,000."
Housing sales climb, but prices drop
MSN Money
Median home
asking price plunges fast in Salt Lake City, Utah
Median price declines $20K since May!
HousingTracker.net: Median Home Asking Price & Inventory Data for Salt
Lake City, Utah
HousingTracker
|
About - News & Issues |
How Bad Is the Current Housing Market
Decline? "However, some economists' studies show that housing price declines of 10-15% are enough to eliminate equity and create a snowball effect that eventually creates severe pain for homeowners. In some communities in Florida, Nevada and Louisiana, that has already occurred." About - News & Issues, NY - |
86% of US Home Sellers Getting 90-100% of Ask Prices, New Survey Says
RisMedia.com, CT
Ohio cities dominate most
affordable towns list
Top 25 Most Affordable Towns
CNNMoney.com
Housing troubles begin to snowball
"Credit downgrades by Moody's and possible downgrades by
Standard & Poor's are a sign of serious trouble in the debt world that
will eventually impact markets and the economy."
MSNMoney
Risky Loans Going Bye Bye?
2/28 ARM loan eliminated by Option One mortgage
"In an amazing development Option One has eliminated the
2-year fixed subprime ARM loan from its lending portfolio. The 2/28
as it’s known in the industry was the staple of subprime refinance
options during the recent run-up in housing."
BlownMortage.com
Before You Flip, Get a Grip: Flipping Foreclosures Are Easier Said
Than Done
SinglePropertySites.com
Foreclosures Continue To Climb In Metro Denver
cbs4denver.com, CO
