Pending home sales are starting to turn brisker but this is expected over the summer. The real question will come from the sustainability of this trend. Yet a good amount of this bounce is coming because of low inventory and banks still figuring out how they will dispose of troubled properties. “(CBS) WASHINGTON – Americans [...]
Real estate across the bay – Looking at Hayward and San Mateo. California financial bubbles springing up once again in the Bay Area. Hayward up 56 percent from last year?
I wanted to compare two cities across the bay that are showing the split in California housing. In one select area we are seeing prices persistently high and in another area, we have seen prices come down hard. Yet the interesting thing about the data is that it shows us that both areas are seeing [...]
Big Loans Facing Big Problems – California Prime Jumbo Loan Defaults Rise to 11.3 Percent Putting $167 Billion in Loans in Distress. California Holds 44 Percent of Prime Jumbo Loans and 50 Percent of Option ARMs.
Most Americans will never deal with a jumbo mortgage. With the nationwide median home price of $173,000 a mortgage of $729,750 seems like an absurdity to most people. But in states where housing prices were climbing by leaps and bounds big mortgages were big business. The prime jumbo residential mortgage backed security market is currently [...]