Has California truly bottomed out?

Posted: 8/20/2012

California's median home price has posted gains for the fifth consecutive month according to the newest data from real estate firm DataQuick. While sales fell 3.7%, which is attributed to a normal seasonal decline, the median home price rose 2.6% in July compared to the previous month of June. Even though the new numbers are {...}

Read full article...

Older Americans Hit Hardest

Posted: 8/03/2012

A new report published by the AARP shows that older Americans have been the hardest hit during the sluggish economy and brutal housing market. More than 1.5 million older Americans have lost their homes to foreclosure, with roughly another {...}

Read full article...

New Forecast Hints at Recovery Next Year

Posted: 6/20/2012

Economists at UCLA have released a new report forecasting that the housing market won't begin a full-fledged recovery until next year. A large increase in sales with a small jump in values is not enough to make economists believe that the market has already turned {...}

Read full article...

One Third of LA County Homes Underwater

Posted: 5/24/2012

New housing data released by the real estate website Zillow shows that nearly 1 out of 3 homes in Los Angeles County owe more on their mortgage than their home is worth. Areas further away from city hubs show a larger portion of homes, up to 60% or more, {...}

Read full article...

New Laws Set to Help Short Sales

Posted: 5/03/2012

New federal rules are set to help the short sale process become quicker for buyers and sellers. An estimated 11 million homeowners are underwater on their home and in June new policies will be put into place to keep banks from delaying short sale {...}

Read full article...

CA Congressional Members Against Bulk REO Sales

Posted: 4/09/2012

Eighteen members of the California State Congress signed off on a letter to the Federal Housing Finance Agency urging acting director Edward J. DeMarco to not implement a bulk REO purchasing program. The program would allow more than 600 Fannie Mae owned foreclosed homes in Los Angeles and Riverside counties to be sold to investors, who {...}

Read full article...

Have We Hit Bottom?

Posted: 3/22/2012

Have we hit the bottom of the marketWhile the question "have we hit bottom?" has sneaked its way to front page of every newspaper at some point for the past three years, new signs could indicate we are near the bottom of the housing market crisis. Home sales across {...}

Read full article...

Good Financial Decisions

Posted: 3/05/2012

DecisionsAs the housing market started to fall into crisis between 2005 and 2006, many homeowners stopped paying on their monthly mortgage. Some homeowners simply could not afford their payments while others, who could afford their home mortgage but chose not to {...}

Read full article...

Home Prices Drop in 4th Quarter

Posted: 2/24/2012

Home prices across the US fell 2.4 percent in the fourth quarter compared from a year earlier. Home prices in California fell 4.6 percent compared to the previous year, which means the state's home prices have dropped 44 percent on average in the past five years. With continuing home value woes, California ranks 9th as the worst home {...}

Read full article...

Mortgage Settlement Reached: The Good and Bad News

Posted: 2/10/2012

This week, a landmark $25 billion settlement was reached by the federal government along with 49 states and the nation's five biggest banks. The agreement will provide benefits for hundreds of thousands of homeowners who have been affected by the housing crisis. Nationwide, the impact of the settlement is meant to help take a step {...}

Read full article...