As the author of The Great Housing Bubble, I am an authority on the housing bubble. As someone who has written daily about the myriad of circumstances and consequences of the bubble, I have examined this phenomenon from every conceivable perspective. One of the great features of blogging is the constant exposure to other points of view on these issues. If there is something I miss, a reader usually points it out. The astute observations have greatly increased my understanding [Read More...]
Modern American culture can trace its roots on the North American continent to pioneering English settlers. Life on the frontier is harsh, and each family unit is self-reliant. In a frontier society, if people didn’t work, and if they didn’t produce their own food and shelter, then they died. Fear of death from starvation or exposure was very real, and anyone who wasn’t motivated to produce something of value to themselves or others faced the near certainty of painful death. [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the [Read More...]
Lake Forest Overview Median home price is $324,000. Based on a rental parity value of $457,000, this market is under valued. Monthly payment affordability has been improving over the last 3 month(s). Momentum suggests improving affordability. Resale prices on a $/SF basis declined from $224/SF to $220/SF. Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months. Median rental rates declined $8 last month from $1,940 to $1,931. Rents have been rising [Read More...]
It’s no secret that I don’t particularly like the practices of the NAr. They consistently embarrass themselves and their members by putting out false and misleading data and press releases. Credibility comes from telling the truth, even when that truth may be unpopular or contrary to one’s own interests. The NAr has consistently lacked credibility as they have proven unwilling to say anything negative about the prospects for real estate despite a massive decline in sales volumes and resale prices. [Read More...]
Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the most viewed property listings in Orange County. Check them out. 9291 PARLIAMENT Ave Westminster, CA 92683 — $389,900 Competing Listings $419,500 15932 COMMONWEALTH Pl 0.11 miles 3 bd / 1.75 ba 1,291 Sq. Ft. $457,000 9281 JASMINE Ave 0.31 miles 4 bd / 1 ba 1,390 Sq. Ft. $385,000 [Read More...]
Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the most viewed property listings in Orange County. Check them out. See what everyone else finds so interesting. 21562 SADDLE RIDGE Way Yorba Linda, CA 92887 — $698,000 Competing Listings $975,000 21515 DUNROBIN Way 1.02 miles 5 bd / 4.5 ba 4,271 Sq. Ft. $785,000 22355 ROLLING HILLS Ln 1.08 [Read More...]
Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the most viewed property listings in Orange County. Check them out. See what everyone else finds so interesting. 335 FLYERS Ln Tustin, CA 92782 — $375,000 Competing Listings $639,900 53 DEL CAMBREA 0.82 miles 3 bd / 2.25 ba 1,683 Sq. Ft. $595,000 33 SPARROWHAWK 0.83 miles 3 bd / [Read More...]
It is shocking — and a little frightening — to see how clueless and inept the people in charge of our money supply really are. Recent releases of federal reserve open market committee transcripts clearly show the federal reserve completely missed the housing bubble, and they grossly underestimated its impact on the economy. If policy makers do not identify the problem, they can’t craft policies to properly react to the problem. The people in charge at the federal reserve under [Read More...]
A reader recently emailed me his story on getting a loan on a property. I know first-hand how tough the banks are making it to get a loan, but mine are investment property loans, and they should have more scrutiny. I am always suspect when I hear complaints about the tougher underwriting standards because most people compare today’s standards with the non-existent standards of the bubble. However, hearing stories from very well qualified borrowers having troubles does make me pause [Read More...]
This REO is selling for nearly its 2001 purchase price. After sales fees, this property has a near zero rate of appreciation over the last decade. It is a bank REO due to the borrower’s excessive mortgage equity withdrawal. ——————————————————————– This property is available for sale via the MLS. Please contact Shevy Akason, #01836707 949.769.1599…… sales@ochousingnews.com….. —— —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- [Read More...]
Mortgage delinquency rates will likely decline in 2012 as lenders foreclose and remove the loan from the delinquency pool. Unfortunately for lenders, the delinquency rate is expected to rise for the first quarter of 2012 as declining prices and a weak economy prompts more borrowers to strategically default. 2012 mortgage delinquencies seen dropping sharply By Eileen Aj Connelly NEW YORK – If the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should [Read More...]
Astute Observations