Archive for July, 2010

Real City of Genius – The Westside of Los Angeles. Three short sales in Palms, Santa Monica, and Culver City. $100k to $300k in discounts in prime Southern California locations. Short sales still too expensive even with large discounts

Banks cherry picking individual foreclosures that show up on the MLS in Culver City and Pasadena with proof: Southern California lenders pushing out properties in Culver City with an average price tag of $300,000. Median sale price for city is $600,000. Shadow inventory average price is $443,000 with loans at an average of $552,000. 141,000 homes in Southern California are distressed yet MLS only reflects 83,000 total properties.

Japan Iwato and Heisei stock and housing bubbles – How the U.S. is following in the path of Japan. Real estate lost decade, technology stock market bust, quantitative easing, and mania inducing monetary policy.

California real estate foreclosure math – Notice of defaults decline while actual foreclosures increase. Why are notices of default falling while those falling behind on their mortgage are still at record levels? The 550,000+ California properties in distressed limbo.

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