Archive for the 'foreclosures' Category

Culver City real estate example of a mid-tier city tipping over into correction. Average income $77,000 yet most MLS listed homes selling for $700,000 or more. Few foreclosures selling for 33 percent below MLS non-distressed properties.


Home equity loans in California still over $600 billion. Pasadena and the mid-tier correction starting. Short sale for 50 percent off and HELOC machine being sold at auction for 70 percent below the outstanding loan debt.


Southern California back into a year-over-year decline. Los Angeles median home price down over 10 percent in 4 months. Slowest housing sale month since March of 2008. 30 percent of buyers involved all cash and the median price for these homes was $190,000.


Nothing down and low down payment mortgages inflate housing prices and increase the rate of foreclosure – Financial reform starts with increasing the down payment amount. How FHA insured loans infiltrated and filled the gap of exotic mortgage financing.


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