Archive for the 'California Love' Category

Mark to fantasy model of real estate accounting. California property assessments down only 4 percent from peak but home values are down by 37 percent. FHA default rates surge.


Manic California – state budget gets worse with projected deficit of $20 billion on the books again. Aging population fastest growing segment in next decade. Disturbing trend of replacing smoking with a double latte.


The manic real estate pricing in Huntington Beach – When dropping prices by $2,950,000 and rising prices by $1,950,000 on the same home is a tactic to sell. The disconnect between household incomes and home values.


I dream of California cognitive dissonance – Many Californians expect high level of services without paying the cost. The typical mortgage payment for those that bought last month was $964?


The three faces of the California housing correction – a Burbank condo, a single family home in Hacienda Heights, and an investment property in Burbank.


The reluctant California home seller – 35 percent of homes bought pre-2000 in California yet sellers still expect unrealistic prices. Market dominated by distressed properties of foreclosures and short sales. La Mirada wakes up to mid-tier shadow inventory correction.


The California problem of making too many renters into home owners – Home ownership rate back to levels last seen in 1993. From 2000 to 2010 population increased by 10 percent but owner-occupied housing jumped by 25 percent. Prime Encino zip code with 6 MLS foreclosures but 96 properties in the shadow inventory.


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