Jumbo Financing and the Impact on The San Diego Real Estate Market

Jumbo Financing is any financing that goes ABOVE what the "agencies" will buy or insure. This basically includes any loan larger than the FNMA and FHA loan limits. There are currently very few players in this market. These players include GMAC, Chase, BofA, Wells, Citi, and a...

Subprime delinquencies are slowing?

The local San Diego 'experts' who are trying to jump on every tidbit of positive real estate news as proof positive that our San Diego real estate market is finally turning, may just have to re-think their recent touting of slowing subprime delinquencies. Clayton Fixed...

Jazz removes life vests to save fuel

I guess i don't need that life vest, the seat inflates right?"Air Canada's regional carrier Jazz has removed inflatable life vests from its planes to save weight, a spokeswoman said. The airline carries both floatation devices (seat cushions) and life vests, and the...

Commercial Real Estate Prices Fall 11.8%

Moody’s Investor Services released a report showing that their Property Price Indices (CPPI) fell for the fourth straight month in June.The CPPI is down 3.3% from May, 9.6% below June 2007 and 1.8% below its peak in October 2007.*to view the full post, please visit the San...

Southern California Home Sales Up … Home Prices Still Falling

DataQuick Information Systems just reported that across the six counties of Southern California it was the highest level of sales in almost a year. The median sales price in July was $260,000 in Riverside County and $230,000 in San Bernardino County. Both represent declines...

More homeowners than ever are selling at a loss!

The real estate Web site Zillow.com has reported that in the 12 months that ended June 30, nearly 25% of all homes sold nationwide fetched less than sellers originally paid. Other interesting facts from this report showed: A. In Merced, Calif., 63% of homes sold during the...

Home Builders Pushed 100% Loans to Move Properties

A recent report from the Laborers' International Union of North America stated: Homeowners who purchased at newer developments are more likely to have 100%-financed, adjustable-rate mortgages because of builders' efforts to push risky subprime loans. As a result… certain...

Greenspan … Housing Bottom In Sight

Former Federal Reserve chairman Alan Greenspan said this week "Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009, prices could continue to drift lower through 2009 and beyond." Let's all hope he is right. But, a quick...

San Diego County Foreclosures up 125% from 2007

According to a report today from RealtyTrac, an Irvine, Calif., company that tracks foreclosures, apprx. 2,200 homes in San Diego county were seized by banks, while an additional 3,000 homes received notices of default, the first step in the foreclosure process.

Home Value Loss … Homeowner Perception vs. Reality

Zillow has released their Q2 Homeowner Confidence Survey — asking more than 1,300 U.S. homeowners their perception of their own home’s current value, as well as what they think will happen with their home and local market in the coming 6 months.

June Pending Home Sales Up 4.6% in the West

Home sales contracts signed in June unexpectedly rose across the country, but still were well below year-earlier levels. The National Association of Realtors June up-tick report was sharply contrary to forecasts by economists polled by Reuters, who had expected home sales...