Archive for the 'foreclosures' Category

Real Homes of Genius: Manhattan Beach and million dollar neighborhood trends. Commercial real estate and residential foreclosures meet in unlikely zip code. Forbes 29th most expensive zip code enters correction.


5 reasons why falling home prices will be good for the economy – Higher homes values does not mean higher home equity, financial sector profits back up to 30 percent of all corporate profits, the mortgage debt equation.


The fallacy of cheap home prices and the two income trap – dual income households underscore massive housing inflation. Nationwide home prices overvalued by 25 percent.


Nationwide foreclosure activity jumps by 12,000 from June to July. One in 397 received a foreclosure filing during the month of July.


FHA has become the new toxic lender of first resort – 4 out of 10 loans made in expensive Southern California are FHA backed. FHA now backing apartments in Manhattan with a price tag of $820,000 to $3 million with a 3.5 percent down payment.


Million dollar California foreclosures – 35 examples of massive upper-tier foreclosures including one home that is underwater by $2.2 million. Santa Monica housing still in a bubble.


Back to the California housing future -Low priced housing areas in California in for a real estate double dip? New buyers and investors jumped in too soon. Massive sales and speculation in lowest priced zip codes.


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.


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.


3 housing stories that’ll surprise you – FHA only starting to tighten loans standards (for real this time, maybe), deed-in-lieu of foreclosures growing, and fining banks for neglected properties. BofA FHA insured delinquent loans increase nearly 200 percent in one year.


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