San Diego June real estate sales for both detached and attached homes increased, although modestly, in most neighborhoods.
If one considers seasonal factors, mortgage rates hovering around 5%, and the $8,000 Federal tax credit, the modest upticks should not be considered as conclusive proof that our San Diego real estate market has bottomed.
The San Diego sales data was derived from data published by the San Diego Association of Realtors and the graphs were produced by www.websitetrafficbuilders.com
One big reason loans will continue to default in mass is that no one can afford to sell their home. In my area condos sold for $430,000 to $490,000 are now being sold in foreclosure between $199,000 and $235,000!
Hoodia Gordonii
To all the prudent homebuyers of the world: those who are not underwater on their loans, those who have no mortgage, and all the renters, DO NOT ACQUIESCE TO THIS WITHOUT PROTEST! Your money is about to be taken to bail out those who foolishly purchased housing using option-ARMS, no-doc loans, ridiculous teaser rates, and what-not. The people making these decisions are your elected representatives. Make sure you send them a message: fire these traitors in the next election.
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Seems there should have been more government regulation and tighter qualification for subprime mortgages in order to prevent what we’re now facing.
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The perfect storm of a complete financial collapse is a couple months away. Be ready for a wild ride!
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