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Author Archives: John Reagan
Southland Home Sales and Median Price Climb Above Year-Ago Level
Southern California’s median sale price rose year-over-year in April for the first time in 16 months, reflecting stronger, affordability-driven demand and a slimmer inventory of homes for sale – especially low-cost foreclosures. Last month’s sales were modestly higher than a year ago, thanks to significant gains in the coastal counties, but remained well below average, a real estate information service reported. Continue reading
Foreclosure Activity Declines Hurting Investors
In California, Notice of Default filings are down 69.8 percent from the peak in March 2009, and 15.8 percent from April 2011. Continue reading
California March Home Sales
A jump in sales from February to March is normal for the season. Last month’s sales were the strongest for the month of March since 39,811 were sold in 2007. On a year-over-year basis, sales have increased the past eight months. California sales for the month of March have varied from a low of 24,565 in 2008 to a high of 68,848 in 2005, while the average is 43,883. DataQuick’s statistics go back to 1988. Continue reading
Further Decline in California Foreclosure Activity
The number of California homes entering the formal foreclosure process during the first quarter declined to its lowest level in almost five years, the result of a more stable economy and housing market, as well as policies that increasingly favor short sales, a real estate information service reported. Continue reading
The housing crash was no accident; maybe it’s time to start assigning blame!
We have long said foreclosures are not the problem, negative equity is. Despite what you may hear about the housing crisis, negative equity was not caused by a downturn in the economy, nor job loss. A run away credit bubble caused it. While we believe banks and government deregulation were primarily to blame, do homeowner’s really have no responsibility? Continue reading