California Home Sales
California Home Sales
California home sales
California pending home sales
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today that pending home sales in California fell in November but were up from the previous year for the seventh consecutive month.
Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market. Read more 
Real Estate Market – Housing Starts Jump to 18 Month High
Real estate market:
real estate market good news
The Commerce Department released a report today showing that housing starts surged 9.3 percent to a seasonally adjusted annual rate of 685,000 units, the highest since April last year. Now, with this latest housing report, residential construction has now grown for two straight quarters. Read more
Home Sales Jump in October
Home Sales Jump
home sales
The National Association of Realtors® just reported October Pending home sales rose strongly by10.4 percent to 93.3 in October from 84.5 in September and is 9.2 percent above October 2010! Keep in mind that this data reflects contracts but not home closings.
The National Association of Realtors® chief economist, said: “Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows and there is a pent-up demand from buyers who normally would have entered the market in recent years. We hope this is indicates more buyers are taking advantage of the excellent affordability conditions. Many consumers are recognizing that home buyers in the past two years have had one of the lowest default rates in history. Moreover, continued inventory declines are another healthy sign for the housing market.” Read more
Home Values Drop – Case-Shiller index
Home values drop in most US cities in most recent Case-Shiller index report
Home Values
Home prices dropped in September from August in 17 of the 20 cities tracked by the Case-Shiller Index. The biggest monthly price declines were in Atlanta, San Francisco and Tampa (Florida) . Also, home prices in Atlanta, Las Vegas and Phoenix fell to their lowest points since the housing crisis began four years ago.
The only three cities in the index to show any home value increases were in New York, Portland (Oregon) and Washington.
A few of reasons why the home values continue to slide: 1) home prices are still too high in many areas, 2) people have little money to spend, 3) fear – home prices can and will likely go lower, 4) uncertain labor market – people are in staying in a safe mode and saving.
California Mortgage Fraud
California Mortgage Fraud
Information from the California A.G.
5 Tips to Avoid Being Scammed
- Don’t pay up-front fees. Foreclosure consultants are prohibited by law from collecting money before services are performed.
- Don’t ignore letters from your lender or loan servicer. Responding to those letters is your best bet for saving your house.
- Don’t transfer title or sell your house to a “foreclosure rescuer.” Beware! This is a scam to convince homeowners they can stay in the home as renters and buy their home back later. It might also be part of a fraudulent bankruptcy filing. Either way, a scammer can then evict the victim and take the home.
- Don’t pay your mortgage payments to anyone other than your lender or loan servicer. Mortgage consultants often keep the money for themselves.
- Never sign any documents without reading them first. Many homeowners think that they are signing documents for a loan modification or for a new loan to pay off the mortgage they are behind on. Later, they discover that they actually transferred ownership of their home to someone who is now trying to evict them. Avoid California Mortgage fraud scams
San Diego Home Sales Up – Prices Down
San Diego home sales market
San Diego home sales
Dataquick La Jolla-based real estate information company just released a report showing that San Diego home sales were up a tiny 0.3% in October when compared to October a year ago. But, even this tiny increase in sales did not translate into an increase in San Diego home prices. Read more