Archive for November, 2010

Real Homes of Genius – From $5.5 million to $2.7 million in Newport Coast. Million dollar foreclosures grow in Southern California elite housing markets.

The long road to a housing recovery – 279,000 California homes in shadow inventory. 2.1 million versus 4.85 million homes nationwide in the shadow inventory pipeline. Only 8,000 bank owned homes show up on the SoCal MLS yet statewide banks own 90,000 homes.

Why low interest rates do not help the housing market and heavily benefit investment banks – 40 percent of Americans have mortgage rates higher than 6 percent. The SoCal housing market will enter a significant correction in 2011 based on seasonal sales and price changes.

Real Homes of Genius – 916 square foot home selling for $510,000 in Culver City bubble market. Imagine having a second mortgage 3 times the size of the original mortgage! Shadow inventory galore in Culver City.

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