Consumer Confidence Index Moves Higher in January
San Diego California home sales
The Consumer Confidence Index rose in January to 55.9 (1985=100) compared with 53.6 in December, the Conference Board reported . The Present Situation Index increased to 25 in January from 20.2 in December, and the Expectations Index increased to 76.5 from 75.9 last month, according to the report.
“Consumer Confidence rose for the third consecutive month, primarily the result of an improvement in present-day conditions,” said Lynn Franco, director of The Conference Board Consumer Research Center. “Consumers’ short-term outlook, while moderately more positive, does not suggest any significant pickup in activity in the coming months. Regarding their financial situation, while consumers were less dire about their income prospects than in December, the number of pessimists continues to outnumber the optimists.”
Consumers’ assessment of current conditions was more positive in January than in December, with those claiming business conditions are “bad” increasing to 46.1 percent in January from 45.7 percent in December, while those claiming conditions are “good” increased to 9 percent in January compared with 7.5 percent in December. Consumers’ appraisal of the job market improved moderately, and their short-term outlook was mixed, according to the report.
Del Cerro home for sale
Fed Leaves Key Interest Rate Unchanged
brokerforyou.com Bob Schwartz
The Federal Reserve announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time. “Information … suggests that economic activity continues to strengthen and that deterioration in the labor market is abating,” the Fed said in a prepared statement. Read more 
San Diego Home Foreclosures Jump 41.9%
San Diego foreclosures
Although default notices dropped to their lowest level in more than a year in December, MDA DataQuick reported yesterday, the number of foreclosures rocketed up for December, up 41.9 percent from November and up 20.9 percent from a year earlier.
DataQuick president John Walsh said.“Clearly, many lenders and (loan) servicers have concluded that the traditional foreclosure process isn’t necessarily the best way to process market distress.”
San Diego Housing Values Outlook
San Diego housing market
I can give about 10 good reasons on why buying San Diego this year may not be the optimum time:
1- Interest rates will eventually rise
2- Massive foreclosures flooding the market over the next 24 months
3- Federal stimulus is ending (though it could be extended)
4- Unemployment at 10% (In reality this is most likely closer to 17%) and rising
5- Pay cuts to those who are working
6- Next to impossible to get a loan without 20% down – who has that kind of cash laying around these days
Read more
San Diego Home Value
San Diego Home For Sale
3BR/2.5BA Townhouse
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California Home Foreclosure Notices Drop 24%
California home foreclosures
MDA DataQuick reported today that nearly 85,000 mortgage default notices were filed from October through December 2009. That’s down 24 percent from nearly 112,000 during the previous three-month period. However, it’s still up 12 percent from about 75,000 during the same period of 2008.
Default notices are climbing in mid- and high-end neighborhoods, as homeowners who were able to make payments longer than those in entry-level markets, feel the results of the recession and job losses, said MDA DataQuick president John Walsh.
San Diego real estate attorneys
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